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Student not interested in full ride schools

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Replies to: Student not interested in full ride schools

  • PepperJoPepperJo Registered User Posts: 168 Junior Member
    D has been offered full tutition to full rides at several schools due to some standardized testing accomplishments. She is not interested in any of them, and neither am I. They might be fine schools, but they are certainly not a fit for her. We “compromised” by her applying to many schools that offer large merit awards, in addition to a few UCs and Cal States. She also applied to a few that have no merit and are high reaches; should she get in, we will have to weigh all options since we are full pay. Would be nice to save that money for grad school though.
  • compmomcompmom Registered User Posts: 9,878 Senior Member
    Some of the top schools offer generous financial aid up to family incomes of $150k and beyond, with no loans in the package

    . Every family is different, and it depends on number of kids, parental age and health, many other factors.

    If I made enough that we did not qualify for aid at schools with aid eligibility at that level, I would consider paying for the selective school. Then again, there is always grad school with funding at those same schools, if a kid graduates with no debt.

    I myself attended a state school and loved it. But two of mine did go to selective ones and it was worth it no matter what CC says :)
  • bookwormbookworm Registered User Posts: 8,532 Senior Member
    I went to the honors program in a large state school, and didn’t really like it. So I didn’t restrict son’s choice of a college based on $ (ease of travel was a factor). I did have him apply to the state U, which would have been free, and his close friend was going there. U Miami, FL, would have been free for him, but he just wasn’t interested.
  • austinmshauriaustinmshauri Registered User Posts: 7,553 Senior Member
    In your other thread you said your son is interested in computer science. Is he interested in any state schools in KS or is he hoping to go OOS? How much can you afford to pay per year without borrowing?
  • ProfessorPlum168ProfessorPlum168 Registered User Posts: 1,754 Senior Member
    Never once did my kid think of going for merit rather than going for a top school in his field of interest. In fact, he didn’t even have what everyone would consider a safety, all matches or reaches, even though as we found out thru CC that his GPA wasn’t really all that spectacular. And that’s because we saved and sacrificed a lot (at the time a $300K difference in housing price but now probably more like $800K) to move into a premier school district for my kid to attend top schools. The goal from day 1 that we ingrained into my kid was “if you can make it to Stanford or Harvard we’ll find a way” so it would be hypocritical to suggest to him that some lower ranked school could offer him a full-ride. In fact, most likely my alma mater would have offered something pretty generous and the Dean of the CS school talked to him quite a bit since he was in junior high, but my kid never once gave it a thought.
  • allyphoeallyphoe Registered User Posts: 1,796 Senior Member
    Wouldn't you laugh if you heard someone say "I don't think it is [necessarily] good to buy a Honda if you could afford a Tesla"?

    I could get a Ford Fiesta for $15k, and I'm sure it would get me from place to place adequately. But I didn't even test drive one when I was car shopping, because I wanted something nicer. I love my Chevy Cruze, which ended up being more like $30k. Multiply that $15k times the maybe 7 cars I'll own in my life, and that's more than $100k I'll have wasted on a transient better experience. I could have just as easily wasted that money paying an extra $25k a year for my kid to have a transient better college experience, and made do with the Fiesta.

    Different people spend their money on different stuff, because different people value different stuff.
  • socaldad2002socaldad2002 Registered User Posts: 733 Member
    It’s pretty simple, if money was not a factor, would the student choose the “full ride” college over another higher ranked and better fit college? I would guess 99% would chose the later. That is the reason why if it was up to them they would chose the “better fit” college. I agree with others, if you have ear-marked money for college than it is less painful turning down a “full ride”. In some ways, the community college than transfer to college of choice might be a better option than chasing the best merit; saves a lot of money for 2 years and you still get that degree from college X.
  • SJ2727SJ2727 Registered User Posts: 353 Member
    edited November 22
    I don’t really agree with the above post. Some of my college years were among the best of my life. Memories of college are way different than the transient pleasure in driving a car, or spending on some other “thing”. Then again I’m a big believer that money spent on experiences (which would include a better college experience) outpaces “things” any day.

    I was one of those kids accepted to a top college that my parents just couldn’t afford. I eventually made my way there years later for graduate school on my own dime, but I guess that experience really shaped my attitude to what and how I will spend for my kids on college. I don’t blame my parents, they just didn’t have the money, but if that had been the case because they were buying fancy cars or something I would certainly have felt resentful.

  • intparentintparent Registered User Posts: 35,370 Senior Member
    I think the OP’s mention of co-signing loans is key to this discussion. That implies that the OP doesn’t have a lot of money earmarked in savings for college and/or a lot of extra income that could be used for college. In that case, you need to define the financial parameters you have for your kid ASAP. Don’t co-sign loans. But it is only fair to lay out the financial constraints during the search. Don’t wait until spring of senior year.
  • socaldad2002socaldad2002 Registered User Posts: 733 Member
    @Twoin18 Harvard vs UVA is a lot different question because they are both are excellent colleges versus the choice between say Stanford vs full ride to Iowa State or University of Texas Dallas ranked #120-130 for national universities. For me, Stanford is a no-brainer, while Harvard over UVA would be a tougher call.
  • ucbalumnusucbalumnus Registered User Posts: 72,246 Senior Member
    mountain88 wrote:
    Assuming that you don't have an unlimited budget for college, did you try the "hard line" approach, saying that you would not be co-signing any loans since they had free or nearly free options?

    Have you told the student how much you are willing to contribute (cash, not parent loans or cosigned loans) for college? That can set the hard limit (though non-cosigned federal direct loans of $5,500 can be added if you and the student are comfortable with that amount of student loan debt).

    Within the hard limit, do you want to give some incentive to choose a less expensive school? Some parents do offer the remaining money for post-graduate professional school or other educational costs if the student chooses a college that is below the hard limit (though this may be more of an incentive for pre-med or pre-law students, or other students intending to go on to expensive professional school).
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