<p>I just read that another post that said the vast majority of the students at private four year schools are paying less than 30K per year. As an informal survey what percentage is your student paying at a four year private and is the price break due to merit, need, or a combination thereof?</p>
<p>I’m guessing roughly 20% of those who visit us here at “Parents CC” are paying 100%… or does that seem high? This may be skewed because I think more folks here have higher incomes than your basic cross-section of U.S. parents and thus kids attend the Ivies and other schools that don’t give merit aid. So my guess is that 20% of respondents will be in the full pay catagory.</p>
<p>I’m paying 100% for my kid at a private four-year school.</p>
<p>Daughter attends small, private LAC in Iowa. Scholarship and fellowship cover 60% of the FULL cost of attendence. 20% is need-based work study and govt. loans. 20% paid by mom and dad out of pocket.</p>
<p>We’re paying 80% of freight at a private small university in NY. Merit covers the other 20%. No need-based aid.</p>
<p>Our estimated EFC was about $38,000 and I haven’t researched private schools with total costs under $40,000 so I assume our entire “financial aid package” at a $50,000 private school will consist of loans kid has to pay back, loans parent has to pay back, and kid work-study…so I will be paying 100% for the first kid.</p>
<p>We’re paying 100% at a private.</p>
<p>I would guess the percentage of 100 percenters might be higher than 20. We are paying roughly 60 but that is due to merit money.</p>
<p>To the OP: note that the source you reference may have related to tuition only, I’m not sure. But that can confuse people. “Less than 30K per year” towards full COA is a hefty discount off of many privates. That same figure is only a slight discount off of tuition.</p>
<p>Anyway, we pay 100% of COA at a four-year private. Before he had to transfer, we paid about 45% of COA at a four-year private - all of the savings were due to merit aid.</p>
<p>Our son attending a private university with three merit aid scholarships funding 70% of tuition. He is paying for most of the 30% from a college savings investment account which is now in his name and which he is managing. I think that there is about $55,000 remaining in it at the present time.</p>
<p>130% (our kid seems to cost much more than most…) at an Ivy.</p>
<p>100% out of pocket, and everyone we know thinks we are idiots. (We do have some wonderful state options in Virginia, and they might be right.) Some comfort: eldest son is a junior and it will all be over soon and he seems to be maxing out every good thing at his university, and appreciating every aspect of the place. We also “Planned” Ha to have second son four years later…so we get a “do-over.”</p>
<p>We’re on the “Chedva Plan” for DD. We paid 75% of total costs (that’s everything…not just tuition) for DS.</p>
<p>Ummm…aahhh…er…well…uhhh…what was the question, Senator?</p>
<p>We’re paying 100% at a private for our DS.</p>
<p>We are paying 100% at a private–and son could have attended our state flagship Uni w/a full tuition scholarship, room and board, books, a $2500 stipend each summer, and laptop. He did not even apply-too close to home!</p>
<p>I nieghbor of mine who has been through this college thing with four kids and has told me to expect to pay 60% of the costs at private colleges if, (and it is a big IF), your kid is bright enough to garner merit aid (as her kids have been) or attend as a URM. But…this was done by her shopping around and her children being flexible enough to take the last and best offer. Even with a combined income of 170K she sought out and found bargains at schools that were pretty good fits for her kids. Nice to have flexible children. On our last visit we had been on the campus about 10 seconds when my DD declared, “THIS is my first choice” No football team here for her DDAD and worse stingy with merit.</p>
<p>Mr. Curmudgeon- You are directed to answer the Senator’s question… or go ahead and take the fifth as the apparent minority party in this discussion.</p>
<p>Merit scholarships cover about half of our son’s tuition–and it was his first choice school. We feel fortunate.</p>
<p>Nightingale, my daughter was fortunate to find a private school that valued her attendance enough to award her a scholarship/fellowship that pays tuition and fees, room and board. But she was smart enough to research the heck out of her schools so that when the opportunity presented itself she knew what was best for her. A bit of luck and massive preparation. Works well in most everything. </p>
<p>She’s stomping on the terra. (Was this past week nominated by her school for a prestigious national undergraduate science scholarship. Who knows? Maybe she can give them back a little cash before she’s done. ;))</p>