[quote=scaredyclassic][quote=Essbee]I attended an Ivy for undergrad. This was the mid-1990s.
You see, there is this beautiful thing called “need based financial aid.” Because my family was poor, I graduated with only about $12K in debt. I think we had to pay about $1000-2000 per year toward expenses, as well. I did have to get a job (work-study, probably about 6-8 hrs/week) and that gave me my pocket change/spending money.
If I had gone there more recently, I would have graduated with ZERO debt, as families who make under a certain amount ($50K, I think) have to contribute zero now.
I would have no hesitation about sending my kids there (although it is far too early to know if they will have the aptitude or interest in attending), but unless our financial circumstances change for the worse, I doubt they will be receiving any need-based financial aid.[/quote]
Need based aid is bullshit. Why is the family unit the source of money. In general 18 year Olds are adults. We don’t send families to prison when one member commits a crime. Why is a family’s assets and income pillaged for a degree for an adult who will get the benefits of that degree herself over many years
Why are families involved mandatorily at all???.
I honestly do not get it.
If I don’t want to pay it doesn’t matter my kid can’t get aid. But he’s not “rich”. None of my wealth, paltry as it is, Belongs to him at all…
Why involve families?[/quote]
I’ve always had a problem with this, as well. Some families will scrimp and save all their lives in order to send their kids through college. Other parents will kick their kids to the curb at age eighteen, perhaps with a few hundred dollars to get them started, even though the parents are loaded.
Each student should get financial aid based only on his/her individual needs.
