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Post being replied to

My experience as a parent 25 years ago by SixShutouts66

Rather than respond to several posts, I'd like to group my responses in one place. As background our sons (one California state school, one ND) graduated in 95 and 96 and our daughter (ND) graduated in 2000. As a first level manager in an aerospace company and software developer, none of our children received financial aid from the schools.

Our "aid" was a parent loan that we refinanced our house and later took a job overseas (huge tax breaks). We chose (and have zero regrets) to cover the costs and leave our kids with a debt of about $5000.

Point 1: Parent loans seemed common in those days and for many students the parent/student mix of loans differed from our choice.

Point 2: People are missing the implications of median student debt (19K) and average student debt (38K). The normal distribution or bell-shaped curve, which most have some familiarity with, is symmetric - so the median and average would be real close to the same number. Some percentage of the students are balancing off the students (perhaps most of the Pell Grant recipients) with quite sizable loans. An honest presentation would break this down further - perhaps by undergrad vs grad/professional schools, by each school, and debt by decile.

Point 3: Although I have no evidence that schools try to/have to admit those paying full-freight+, it seems necessary. I would assume that the businesses known as universities expect a certain amount of tuition income to help balance the books. As an exercise in reductio ad absurdum, ND is not positioned to accept a class that is 100% Pell Grant or very low income students. It's certainly publicity that schools don't want (taking in rich kids), but I have to believe it occurs anywhere that schools rely on tuition income as a major source of revenue. Plus they're more likely to donate a dorm or endow a football coach's position.

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