Families Downsizing Dream Colleges for Economic Reality

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In a USA Today article today, students have seemingly chosen second-tier schools over dream schools, based on the economic reality of financial aid packages. The article appears here.

Students are staying closer to home (even as some colleges are increasing financial aid), and seeking the better financial aid packages as a deciding factor in their college decisions.

If you read the article, what did you think? If you have a student in college or nearing college, how did the financial aspect weigh in the decision?

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idonia,

My son made his decision based partially on the financial aid offered at each school. It was amazing the difference in offers from two schools with very similar rankings.

No one is going to ask where your daughter started, so where she graduates will be what matters.

My daughter had been accepted to her dream school, a private college, but had to turn them down due to my income being greatly reduced this year due to the economy. They offered her very little in the way of a scholarship and expected her to take out loans to cover the balance. I do not want her saddled with debt by the time she graduates. We discussed it and she will be attending the local community college for two years and then hopefully she will be able to attend her dream school.

College is affordable if your student takes CLEP/DSST tests. They can be taken at any age as long as you have 2 forms of ID. You can CLEP out of an entire BA, if desired!

I agree, MSMomm. My son's mantra has become "This is not my terminal degree." Lucky (or unlucky) for us, he's going to require a masters and more than likely a PhD to get where he wants to go, so coming out of a bachelors degree with no debt is pretty key.

And that CSU campus is phenomenal--for a variety of majors.

My daughter was bummed that she wasn't accepted into her first choice (an East Coast university) and her second choice (a private So Cal university). But she's since been to the campus of the CSU that accepted her application, and she's pleased with that choice.

She's also thinking that she can attend the CSU and get her degree and possibly attend her "dream school" for her Masters. A lot can change in between, too.

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