I saw an article on the news
today about a Massachusetts girl who took to pan-handling and setting up a
GoFundMe account because she doesn’t have enough money to pay for college. She stated that she applied and got into
eight different schools; that with merit and financial aid she doesn’t have
enough money to pay for them and that this was done not only to raise money but
awareness about the staggering costs of higher education.
At first I was quite pissed off
at this article. She stated that she
didn’t want to go into debt and her parents can’t co-sign on loans. Well wait…so her parents can go into
debt? Or at 18 did she just word it
wrong because she has taken on a cause that she isn’t fully aware of.
I’m still pissed but not as much
as I was upon the first five readings and watching of her video. She sites on her GoFundMe page that at
50,000.00 costs is too high based on the 11 to 18K she has received in merit
scholarships and doesn’t cut it. She
states that everyone told her that she was doing everything right and not to
worry she could go anywhere she wanted.
Then she states that they were wrong because of the financial part of
it.
Some facts before I rebut this
amazingly talented child:
Massachusetts has 107 accredited
colleges or universities. Out of the
107, there are 27 Public colleges or universities. Of which one is even in her home town and
ranked 156 in the nation, as a top-tier school.
Also, of note, this school’s tuition, room, fees and meal plan comes to
about $25,000.00 for in state students.
I looked at the admissions criteria and unless she tanked her ACT or SAT
this school would want her. I looked at
about 5 other public schools and a few private schools in the state and found
almost the same information.
So now the information I have for
the parents and/or college bound kid…
- · If you as the student work hard for four years you can probably get accepted into any college or university you want. The dream is there. Unfortunately, at a cost. It is there, though.
- · Before submitting your acceptance letters, look at the costs of the school. Does it fit within your budget or your family’s budget? If not, apply, you might be surprised at what kind of aid you can get BUT be realistic. Seriously, if your parents have saved no money, do not have good credit and the maximum merit scholarship is $18,000.00 and the total tuition package is $50,000.00 then going to that school may not be an option. Getting accepted is wonderful but again, reality has to set in.
- · Reality, the costs of tuition and room and board and meals and books and…and…and… is high. I have five kids, three in university right now, I have done the research on the costs and why they are where they are. Should anyone have to go into debt to get a higher education, NO. Do they, YES. It is a reality and one that has to be prepared for by the student and the family. She doesn’t cite her parent’s situation, financially, but if it is just that their credit is bad, there are options. If they didn’t save, there are options. She states she worked three jobs in High School but what did she do with that money knowing she was applying to colleges that cost 50K a year to attend?
Ok, so this young lady, while
blaming the system is trying to do something about it. I give her tons of credit for it, but again
the reality is that what she has raised is 1) enough to cover the difference
for one year; 2) doesn’t take into account all the extra’s that come with going
to college; and 3) raises awareness yes but not in a productive way.
College is expensive, even public
and state schools. Private schools more
so. However, (wait for it…here is
another list), the DREAM is obtainable:
- · The school you really want to go to is way up there in costs. Have you visited the school? Are you sure you really want to go there? Have you compared them to another institution? If this is really where you want to go have you done the math on the “debt” you may have to take on to obtain the education?
- · What is the graduation rate? What is the job placement rate? A big named school does not mean that it is the best place for you.
- · Four institutions (I had two kids go to the same school), at my request, sat down with me and my child and went over the costs and what could be done and what couldn’t be done. We did the math for an entire stay at the institution.
- · You have done the math, how bad do you want it and what are you and your family willing to do? For our kids, we were willing to take on the student loans they had to take out. We paid the interest every year to keep it to the principal amount and I pay on those loans that have come due. They each got four years of “your debt is my debt” so you can go where you want.
- · My kids applied for every scholarship and grant that was available. $100 bucks is $100 bucks; it will buy that Math text book.
- · Every high school has a counselor’s office and most of them have an area directed at those applying for college to help them navigate the process and they usually have a comprehensive list of every scholarship available. If they don’t, then do what I did and Google it. I found some great ones out there from one that was for a Catholic Girl going to a Catholic University to a Forestry scholarship where all you had to do was write an essay on the affects of forest fires.
I truly hate these types of
stories. Not because the cost is not
high; not because most people will go into some form of debt to attend a higher
education institution but because I don’t feel like panhandling and GoFundMe
accounts count as creative or doing all you can.
I’m sorry but get a reality check…as
much as we hate the costs, it is there and is not going to change. (Interesting fact, have you ever looked at
what it costs for an individual student to attend high school and did you
realize that your tax dollars, based on your home value, help pay for that attendance?).
So your kid picks an institution,
they get accepted, they get offered scholarship money and sticker shock sets
in. The tears and begging starts. The bargaining begins. What now…
Ø
First, be realistic. What are your finances? Are you going to help your child or let them
do it on their own? No judgment, it is
reality. If you are going to help what
can you afford in five years? Can you
add an additional $200.00 a month to your monthly bills? Can both you and your child do it
together? College tuition isn’t about
the first year it is about four years and how you handle the after effect.
Ø
Reality Check…no institution offers a full ride
and unless your parents saved all their lives; are rich; or you win the
lottery, loans will be what helps you obtain the dream you set for
yourself.
Ø
Stafford Loans.
These are done in increments based on the year you are in school. So if you are starting with enough credit to
be a freshman but change to a sophomore in January, then you get more in
January. If you start as a sophomore
because you go in with enough credit then you get the sophomore rate. Yes, these are loans that have to be paid
back. But they are incremental, you take
them if you need them and depending on your parent’s financial status they are
either unsub or sub loans (interest vs. no interest). Keep in mind, pay the interest at the end of
the year if you get an unsub loan then when it comes due you are only paying
principal back. The interest is not that
much at the end of each year.
Ø
Pell Grants.
Of course these are need based.
Ø
Parent Plus loan. Ok, so your parent doesn’t have credit that
can get this. Some schools have a
situation set up that if your parent applies and is denied, you receive an
additional $4000.00 for the year. Yes,
again, it is a loan that has to be paid back.
Ø
Work Study.
Oh yes college is fun but if you want to go and money is an issue, then
work study should be in your future. You
can have it so you get paid a certain amount and the rest goes to the school or
have the entire amount of your “paycheck” go to the school.
Ø
Is the school’s financial aid department your
best friend? Private schools have access
to every grant, fund, and money available to anyone. Have you asked? I always did and then when my kids started
school they did too. I found that if you
(parent or student) write out your story and send it to the school that the
financial aid officer may be able to find money in the grants fund to
help. Money that was allotted to a
student who decided not to go or dropped out after one semester. If you don’t ask, you won’t get and the worst
that can happen is they say “Sorry, no”.
Also, this is something that has to be done each semester, not just one
time.
Ø
What is your field of study? Call the department head, set up a meeting. Are there any department scholarships? Are there any jobs? Do they have a lead on a MAP or paid
internship?
Ø
Have you applied to every scholarship that is
available? I remember at my youngest daughter’s
award ceremony seeing one girl who had some 27 scholarships they added up to
about $40K. She put in for everything
she could.
Ø
Have you bid the schools against each
other? Here is how this works, and keep
in mind, not all schools will do this but some will, School A gives you X
amount and you get X amount but you are still short. School A says that is all they can do. You call School B (and down the line) and say
this is what School A offered, this is what I have and I need to talk to
someone to see what we can do.
Look, it isn’t easy. School costs should not be so high - but it is
and that is a reality. Too many people
start planning their senior year in high school; these are discussions and
plans that should be happening no later than freshman year of high school. Kudos to this girl for getting creative. Kudos to this girl for not wanting debt. Shame on her parents and the school for not
walking her gently through the realities of the world.
Every one of my kids was or is
able to go to the school they wanted but we took on the loan debt. They worked hard, they did it right and I
learned by trial and error but we made sure that if they could articulate why
the school was where they wanted to go we did everything in our power to do
it. Debt for college is just a fact of
life and how much of it you carry depends on how you accept the reality and
upon how much work you actually do.
Standing on the street corner is not “everything you can do”. That is the easy way out. That is getting money you didn’t earn and it
might help cover your books or meal plan or from my knowledge of institutions
up north, one semester of health insurance, but does it make you feel worthy of
the institution you are going to because you don’t want “debt”.
Check the champagne taste on a
beer budget if you’re not willing to work for it.
No comments:
Post a Comment