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College sharing parents finances with students?!?!
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amother




Amethyst
 

Post  Thu, Sep 03 2020, 12:24 pm
amother [ OP ] wrote:
Why do my kids need to know our income? For what purpose? Do your kids know your financial details? Why?

I also don't need help budgeting.

Regarding dd paying for college this year. She threw us in a loop 2 years ago when she suddenly decided to go to seminary in Israel. We paid 20k for seminary. We gave her spending money.

Dd decided that she wants to get a Doctrate. We can't afford to foot the college bill for all our kids.
We discussed that we paid for all her college credits in HS, paid for seminary, but now it's time for her to start paying.

We are willing to help out, (we purchased an expensive computer that she wanted) but we want to make sure that she is serious about school. She overcommitted herself at work recently, and I dont want school to become unimportant.

Nothing wrong with this scenario but sounds like DD is a bit naive regarding finances. The vast majority of people in America are not make million dollar salaries, yet plenty go to college. Many many do not qualify for grants or scholarships. The reality is that most take out loans. Maybe that's what they talked about at the orientation and she misunderstood. Perhaps the questions she was asking seemed to the Fafsa representative to be asking why she didn't qualify and that's why they gave her the income information you had submitted.
If she wants to get a doctorate she has several years of schooling ahead of her, so please make she fully understands what is involved financially and the ramifications of that, because right now it seems like she doesn't.
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amother




OP
 

Post  Thu, Sep 03 2020, 1:14 pm
amother [ Slategray ] wrote:
Because it's none of the kids business to know how much their parents earn!
You're right op I would be upset too! But nothing to do about it now! It was a huge lack of tact on the school's part !
Btw afaik, if child is not a dependant on your tax return anymore he could apply for financial aid on his own, regardless of living arrangements!
You have to see if that makes sense for you, your child would benefit in schooling aid but you would probably have to pay more taxes( less dependant in your household!)


We were informed that up until 24 they use the parents financial, unless you are married.
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amother




OP
 

Post  Thu, Sep 03 2020, 1:17 pm
Update: I spoke to someone at the college and told them the full story. They agreed that sharing our finances with my dd was wrong. They will follow up on this.

I posted here just to get that validation before I reach out to the college.

Yes, my dd knows how expensive her education will be. Hopefully she will attend a larger college next year where they will offer academic scholarships.
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amother




Amethyst
 

Post  Thu, Sep 03 2020, 1:21 pm
amother [ OP ] wrote:
Update: I spoke to someone at the college and told them the full story. They agreed that sharing our finances with my dd was wrong. They will follow up on this.

I posted here just to get that validation before I reach out to the college.

Yes, my dd knows how expensive her education will be. Hopefully she will attend a larger college next year where they will offer academic scholarships.

I recommend more research tbh. Few scholarships give enough to fully cover tuition or even close. I went to a large college and was lucky some years to get $250 a semester, lol.
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