Saturday, January 23, 2010

As a current or future parent, would you send your child to a private college if you could not afford it?

This question needs to be answered in one of two ways;





1) As a current parent, would you send your child or children to a private school if you child got accepted to the college even if you knew you could not afford the college.





2) As a future parent, would you consider sending your child to a private college if your child or children got accepted knowing that you could not afford the college.As a current or future parent, would you send your child to a private college if you could not afford it?
no i would not





back when I was applying to college, I didn't apply to any out of state private universities because I didn't want to make my parents pay two or three hundred thousands dollars for my education (even though they were capable of doing so)





i think it would be irresponsible to send your child to an institution that you cannot afford





as for the child, they could argue that they are not getting as good of an education. I say that's bullsh*t...you can get just as good an education at a public university. Plus what is really important is how a student uses his/her time, not which university he/she goes to.As a current or future parent, would you send your child to a private college if you could not afford it?
Private colleges tend to offer very good financial aid, so your question is very hard to answer. At Harvard, if the parents make $60,000 or less, the parents are not asked to contribute. $120,000 to $180,000, the parents pay 10% of their income -- a huge deal when the actual cost is $50,000+. Between $60,000 and $120,000, they pay less than 10% of their income. Very often private colleges end up costing less than public, because of the financial aid. And then there are student loans.





I don't think (lottery?!) I'll have several hundred thousand set aside for college for my son (high school will be over $100,000, LA private school, ugh), and we likely won't qualify for any financial aid, but I'll send him, somehow. He's likely to go into a field where the cost of private college would make sense and raise his income so it would be worth it. Hopefully there will be some sort of merit-based aid available. = )
Private school doesn't always have to break the bank, we already do send the children to a private school, granted one which the tuition is very manageable only a couple hundred per child, per month.





If my children were accepted into a school which was outside of the price range, however the institution was well accredited and a great opportunity I would find a way to make it happen. There are always grants, bursaries, scholarships and subsidies to be had, and I would apply for them all. I would pick up a second job and reevaluate my expenditures.





If the school was worth it, they would go.
As the daughter who is anticipating her acceptance status letter by March 25th to a private, Catholic, all women's school in Indiana... yes, I would send my child. I am very blessed that my parents both have secure jobs and are willing to pay for FOUR (not the five that I will need) years of my college education. The last year comes out of my pocket.





There are scholarships, grants, loans, everything under the sun to help kids get into such schools. But if I ever have children, they will get four years out of my pocket and nothing more. :)





Edited to add: I forgot to mention that I live in lower Alabama.
Well, it depends on what you mean by ';can't afford.'; Most people can't really afford private college at all. You have to be quite wealthy to be able to afford private college for even one child.





I will do my best to send my child to the college of his choice. There are loans available, and we have already started a 529 plan for him.
No, I attended a private school for a term and not only was it a terrible school but it was $10,000/ term and I didn't get any financial aid. I took out loans and I will be paying them back for that one term. My kids will take what I can give them and if they don't want that they can earn their own money to buy whatever they want.
I will try to send my kids to the college of their choice, but if it isn't affordable, they will have to get jobs and loans.
I'd save the best I could and if they insisted on a certain school, I'd rely on them to bust their humps to get financial aid. If they want it that badly, they can help out.
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