<p>We paid full freight for S1, and hoped to do so with all of our kids. Just can’t do it. When we looked at colleges last year with our third one, we knew that we would have to borrow, scrimp, and use savings, as would our son in order for him to go to some of the higher cost colleges. Even then, we knew that $40K was really the max for us as a family. There are a number of private colleges where the cost is well over $50K. </p>
<p>We focused on those schools with lower sticker prices and those that were likely to give merit money. We did end up with a nice group of colleges, and our son did not feel it was a problem at all to be considering cost in the search. </p>
<p>In the end, he chose a college that was slightly under the top price range in sticker price, that gave him a $10K merit award, worked 15 hours a week at school on campus, got a $2500 outside award, worked hard during the summer to bump up earnings, took a Stafford loan. We did raid some of our savings, went on an austerity regiment at home so that we could pay out of income as well, and borrowed. </p>
<p>Son is ahead of schedule in terms of paying next year’s costs. He is working this summer, worked during vacations and some during the school year, so has enough that he will not have to take loans this year.</p>