Your child gets into MIT.... - Page 3

cherry · ‎03-09-2010

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

SahmIam · ‎04-16-2010

@lovesrecess wrote:
Hopefully parents have set up 529 accounts for their children. We have them set up for all of our grands.

529's are great but when you move to an out of state school OR go private even in your own state, boy, you realize just how HUGE a difference the cost can be. Our state school is $8400 for a resident. Out of state? $48,000 and that does NOT include room and board. Personally, I wouldn't pay $48,000 a year for my state college; it isn't worth it IMHO.

BirkiLady · ‎02-22-2015

@Maxine49 Good suggestions, but in the meantime that student looses out on his/her scholarship. Their scholarship money isn't held for them while they find a "loophole" to avoid paying the full financial amount of an education. Why didn't the parents plan ahead and put funds in an education fund 18 years earlier?? We did. When we applied for a Pell Grant and were denied, it was not a big deal.

Money screams; wealth whispers.

PickyPicky3 · ‎10-22-2018

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?

rezski · ‎04-01-2011

My neice went to MIT and wound up with a free ride to Columbia for her PHD. So worth it. Met her husband there as well. He is now a professor at the University of York in England and is well regarded in the Physics worl. She also is on staff at the Uni in York now as well. My sister was lucky as she could afford the tuition and made too much for any financial aid.We went into debt to send our older son to a state school where he was a football player and ended up with a Masters in Neurobiology. His debt is being forgiven as of this year as he has put in 10 years of working at an educational institution. The same one he graduated from.Sometimes you just have to go for your dreams.

SahmIam · ‎04-16-2010

@BirkiLady They did. I stated that in my original post. Considering how many parents don't, I'm not going to put them down for all they did save and for more than 1 child. Let's be real: did anyone think the cost of college would be what it is today? I know I didn't. My son is going to community college in order to save money. He has a 529 courtesy of us. That said, to avoid any debt upon graduation, he's doing 2 years community college and then 2 years in-state. We didn't think it would cost this much 19 years ago when we started it.

NicksmomESQ · ‎08-19-2014

An Ivy League school education is no guarantee that you will get a good job & be successful. I know several people who were sorely disappointed.They now have major debt.

My son had all these fancy schools in mind when applying to college. He was accepted by every one & was offered quite a bit of scholarship money. But it still would have cost a fortune.I sat him down & told him what I was willing to pay. The rest would be his responsibility!!

We live about 30 minutes away from a highly rated major state university.My son decided to go there & live home. He graduated with honors with no debt.

My son will now be graduating from law school next Spring.He got a 50% scholarship.He has been working as a law clerk & already has a job guarantee with the law firm for after he takes the Bar Exam.He will clearly be able to pay off his loan.

Going to expensive schools when you don’t have the means is just not a smart move IMO. There are no guarantees.You can get yourself in to deep.

sidsmom · ‎11-25-2011

@PickyPicky3

Could be wrong, but I believe the original post was a hypothetical

or a story in the news.

Anonymous032819 · ‎03-29-2019

@sidsmom wrote:
@PickyPicky3
Could be wrong, but I believe the original post was a hypothetical
or a story in the news.

A lot of "hypothetical" is acually reality.

The Sky looks different when you have someone you love up there.

SahmIam · ‎04-16-2010

@PickyPicky3 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?

@PickyPicky3 Not my kid.

Parents income is what they look at first. Anything after that is ignored once they see the parents income. I know that from my own child applying for financial aid (you must do it when applying for college; it's automatic). Not a legacy; would be first in family to go to college (hence why this is so difficult for the family). They have other children and are saving for them to go to college as well. He has the right stuff despite what his teachers told him all his life. Last, people have other financial responsibilities in life. That's just the way it is for many, so offering more isn't an option nor is going into debt smart for them.