Not enough money

iVillage Member
Registered: 03-27-2003
Not enough money
17
Wed, 03-21-2012 - 6:42pm

Hi

My son applied too-his first choice, basically his only choice.

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Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999
In reply to: ckjd
Wed, 03-21-2012 - 10:13pm

<<>>

Well, there ARE ways to afford a good education.

iVillage Member
Registered: 03-13-2012
In reply to: ckjd
Thu, 03-22-2012 - 2:41am

Yikes. I'm assuming you mean Stafford Loans when you say "usual loans"? So, the $18,000 that you would take out would be on top of those? Honestly, it might be time for him to rethink his choice of major (and school).

Unless he's

iVillage Member
Registered: 10-16-1999
In reply to: ckjd
Thu, 03-22-2012 - 5:41am
I agree with sabrtooth and ThousandPlateaus... its time to rethink this decision or enlist. And enlistment isn't all that bad of an option... after spending almost five years as an infantryman my son is going to school on the GI Bill at a school that would set him back over $25,000 a year in tuition alone, never mind materials and room and board. However, not only will he graduate debt free, but he is getting enough of a stipend that he is living in a nice studio apartment less than 200 feet from the beach and doesn't have to work while he is going to school.
If programs offering this major are so few, what is the job market like in this field? It would be pretty sad if all that money is spent on an education and he finds himself without the means to pay back his loans. And speaking of loans, do you really want to find yourself $70,000+ in debt on one child's education (assuming you would have to take an equal loan for each of four years) and put your retirement and future financial security at risk? Considering the number of high school grads that change their major at least once before finishing college, I would strongly suggest he get his Gen eds out of the way at a more affordable school and if he still wants this program a year or two from now, THEN go to the pricey school.
As for your question re getting a good education - it's very possible to get a very good education at a much less expensive school if the student and/or his parents get the notion of a prestigious university out of their minds and focus on the education. Odds are, 10-15 years from now, nobody is going to care what school your son attended. Maybe even less.
iVillage Member
Registered: 02-14-2000
In reply to: ckjd
Thu, 03-22-2012 - 9:40am

I agree with the others that there are lots of ways to get a good education and it doesn't have to be at a pricey, private school. My older ds started out at a state school but then changed majors part way through so transferred to a school with a better pre-med program, which happened to be a fairly 'prestigious' school. And he did well there and got into med school. But experience wise he hated it. Everyone was so competitive and 'snobby'. He enjoyed the public school hands down. Unless your ds has his heart set on a major that is only provided at this school I'd encourage starting at CC or a state school - the first couple years are mostly gen eds, anyway.

Pam
iVillage Member
Registered: 11-28-1999
In reply to: ckjd
Thu, 03-22-2012 - 11:00am

We could not have afforded to send out kids to a private college unless they got huge scholarships.

Avatar for suzyk2118
iVillage Member
Registered: 07-30-1997
In reply to: ckjd
Thu, 03-22-2012 - 12:22pm
(Pam, FWIW, a friend's son went to the school we talked about here for med school that Jason was looking at - and hated it for undergrad too - same reasons - he's still waiting to hear for med school. His younger brother is also there now premed and enjoys the challenge but has no friends)
iVillage Member
Registered: 02-14-2000
In reply to: ckjd
Thu, 03-22-2012 - 12:27pm
Although Jason was initially disappointed that he didn't get into Wash U for med school, ha absolutely loves Loyola and has made a great group of friends. As his land lady told us last summer when we moved him in - those med students work hard but they also know how to play hard! I think it's been a great fit for him.
Pam
iVillage Member
Registered: 03-30-2003
In reply to: ckjd
Thu, 03-22-2012 - 12:36pm

I'm in agreement with the other posters- I would NOT take out that much of a loan.

iVillage Member
Registered: 10-16-1999
In reply to: ckjd
Thu, 03-22-2012 - 8:31pm
If all else fails, tell him to become a parent - my DD's Pell grant went from non-existent to about 3/4 of her tuition and her loans went from unsubsidized to subsidised when she had her son. OK, I'm not serious about that, but a CC for at least one year deserves a look. Some CC programs are just as tough and just as successful at producing top notch graduates as the expensive private schools.
Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999
In reply to: ckjd
Fri, 03-23-2012 - 9:06pm

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