<p>My daughter was deferred to UVA. I am actually happy that she was deferred. Let me explain … </p>
<p>My income knocks my daughter out of any financial aid from UVA. Unfortunately due to bad planning, bad luck, a large family and an extremely disabled child I am knee deep in debt and have bad credit. </p>
<p>It seems that the cost of attendance is $22,000 a year at UVA in state. My daughter can get $5,500 in loans as a dependent student, plus another $4,000 in loans due to the fact I will not qualify to co-sign Plus loans.</p>
<p>That leaves a $12,500 gap. I don’t have that money saved up nor do I have $12,500 in disposable income to pay the gap. </p>
<p>Fast forward - UA gave my daughter a free ride on tuition plus a $2,500 a year engineering scholarship. The gap between scholarship, $9,500 in loans and the cost of attendance is almost zero. My big cost with the University of Alabama will be getting her there and home since we live in VA. My daughter is already in UA Honors College.</p>
<p>I know the argument but UVA is a better ranked school. Maybe so but when I visited UVA, William and Mary, University of Maryland none of the schools sold me on why they were better academic schools over other schools. I cannot tell you why one school is better than another other than Newsweek says so … </p>
<p>You always want the best for your kids but is Newsweek ranking all it is really cracked up to be? I went to a small school in the middle of no where Appalachia and I make a good salary, 6 figures plus. How much debt is right for your kids - you will not get any help from the top ranked schools unless you are low income or your student is beyond perfect.</p>
<p>If you have money to spend on UVA or low income by all means go there. But for those of us caught in the middle are Universities like UVA really right? Do you really want to co-sign a Plus loan for your child and then have life smile unkindly on them in ways you could never foresee (divorce, unemployment, family expenses). Then you are on the hook for the loans?</p>
<p>Think long and hard about UVA and what you are getting… </p>
<p>Btw - We had not visited UA due to the distance and the cost - we will go in February!</p>