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OT: Financial Aid apps for Grad School children
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Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Thu, 27 Feb 2014 03:16:48 Share Post by Email
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Time for a rant.
When our oldest decided to enter Law School at age 24 I was a little put off by the requirement that parents' income be included on the financial aid applications for all students under age 25. He was an adult for cripes sake! But it was only one year so no big deal, plus Florida granted him residency status after only one semester so his costs dropped by 50%. FYI - He had lived in Florida almost as much as he had lived in Michigan during the preceeding 10 years, and followed the State's requirements for obtaining residency status.

Now our youngest, after 5 years in the software industry, 2 years in a Pre-Med program at Harvard (he paid), and 3 years working in neuro-biology labs, will be enrolling in Med School in the Fall. Financial Aid applications for Graduate School now require full disclosure of the parent's information REGARDLESS of the student's age. Our youngest will be 32 next month!

My wife and I are not wealthy, are in our late 50's, and will require our savings to provide for our retirement which will likely commence prior to our son's graduation. After years of scrimping and saving we are approaching a financially comfortable future. One that will be thrown all out of whack if some greedy school decides we need to pay for a MD degree. Or our son looses out on available aid money now because he may inherit a sum (if things go well) when he is about to retire himself.

Is this picture wrong? Or are my values really that screwed up?

->Posting last edited on Thu, 27 Feb 2014 03:30:37.
_______________________________________
Saabs owned:
2008 9-5 Aero Sedan, sold at 227K miles
2006 9-3SC 2.0T - Wife's daily driver
2000 Viggen Convertible - Sold May, 2022
1964 Quantum IV Formula Car - Retirement project
2000 9-5lpt Sedan, sold at 318K miles
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