College applications: What I've learned as a parent the second time around

TooOld4School
Fri, 15 Nov 2019 20:08:43 +0000

Our main lesson was in finances. The financial aid calculators were all wrong because of self-employment and capital gains, and we ended up being full pay , so state schools looked a lot better. Our kids started during the great recession, and neither wanted to take out any loans, and state schools looked better yet. Finally, we had purchased our state’s prepaid tuition program, which helped tremendously when the markets tanked. The youngest is graduating next spring, and none have any debt, nor do we parents. Thanks Michigan!

Now we have the luxury of stepping back, both of our kids are applying to grad school this year. One has saved enough for B-school by working , the other is looking at fully funded Ph.D. programs. Just in time for my wife to retire!