Quote:
Originally posted by DeltAlum
None of the four "highly selective" schools participate in the National Merit program. Nor do they offer merit based scholarships, and since I did have a reasonably well paying job (even though we had spent much of our savings), he was not elegible for for need based scholarships.
Catch 22.
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Isn't that the strangest thing? Luckily the college funds we've set up for our daughters are doing really well but I've found out that, if they were in college right this minute (instead of in 10 and 12 years) they would be eligible for zero need-based financial aid. I mean, Mr. KR makes reasonably good money, but we can't just write out two 25K+ checks a year without blinking an eye. That's almost half of what we have to live on, and we're both fond of eating every day and paying our mortgage.
It's almost like the government is saying if you've never tried to make anything out of yourself and you have no assets to speak of....congratulations! We'll reward you for that by helping finance your kid's college education!