Is there any way for your son to take a leave of absence? I know of a couple who have done this for a variety of reasons. He could work and try to earn some money. He could spend a little
More time looking at options if he for sure can’t make the last 2 years happen. It just seems a shame to let go of Amherst in a scramble going to whatever school will still take him.
Yes, please don’t panic and give up on on him finishing up at Amherst before all options are explored. I totally agree that kids can be successful from a wide variety of schools. My sons both went to state schools and both are very successful so far, so I am the last person to think your son cannot be successful at a school other than Amherst. But, this is not just about needing to graduate from an elite school to be successful - he has two years in there already, has made friends, has made connections with professors and employers. And he wants to still be there, and is very upset about potentially having to leave. He does not sound entitled at all. I would encourage you to stay the course if at all possible.
How many credits does he need to graduate? Any chance he could fit them all into 3 semesters vs. 4, thus saving a semester of tuition and also getting a jump on the job market?
I sent you a private message @UVGOT2BKIDDINGME
@deb922, Amherst students all live on campus, except a few per year that may be married, so there would be no savings there.
@4Gulls reminded me of DH’s own history; he graduated in 3.5 semesters because he ran out of money. Zero EFC, full tuition scholarship, but by the time he got to his senior year, COA had increased enough that the GSL (now Stafford) loan amount only covered R&B for one semester. (IIRC, it was $3500 at the time.) He continued his summer internship into the fall to make better $$ and took the commuter train to the far burbs of Philly then hitchhiked the rest of the way to work. If OP’s S came in with a number of AP credits, maybe he can graduate early. In this situation, I’d focus on landing a great internship the summer after junior year for resume and $$ purposes rather than trying to take a course or two at a local (cheaper, live-at-home) college. Again, this is situational to the OP’s S, and taking a couple of classes may be the perfect move for some students where internships are not as critical.
Is he already taking out Staffords?
@4gulls Love this idea. I know he prioritized core classes his first two years for his double major. I’ll add this to my list of questions and options for him to consider. Since his gpa is high, he could sacrifice a little on the gpa need be to graduate early if college is accommodating. But generally speaking, don’t they want to reduce the chances of this happening? They want the money for the last semester…
@brantly spot on…nothing else makes sense. Abandoning the course now would come at such a huge sacrifice. I just can’t imagine the volume of parent plus loans being wise based on my personal financial situation. A huge risk. I’m hoping dad will see the value of the investment.
Could he graduate a semester early if he didn’t have a double major?
If a child is older than 18 and picks an expensive college instead of something free or affordable through merit, aid, loan and work, there is no legal way to hold a parent responsible for payments for his choice.
Obviously all students want to attend best college they can and colleges want parents to pay for it but unfortunately students have to understand their limits, just like kids who get into these colleges but go to more affordable ones because they can’t force parents to pay for designer degree. It has nothing to do with parents being married or divorced, its about will for overspending. It sucks but he is a bright student, he’ll be fine at less expensive colleges as well. If he wasn’t bright than he wouldn’t have other options and it would be a bigger disappointment.
Only if colleges were more affordable for all students instead of giving free rides to half and sucking blood from other half, it would be an equal oppurtunity for all students, regardless of what their parents can or will agree to pay.
If it doesn’t work out with the father paying, I think I’d recommend taking a leave in the fall with the hope that either the FA will come through in Jan, or do a study abroad program in the spring. Yes, the EFC will not go down and the student/family would still have to pay up to $23k (1/2 of $46k), but the cost of the study abroad program may not be that much. It seems like it might be late to arrange that for this fall, but by the spring?
I feel for OP. Taking on a Plus loan while still paying on her own loan is a lot. This isn’t the son’s fault, but $50k is a lot to ask of a parent for one kid, especially since there are two other kids who may need a little financial help too. If I were in this situation (and I could have been if my daughter lost her FA) I’d have to say no, we as a family can’t afford to be $50k in debt (plus the other $20k per year already committed to Amherst OOP every year).
That’s a lot of money to expect a new grad to pay on a Plus loan not even in his name upon graduation.
@sevmom Your message means a lot to me. Thank you.
I too went to a state school and I am not an elitist nor is my student. I just know how very hard he has worked to get to where he’s at. And not once have I pushed him, he has pushed himself every step of the way. This is the kid that worked at Subway in high school to pay for his own AP study guides and the kid that worked in the school cafeteria so he got free lunch. He has worked so hard to get here and I feel I need to pull out all the stops to get him to the finish line. The last three days have been a torture. Stress to the max just trying to figure out any way to make it work (him staying at Amherst where he chose to attend).
Thanks for your encouragement and support.
@turtletime agreed…it would be a shame to leave Amherst at this point. The last two days I’ve been calling state schools trying to determine what there deadlines are for transfer student application, etc. Best option I’ve found it UMASS Boston. I think it would feel like such a defeat for him to abandon his dream and change course. I’m not implying this is a bad school, but any switch at this point would be defeating.
@thumper1 He is on course for a double major, Math/Econ. If he abandons this course and chooses single major, maybe he’d be ok with 3.5 semester. This is an option we’ll discuss.
I see some people have mentioned taking a year off. This might be a good solution if he can bring in and save $$$.
Not everyone goes four years in a row.
OP, try not to beat yourself up. We could have been in your shoes. There were a few days when I was busy trying to figure how we would stretch and pay for our D to attend her #1 pick. It was a LOT of money for us, but maybe, just maybe possible?
Then, reading on here, I was reminded to look at the four year cost with the NPC. Sure enough, taking my oldest kid out of school and having one in college instead of two, shot the COA up through the roof. We were saved before committing to something we would not have been able to fund for four years. The first year? Maybe. Years 2-4? No way.
I hope it all works out for you, and your son. Wishing you the best. I hope you will update us after your son speaks with his father.
How much has your son borrowed already (Stafford loans)?
How much additional would you need to borrow for your son to complete the final two years?
Let’s do the math and figure out what the monthly payments are likely to be and whether those payments will be feasible for your son.
If I’m reading this correctly, the OP has twins one of whom has decided to go into the trades instead of college. In one of the first posts, she said that she had another child who graduated lcollege this year. I’m not sure if she meant the twin or there is a 3rd child but it doesn’t really matter.
So when this kid was choosing colleges, they might have thought that they would have 2 in college for the entire 4 years, therefore the cost basically staying the same.
Now I’m pretty sure the OP didn’t understood that once one child was no longer in college their aid would double. But there they are, trying to figure out how to pay. Need based aid can be great but there are pitfalls which should be a learning lesson for others.
(Trying to keep things organized as to what is going on 7 pages in)
Actually…how much in loans has your son already agreed to repay to you…if anything.
How much in loans will he need to take in EACH of the next two years?
@deb922 Yes, twin was anticipated to be in college as well but chose a different route. I respect her decision to go trades. It’s a great fit for her. Yes, I have an older daughter who just graduated from college May 2018. 3 kids total. Yes, I had no idea cost would double with my oldest graduated.
My son has not agreed to repay me anything. I have refused. Moving forward if I take loans we may need to work together to repay them. He has not taken loans yet as we were able to pay the tuition in full prior to price tag doubling.