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Honored Contributor
Posts: 18,010
Registered: ‎11-25-2011

Re: Your child gets into MIT....


@MJ12 wrote:

O/T - I am a little weary of the current trend I see/hear of people NOT encouraging kids to go to college.  Of course a trade is a wonderful thing to have - and we all know we need skilled, licensed tradespeople.  But if a student dreams of college, I really wish every person in his/her life would encourage them to find a way to get there.

 

OP - to your question - if it were my child and he was accepted into MIT (which we couldn't afford) - I would hope I take a second and third job to send him.  


@MJ12 

I understand your position.

It’s a fine line with good discussions on both sides. 

 

If the child dreams of college, more than likely the parents

instilled that thought since youth & supported their dreams

throughout many years.  

 

So that brings me to,

The parents had at least 18 years to devise a financial plan 

to support their child to reach his/her dream. The progression

of getting accepted THEN taking a 2nd/3rd job is....too late. 

If anything, that’s just poor parenting to not prepare decades before.

The child sees this ‘cart before the horse’ way of attaining something

and just that influence can make/break the child’s future with

bad financial lessons....no matter what degree/salary they have. 

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Posts: 5,699
Registered: ‎03-09-2010

Re: Your child gets into MIT....


@PickyPicky wrote:

Is it the money in the college trust that is blocking this student's eligibility for financial aid? You say that money will only cover 1 semester at MIT. Is your income so high that the student doesn't qualify for any kind of financial package? If so, you need to tell us that. The issue would then become why you don't believe in helping out

 

Was this student accepted perhaps as a legacy and doesn't fully qualify academically? If so, you need to tell us that.

 

I think going to MIT is absolutely worth the money. However, academic competition in Boston is fierce. You need to be able to walk in the door as a freshman with confidence. MIT is not a place where you grow into handling challenges. Does your student have the right stuff?

 

 

 

 


Are you willing to sign your life away when you co-sign on student loans and carry that debt forever if the student should decide to default?

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Respected Contributor
Posts: 3,793
Registered: ‎03-20-2010

Re: Your child gets into MIT....


@MJ12 wrote:

O/T - I am a little weary of the current trend I see/hear of people NOT encouraging kids to go to college.  Of course a trade is a wonderful thing to have - and we all know we need skilled, licensed tradespeople.  But if a student dreams of college, I really wish every person in his/her life would encourage them to find a way to get there.

 

OP - to your question - if it were my child and he was accepted into MIT (which we couldn't afford) - I would hope I take a second and third job to send him.  


 

I do not think it is not encouraging their children to go to college, rather knowing what the options they have available.  For decades parents have been pushing college as an only option. 

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Posts: 2,360
Registered: ‎04-04-2015

Re: Your child gets into MIT....

From the MIT website:

 

For students with family incomes under $90,000 a year and typical assets, MIT guarantees that scholarship funding from all sources will allow them to attend the Institute tuition-free. While the Institute’s financial aid program primarily supports students from lower- and middle-income households, even families earning more than $250,000 may qualify for need-based financial aid based on their family circumstances, such as if two or more children are in college at the same time.

 

 

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Posts: 1,167
Registered: ‎01-14-2017

Re: Your child gets into MIT....


@missy1 wrote:

He needs to go to another college then, or be responsible for paying the huge loans. I could not go anywhere I wanted. I went to a junior college first. I also did not want loans. IMO a trade school is much better. Be a plumber, auto mechanic etc.


@missy1 you can do what is best for you, but why do you think you get to decide the careers of people you don't even know?

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Posts: 8,344
Registered: ‎06-17-2015

Re: Your child gets into MIT....


@cherry wrote:

My son has a masters degree in teaching and teaches all over the world. He says people are getting degrees in things , that are a closed field,  and there is no hope to get a job  in this field. He didn't say an education and degree isn't important, but to choose wisely and realistically.

 

People need to be realistic about degrees and job opportunities. To saddle yourself with loans,  you will never be able to get out from under, for a pipe dream, is very foolish


@cherry   Agree.  The field I chose for my undergrad degree was tight but I doubled down in a foreign language which opened the door for me to pursue, at the time, the career I wanted.

 

It was what I wanted to do and I was happy to have a job I loved during that time.

""Out beyond the ideas of right-doing and wrong-doing, there is a field. I will meet you there." -Rumi
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Posts: 17,602
Registered: ‎03-09-2010

Re: Your child gets into MIT....

@Cakers  you were looking at more than money , which is always a good thing to do

 

Education is never worthless, by any means. It is also no guarantee of making a great living in that field either

 

I am glad it worked out for you

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Trusted Contributor
Posts: 1,167
Registered: ‎01-14-2017

Re: Your child gets into MIT....

[ Edited ]

@sidsmom wrote:

@MJ12 wrote:

O/T - I am a little weary of the current trend I see/hear of people NOT encouraging kids to go to college.  Of course a trade is a wonderful thing to have - and we all know we need skilled, licensed tradespeople.  But if a student dreams of college, I really wish every person in his/her life would encourage them to find a way to get there.

 

OP - to your question - if it were my child and he was accepted into MIT (which we couldn't afford) - I would hope I take a second and third job to send him.  


@MJ12 

I understand your position.

It’s a fine line with good discussions on both sides. 

 

If the child dreams of college, more than likely the parents

instilled that thought since youth & supported their dreams

throughout many years.  

 

So that brings me to,

The parents had at least 18 years to devise a financial plan 

to support their child to reach his/her dream. The progression

of getting accepted THEN taking a 2nd/3rd job is....too late. 

If anything, that’s just poor parenting to not prepare decades before.

The child sees this ‘cart before the horse’ way of attaining something

and just that influence can make/break the child’s future with

bad financial lessons....no matter what degree/salary they have. 


@sidsmom so when a parent made a bad decision, or no ability to save, they can never take a new action to overcome this obstacle?  Most people are trying to do good, just because a parent has challenges, that should not doom their children from achieving reasonable goals.  We can always try to do better.

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Posts: 16,938
Registered: ‎03-10-2010

Re: Your child gets into MIT....

It's a simple answer:  We can't all afford the life we would like.  If you can't afford to go to MIT you just can't go.  You would be disappointed, but that's life and there is a lot more of it down the road, so buck up, go to the best school you can afford, and be happy and look forward to life ahead.  Start thinking about what your skills are and where you can go with them.

 

Going to MIT does NOT guarantee you a big salary no matter how smart you are.  Your best bet is to plan for a career where you can make some money (doing what you love is most often a hobby not a career choice) and get to hard work!

 

Why don't we talk about that more often?  How come we keep telling kids to do what they love?  The concept should be how well do you want to live and what kind of job and work will it take to get there?

 

Lots of money usually comes with long hours, sacrifice of time and stress and other things that people seem afraid to talk about now. 

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Posts: 1,167
Registered: ‎01-14-2017

Re: Your child gets into MIT....

[ Edited ]

@CelticCrafter wrote:

@PickyPicky wrote:

Is it the money in the college trust that is blocking this student's eligibility for financial aid? You say that money will only cover 1 semester at MIT. Is your income so high that the student doesn't qualify for any kind of financial package? If so, you need to tell us that. The issue would then become why you don't believe in helping out

 

Was this student accepted perhaps as a legacy and doesn't fully qualify academically? If so, you need to tell us that.

 

I think going to MIT is absolutely worth the money. However, academic competition in Boston is fierce. You need to be able to walk in the door as a freshman with confidence. MIT is not a place where you grow into handling challenges. Does your student have the right stuff?


Are you willing to sign your life away when you co-sign on student loans and carry that debt forever if the student should decide to default?


I guess this depends on how you feel about, and what you want for, your child.