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<p>That is a good list.</p>
<p>Some variation of this would be a great sticky for this section.</p>
<p>It’s a terrific list, sybbie. </p>
<p>I do want to point out that those who caution a teen about borrowing are really doing that young person a service. Yes, sometimes they say it over & over … but that is because the teen poster keeps coming back with replies that indicate he/she isn’t “getting it.” </p>
<p>I’m not 100% sold on this comment: " the best thing one can do is tell them to talk to their parents and seek out help from people who understand their financial situation rather than relying on help from anonymous people on the internet who don’t have the details and the context." Many teens come to this forum because they need information that they are not getting at home. Yes, they should talk to their parents. But when the parents are not forthcoming or believe in tuition fairies/money trees that supposedly grow on school campuses/“just borrow it all,” etc, the people who don’t have all the details may just be what the poster needs.</p>
<p>I think the low income student is at high risk when it comes to college. A (relatively) small gap between aid and need can be perilous. I’ve known more than one student go off to college, not be able to finish, and return home with no degree and debt. It is heartbreaking. Posters who are informative about the financial aspect of college are doing the student a service. I think the spirit of this thread is to be honest but not too critical or rude to teens.
I also think we need to be more positive about community colleges. I know of one very bright young man who chose CC to save money. He is now finishing up at a 4 year college. In many cases, this is the best financial option, and there is no shame in it.
I mentored a very bright student whose family is low income. At the beginning we sat down and discussed the financial aspects of college. I don’t know the details, but having application fee waiver vouchers was enough information for me to discuss it.
Parents don’t have to disclose personal financial info in detail, but they can say- we are able to pay X towards college.</p>
<p>CC’s are recommended a lot in this forum, and I really wish students wouldn’t look at CC as “beneath” them. In my state, the top 4 year schools offer great scholarships to students who do well in CC … so the students not only save money the first 2 years, but they also save money the final 2 years due to the scholarships. We often are told, “I’ve worked too hard to have to go to a CC” - it’s a mindset that keeps many students from making an affordable choice.</p>
<p>* I’ve known more than one student go off to college, not be able to finish, and return home with no degree and debt.*</p>
<p>that is heartbreaking. </p>
<p>No wonder so many default on their loans.</p>
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<p>This is culture/family dependent. </p>
<p>My parents never kept their income a secret from me nor their parents from them. Most of my friends had no idea what their parents made until FAFSA/FA packages.</p>
<p>I very rarely respond to teen posters because I know a lot of times it’s pointless. They’re just looking for people to justify the decision they’ve already made. I do agree that respect needs to be remembered more.</p>
<p>CC’s are recommended a lot in this forum, and I really wish students wouldn’t look at CC as “beneath” them. In my state, the top 4 year schools offer great scholarships to students who do well in CC … so the students not only save money the first 2 years, but they also save money the final 2 years due to the scholarships</p>
<p>very true.</p>
<p>I wish more states did programs like Running Start in Washington. High school students can get their AA’s while in high school, so that’s a huge savings right there.</p>
<p>romani, you are young. I cannot imagine anyone from my generation knowing what their parents earned. Most of us were clueless beyond belief. For example, I have no clue how much my parents earned. I assumed it wasn’t a lot. We had 4 kids in college at once (brother 2 years older, twin brothers a year younger) … and I didn’t even realize that there might be any financial assistance available. That’s why 3 of us chose the very low-cost co-op school we attended.</p>
<p>mom2collegekids, it is unfortunately a not-uncommon scenario that students go off to college, don’t finish, and return home with no degree and lots of debt. It is especially common for low income students, who are less likely to be able to repay those loans (no parental safety net).</p>
<p>(So this is the thread you were referring to, kelsmom! :)) </p>
<p>In all honesty, as a teen poster, I appreciate hearing blunt (but not snide/condescending) honesty. The world’s not always fair, but someone needs to tell us that.</p>
<p>kels, I know I’m young. I was specifically speaking as someone who is in her early 20s 
What I’m saying is that it’s not any different with my generation and there were people in my parents’ generation (my parents!) who did know their parents’ income. My friends did not and do not know their parents’ income until filling out the FAFSA and/or getting FA packages. </p>
<p>I also think poor families tend to know their parents’ finances much more than middle class/wealthy kids.</p>
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<p>I think that is unusual. My understanding is that there’s very little scholarship money available to CC transfers at most schools. In states where that is the case, it seems that the student would be better off finding schools that will offer them significant merit aid for 4 years. Those students who think a CC is beneath them can get great automatic scholarships at many schools, though they may think those schools are beneath them as well.</p>
<p>^^
It is true that many transfers don’t get great aid/merit, but there are some states that do have public systems that provide good need-based aid to CC transfers…Calif is one.</p>
<p>But, again, another nice thing about states that have programs like Running Start is that a high school kid gets his AA while in HS, but doesn’t “transfer”…he’s treated like an incoming frosh for merit and aid purposes…so wonderful. It’s so much easier for families to pay for two years of college.</p>
<p>And…wouldn’t it be great if those two years could get larger Direct Loans???</p>
<p>Definitely nice for those who have those options.</p>
<p>CA and NC both have those options for CC. In our district, largest in the state there are specific high schools set up just for this idea of acquiring an AA while still in high school. The district covers the cost of all the courses, books, supplies for the AA. And they are set up around the state. In addition you can attend a local 4 year, at no cost while still in high school if the local high school does not offer the course you are taking. So different foreign languages, math beyond AP Calc, sciences, some humanities…</p>
<p>In addition, like CA, the state schools offer merit aid/scholarships for CC transfers into the 4 year programs. (CA UCs used to give preference to CC transfers before any others applying). NC does this as well, first consideration goes to NC CC transfers. 4 of my 5 kiddos took advantage of this opportunity and it served them very well. They went on to the state flagship, service academies, ivy’s, and OOS publics all with great aid and merit scholarships, in part to their great grades from the CC.</p>
<p>It has not impeded their grad school pursuits either. Son now in med school, on scholarship, was just accepted to a top MBA program with full fellowship (merit based).</p>
<p>Like I said, community college was part of their academic records. And on opposites coasts, CA and NC!</p>
<p>Kat</p>
<p>There are other considerations when looking at the cost of attendance. Cash strapped parents might not be able to afford any “extras”: study abroad, clothing, activities. Most college students can choose inexpensive entertainment, but that can be a stress if a student is in debt. Students can work during school or summer to pay for extras, but if all their earnings go to tuition, then there is little for extras.
When I discuss finances, I mention not only the finances with regard to college, but that the student would like to “have a life”- meaning, go out for coffee with friends sometime, or purchase something new to wear. I think extravagant activities are probably not in reach for many students, but these typical ones are important parts of their lives at this time.
For families with sufficient funding, attending a more affordable college might leave funds for study abroad or other educational opportunities, or save money for graduate school.</p>
<p>I think such “cheaper” options are very limited for many students. We live rurally, for example, and there is a CC in town, and I think it does have an articulation agreement with our state university, but scholarship options for transfers are extremely limited (as in small in value, not necessarily limited in number, I don’t know about that). We don’t have a college in our state college system within a reasonable commute (closest is 1.5 to 2 hours drive) so living at home and commuting to a state college is also not a viable option for most kids. (There are private colleges in commuting distance, but they are expensive.) </p>
<p>Not all kids drive (some for medical reasons, some for other reasons) which pretty much eliminates all commuting options in rural areas that don’t have public transit. Even the local CC here would be nearly impossible for a kid who didn’t drive and have their own car.</p>
<p>As a rural poster, I often feel like the regulars on here have one-size-fits all answers to kids with financial constraints, without realizing that there are lots of kids who don’t have the options their kids have. So, keep in mind that maybe it would be kinder to ASK if those resources exist for a poster before assuming what options they have.</p>
<p>We live rurally, for example, and there is a CC in town, and I think it does have an articulation agreement with our state university, but scholarship options for transfers are extremely limited</p>
<p>These situations really scream for a Running Start kind of situation. The kids gets his AA while in high school…but then is eligible for all the great merit and FA that an incoming frosh gets. </p>
<p>Plus, when the student does go to a Univ with AA in hand, he will have enough credits that he will get the $7500 loan (rather than 5500) which could make the difference. </p>
<p>I think the fed and the states need to “put their heads together” and come up with strategies that really help people out.</p>
<p>Running Start-like programs
Change Direct Loans so ^^^ those kids can borrow $15k each year for Jr and Sr years.</p>
<p>eliminating 2 years of undergrad costs means less Pell payouts, less Work Study payouts, and so forth. </p>
<p>seems like a win win.</p>
<p>Except that the vast majority of students aren’t (and shouldn’t) be ready for college level work at hs sophomores. Financially, those programs make sense. Developmentally, they don’t. </p>
<p>I live in a small city with terrible public transportation (limited hours, very limited routes, can take 2 hours to get across a town you can drive across in 20 min). Nearest in-state public option is 150 miles away. I understand what you’re saying Mathmomvt. I don’t know that regular posters are trying to force a one size fits all answer onto every situation. There just aren’t other answers for a kid who doesn’t have the stats for a full ride or entry into a meets full need school. Does the community college start bus routes the way high schools do? Do they all have to build dorms so students can live on (and if PELL and a direct loan just cover cc costs, where does the student get housing money)? Do we all lobby for more state aid for ccs? I would, but look at anger here from “middle class” posters who don’t get aid. I think more aid for the low income students at ccs wouldn’t get much support. </p>
<p>I work for TRIO. I know what these kids are up against. I know what their success rates are, too, because sometimes the obstacles are insurmountable. And I wish I had better answers than stay local, start at a cc, check out the directional state U (my state has none of those, btw).</p>
<p>*Except that the vast majority of students aren’t (and shouldn’t) be ready for college level work at hs sophomores. Financially, those programs make sense. Developmentally, they don’t. *</p>
<p>I don’t know if the vast majority of students aren’t ready for college level work as HS juniors (when it would start).</p>
<p>So many kids these days are taking AP classes…not all, but a very large number. </p>
<p>Not all HS kids will be college-bound anyway. But, those who are on a “college prep track” could certainly be doing a Running Start-like program.</p>
<p>I have 3 nieces who’ve done Wash’s RS program. One niece is brilliant, one is smart, and the other is very average. They all did it and it saved their parents a bunch of money.</p>