[Michael]

Our oldest is a junior this year. We make about $180-$185k/year gross.

I keep reading that most people don’t pay “sticker” price on college costs, but are there any good sites or does anyone have experience on whether anything is available at our income level?

We do have 529s and she will apply for a lot of scholarships, but as this is our oldest, we are trying to plan as best we can for the upcoming costs.

I had assumed there would be nothing available for us as far as reduced tuition or aid, but I recently read an article that made it sound like there was a possibility for reduced tuition.

[Joan]

Applying for scholarships may be a time waste as those are usually only for frosh year, small amounts and often have a need req’t.

To get the best scholarships for all 4 years, you have to apply to the schools that give them for your child’s stats.

Has your student taken the ACT/SAT? While many schools are test optional, many also give better awards to those with strong test scores.

What is your home state and what is your student’s career goal?
Do you have a budget for how much you can contribute each year?

[Kris]

Having 3 kids in college, set a budget, let your student know what that budget is. Be realistic about costs and what you can afford.

Will that cost include loans?

[Nancy]

As others have said, your best bet is to chase merit aid. Your student should target schools where his/her stats make them an academic rock star.

I recommend these books to all parents new to the college process: The Price You Pay for College (Lieber) and Who Gets in and Why (Selingo).

Most libraries have them on audiobook too.

Best of luck.

[Michelle]

The “most don’t pay sticker” is true mainly for the lower tier private schools.

So many of them have crazy high prices (who would pay 80K/year for a school that isn’t an ivy?), but then they give big scholarships/grants so you think you’re getting a deal.

At 185K/year you most likely are sticker price at state schools unless your student qualifies for merit aid.

[Kim]

book “who gets in and why “Another book called “the price you pay for college “. Your kids need to apply to schools that offer “in house “merit based on gpa , test scores, achievements and their essay.

One highly sought after school might offer very little where a more regional or lesser known school might offer big merit or even free tuition or bring the cost down to in state.

Not sure if they have their sights set on oos or big or small
Schools but it’s worth understanding the likelihood of merit at each school.

My youngest is receiving all her acceptances now. One public university gave her $7k per year, no honors college acceptance.

Another private school gave her presidential scholarship with honors college and $16k per year. Both schools were within $2-3k of each other for cost.

[Eri]

Some 4 year colleges have programs where they partner with local 2 year colleges for reduced tuition for transfer students.

One of the big private colleges near us gives 50% off

[Sarah]

First consider your child’s makeup and how you think she will handle the stresses of college, being away from home, etc.

Having hired hundreds of people, I can tell you that employers usually don’t care which university an employee attended.

Financially, I’d have her attend a state university, or maybe a community college near home for the first two years and then a state university for the rest.

[Cris]

My friends and I got jobs at the university where the compensation was tuition waiver or room & board covered.

I had additional part time jobs to help cover cost of living.

[Charlotte]

Merit scholarships are not based on need. Some schools have guaranteed merit aid where if you meet certain criteria you get a certain scholarship.

It seems like many “outside scholarships” are needs-based.
My best advice is to not have a “dream school” and be open to many schools, as well as looking into CLEP tests / ModernStates .

org, AP classes, dual enrollment, etc., to start college with credits to be able to graduate early.

[Stephanie]

Look on the college simply website and find Target, and safety schools.

Schools where you child’s gpa and score are above the average will offer more money.

[Lax]

Budget and expectations helped us immensely so no one is flying on cloud 9. All entertainment cost is on them by earning in summer, holidays and thrifting, cooking etc.

We encourage them to save for future and match $s upto certain amount if they deposit it into RothIRA.

Our kids are on same page with us when it comes to minimalism, but they are still young so they do spend more when they are with friends or splurge occasionally.

So, they started asking for cash instead of gifts for birthday and holidays. Eventually, you will come up with your own unique plan.

[Christine]

Each private college (not sure about public) has a calculator on their website to calculate how much is your estimated contribution.

I have 2 in small liberal colleges and they were spot on.

Depending on the school they do have schools that give significant help.

my kids got significant merit from out of state schools because they have strong grades. The better the grades the more merit (depending on the school).

The small schools with large endowments tend to give more. For example Colby in Maine says that you won’t pay more than 15k if you make 150K.

So don’t feel discouraged!

[Stacey]

She may qualify for merit aid but I can’t imagine her qualifying for any financial aid. Merit aid at many colleges is pretty good these days.

My son got instate tuition at almost every out of state school he got into.

[Harmony]

Not sure if Germany still has free tuition, but my friends went there bc f this a few years ago.

[Ashley]

People definitely pay sticker price for many colleges. But there are plenty of merit and other scholarships and discounts.

I’d encourage you to find a local college counselor service and pay for a one hour consult.

It’s a wealth of information about options and will offer real information for kids coming out of your school district.

We went ahead and signed up for a whole counseling package for our third daughter after doing it on our own for the previous two.

It’s incredibly competitive now and the common app has increased the amount of applicants dramatically.

[Author]

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