Parents of the HS Class of 2016 (Part 1)

Parents of HS Class of 20xx
11061

Thanks for the input. @mstomper, in our son’s case, his GPA is higher than his SAT/ACT scores reflect. @RyanG1207, yes, they only ask for a high school transcript that shows he graduated at the end of the year, but the problem is that in our county they earn semester grades, so there won’t be a way to change the grade once he receives it.

I don’t think this course grade is a result of senior slump, since he does all of his homework and did voluntarily retake a few quizzes to get his grades up…it’s just that it’s too hard for my son and he kept saying it wasn’t until it was too late. From what I can tell, it seems like it’s worse to change a class after applying than to get a low grade, so we can’t make a shift now (other than hire a tutor, which he will probably resist). He won’t end up failing the class (at least this semester), and he could graduate without passing it.

At this point, we’ll just keep urging him to go to his teacher for some additional help through the rest of this semester, and if that is useful maybe he’ll learn his lesson for the future (eventually!)? And if he does get the D first semester but really improves for the final semester, maybe they’d take that into account. I’ll keep my fingers crossed that he can hold on to the C grade, then for the last semester we’ll keep closer tabs on his progress.

@readingclaygirl I’m sorry to hear you’re in the same bind - it is a very stressful situation especially this close to the HS finish line! Good luck with the rest of your semester, and I hope it works out for you.

11062

@2filles Do you recall if they said it was a taxable event? I am hoping/thinking it’s not since it’s going into a 529?

11063

@2files and @fretfulmother

I have a friend who was trying to figure out the UTMA. This account was in her son’s name. I am not sure what happens if it if in the grandparent name with the kid as beneficiary. But in her case the UTMA would be assessed at 25% because it is a student’s account. Student assets are consider fair game for college tuition. If the money is rolled over to the 529 it is a parent asset instead of the student’s, and the schools only use 5%. In my friend case it changed the tuition amount from $8000 to $18,000 depending on if out was kept in the UTMA. The UTMA giving the higher amount.

I don’t know of this is what your are taking about, but though I would pass it on.

11064

@LKnomad - yes, that’s helpful. In our case, the total in the UTMA is around $6K. The differential between parents’ and kids’ assets seems to be about 15%, or $900 of that amount available for tuition use. However, it’s in a Janus fund that does not have a 529 option, and if we were to liquidate it and put it in the 529, it looks like we’d generate a taxable event of capital gains on about half the amount because it is an old account with over 6% annualized returns. Maybe a $500 tax bill? And forgoing those higher returns in the future and/or any flexibility for his use of the money in the future.

DH had the idea that DS should instead use his summer savings to buy a computer now instead of waiting until summer, and then the “snapshot” will not be quite as much larger for the FAFSA. I think that could make sense. What do you all think?

11065

@fretfulmother it make sense to remove anything you can from assets. Buy that computer! My husband opted to buy new equipment for his business in 2015 rather than wait because it would both reduce our income and reduce our assets. This equipment was badly needed but we had to decide between funding purchases over several years, or just paying cash now. We opted for cash, especially knowing that tax year, 2015 was good for two years.

The problem with liquidating is the combo of capital gains and increased income. Luckily (or not so luckily depending on your view) you are dealing with a small amount, that won’t put a huge increase in your EFC.

I swear I have learned so much about banking these past few months as I prepare for the FAFSA/Profile.

11066

It’s really easy to forget about any UTMA for one’s kid held by a relative. We’re proof. Our D16’s is supposed to be used for enrichment, like a senior trip, not for college.

11067

Last summer a friend advised me to make sure my son spent some money he had before the end of this year. It wasn’t a lot, but he did buy his laptop for college. He was so happy when I walked in - in the midst of slogging through the apps - and suggested we go to the Apple Store.

11068

Definitely not easy to keep up with this thread. It’s only Monday and already feels like a long week at work. Hard to go back in the cold after some time off. Tonight I baked a real (not virtual) birthday cake for DS for tomorrow. It is cooling in the microwave so the cats don’t nibble at it. :expressionless: Just realized last night that one of DS’s schools requires first quarter grades in addition to a mid year report. Our HS has a specific request form for that and requires something with the school name on it to verify that 1st quarter grades are required. Got the form and printout for DS - hopefully, he’ll get them handed in tomorrow. Sometimes DS doesn’t follow up right away. . .

11069

@lknomad, so pleased to hear that homeschooling is working for your son!!
@Skates76, I laughed when I read this comment: " She is an incredibly good standardized test taker, as is most of our family, though unfortunately there are no standardized test careers to go with that skill." because I say something similar about myself all the time. I might have peaked with my PSAT :wink:
@carolinamom2boys , well, we are waiting for an admission decision from a Southern school in the city where I was raised. :slight_smile: On the other hand, it is true that my daughter is less enthusiastic about the South. Perhaps because so much crazy family is there, haha, but probably mostly because she loves western mountains.

11070

I apologize ahead of time…I missed one day reading this thread and there were 10 pages…and for some reason I feel the need to respond to many comments! Sorry for the length of this…

Regarding top-tier lottery schools - D14 wanted to go to a college where everyone was smarter than her (she was top of her HS class). She did ultimately pick a lottery school - but almost didn’t on principle because she is VERY opposed to “name brand” anything. It ended up being a great fit for her. When asked where she goes to college…I answer “she goes to college in such-n-such state”…and avoid naming the school unless completely pinned down, partly to honor D’s opposition to “name brand” and partially to avoid various viewpoints and opinions. She chose where she wanted to get her education from - surprisingly a choice that should be made by the student and not judged! I love this thread because everyone is so supportive of the parent’s and the student’s journey no matter what that is!

@2filles The Sunday BBQ for parents will also kick off 2 weeks of AP testing (that begins the next day) for any students that will be going through that. It never ends (but dessert with booze in it may dull that upcoming 2 week marathon that some of us will be involved in with our AP kids).

@deborahb Glad to hear about Tulsa and it being a good choice for your son. If you have more thoughts to share, please PM me.

@me29034 Although S16 has been blessed with really strong test scores…he is my 4th child and the only one that has such strong stats…so I hear you and appreciate being reminded that we need to be sensitive about every student’s academic journey here.

@Skates76 My oldest (S11) had an IEP/504 for ADHD. Brilliant kid, but much disconnect between ability and performance. Has crashed and burned in a couple different college situations (we foolishly sent him off to an LAC in a different state - he didn’t return after first semester), now at age 22 is just working and not taking college classes. He may get his AA degree by age 30. Kids are all different, need different supports and will take many different paths.

@carolinamom2boys We live in the northwest, but S16 applied to 5 southern schools (southeastern actually)…so count us as those who do NOT look down on southern schools!

@RyanG1207 Look at UAHuntsville (4500 students, 1/3 are engineering). It has an automatic merit scholarship grid on their website. With a 1450 M+CR, if his GPA is at least 3.5 he would get a merit scholarship for 100% tuition. Worth a look. Deadline has not passed as far as I know.

@eh1234 S16 applied to schools in many states…all 1000-2500 miles from home. I finally “made” him apply to one school in the next state with really good automatic scholarships, just so he would have a choice within driving distance in case his views changed in the next few months. He is not likely to attend, but we visited it and he said “I could go here for 4 years”…so it is a back-up, back-up plan!

@lifegarding Call those schools and ask admissions…you do not need to identify yourself or your S, just give them the grade situation and get clarification. That would hopefully reduce your stress and give you a clear picture. Also, talking to the teacher, asking for extra help, getting last minute tutoring …explore all options to nudge that grade a little! Finally, dual enrollment grades do not also count for HS grade? They do at our HS as they have to first fulfill HS graduation requirements. That is unfortunate since those A’s would help alot!

@2filles Regarding UTMAs being converted to 529s…my understanding is they will become a “529 UTMA” which is still technically considered a students asset (because it was funded with an UTMA).

11071

@Themommymommy, my oldest is using my husband’s GI Bill benefits. It’s a fairly limited program, though great if one qualifies. The service member has to have bought into the program (I believe the only opportunity is when you first enter the service) and served post-9/11. There are some additional requirements too.

The yellow ribbon bit is school-specific. GI Bill only covers in-state tuition in most cases, and about $20,000/yr for private schools, with some exceptions, plus housing allowance that varies according to zip code. Some schools, however, choose to participate in the yellow ribbon program and offer additional scholarships to those attending on the GI Bill. Some of the schools are very generous!

My daughter’s school does not participate in the Yellow Ribbon program, and we are on the hook for the difference in in-state and out-of-state (which is significant! About $17,000/yr). The clinic also doesn’t accept military health insurance (and few private providers in the area do either) which has been an issue for my daughter, who has chronic health problems.

Part of my desire to be much more involved in the college search for D16 than I was with D13 is that I have become much more aware that we could have done significantly better financially had I paid attention the first time! The helicopter blades are spinning now, motivated by money, lol.

11072

thanks @4kids2graduate for the tip, I think I will call the 2 schools anonymously to get clarification on whether a D would put his acceptance in jeopardy. I know if he was going to a top-rated school, or previously a student who never got any C’s it might be more of an issue, but I think the schools he applied to are possibly more accepting of a low grade if it’s in a challenging course. It would ease my anxiety, too, to know how they will react to it…even though I’ve already told S he needs to buckle down and get help or his acceptances might be in jeopardy, since I don’t want him to slack off :).

11073

Does anyone know if a list will be created once our DC make a final college choice? I know there is a thread for all acceptances, but didn’t know if that thread will also list each final choice, or if there may be another list to do that.

11074

Last application is in and now we just wait. What an essay marathon it was! 16 applications, including 6 UCs. Last minute she scratched one school with the weakest CS program. They emailed her to extend deadline, but she is done. Going back to school next week. For now her and her partner in crime, grandma, are exploring old culinary recipes. Today they baked a cake. Tomorrow they plan to make ravioli from scratch.

11075

Some state schools are now extending in-state tuition to veterans. There’s a big push to be known as “veteran friendly”- though that definition varies widely depending on who’s doing the defining. For example, USNWR’s list of top veteran-friendly schools is composed primarily of Ivies. (?)

11076

The law involving the GI Bill was changed in this last year so that schools that accept veterans in a specific set of circumstances, who are also utilizing the GI Bill, must offer them in-state tuition. I can’t remember the exact conditions; I believe it’s a newly separated veteran who relocates to a different state, so that they don’t have resident tuition.

I do know that it did not apply to our daughter. We had initially been given erroneous information about that, so up to the time school started this year, we thought our share of the bill was going to be significantly cut. It was terrible when we discovered the truth, as it coincided with us having to take on significant monthly out-of-pocket expenses for her chronic health issues (again, with the difficulty finding providers that accepted military insurance in the area…Seattle, actually, not even a small city.)

Oddly enough, my daughter’s other top choice back when she was deciding in 2013, Bryn Mawr, offered an excellent deal to GI Bill participants. It essentially would have been free. I would not have pegged that school as one to be military-friendly. However, D13 ended up deciding against Bryn Mawr, because the program for her major was better at UW. The right choice in the end for many reasons, though money was not one of them :wink:

11077

@GoodGrief16 I share your frustration with veteran’s scholarships. It’s frustrating to me that my husband served in the military for over 20 years , but because he retired in 1999, prior to 9/11 , my son is not eligible to use any of his benefits. Rant over. /:slight_smile:

11078

@Ballerina016 Super Congrats on your D finishing up of all her 16 applications…truly an awesome feat! My D completed 1 less and that was definitely a feat. =D>

My D has one scholarship application to complete by 1/15 and I fear that it will either go right to the deadline or not get completed at all…which will distress me to no end :(( . I plan to do everything in my limited power to prevent that from happening…but…truthfully there is only so much I can do without doing it myself (and that would be pointless because I cannot write anywhere as well as my D and therefore the scholarship application would be a dud). I do not know about any of your children but my D vacillates back and forth between understanding the importance of scholarship (and merit) money and then thinking it will all be no problem in the end. I try to bite my tongue and not get crazy because I know that she is juggling so many things but there are moments when I want to scream “do you know how much money is at stake here”? So far I have been able to resist…if this application is not done by 1/13, I cannot vouch for my ability to remain calm and happy…

Regarding the money in kids names…luckily I read a book (I do not remember the name) when my S14 was a sophomore that stated to drain any money in kids name by 12/31 of their junior year which I did. This is because for financial aid they apparently count money in kids name as 55% going to college whereas much less of a percentage of parents money. Supposedly they do not count parents retirement accounts either (so if anyone wins the lotto…put the maximum allowable amount in some form retirement account (401K, IRA, SEP, ROTH, etc.) they even have allowances if you are over a certain age that you can put in more than the typical thresholds as a catch up bonus sort of speak. Another tip in this book (which I am loath to admit I really thought of) is that if the student is married the parents income is not considered at all even if they live with for free either the “brides” parents or the “grooms” parents. I hate the thought of mocking the institute of marriage but with the amount of money this takes into consideration it does make one think once…maybe twice. No I did not attempt to cajole S14 or D16 with this option but who knows, it may just fit for someone’s child/ children (whose situations may be different because of other circumstances). It may just be the help that some student or potential student out there may qualify for and need.

@carolinamom2boys, I feel that is disrespectful to your husband’s service. He still served his country and it should not matter that he retired before the tragedy of 9/11. We owe our veterans and military service people a huge debt of gratitude and this is not the way to show it!

11079

Like someone else from this group mentioned on the acceptance list, we too are chasing merit aid with a butterfly net. So @lvmjac1 I am with you on the level of frustration over the scholarship applications. I am having the same struggle with my DD. I tried putting it in “hourly wage” form for her which did not seem to make the impression I would have thought it would. Maybe the numbers involved in paying for college are so huge they become sort of difficult for the kids to really contemplate. I am considering turning off the internet for everyone but myself in this household until the essay is written.

With regard to the UTMA accounts, I am wondering about those as well. They are not huge but are invested in a fund that gives pretty good/steady returns. I had figured that maybe I would just leave them be and by the time the kids were out on their own the money might amount to the kids’ 2-3 months living expenses savings/safety net. Not sure if that is allowed though.

11080

@RyanG1207 - depending on budget, Kansas State University may be worth a shot. There still may be some merit money available, but if you look at tuition for OOS compared to many other schools, it’s much lower than most. It’s also one of the best engineering schools out there, has strong ties to many of the aeronautical greats (Boeing, Raytheon), and has a nuclear engineering option that is out of this world.