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Registered: ‎03-17-2010

Re: Your child gets into MIT....


@Desert Lily wrote:

It is SO worth it for the child to go to MIT. My child was accepted into ivy leagues, and I was a single mom who could not afford it. I spoke with admissions and the financial aid dept. My child did receive scholarships and did qualify for grants. Just about everything was covered for my child. I provided everything else and I opened (& still have) a joint checking account so I could always make sure my child had enough $. Going to an ivy league school changed my child's future. My child is currently working on a Ph.D. at another ivy league. I would have worked 2 jobs, taken out loans, even sold my house, and done whatever I could to help my child attend an ivy league and shared the expense if things were different. I cannot tell you how grateful I am.


@Desert Lily CONGRATULATIONS!

Huge accomplishment.  Great success story for both your child and YOU as a parent! You must be so proud!

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Re: Your child gets into MIT....


@hckynut wrote:

 

 


@Meowingkitty wrote:

Heck, send the kid to a trade school to be a plumber, electrician or car mechanic. They don’t have to work in corporate America, can work independently and make a fortune. I just had a plumber come out to give me a quote on the install of two new bathroom faucets and they wanted $1400. (I already had the new faucets, that was just the removal and install of new ones) so if little Johnny plumber can do a couple of jobs a day at say $500 each he could make $5000 a week/$20,000 a month. 


 

 

@Meowingkitty 

 

 A person that thinks like me, I think. Now with a nic like yours? No wonder!

 

=^..^=

 

 

hckynut


In as much as I agree that trade schools are amazing and those graduating are so successful, If this child wants to pursue MIT they really need to go for it. 

 

It's a huge world, figure out what you want to do and GO FOR IT!  Especially while you're young. 

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Re: Your child gets into MIT....

[ Edited ]

My son turned down an offer to enter Annapolis, for Officers training

 

He got his degree from SIU ,and  his masters too. He is making more money than a Naval academy graduate, and he  didn't have to stay in the military to achieve it

 

Not  that there is anything wrong with a Military career, but, not everyone wants to spent their entire life working for Uncle Sam,( He gave him 9 years  of his life)

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Re: Your child gets into MIT....

Why is he/she not qualified for a scholarship?  

"If its broke, God can fix it".....Joyce Meyer
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Re: Your child gets into MIT....


@Imaoldhippie wrote:

Why is he/she not qualified for a scholarship?  


@Imaoldhippie, MIT does not offer scholarships only financial aid for which the student does not qualify.

 

OP posted this early in the thread: " The parents make too much money but not enough to pay the outrageous tuition. Parents income is considered until the child turns 26 of age. At MIT, the household income of $90,000 and below is when financial aid when will be considered. Work/study is also based on household income."

The more I learn the more I realize how little I know.
Being perfect must be a heavy burden.
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Re: Your child gets into MIT....

@Marp ........thanks for the info I had no idea.

"If its broke, God can fix it".....Joyce Meyer
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Re: Your child gets into MIT....

 A debt like that is NOT going to be paid off soon after graduation.  Never.  Regardless of what the student majors in.  That's a quarter of a million dollars with interest.  There are a number of different ways that parents and grandparents handle this.  It depends on the family.  In our case, with our older daughter who took a 6 year combined bachelor's/master's program in biochemisty; hubby and told her to take out whatever loans she needed and daddy and I would pay off those loans after graduation.  We didn't want her to be saddled with huge student loans and we were young when we had our children, we had the ability and the time to pay off her loans.  Now, if she wanted to major in English literture....no....we would not have made that committment.  She would have gone to a state university for that.  I've seen parents take out second mortgages.  Or the kid just goes to a more affordable school, generally a state college.   

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Re: Your child gets into MIT....

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.  

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Re: Your child gets into MIT....

[ Edited ]

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.

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Re: Your child gets into MIT....

[ Edited ]

@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.  


 

The huge loan debt is not worth it if you can't find a big paying job. Loans for being a like being Dr. is worth it. Not getting an art degree and having $200,000 loan debt. I tell my own kids go to trade school instead. Unless the loan pays out with a good job , don't do it.