Cost of attendance? Wow

[Anonymous]

My DS is starting to think of colleges (he's fifteen) and I was casually browsing some of the smaller, private schools-- the cost of these places is insane. Yes, we're realistic (529 plan and know that college is expensive). It just struck me that there are so *many* extremely expensive colleges, and most of them I've never heard of or wouldn't think twice about if I saw them on a resume.
I'm not trying to stir a fight-- I know that colleges are a lot about fit, and maybe these places offer something extraordinary, but many seem like rich people schools-- one said they basically cavort in LL Bean and music is a top major-- cost of attendance $80,000. SMH.

[Anonymous]

Per year?

[Anonymous]

Anonymous wrote:Per year?

OP here-- yes!! Per year!! I'm sure that they offer a lot more in terms of academics, but it wasn't a great selling point for the middle class.

[Anonymous]

That's why some of us send our kids to public as we cannot do $80K per year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Per year?

OP here-- yes!! Per year!! I'm sure that they offer a lot more in terms of academics, but it wasn't a great selling point for the middle class.

OP, I doubt you are real middle class. You don't make under $80-100K. They offer the same academics. You are paying for name and prestige. Its all about luck with the professors your child gets.

[Anonymous]

Anonymous wrote:My DS is starting to think of colleges (he's fifteen) and I was casually browsing some of the smaller, private schools-- the cost of these places is insane. Yes, we're realistic (529 plan and know that college is expensive). It just struck me that there are so *many* extremely expensive colleges, and most of them I've never heard of or wouldn't think twice about if I saw them on a resume.
I'm not trying to stir a fight-- I know that colleges are a lot about fit, and maybe these places offer something extraordinary, but many seem like rich people schools-- one said they basically cavort in LL Bean and music is a top major-- cost of attendance $80,000. SMH.

I'm middle-aged and one of the SLACs I considered in the early 90s was $26k a year (including room and board), so just over $100K for four years. At the time, it was the second most expensive private college in the country. The exponential rate of college pricing is disgraceful, and tied heavily into the behemoth student loan industry.

[Anonymous]

It's worth looking on niche to see average tuition paid. A lot of those schools have ridiculous tuition in part to subsidize lower income kids so an 80k cost doesn't mean everyone is a rich kid. (Although yes, it might mean half the class is rich, and you might not get much aid if you have decent assets saved).

[Anonymous]

Anonymous wrote:

Anonymous wrote:My DS is starting to think of colleges (he's fifteen) and I was casually browsing some of the smaller, private schools-- the cost of these places is insane. Yes, we're realistic (529 plan and know that college is expensive). It just struck me that there are so *many* extremely expensive colleges, and most of them I've never heard of or wouldn't think twice about if I saw them on a resume.
I'm not trying to stir a fight-- I know that colleges are a lot about fit, and maybe these places offer something extraordinary, but many seem like rich people schools-- one said they basically cavort in LL Bean and music is a top major-- cost of attendance $80,000. SMH.

I'm middle-aged and one of the SLACs I considered in the early 90s was $26k a year (including room and board), so just over $100K for four years. At the time, it was the second most expensive private college in the country. The exponential rate of college pricing is disgraceful, and tied heavily into the behemoth student loan industry.

Bennington?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Per year?

OP here-- yes!! Per year!! I'm sure that they offer a lot more in terms of academics, but it wasn't a great selling point for the middle class.

OP, I doubt you are real middle class. You don't make under $80-100K. They offer the same academics. You are paying for name and prestige. Its all about luck with the professors your child gets.

OP here-- no, I'm considered UMC by most standards, but I was raised in poverty and it still shapes a lot of my thinking about value. The problem with name and prestige is that I've never heard of a lot of these colleges until I started googling them for my son. I used to make hiring decisions at my previous job (at a University, ironically)--we didn't really pay much attention to "place of education" unless someone had an advance degree or they graduated from a big shot school like Stanford.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My DS is starting to think of colleges (he's fifteen) and I was casually browsing some of the smaller, private schools-- the cost of these places is insane. Yes, we're realistic (529 plan and know that college is expensive). It just struck me that there are so *many* extremely expensive colleges, and most of them I've never heard of or wouldn't think twice about if I saw them on a resume.
I'm not trying to stir a fight-- I know that colleges are a lot about fit, and maybe these places offer something extraordinary, but many seem like rich people schools-- one said they basically cavort in LL Bean and music is a top major-- cost of attendance $80,000. SMH.

I'm middle-aged and one of the SLACs I considered in the early 90s was $26k a year (including room and board), so just over $100K for four years. At the time, it was the second most expensive private college in the country. The exponential rate of college pricing is disgraceful, and tied heavily into the behemoth student loan industry.

This. I graduated in ‘91. Tuition has gone up at literally twice the rate of inflation at my alma mater. I pray my kids get into UVA. I won’t pay for them to go where I went to school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Per year?

OP here-- yes!! Per year!! I'm sure that they offer a lot more in terms of academics, but it wasn't a great selling point for the middle class.

OP, I doubt you are real middle class. You don't make under $80-100K. They offer the same academics. You are paying for name and prestige. Its all about luck with the professors your child gets.

OP here-- no, I'm considered UMC by most standards, but I was raised in poverty and it still shapes a lot of my thinking about value. The problem with name and prestige is that I've never heard of a lot of these colleges until I started googling them for my son. I used to make hiring decisions at my previous job (at a University, ironically)--we didn't really pay much attention to "place of education" unless someone had an advance degree or they graduated from a big shot school like Stanford.

This is OP-- I'm not knocking the quality of these schools btw, but it's sticker shock. Even the public universities are crazy expensive for out of state students-- although that varies a lot.

[Anonymous]

This is why there are constant articles and discussion about college costs. Most UMC folks are usually well aware of this.

[Anonymous]

I agree, op. It’s a shame and a scandal. We’re saving for public university and will urge our kids to choose wisely in terms of value. We both went to Top 20 SLACs, but not sure they’re going to be a smart investment for our kids.

[Anonymous]

Anonymous wrote:This is why there are constant articles and discussion about college costs. Most UMC folks are usually well aware of this.

OP here-- yes, as previously stated, we know college is expensive and will have enough for most (not all) schools if DS does his part to make good grades and be responsible. I was just surprised that there were so many expensive colleges and even the well regarded public schools are a lot (I think UMich was something like 69K per year once you factor living expenses). I don't know how people who aren't rich and don't qualify for financial aid afford anything except in-state-- even then, the cost has gone up a lot.

[Anonymous]

Anonymous wrote:I agree, op. It’s a shame and a scandal. We’re saving for public university and will urge our kids to choose wisely in terms of value. We both went to Top 20 SLACs, but not sure they’re going to be a smart investment for our kids.

This is OP-- this is what I'm thinking about-- outside of a certain area, a lot of the schools don't have the brand recognition. Any Ivy League school will be recognized most places, but others, not so much. I realize that some schools may be highly regarded and well-known for certain majors-- so that could be an exception. As I said, I'm not trying to be nasty or target any particular school-- it just struck me as absolutely ridiculous.