I received my SAT scores today, and they are quite high (level 4, 2350). Also, I am doing 7 extra-curricular activities, I'm president of National Honors Society, and a minority (African American female). so I believe that I can make it to my number one college, Stanford, for my undergrad and for medical school. However, Stanford is quite the highway robbery. My parents (physician and stay-at-home mom) make a combined total of $728,000 before taxes. After taxes is $371,000. I know that Stanford won't consider me for financial aid because of those factors.
All 3 of my siblings also desire to go through medschool. Stanford costs around $55,000 per year, including room and board. My undergrad will take about 4 years, and medical school will take another 4 years. That's $440,000 just on college for ONE child. Multiply that by four children, and you get $1,760,000. Even somebody who makes $200,000+ a year is not going to be able to pay off all of that without debt.
I have received some scholarships for being a minority ($5,000), but that'll barely make a dent in it. Student loans are a possibility, but the debt that will undoubtedly pile up and screw us over scares me. I don't want to necessarily lie on the financial aid forms, rather, just stretch the truth. On the form, I plan on taking my parent's income and subtracting the frills and whistles. For example, my dad makes about $100,000 or so extra in bonuses. If I subtract his sporadic bonuses from his income, after taxes I can say he makes $270,000 a year, which barely meets the financial aid barrier at Stanford.
My parents always say that I should always go for my dreams, at no cost. But, I don't want them to live off of mustard sandwiches for the rest of their lives because I picked an expensive college. So is it okay to "stretch the truth" for a grant? Or should I just scrap the whole idea and go to a community college?
Thanks so much!
All 3 of my siblings also desire to go through medschool. Stanford costs around $55,000 per year, including room and board. My undergrad will take about 4 years, and medical school will take another 4 years. That's $440,000 just on college for ONE child. Multiply that by four children, and you get $1,760,000. Even somebody who makes $200,000+ a year is not going to be able to pay off all of that without debt.
I have received some scholarships for being a minority ($5,000), but that'll barely make a dent in it. Student loans are a possibility, but the debt that will undoubtedly pile up and screw us over scares me. I don't want to necessarily lie on the financial aid forms, rather, just stretch the truth. On the form, I plan on taking my parent's income and subtracting the frills and whistles. For example, my dad makes about $100,000 or so extra in bonuses. If I subtract his sporadic bonuses from his income, after taxes I can say he makes $270,000 a year, which barely meets the financial aid barrier at Stanford.
My parents always say that I should always go for my dreams, at no cost. But, I don't want them to live off of mustard sandwiches for the rest of their lives because I picked an expensive college. So is it okay to "stretch the truth" for a grant? Or should I just scrap the whole idea and go to a community college?
Thanks so much!