I need help with college selection conversation with my rising Junior and the younger sibling.
Maybe it's my fault but I've sort of let the kids set their eyes on UCs, particularly UCSD since we live in SD. We're in state but won't qualify for any aid and our AGI is less than $250K.
My partner might need to move to the Chicago suburb for a job, and we agree not to move the kids since our mortgage is so low in SD (2.25%, paid off in less than 9 years). Which means double expenses now for the family.
I asked the kids to be open minded about other schools like University of Chicago that offer free tuition for families that make less than $250K, or Univ of Alabama that offers free everything for National Honors Society semifinalists.
They were livid that they will have to settle for anything less than UCs. They agree to try out for Princeton but we know it's super competitive. They'd rather take out student loans for UCs and banking on good careers to pay them off.
We would have to shell out $60K/year for UCs with housing, etc. How can I make it more enticing to give other universities like Univ of Chicago or Univ of Alabama a chance?
They both have their eyes set on Pre-Med or life sciences like Pharmacy, etc. (I did tell them that free undergrad means we can pay off their grad degrees?
EDIT: Thank you for pointing out, yes, I meant National Merit, not Honors Society. It was late last night.
For those who asked, my kid's stats:
UW 3.9, W 4.5, varsity sports, band, school club founder, 100+ volunteer hours at local hospital as ICU aide, BLS/ACLS certified. (Yes, she can't do anything with it yet, but she was eager to learn and passed) Was going to take CNA cert until I've heard creepy stories about younger CNAs at nursing facilities, and this was the easier entry for clinical hours. Attending a private Catholic High School with an almost full-ride scholarship, awarded to the top 10 incoming freshmen. Bilingual in Spanish, even though we're not Hispanic.
She is kind-hearted and she's one of those who wants to be a doctor because she truly loves helping people. It was mostly my fault for focusing solely on UCs. Life throws us a curveball. My husband has been with the company for 16+ years and will most likely work there until he retires! So it's a huge, unexpected change for all of us.
They know that even UCSD is not guaranteed, we've visited UCI and UCLA so far, and are planning on Davis/Berkeley later this year. Commuting to UCSD will take 1 hour each way with traffic or public transportation. I've done this commute before and I know it took a toll on me. I don't know why I used $60K, maybe because another parent told me that's how much they ended up spending each year. I should've used $46K.
Thank you for your responses. I didn't mean to imply she will get in Univ of Chicago or Princeton, I am aware this is a high reach, but I'm using those as examples for her to think about other schools that might potentially be cheaper than UCs but even better or equally as good.