College Admissions Questions (6 Viewers)

[stbugs]

Deferred at G’Town. And I way underestimated how crushed she’d be. Inconsolable.  :(

That sucks. I am pretty sure my son will be the same way if he doesn’t get into UNC. He’ll likely have some other great choices too but that top choice will always be THE top choice.

Not the same thing, but my youngest got cut by his travel team and was devastated. I didn’t get it and still don’t and he ended up back on it a few days later. He ended up having a great season and he’s fine now and better because he’s so laser focused on being as good as he can be. That said we just had to leave him be that day. Nothing you really can say in that moment. 

 

[The_Man]

Deferred at G’Town. And I way underestimated how crushed she’d be. Inconsolable.  :(

Sucks. They are crazy in Early Action - heard they took like 12% 

She still has a shot for sure but it’s gonna be a long 3 months. Sorry, GB

 

[NewlyRetired]

Allow me to take a different point of view that will be of absolutely no help or interest to an upset teen.

We, as adults, know life is full of disappointments.   One could argue that every generation has seen less and less disappointment, as kids, when compared to the previous generations children.

It is probably not the worst life lesson in the world for teens to realize that even if they work their butts off, that they are not always going to get what they want.   

Sometimes this comes in the form of not making a team or getting picked for the play you auditioned for, but more times than not, the first real disappointment kids these days experience is not getting into their college of choice.

And just like how kids quickly get over the devastating feeling of breaking up with their "one true love" in High School, they will soon forget about any college that did not want them and hopefully have a great experience where ever they go.

 

[chet]

Deferred at G’Town. And I way underestimated how crushed she’d be. Inconsolable.  :(

Sorry to hear that.  Hope she bounces back stronger.

 

[Tick]

My daughter missed some December 15 deadlines, which knocked one school out of the running.  She's so pissed at herself, but it probably makes her decisions easier in the end.  I knew this would happen based on how she's managing it, but decided early on that if I got too involved, it would stress her out.  It's her decision, and she can make mistakes and learn from them.  It hurt to see her so disappointed in herself, though.

 

[Tick]

I can't believe we all applied to and found a college pre-internet.

 

[stlrams]

Just check a box and or make up some story for your college essay which is becoming more prevalent.  Admissions offices don’t verify as they have limited resources.   None of my kids took this route but I personally know people that have gotten away with this practice.   This is partially a by-product of affirmative action imho.

 

[Nigel]

Thanks all. 

She came down and ate dinner with the rest of us, which was a surprise. And she broke the ice with a joke about it, and has quickly transitioned to an “f-them” attitude.  She’ll be good. The worst thing will be having to talk about it at school tomorrow, and finding out if the other two kids got in or not. And hearing about others getting in elsewhere.

BC up next tomorrow, then UNC in Jan. So a couple of shots at good news between now and April 1.

 

[stbugs]

Thanks all. 

She came down and ate dinner with the rest of us, which was a surprise. And she broke the ice with a joke about it, and has quickly transitioned to an “f-them” attitude.  She’ll be good. The worst thing will be having to talk about it at school tomorrow, and finding out if the other two kids got in or not. And hearing about others getting in elsewhere.

BC up next tomorrow, then UNC in Jan. So a couple of shots at good news between now and April 1.

LOL, good luck at UNC. As I mentioned above, my son's top choice. He loved it and for us, in-state tuition can't be beat. It's a great area as well, everything growing. We are about 2.5 hours away in Charlotte, so my son has lots of friends that go there. I just wish it didn't take so long to find out.

 

[Kraft...]

My Daughter was accepted to her top choice school yesterday, Lesley University(small school in Cambridge MA). They offered her a solid financial package as well, over 12K per year in academic scholarships(including Presidential scholarship), so proud that her hard work paid off. 

Not as big a name school as some mentioned here but it fit all her criteria perfectly. 

Small school < 5K
Close to home (Boston Area)
Offered a Special Education major(She wants to be a Special Ed Teacher)
Offered a 4+1 Masters program 

She loved the Special Ed program and the location(right outside Harvard Square). Like NewlyRetired’s daughter she has some anxiety issues so staying close to home and a small school were very important to her. One Bummer is they don’t have a women's lacrosse team. She had wanted to play and we visited with a few coaches but she liked the school more than she wanted to continue playing lacrosse. Maybe they will have a club team  

Best to all still waiting, hang in there, can see the light at the end of the tunnel  

 

[The_Man]

My Daughter was accepted to her top choice school yesterday, Lesley University(small school in Cambridge MA). They offered her a solid financial package as well, over 12K per year in academic scholarships(including Presidential scholarship), so proud that her hard work paid off. 

Not as big a name school as some mentioned here but it fit all her criteria perfectly. 

Small school < 5K
Close to home (Boston Area)
Offered a Special Education major(She wants to be a Special Ed Teacher)
Offered a 4+1 Masters program 

She loved the Special Ed program and the location(right outside Harvard Square). Like NewlyRetired’s daughter she has some anxiety issues so staying close to home and a small school were very important to her. One Bummer is they don’t have a women's lacrosse team. She had wanted to play and we visited with a few coaches but she liked the school more than she wanted to continue playing lacrosse. Maybe they will have a club team  

Best to all still waiting, hang in there, can see the light at the end of the tunnel  

Congratulations! It’s all about each kid finding the right fit for them. Our next door neighbor’s kid went to Lesley and loved it. Did a year with Teach for America and has been teaching special education for a couple of years since

 

[Instinctive]

Thanks all. 

She came down and ate dinner with the rest of us, which was a surprise. And she broke the ice with a joke about it, and has quickly transitioned to an “f-them” attitude.  She’ll be good. The worst thing will be having to talk about it at school tomorrow, and finding out if the other two kids got in or not. And hearing about others getting in elsewhere.

BC up next tomorrow, then UNC in Jan. So a couple of shots at good news between now and April 1.

I swear I posted this but it must have not gone through:

I was in the same place 9 years ago. Georgetown dream school, competitive applicant, didn't get in. I was mopey/angsty for like 2+ months about it. I ended up in at American. Claremont McKenna, and Oklahoma, and when OU's full-ride made it far and away the most responsible choice, I raised hell and had some knock-down drag-outs with my parents (I was obviously an angel of a teenager, not entitled at all  ) 

OU was awesome though. In hindsight, would make the same decision over and over. Still went to grad school at Stanford, still had a true undergrad experience with tons of beer and sports and trouble.

Sounds like you're daughter is already handling it better than I did.

 

[Nigel]

In at BC  

 

[The_Man]

In at BC  

Still bet she gets into Georgetown too. But maybe by then she’ll be so over them that she goes somewhere else 

 

[bigbottom]

Son got his ACT score today. Did well (33), but a point or two lower than he was hoping. It puts him in the running for his top choices, but not close to a sure thing by any stretch. Will be taking it again in either February or April. Man this process is a freaking marathon and we’re only at Mile 1. 

 

[chet]

I'm somewhat hesitant to post this, but will anyway.  My daughter's graduating class is very small--about 30 kids.  They all know what the others are doing which is a blessing and a curse.  One was accepted to Harvard last week.  He's a very strong applicant--great scores and grades and he's an URM.  I knew he would be a favorite to get in anywhere he applied and he follows siblings who also attended HYP level schools.  Today he tells my daughter that he's planning to apply to Stanford, Yale and Princeton even though he was accepted early to Harvard.  My daughter sent me a dejected text saying her chance of getting  into Stanford have dropped significantly because of this.  My very biased view tells me he's trying to collect acceptances at the expense of his classmates.  Am I overreacting?  

My daughter talked to the school's college counselor who was surprised to hear this saying that she was under the impression he wasn't going to apply elsewhere and she will get to the bottom of this.

Very stressful time especially for the kids.

 

[The_Man]

Son got his ACT score today. Did well (33), but a point or two lower than he was hoping. It puts him in the running for his top choices, but not close to a sure thing by any stretch. Will be taking it again in either February or April. Man this process is a freaking marathon and we’re only at Mile 1. 

You might consider having him take the SAT as well, especially if he had a high PSAT. For whatever reason, about a quarter of kids do better on ACT, a quarter do better on SAT, and half score the same 

ACT is a little more straightforward and about speed, while SAT is a little trickier but also gives more time per question 

Good luck! 33 is a pretty good starting point 

 

[bigbottom]

You might consider having him take the SAT as well, especially if he had a high PSAT. For whatever reason, about a quarter of kids do better on ACT, a quarter do better on SAT, and half score the same 

ACT is a little more straightforward and about speed, while SAT is a little trickier but also gives more time per question 

Good luck! 33 is a pretty good starting point 

Thanks for the feedback. He did take the SAT back in September and got a 1420, a fair amount lower than his goal of a 1500. He wants to take it again, but a 1420 is the equivalent of a 31 on the ACT, so he seems to do better on the ACT and would need a greater leap of improvement on the SAT. By contrast, his 33 on the ACT is the equivalent of a 1490-1510 on the SAT. But conventional wisdom is that kids in their junior year do better in Spring testing than in Fall testing, and my son is already one of the youngest in his grade. So he wants to take both again and hopefully improve his scores on both. In any event, it should benefit him for those schools that superscore. But this whole process is a drag. Back in the day, I took the SAT one time and hardly remember preparing all that much. But the landscape is so much more competitive these days, and I guess he’s more ambitious than I was. .Still, it’s so draining for our kids, and it’s only beginning for my son. 

 

[E-Z Glider]

My Daughter was accepted to her top choice school yesterday, Lesley University(small school in Cambridge MA). They offered her a solid financial package as well, over 12K per year in academic scholarships(including Presidential scholarship), so proud that her hard work paid off. 

  Congrats. Ultimately, this is what we're hoping for too. A private school experience at (closer to) state school prices. Not an easy feat when you don't qualify for financial aid. Your daughter must've had a strong application.

 

[rockaction]

Yeah, I remember doing a post-grad year at boarding school and not getting into the schools of my choice. I skipped classes for a week straight and almost got put on cut probation if not for "Otto" actually popping into the guidance counselor's office and saying "don't suspend rock, he's a good kid."

We all laughed. These decisions are life-changing, and they're tough to deal with for kids who haven't been accepted. Support them gently but not constantly. I know I was. I wish you all luck on your journey with your sons and daughters, and even those who may be applying that are on the site but aren't as vocal. 

Rock on.  

 

[MAC_32]

I'm somewhat hesitant to post this, but will anyway.  My daughter's graduating class is very small--about 30 kids.  They all know what the others are doing which is a blessing and a curse.  One was accepted to Harvard last week.  He's a very strong applicant--great scores and grades and he's an URM.  I knew he would be a favorite to get in anywhere he applied and he follows siblings who also attended HYP level schools.  Today he tells my daughter that he's planning to apply to Stanford, Yale and Princeton even though he was accepted early to Harvard.  My daughter sent me a dejected text saying her chance of getting  into Stanford have dropped significantly because of this.  My very biased view tells me he's trying to collect acceptances at the expense of his classmates.  Am I overreacting?  

My daughter talked to the school's college counselor who was surprised to hear this saying that she was under the impression he wasn't going to apply elsewhere and she will get to the bottom of this.

Very stressful time especially for the kids.

A bit, but I think it's fueled by the process more than anything. Once you know how it works you're better prepared to coach your kids through it, but by then you're usually done putting your kids through it so there's no benefit to be gleaned. Prepare for the worst, hope for the best while setting your sights higher than you can see. Tough game to manage, but that's the baseline I advise people to use, but I also work at a fallback plan school. Totally different pool of applicants here than what most of you seem to be experiencing.

 

[Big Blue Wrecking Crew]

Not sure if this is the right thread, but curious if folks who kids have been accepted have received any information related to actual enrollment costs based on merit/need based aid? Unlike all the rock stars in here, my oldest did not get accepted to any of his first choice schools, so I am guessing that is why when the second wave acceptances came in, they included that information.

My youngest has been accepted, but simply has received the acceptance letters, but nothing further. Guess we can contact the schools directly, but figured I would ask here first.

 

[Kraft...]

Not sure if this is the right thread, but curious if folks who kids have been accepted have received any information related to actual enrollment costs based on merit/need based aid? Unlike all the rock stars in here, my oldest did not get accepted to any of his first choice schools, so I am guessing that is why when the second wave acceptances came in, they included that information.

My youngest has been accepted, but simply has received the acceptance letters, but nothing further. Guess we can contact the schools directly, but figured I would ask here first.

Not sure if it's the norm but the merit scholarships my daughter received were listed in her acceptance letter. 

 

[stbugs]

Not sure if it's the norm but the merit scholarships my daughter received were listed in her acceptance letter. 

I saw the same. My son got $13k per year from Auburn and $21k per year from South Carolina and both were in the acceptance letter. He also applied to SC’s honors college which I think also has another merit award but that acceptance is all the way in March I think. We did get the deposit details as well. I’ll have to check, but I think they both had March deadlines for accepting the acceptance.

I just hope the UNC news in January is good. The scholarship from SC was really nice but it’s equivalent to in-state at UNC anyway. It’s so nerve wracking even though my son has pretty much done everything by himself. I just read the essays and reviewed his common app and that’s it.

 

[Big Blue Wrecking Crew]

Disappointing news, but I am not completely surprised.

Any ideas on when need based aid (including student loans) information may go out?

 

[MAC_32]

Disappointing news, but I am not completely surprised.

Any ideas on when need based aid (including student loans) information may go out?

Student loan eligibility is the same for all at the undergrad level -$5500 annually for freshman, $6500 for sophomores, and $7500 for juniors plus until you've exhausted the max, which can't happen until at least year 5.  That's how it was in 2017, but I work in a different area now so I don't know if it's changed in the last year or so.  Haven't heard it to be the case though.

Anything else federal or state depends mostly on how schools prepare their awards.  They have an annual pool that varies kinda substantially year-to-year and distribute based on whatever historical allocation they've established that's within that grants guidelines.  They have incentive to do it sooner rather than later, especially now that the fafsa can be done months earlier, but they don't necessarily have to do it within a certain timeline.

There are borrowing options beyond that, but best to get those i's dotted and t's crossed then determine what you (meaning parent, student, grandparent, ex, etc.) can comfortably pay annually before considering wandering down that road.

 

[Fear The Turtle]

I'm somewhat hesitant to post this, but will anyway.  My daughter's graduating class is very small--about 30 kids.  They all know what the others are doing which is a blessing and a curse.  One was accepted to Harvard last week.  He's a very strong applicant--great scores and grades and he's an URM.  I knew he would be a favorite to get in anywhere he applied and he follows siblings who also attended HYP level schools.  Today he tells my daughter that he's planning to apply to Stanford, Yale and Princeton even though he was accepted early to Harvard.  My daughter sent me a dejected text saying her chance of getting  into Stanford have dropped significantly because of this.  My very biased view tells me he's trying to collect acceptances at the expense of his classmates.  Am I overreacting?  

My daughter talked to the school's college counselor who was surprised to hear this saying that she was under the impression he wasn't going to apply elsewhere and she will get to the bottom of this.

Very stressful time especially for the kids.

Downer but isn't Harvard early acceptance non-binding? Isn't it conceivable that he could attend one of the other schools or is Harvard definitely it for him?

By the way, I had to look up both of those acronyms. 

 

[Fear The Turtle]

Just check a box and or make up some story for your college essay which is becoming more prevalent.  Admissions offices don’t verify as they have limited resources.   None of my kids took this route but I personally know people that have gotten away with this practice.   This is partially a by-product of affirmative action imho.

Imagine getting accepted while pursuing this "strategy" and then waiting four years for the other shoe to drop: being discovered and then potentially kicked out of the school for violating its student code of conduct. Doesn't sound like an enjoyable college experience to me. 

 

[stbugs]

Student loan eligibility is the same for all at the undergrad level -$5500 annually for freshman, $6500 for sophomores, and $7500 for juniors plus until you've exhausted the max, which can't happen until at least year 5.  That's how it was in 2017, but I work in a different area now so I don't know if it's changed in the last year or so.  Haven't heard it to be the case though.

Anything else federal or state depends mostly on how schools prepare their awards.  They have an annual pool that varies kinda substantially year-to-year and distribute based on whatever historical allocation they've established that's within that grants guidelines.  They have incentive to do it sooner rather than later, especially now that the fafsa can be done months earlier, but they don't necessarily have to do it within a certain timeline.

There are borrowing options beyond that, but best to get those i's dotted and t's crossed then determine what you (meaning parent, student, grandparent, ex, etc.) can comfortably pay annually before considering wandering down that road.

I’m glad my son recognizes costs of college. I don’t want to say he narrowed down his search, but he didn’t even want to visit Duke partially due to it being 3 times the cost of UNC/NC State and SC/Clemson with them offering in-state. My goal is to cover his college costs but I also want to be able to retire and enjoy. My wife and I now both work so our aid will be sqaudoosh. My wife stopped full time @ 10 years while the boys were young, so we ain’t loaded either. College cost in state are doable without killing retirement. 12 years at $70k? That would kill retirement. I’m still amazed at the amount of loans people are willing to take out. If we get even a small federal loan, I’d probably take it assuming it’s the same setup as when I went to school where all interest is deferred. Either I pay it off at graduation or my son takes over as well.

 

[stbugs]

Downer but isn't Harvard early acceptance non-binding? Isn't it conceivable that he could attend one of the other schools or is Harvard definitely it for him?

By the way, I had to look up both of those acronyms. 

Early acceptance isn’t binding but early decision is. I did early decision way back when and got in so I only applied to one school and it was binding if you got accepted. That said, I’m not sure how legally binding it really is. I would think that they would talk to other top tier schools if it was binding. 

 

[MAC_32]

I’m glad my son recognizes costs of college. I don’t want to say he narrowed down his search, but he didn’t even want to visit Duke partially due to it being 3 times the cost of UNC/NC State and SC/Clemson with them offering in-state. My goal is to cover his college costs but I also want to be able to retire and enjoy. My wife and I now both work so our aid will be sqaudoosh. My wife stopped full time @ 10 years while the boys were young, so we ain’t loaded either. College cost in state are doable without killing retirement. 12 years at $70k? That would kill retirement. I’m still amazed at the amount of loans people are willing to take out. If we get even a small federal loan, I’d probably take it assuming it’s the same setup as when I went to school where all interest is deferred. Either I pay it off at graduation or my son takes over as well.

Bad news.  That interest clock starts immediately. Additionally, the loan fees for parent loans are substantially higher than for students.  The student fee in 17 was about 1% and the parent fee changes year-to-year, but it's more like 4 or 5%.  And in many cases unfortunately the same is true for kids wrt interest. Some are eligible to have a portion subsidized, but if there have been cases of fully subsidized I never saw them. When I was in a position to have conversations with family's about this I'd recommend cancelling whatever unsubsidized loan they could if feasible from an out-of-pocket perspective. If they were uneasy about taking no loans I'd nudge them towards the subsidized loan and treat it as a contingency. Pay it off the same year if you can, but if unexpected expenses take precedent it isn't a priority for right now.  And if they got into a real jam they could always add the unsubsidized loan during the year, just needs to be done while the child is still in attendance.

 

[Big Blue Wrecking Crew]

Student loan eligibility is the same for all at the undergrad level -$5500 annually for freshman, $6500 for sophomores, and $7500 for juniors plus until you've exhausted the max, which can't happen until at least year 5.  That's how it was in 2017, but I work in a different area now so I don't know if it's changed in the last year or so.  Haven't heard it to be the case though.

Anything else federal or state depends mostly on how schools prepare their awards.  They have an annual pool that varies kinda substantially year-to-year and distribute based on whatever historical allocation they've established that's within that grants guidelines.  They have incentive to do it sooner rather than later, especially now that the fafsa can be done months earlier, but they don't necessarily have to do it within a certain timeline.

There are borrowing options beyond that, but best to get those i's dotted and t's crossed then determine what you (meaning parent, student, grandparent, ex, etc.) can comfortably pay annually before considering wandering down that road.

So, with regards to the federal/state level, would calling admissions offer any insights or do we simply wait to be notified, as ulitmately, the plan is to include financials as part of the decision making process?

 

[stlrams]

Imagine getting accepted while pursuing this "strategy" and then waiting four years for the other shoe to drop: being discovered and then potentially kicked out of the school for violating its student code of conduct. Doesn't sound like an enjoyable college experience to me. 

Possible but highly unlikely.   

 

[MAC_32]

So, with regards to the federal/state level, would calling admissions offer any insights or do we simply wait to be notified, as ulitmately, the plan is to include financials as part of the decision making process?

There is no down side to contacting Admissions with this inquiry.  Worst case you get stonewalled with non-answers, but some are more transparent than others.  And even a non-answers may not be their own fault, at least wrt state funding.  I can tell you my experiences with Ohio's timelines (we know through 2020-21), but every state is different.  Depending on where you are the school may legitimately not know what their state funded pool for 2019-20 (and beyond?) will be right now. Or they may know what it is now but are aware that it's subject to change.

 

[stbugs]

Bad news.  That interest clock starts immediately. Additionally, the loan fees for parent loans are substantially higher than for students.  The student fee in 17 was about 1% and the parent fee changes year-to-year, but it's more like 4 or 5%.  And in many cases unfortunately the same is true for kids wrt interest. Some are eligible to have a portion subsidized, but if there have been cases of fully subsidized I never saw them. When I was in a position to have conversations with family's about this I'd recommend cancelling whatever unsubsidized loan they could if feasible from an out-of-pocket perspective. If they were uneasy about taking no loans I'd nudge them towards the subsidized loan and treat it as a contingency. Pay it off the same year if you can, but if unexpected expenses take precedent it isn't a priority for right now.  And if they got into a real jam they could always add the unsubsidized loan during the year, just needs to be done while the child is still in attendance.

Lol. It figures, but thanks for the insight. I went to college a while ago but the federal loans didn’t start the clock until after graduation and you could defer for graduate school. I don’t remember any fees either.

I was looking solely at UNC to see my actual costs (I feed and pay utilities for my son now). If I figured in that it normally costs me $4k (might be more lol) a year for him during the school year and that he handles the personal costs, it’s $17k per year “extra” which isn’t bad. I wouldn’t get into loan interest and fees on top of that.

 

[Big Blue Wrecking Crew]

Bad news.  That interest clock starts immediately. Additionally, the loan fees for parent loans are substantially higher than for students.  The student fee in 17 was about 1% and the parent fee changes year-to-year, but it's more like 4 or 5%.  And in many cases unfortunately the same is true for kids wrt interest. Some are eligible to have a portion subsidized, but if there have been cases of fully subsidized I never saw them. When I was in a position to have conversations with family's about this I'd recommend cancelling whatever unsubsidized loan they could if feasible from an out-of-pocket perspective. If they were uneasy about taking no loans I'd nudge them towards the subsidized loan and treat it as a contingency. Pay it off the same year if you can, but if unexpected expenses take precedent it isn't a priority for right now.  And if they got into a real jam they could always add the unsubsidized loan during the year, just needs to be done while the child is still in attendance.

For subsidized, doesn't the government cover all interest payments until 6 months after graduation, when it then becomes student's responsibility?

 

[MAC_32]

For subsidized, doesn't the government cover all interest payments until 6 months after graduation, when it then becomes student's responsibility?

Yes, but.

The 'but' is because I'm not positive if it's 6 months post no longer being enrolled or immediate. Monthly payments don't become due for 6 months, but is it accumulating interest during that time? I don't think so, but I don't know for sure.

 

[MAC_32]

Lol. It figures, but thanks for the insight. I went to college a while ago but the federal loans didn’t start the clock until after graduation and you could defer for graduate school. I don’t remember any fees either.

This isn't the right thread nor forum for politics, so I'll just say...the game is set up to take advantage of the under privileged and under informed.  And f the middle class in the a.  At this point it'll take a bubble burst for either of those things to possibly change.

 

[Big Blue Wrecking Crew]

Yes, but.

The 'but' is because I'm not positive if it's 6 months post no longer being enrolled or immediate. Monthly payments don't become due for 6 months, but is it accumulating interest during that time? I don't think so, but I don't know for sure.

Thanks for confirming (with exception of when interest accrues post graduation; i will look into and post an answer once I have it.) Just wanted to be sure I had correct understanding.

ETA:

The U.S. Department of Education pays the interest on a Direct Subsidized Loan

• while you’re in school at least half-time,
  
• for the first six months after you leave school (referred to as a grace period*), and
  
• during a period of deferment (a postponement of loan payments).
  

https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized

 

[stbugs]

This isn't the right thread nor forum for politics, so I'll just say...the game is set up to take advantage of the under privileged and under informed.  And f the middle class in the a.  At this point it'll take a bubble burst for either of those things to possibly change.

Very true. If I didn’t make much at all my son could go to a lot of really good schools for free, but if you make over $100k you get little or no help even though costs can be $70k a year (post tax payments). I know a lot of people will cry for me, but unless you make mega bucks, spending 50-70% of your post tax income is impossible and hence the loan game which isn’t really removing any cost, just adding interest.

That’s why I’m glad the state schools near us are quality schools. The cost is so much more reasonable. Tuition at UNC is $9k per year. Yes, I know there are other costs but we also won’t be feeding and paying for his ridiculously long hot showers either!

 

[stbugs]

Thanks for confirming (with exception of when interest accrues post graduation; i will look into and post an answer once I have it.) Just wanted to be sure I had correct understanding.

ETA:

The U.S. Department of Education pays the interest on a Direct Subsidized Loan

• while you’re in school at least half-time,
  
• for the first six months after you leave school (referred to as a grace period*), and
  
• during a period of deferment (a postponement of loan payments).
  

https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized

Thanks. That’s what I remember and I’d very much take advantage of that situation if we get any aid like that. 

 

[stbugs]

In at BC  

Forgot to like this. Good for her. My son just got his acceptance at Clemson today. He was stoked. He liked it better than anywhere except UNC. Even better, he got an academic scholarship but we won’t get the info on it until February. Hopefully, he gets the same a little better than state tuition like SC because he’d be happy going to Clemson if he doesn’t get into UNC, which is still 100% his top school. He’d have to get a full ride somewhere else to even consider them over UNC and I don’t see that happening.

 

[Tick]

Son got his ACT score today. Did well (33), but a point or two lower than he was hoping. It puts him in the running for his top choices, but not close to a sure thing by any stretch. Will be taking it again in either February or April. Man this process is a freaking marathon and we’re only at Mile 1. 

I don't know what's important to your son and family (haven't been keeping a notebook in here), but it might be worth checking out Alabama's automatic scholarships for that ACT score.

 

[Tick]

I was in the same place 9 years ago. Georgetown dream school, competitive applicant, didn't get in. I was mopey/angsty for like 2+ months about it. I ended up in at American. Claremont McKenna, and Oklahoma, and when OU's full-ride made it far and away the most responsible choice, I raised hell and had some knock-down drag-outs with my parents (I was obviously an angel of a teenager, not entitled at all  ) 

OU was awesome though. In hindsight, would make the same decision over and over. Still went to grad school at Stanford, still had a true undergrad experience with tons of beer and sports and trouble.

I had roughly the same experience - I didn't have a dream school, but as I started looking around, I couldn't look past that OU NM scholarship.  I loved it there and have no regrets, plus I came out without debt.

 

[bigbottom]

I don't know what's important to your son and family (haven't been keeping a notebook in here), but it might be worth checking out Alabama's automatic scholarships for that ACT score.

Wow, that’s a lot of money. He does want to go to a school with a football team!

 

[chet]

Wow, that’s a lot of money. He does want to go to a school with a football team!

FWIW, a lot of Illinois kids go to Alabama because of the generous scholarships that aren't available at instate schools.

 

[Fishboy]

FWIW, a lot of Illinois kids go to Alabama because of the generous scholarships that aren't available at instate schools.

Agreed. One of the main reasons my daughter chose Alabama when we live in Wisconsin. 

 

[bigbottom]

Makes a whole lot of sense. 

Alabama out of state tuition: $30,030

Presidential Scholarship (32-36 ACT and >3.5 GPA Cumulative): $26,000 for four years. 

That leaves a net annual tuition cost of $4,030. 

 

[stbugs]

Makes a whole lot of sense. 

Alabama out of state tuition: $30,030

Presidential Scholarship (32-36 ACT and >3.5 GPA Cumulative): $26,000 for four years. 

That leaves a net annual tuition cost of $4.030. 

That is nice. My son didn’t look there, but that looks just about the same as his offer from South Carolina. His scores would qualify for the $26k at Alabama as well. SC offered him $21k per year, which is $1k more than the out of state difference and I think if he gets into the honors college you can get another $2-4K per year.

I know he’s dead set on UNC, which is in-state for us so about the same cost anyway and I think it’s popular enough that chances of a merit scholarship are way less. It’s nice to have some good backup options. I have two more sons coming after him so with 12 years of college to pay for in 10 years, cost is ridiculously important to me. 10 years. FML.

 

[chet]

That is nice. My son didn’t look there, but that looks just about the same as his offer from South Carolina. His scores would qualify for the $26k at Alabama as well. SC offered him $21k per year, which is $1k more than the out of state difference and I think if he gets into the honors college you can get another $2-4K per year.

I know he’s dead set on UNC, which is in-state for us so about the same cost anyway and I think it’s popular enough that chances of a merit scholarship are way less. It’s nice to have some good backup options. I have two more sons coming after him so with 12 years of college to pay for in 10 years, cost is ridiculously important to me. 10 years. FML.

A former client made the following deal with his kids.  Once they decided on a school, they had a discussion of what the child could achieve academically--this was assuming they went to class and studied for tests but also had a social life.  In other words, this was not assuming they had to study 24/7.  He then told the child that he'd lend them the money for school and if they achieved what they both agreed they were capable of, he'd forgive the loan and if they didn't, they'd have a discussion about repayment.  I thought it was a smart way to have the kid have some skin in the game and lower the risk of them wasting the opportunity.