Denied Financial Aid

ExieMITAlum
Sun, 13 Mar 2011 01:03:31 +0000

I’m hearing from a lot of parents in that position. It’s stunning and heartbreaking. Remember - full pay means approx. $45K-50K per year after you pay airfare, books, technology fees, dorm activity fees, allowance, incidentals and parent travel to visit the school. There’s the cost to purchase or rent an instrument, sports equipment, etc. Our D’s school sent students to Europe and the unbudgeted expense was $2,400 plus the cost of a passport renewal (add $125).

So I KNOW some of the CC parents getting acceptances but no FA can’t pay or borrow that much money. In some cases it’s 100% of their annual gross income.

Which is why I don’t know why some schools do that. How cruel to send a letter of acceptance to a kid who becomes elated, and a separate FA letter to the parents that pretty leaves it up to them to squash their kid’s dream? One school website says that due to the economy, most banks have gotten out of the private loan business. So what are parents without funds supposed to do? Pole dance for tips?

I wonder if Bravo TV wants to do real housewives (and husbands) of Boarding School. I hear the pay isn’t great but it would certainly cover a year of tuition. :-0