Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 month ago

Can’t afford college for my daughter, what to do? She got into Vanderbilt?

My daughter barely got into Vanderbilt University and she is so excited to go next fall. 

I saw the financial aid offer and it was lackluster it was basically max federal unsubsidized loans and filling in the gap with Parent Plus Loans.

I told her that I can’t afford to send her to Vanderbilt and will not go into debt, drain my retirement, or co sign any student loans for her. I told her that even working 24/7 for minimum wage wouldn’t even pay her full cost of attendance there.

I made a deal that if she won Miss Minnesota she might be able to go to Vanderbilt.  She is considering using an old prom dress, jr prom got cancelled and planning to compete. She plans to win the talent part (she and her friends used to play rock band when the in middle school and she was a halfway decent singer)

The rest of the pageant should be really easy as it’s just walking across a stage to get the crown , sash and the big Check.

She is not yet decided on a major and thinks that the college experience at Vanderbilt will be amazing. She plans to enjoy a full college experience which is something that will be lacking at crappy St. Cloud state.

Is there anything I can do to help her pay for school without compromising my finances? I didn’t put away any 529 plan savings or anything?

Update:

She got rejected for a lot of national scholarships and the scholarships she got could only be used at in state public institutions. She really wants an amazing college experience with Greek life and all the trappings of the “Full Residential College Experience” alongside amazing academics!

Update 2:

She seemed to be up for being interested in winning the pageant, she also said it would be a plus for helping her get into a top tier sorority so she can get more from her college experience.

Update 3:

Those things aren’t hard to win. Her older brother went to Columbia and paid for it mostly on his own. He was an Eagle Scout. He won some Mr Ireland 🇮🇪 contest at a pub and won a few grand. He is a model and racked up some funds that way to pay for a Columbia business degree.

He is now a fairly top selling real estate broker in NYC?

Update 4:

Should i underfeed my daughter prior to the pageant to get her to lose weight. She is slightly overweight and could improve her figure before the pageant. Would that help her win while also saving money on food. 

The CSS profile also says her older brother should also contribute to finding her Vanderbilt Education. His assets and income had to be included. WTH?

Update 5:

I talked to her about taking her basics at a junior college and she said that she wanted the Full Four Year College Experience. 

12 Answers

Relevance
  • a
    Lv 4
    1 month ago

    Trolling? You're going to underfeed her daughter so she wins some podunk beauty pageant with a $100 prize, and that's going to solve her problems?

    Let me tell you how pageants work: Unless the candidate gets sponsors for her expenses, it's going to cost a lot. No her her prom dress won't cut it. If it does, the prizes will be tiny, to reflect the status of the pageant.

    The full residential college experience could be had by going to any state college where she lives on campus.

  • Anonymous
    1 month ago

    Just tell her to take out student loans, then wait for Uncle Joe to pay them off. 

  • garry
    Lv 6
    1 month ago

    guess she had to pay her own way like i did 40 years ago , didnt hurt me so it wont hurt her to work to pay for school .

  • Anonymous
    1 month ago

    You're the one that did not bother to save for her education.  How do you think that makes her feel?  Get three or four part-time jobs and fly right.

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 month ago

    Scholarships should have been applied for. 

  • fcas80
    Lv 7
    1 month ago

    If this school is so important to her, and if it is too expensive for you, then she should take out a loan to pay for it.

    There are lots of fine colleges that will provide the full four year college experience and are cheaper.

    Interesting that your post doesn't talk about her academic interests.

    Good luck.

  • 1 month ago

    want =/= need

    the sooner your daughter learns this, the better off she'll be in life.

  • 1 month ago

    federal unsubsidized loans

    NO SUCH THING. If the government is involved in the loans, the ARE subsidized.

    I made a deal that if she won Miss Minnesota she might be able to go to Vanderbilt.

    If she even placed, that would pay her tuition.

    The rest of the pageant should be really easy as it’s just walking across a stage to get the crown , sash and the big Check.

    If you believe that, she won't even qualify for Miss (insert small town here).

    Is there anything I can do to help her pay for school without compromising my finances?

    You have at least 25 years before your daughter graduates from high school at age 18.

    Your story gets LESS believable the more you add.

  • Anonymous
    1 month ago

    Have her take a year off and work & save money. Or send her to a local junior college the first 2 years while living at home.

  • Kerri
    Lv 4
    1 month ago

    Not much you can do this close to starting college but you could try googling scholarships and applying for every one she’s eligible for no matter how small the amount. She could defer for another year instead of going right away and she could work full time and save it all for school. Or she could go to junior college for general basics then transfer later. Could try online fundraising like go fund me. This late in the game it’s gonna be super hard to fund ivy  league degree without getting loans or going in debt. If it’s this important to her, then finding a job and saving money until school starts is only sure way to build up some cash. It’s 

Still have questions? Get your answers by asking now.