ReadySetGo
Dryer sheet aficionado
- Joined
- Nov 20, 2017
- Messages
- 39
We have been in this situation with three kids, and our youngest just made a decision to attend an out of state school like her older siblings. Each got merit scholarships, and each went back to the departments of interest speaking of their intended contributions and requested additional scholarship money. Two were successful. We allocated a certain amount of money and set a limit that we would allow them to borrow from us, to make up the difference between scholarships and actual cost, calculated with inflation. One of my kids had to pass on the dream school because it was untenable financially. He is very happy, though, where he ended up. All three of my kids have or will graduate early. They have been willing to be creative and to save themselves a semester’s worth of money. They had skin in the game, worked to devise a solution, and worked hard to support their decision. Your son may also consider working during school, trying to secure an RA position or getting ahead in credits and then paying by the credit hour as a part-time student to finish up. There are options to consider. I will also add that for my oldest, I believe that attendance at her top choice has assisted her in securing her dream job in New York City. For my second, I do not think that he will have that same outcome simply for the school that he attended. It’s a very difficult decision for both parents and kids, but very challenging for an 18-year-old to truly consider the impact of a tremendous loan on their future. I wish you and your son the very best as you make this very difficult decision.