@mommdc My son did not apply to Miami OH, good info though. I thought someone on here applies there. My son only applied to schools in the North East.
@STEM2017 I don’t think it’s a bad idea to let your son borrow some cash. Maybe you’ll only actually do it the first few years and then you might be sitting better financially. A small loan to payoff after school is no big deal. If he gets a decent job he could pay that off fast. Some companies are ever offering to pay off some student loan debt as a hiring incentive. He could also try to live frugally for a few years after school and pay it off super early.
@STEM2017 - No not a bad parent… DS13 is in engineering, has had co-ops to pay for food,books and other stuff, plus hope scholarship for tuition and we still had him take out a couple student loans to help pay for housing… We have 3 kids and we are assuming he can pay off his loans when he graduates. If he really gets in a bind after graduation and has trouble paying it off then we probably help if needed.
@STEM2017 I’m with you. I was back and forth but ultimately decided it would be good for D to take the loans so she has a stake in the game. As hard as I’ve tried to teach the value of money and feel she understands the value of a buck, I don’t think they can truly fathom what an expensive world we live in. That said, like you, I will help if needed and I think that’s fair!
@soxmom and @STEM2017 I’m right there with you. We are still waiting on all the UC’s, NYU, Fordham, Lehigh, etc… plus some back ups that probably aren’t in play now with where she’s already been accepted. The waiting is KILLING me. Trying to plan final visits is impossible when you don’t know where that might be. Spring break is the first full week in April, so it’s going to be a bum rush to make travel plans. I hate this part. All early action with the next kid.
@STEM2017 I don’t think you’re a bad parent. We are likely having both of our college students take loans. We’ll probably pay them off, but cash flow is going to be rough with two in college at the same time. I think the loan amounts they can take are very reasonable, nothing wrong with them having a stake in their educations.
@stem2017 This does not make you a bad parent at all. College is expensive and if that is going to help you/him then it is the right thing for your family. When I went to college 10.000 years ago when I started it was $700 a semester and when I finished it was $1200 a semester so it almost doubled…crazy and that is so cheap now.
My DS was accepted to Miami OH (not going) but that tuition promise is great!!
This waiting is making me crazy, next week they will start to come in for my DS. University of Washington sent him a message that they would come out between the 15-31 nice small window and a couple of others are next week I believe. Not sure when the UC’s come out or the others he applied to. He has some good options but it would be nice to know all so we can plan. He is playing tennis so he is really busy and not worrying about it like I am or at least I think he isn’t
@STEM2017 you are not a bad parent at all. Many kids have loans, which I believe is the norm. I think some parents are more open about talking about it then others. Right now our plan is for no loans, but we will revisit it when the time comes. Having to put 3 kids through school in a 8 year span is going to be tough and I am choosing to not think about it.
I think we’re going to have her take out a $5500 loan for her living and out of pocket expenses. H is the money guru, and I think that’s his plan (I haven’t asked him about it lately).
Speaking of that $5500 loan, that’s the only “financial aid” that UMD offered D17. She got an email that said her award was available, and when she finally got to the award page, that was it. We were like, thanks for nothing, we know how to take out a loan. :-w
@socalmom007, I haven’t even thought about trying to plan visits to whatever schools he gets into, ack! If he doesn’t get into on of his two top choices, then there’s a whole bunch of schools that are pretty similar in his mind and many of which he’s never visited. It would be really hard to figure out which of those to visit if he has options.
@Ynotgo Our son is taking the AIME test today too. We’re not too up on what that is all about honestly. He said about 10-12 kids at school moved on to this part of the competition. Robotics regional starts Thursday - a lot of school missed this week.
For anyone wondering how easy it is to get an insurance waiver at the UCs, we found out last night that we had to update our insurance information because our plan numbers had changed at the beginning of the year. The waiver had been denied for spring quarter because the old info was used. This morning we got confirmation that the waiver was approved. That was surprisingly quick and easy! As long as you have a qualifying plan, it ends up being pretty painless.
As for going to accepted students days, most are April 8th for us, so we won’t be able to go to many obviously. He should have it more narrowed down by then though and don’t really need to go to UCSB since we know that well, so it makes it easier.
@soxmom -The wait is also driving me crazy. With the added stress that D’s school sent out a transcript with the wrong GPA in the mid year report, I really wonder if she will be accepted at any other school, as they did not deal with the situationa in a way I was satisfied with. I have encouraged her to register for accepted student days at the two school she has heard back from but she hasn’t done so. She is waiting to hear from 11 schools and would be absolutely thrilled to attend 4/5 of them. She should hear back from two schools next week. Lucky girl wil be in Paris with DH so hopefully I will receive excited phone calls or emails. I am annoyed that DS has a different spring break again this year but we are pulling each kid from school one day so we can take a family vacation.
@youcee – I think the ease of having insurance plan approved varies by school. The university evaluates the plan design and if they decide that the local area coverage is inadequate, they can insist the student enroll in their student health plan. I have seen costs in the $2500 to $3500 range so far. So if family has a plan w/o a national network of providers, student may end up having to pay for additional coverage.
Our younger two also have different spring breaks from D17 and S15. We’ll be pulling them out of school to go find their brother a college apartment and probably for some accepted student events for their sister. Many schools are April 8th, which is hard. We also have dance competition that weekend. Cal Poly accepted student days are the 6-8th as well. I’m hoping it becomes more obvious where she might be going as we move through March. I do not enjoy the uncertainty.
@STEM2017, Definitely not a bad parent. Sometimes the “skin in the game” keeps the kids focused on school. S would have had to had the loans if he picked a private school as first choice. We did all laugh at the way the subsidized loan was given as an “award” along with the merit aid awards!
@STEM2017 No you aren’t a bad parent and we all have our own lives to live. We have chosen to not have the kids take out loans in year one or two. We didn’t want to start their college journey in debt. That is not to say that they may be a real possibility later in years 3 and 4.
While I sincerely hope that my children continue through and eventually graduate, it would be hard for one of them to end up dropping out or change directions and have a loan payment due.
I am starting to worry about paying for a fifth year if my daughter does early education, with a straight path to her masters in 5 years.
@stem2017 Totally not a bad parent! Speaking from experience, my college education was financed through a combination of things: merit, financial based need, what my parents were expected to pay, and the recommended loans of which I assumed. I had no problem paying off my loans with the job I got upon graduation, and they were way more than $5,000 we’re talking 27 + years ago. I never expected or would have wanted my parents to pay for my than they could comfortably afford. I got the financial burden back then, and I think most DC do.
@STEM2017 If you’re a bad parent, I’m one too! We’re definitely planning to have D17 take out her federal loans if she goes to a private college. We may wind up paying them off for her, but at the very least it kicks 20k+ down the road for 4 years. She will also have to work full time for our family business over her summers.
D is still waiting on results from 5 schools. She’s in a good place though, with affordable state school options and the early write to Smith already on the table.
Next up to hear from is RPI on Saturday! We’ve got a few kids in here waiting on that one, yes?
I’m with you, too, @STEM2017 . A couple of schools that have already provided their financial aid packages are still coming in just over our budget. We could probably cover it, but if he chooses one of these schools then we’ll have him take out $3k to $5K loan for at least the first 2 years (when D graduates) to cover the balance and get him invested.
@youcee Good to hear on the insurance waiver process. Good luck to your son on the AIME today. I hear it’s one of those tests where if you get any score, that’s a good job. Our school only had one qualifier, so he said he is taking it in the nurse’s office.
@STEM2017 Skin in the game sounds quite reasonable. I’m also voting “not a bad parent.”
My D17 will probably not need to take the federal loan, since she is taking the Big MAC from Oklahoma. If she made a different choice, she would be taking the loan.
In my view, this is a team effort. The kids and I work together to make college feasible. I think it is good for them to pay a part, through working, loans, and scholarships.
