Decisions
A friend of mine called today. He and his wife are in trouble. Their son was accepted at three schools. He expressed a great deal of interest in College M. Meanwhile College K offered their son close to a full ride scholarship. My friend believes that in their current financial condition the son should accept the offer from College K. The wife believes that they are not doing right by the son by not giving him the desire of his heart. College M is asking them to take out a $26,000 Plus Loan. Given that together they barely reported 42,000 in income this loan will add to an already heavy debt burden on this family.
A few years ago this would not have been a problem. My friend had a six figure job and was doing well. Now, he is just about to begin making over 40. He called me after she left the house over this. The son appears to be happy to go to a school that offered him a scholarship and that is affordable, he is of course disappointed by College M but he appears to be okay with College K.
I didn't say much (in fact I said nothing) I just listened and he hung up.
What could I have said that would have helped him? I am a numbers man, so its a no brainer for me. His wife is an emotional person who feels like she has left her son short.
They are blessed to be getting anything. Their son had so-so college boards, and while he is an above average student, he is not setting the world on fire. He is articulate but not always as motivated as he should be.
posted by Harold Gibson @ 8:36 PM
3 comments
3 Comments:
College K all the way baby.
After all, higher ed. is what you make of it. A degree from NYU carries more weight than one from City College ... but when all is said, done, and swept under the rug ... its what the individual makes of the experience and the opportunity.
I admit, when I was a student at NYU, we all enjoyed a certain arrogant pride and held our heads high. But now, years later, that exorbitant debt is still haunting me like the Grim Reaper. And I'll probably satisfy the latter before the former. Nuff said.
I understand parents want the best for their kids, but I don't believe they should feel an irrational guilt over not being able to afford Princeton, Harvard or NYU.
The kid will survive and prosper based on his own iniatives and skills, moreso than what school he attended.
An education is important and as someone who didn't really enjoy the campus experience as much as I would have liked to, I can also say that it's important to take into account the atmosphere. In the end, I had to be practical. My parents could not afford to pay for my education and as much as I would have prefered to leave the state, I made the choice to go to a public school in state and with scholarships, loans, and working...I made it and didn't put my parent's out of a home. I survived and I'm proud of the education I received...though I don't have the fondest memories of my college experience, I still had a valuable experience and I got over the things I didn't like.
All that to say that the most important thing is an education and sometimes we have to do what we have to do.
I do understand the wife's point of view, but in the end, it's about $$$.
I was accepted to Clark Atlanta University. I was on my way to packing my bags and board the first thing smoking to the ATL before I even graduated... until I realized I was getting no financial aid... I'm the youngest of 3 to a single mother... that 26K a year was not gonna happen... then I got a recruitment letter from a small private college in rural PA. I applied, got accepted, gota full ride... I think my mother drove 100 MPH to get me to school on time...
Bottom line, I still got educated. Period. It's not where you go, it's what you learn.
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