<p>@keylimepie Thanks, great positive information. It’s good to know that there are various aid options out out there. </p>
<p>Over the years I have read lots of information about financial planning when it comes to college. They almost all say all but the extreme rich parents should not pay or save for their kids college because the students have many years to pay of loans while parents in their 50s will sacrifice their retirement. Put every nickel possible in retirement savings now college funds… Also, paying off house, not good when it comes to college time (I forgot that one) </p>
<p>That being said, we are still willing to pay up to $20k a year for a high end school. So with student loans and merit and maybe a spot of financial aid perhaps we could hit that number at one of the private schools he is applying for. </p>
<p>But it sure would be hard to turn down a no aid offer at one of his reach schools - Duke, MIT, Columbia.</p>
<p>My son has not been accepted at Michigan (just sent out common app) but I am positive he will get in. He is far above their minimum requirements. He is also applying at Michigan State Honors program, Texas, Georgia Tech, and North Carolina U. as OOS safeties.</p>
<p>Things sure have changed since my youth. My parents encouraged college but refused to pay. Somehow by working 15-20 hours a week during 10th - 12th grade after school, summer work, loans, and side jobs I paid my way. My mom slipped me some mad money but that’s about it.</p>
<p>Now we encourage our son not to work regular so he can put his 4 - 5 hours of studying each night. My fear is once he is all done he won’t know what this work thing is.</p>
<p>4 or 5 hours of studying was more than the total amount of studying I did during high school and I somehow was in top 25% of my class. Lots of duds in my high school with the big dream of getting a job on the line at one of the big 3. But I digress…</p>