Financial Aid

[UptonSinclair]

Here is my personal experience with "financial aid."

I make about $75,000 a year as the sole source of income for our household. My daughter attends Colorado State University at the cost of about $20,000 last year including dorm, meal plan, and fees. We didn't qualify for a dime of grant money from the feds or the college. She applied for every scholarship she found, but was told by the college that they reserve academic scholarships for out of state students to encourage them to attend. We did qualify for loans, but I am trying to avoid her going into debt. The best part of the "award" letter is when CSU listed the American Opportunity Tax Credit as financial aid.

Thankfully, we live far beneath our means and have been able to pay as we go. For us, it was simply right job at the right time. It amazes me that middle class families are expected to come up with almost 30% of their gross income to pay for college.

[cookderosa]

Everyone qualifies to pay CASH. It's easy, and when you graduate, you own your degree DEBT FREE. That's my two cents (from a mother of 4 whose husband doesn't make half of what everyone here is saying and we live pretty damn well...all the while paying cash)

[LaterBloomer]

What college costs, and what its purpose is are interesting issues. Some years back I attend a graduation ceremony at a very expensive, very well-regarded liberal arts college. A student speaker was from a family of limited economic means. When young, she was told that if she wanted to go to college, it would be, more or less, on her. She was accepted into this college, with scholarships and work programs, etc. (I do not recall if she mentioned loans.) Do you know what she said in her speech? She said that she should not have had to work during college. Why? Well, part of the experience of this (or any, I suppose) college was the connections you made. Since she had to work during her four years, she had not been able to experience the full networking (not a term she used) opportunities of the school. We come to college with different expectations and different experiences.