Financial Aid in Future Years

mom2collegekids
Thu, 10 Jun 2010 14:52:57 +0000

^^^

When the younger sibs are in college, D1 might then qualify for aid (because family contribution will drop.)



*Where my wife and I struggle mightily is in trying to define a commitment we can make to the first that we can live by with all of the kids *

Completely understand this. You don’t want to be one of those parents that breaks the bank for child #1 and then has to tell the younger sibs that there’s no money or much less money for them.

Some parents in your situation (multiple kids) have the following position… They’ll tell their kids that they will pay the equivalent of their state school (either tuition only or the full amount) and if the child wants to go elsewhere (for more money) that child will have to find schools that will either give grants, scholarships, or small fed student loans to make up the difference. I would not agree to allowing large loans to make up the difference.