Paying for college $75K

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

My VT CS grad has multiple offers and his first job was a result of an internship with a starting salary at a cyber security company of 110k. He’s one year in and his first stock options have just vested.

I’m very glad he was sensible and went to a state school. Can’t imagine MIT would have yielded better results. Absolutely no ROI in paying 200k more for an undergrad.

Just FYI, my recent MIT graduate got a first year package of $650k fresh out of college. Not saying, it applies to every MIT graduates but there were a handful of them who got a similar package the same year.

Doing what? I highly doubt that he got that.

Quantitative research for a quant trading firm/hedge fund. Think about firms like Citadel, Jane Street, Hudson River Trading.

Sell out. What a waste.

Somebody is jealous!

I don't think it is jealousy to be upset that our best and brightest are going into careers that contribute nothing to society, rather than engineering or science of health or something that could possibly improve peoples lives in some way.

That's your very own and biased view based on your very lack of understanding of how the world or economy works. I guess should shut down all of these stock markets to make you happy.

Your kid is likely doing HFT or something similar. I know that world. Please don’t try to convince us they are helping the economy.

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

My VT CS grad has multiple offers and his first job was a result of an internship with a starting salary at a cyber security company of 110k. He’s one year in and his first stock options have just vested.

I’m very glad he was sensible and went to a state school. Can’t imagine MIT would have yielded better results. Absolutely no ROI in paying 200k more for an undergrad.

Just FYI, my recent MIT graduate got a first year package of $650k fresh out of college. Not saying, it applies to every MIT graduates but there were a handful of them who got a similar package the same year.

Doing what? I highly doubt that he got that.

Quantitative research for a quant trading firm/hedge fund. Think about firms like Citadel, Jane Street, Hudson River Trading.

Sell out. What a waste.

Somebody is jealous!

I don't think it is jealousy to be upset that our best and brightest are going into careers that contribute nothing to society, rather than engineering or science of health or something that could possibly improve peoples lives in some way.

That's your very own and biased view based on your very lack of understanding of how the world or economy works. I guess should shut down all of these stock markets to make you happy.

As an economist, I know exactly how the world works. And if you think high frequency trading does anything to improve the world, you are very much mistaken.

Lol I posted the exact same thing. Really PP, your kid is free to enjoy his money but I hope he isn’t as deluded as you in thinking he is saving the world 😂

[Anonymous]

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

Open AI only has 375 employees, so even CS grads from mit aren’t getting jobs there. Also, they rely mostly on cheap offshored labor.

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

I have the whole picture. No firm takes 50% of the students in a specific major at a T10 school. Very few firms only hire from T20 schools. Kids at VaTech/UMD/GMU all get jobs at FAANG. And not everyone wants to work there. Go to a "non-MIT" school in CS and you will still get an amazing job, and it might even be FAANG except you didn't go into major debt to do so. If not, you will still have a great job. Not sure why everyone is so obsessed with working at the "top firms" immediately, or ever really.

Where you go for undergrad can make a difference when you apply to graduate programs. Not saying they need to go to MIT but something to keep in mind, not everyone is done after 4 years.

And go look at MIT/CalTech/Berkley/CMU/other T25 schools and see where their PHD candidates went to undergrad. Many come from smaller, much lesser known schools. In fact, you can shine in undergrad, many advantages to being top dog at a school of 5-8K, you can do research with the profs as undergrads, they truly get to know you so can write amazing recommendations. Yes, many come from T25 schools, but only about 50%. And that is to be expected because the nature of a kid who got into a T25 school is that they are driven, hard working and almost always achieve their goals. But plenty of kids from other schools go to T25 for grad school.

Are you someone who considers SLACs lesser known? T25 + state flagship + SLACs + international will make up most of the candidates. I don’t think you’ll see many PhD candidates at MIT coming out of the fourth best public in a given state

See the 12:46 comment. T25+State flagship +SLAC does not equal 250+.

https://mitsloan.mit.edu/phd/students/current-phd-students

Lost of international, flagship, T25, and SLAC. I didn't click on all of them, but I don't see any other category on the ones that I did click on

That is Sloan though. If you look in the schools of engineering and science there is more diversity. It’s not going to be fourth best public in the state however.

[Anonymous]

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

Is this really the hill you want to die on? If a kid and their parents believe they have the stats to get into HYPSM, the overwhelming likelihood is that they will apply, and try to figure out a way to attend if they get in. They will not settle for VT.

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

I have the whole picture. No firm takes 50% of the students in a specific major at a T10 school. Very few firms only hire from T20 schools. Kids at VaTech/UMD/GMU all get jobs at FAANG. And not everyone wants to work there. Go to a "non-MIT" school in CS and you will still get an amazing job, and it might even be FAANG except you didn't go into major debt to do so. If not, you will still have a great job. Not sure why everyone is so obsessed with working at the "top firms" immediately, or ever really.

Where you go for undergrad can make a difference when you apply to graduate programs. Not saying they need to go to MIT but something to keep in mind, not everyone is done after 4 years.

And go look at MIT/CalTech/Berkley/CMU/other T25 schools and see where their PHD candidates went to undergrad. Many come from smaller, much lesser known schools. In fact, you can shine in undergrad, many advantages to being top dog at a school of 5-8K, you can do research with the profs as undergrads, they truly get to know you so can write amazing recommendations. Yes, many come from T25 schools, but only about 50%. And that is to be expected because the nature of a kid who got into a T25 school is that they are driven, hard working and almost always achieve their goals. But plenty of kids from other schools go to T25 for grad school.

You should not got to a school of 5-8k and expect that you will be able to do research with a professor. Schools that small do not have graduate students and the professors are not expected, and realistically cannot because of teaching commitments, conduct research. At R1 universities T25 or otherwise, professors are expected to have research programs.

Oh my gosh, STOP. You are terribly mistaken about higher education. There are grad students at medium size schools and research is there. Some would argue that it's easier for undergrads to get into the labs at a medium sized school than a big state u. Stop. Stop. Stop.You don't know what you're talking about.

[Anonymous]

I'm actually laughing right now because this person who keeps arguing is so clueless about higher ed. It's amazing.

Look, I'm sure you're smart about your thing, but you need to take several seats right now and stop giving advice. You don't know what you're talking about.

Amazingly, we also have kids who pick a SLAC over a big name because of fit. You now, you tend to do better in class when you aren't miserable outside of it.

[Anonymous]

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

Is this really the hill you want to die on? If a kid and their parents believe they have the stats to get into HYPSM, the overwhelming likelihood is that they will apply, and try to figure out a way to attend if they get in. They will not settle for VT.

Not the poster you are responding to. My kid is the one who’s first job out of VT was 110k with stop options that just vested. Since his interest was computer science HYPSM was of little interest. Mainly because only 2 of them were of interest for CS one of which was way too far. He did not apply to MIT. However he did apply and get into to Georgia Tech, Michigan, UMD, and Cornell (amount about a half dozen others). We were pretty firm that we were not paying for any expenses higher than what we would have paid OOS. We do make well over 700k/yr but don’t waste our money. Turns out we were correct and a year later he has gotten a raise, received some stocks and is currently house hunting all before age 24.

[Anonymous]

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

Is this really the hill you want to die on? If a kid and their parents believe they have the stats to get into HYPSM, the overwhelming likelihood is that they will apply, and try to figure out a way to attend if they get in. They will not settle for VT.

Not the poster you are responding to. My kid is the one who’s first job out of VT was 110k with stop options that just vested. Since his interest was computer science HYPSM was of little interest. Mainly because only 2 of them were of interest for CS one of which was way too far. He did not apply to MIT. However he did apply and get into to Georgia Tech, Michigan, UMD, and Cornell (amount about a half dozen others). We were pretty firm that we were not paying for any expenses higher than what we would have paid OOS. We do make well over 700k/yr but don’t waste our money. Turns out we were correct and a year later he has gotten a raise, received some stocks and is currently house hunting all before age 24.

+1 similar story for my niece who decided against an expensive SLAC over the large in state flagship. 25 and buying her first place while most of her friends are still struggling to pay off student loans.

[Anonymous]

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Anonymous wrote:I work at a law school and I would hazard to say that a 4.0 at some undergraduate institutions is not held in the same regard as others. But it is only one piece of a picture, not the whole thing. But it is silly to say that where you go to school doesn't matter for graduate school. It absolutely does.

Lawyer here. I agree. Even in government, where I've done a LOT of hiring, the execs have def expressed the desire for top institutions vs. state schools. I've always pushed back on that but lost every time.

lol they are so misguided...the salaries are way too low for all of that

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

My VT CS grad has multiple offers and his first job was a result of an internship with a starting salary at a cyber security company of 110k. He’s one year in and his first stock options have just vested.

I’m very glad he was sensible and went to a state school. Can’t imagine MIT would have yielded better results. Absolutely no ROI in paying 200k more for an undergrad.

Just FYI, my recent MIT graduate got a first year package of $650k fresh out of college. Not saying, it applies to every MIT graduates but there were a handful of them who got a similar package the same year.

Doing what? I highly doubt that he got that.

Quantitative research for a quant trading firm/hedge fund. Think about firms like Citadel, Jane Street, Hudson River Trading.

Sell out. What a waste.

Somebody is jealous!

I don't think it is jealousy to be upset that our best and brightest are going into careers that contribute nothing to society, rather than engineering or science of health or something that could possibly improve peoples lives in some way.

That's your very own and biased view based on your very lack of understanding of how the world or economy works. I guess should shut down all of these stock markets to make you happy.

As an economist, I know exactly how the world works. And if you think high frequency trading does anything to improve the world, you are very much mistaken.

Lol I posted the exact same thing. Really PP, your kid is free to enjoy his money but I hope he isn’t as deluded as you in thinking he is saving the world 😂

Who is deluded? The parent who is bragging about their kid making 100k out of VT? You think they're saving the world?

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

My VT CS grad has multiple offers and his first job was a result of an internship with a starting salary at a cyber security company of 110k. He’s one year in and his first stock options have just vested.

I’m very glad he was sensible and went to a state school. Can’t imagine MIT would have yielded better results. Absolutely no ROI in paying 200k more for an undergrad.

Just FYI, my recent MIT graduate got a first year package of $650k fresh out of college. Not saying, it applies to every MIT graduates but there were a handful of them who got a similar package the same year.

Doing what? I highly doubt that he got that.

Quantitative research for a quant trading firm/hedge fund. Think about firms like Citadel, Jane Street, Hudson River Trading.

Sell out. What a waste.

Somebody is jealous!

I don't think it is jealousy to be upset that our best and brightest are going into careers that contribute nothing to society, rather than engineering or science of health or something that could possibly improve peoples lives in some way.

That's your very own and biased view based on your very lack of understanding of how the world or economy works. I guess should shut down all of these stock markets to make you happy.

As an economist, I know exactly how the world works. And if you think high frequency trading does anything to improve the world, you are very much mistaken.

Lol I posted the exact same thing. Really PP, your kid is free to enjoy his money but I hope he isn’t as deluded as you in thinking he is saving the world 😂

No one is saving the world, including yourself. And it's okay. The best contribution one can make to the society is not to be a jackas* while judging others and asking them to save the world.

[Anonymous]

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Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

My VT CS grad has multiple offers and his first job was a result of an internship with a starting salary at a cyber security company of 110k. He’s one year in and his first stock options have just vested.

I’m very glad he was sensible and went to a state school. Can’t imagine MIT would have yielded better results. Absolutely no ROI in paying 200k more for an undergrad.

Just FYI, my recent MIT graduate got a first year package of $650k fresh out of college. Not saying, it applies to every MIT graduates but there were a handful of them who got a similar package the same year.

Doing what? I highly doubt that he got that.

Quantitative research for a quant trading firm/hedge fund. Think about firms like Citadel, Jane Street, Hudson River Trading.

Sell out. What a waste.

Somebody is jealous!

I don't think it is jealousy to be upset that our best and brightest are going into careers that contribute nothing to society, rather than engineering or science of health or something that could possibly improve peoples lives in some way.

That's your very own and biased view based on your very lack of understanding of how the world or economy works. I guess should shut down all of these stock markets to make you happy.

Your kid is likely doing HFT or something similar. I know that world. Please don’t try to convince us they are helping the economy.

I don't remember, who claimed to being helping the economy or saving the world, although I totally disagree with you. And this is a Money forum, isn't it?

[Anonymous]

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Anonymous wrote:

Anonymous wrote:I work at a law school and I would hazard to say that a 4.0 at some undergraduate institutions is not held in the same regard as others. But it is only one piece of a picture, not the whole thing. But it is silly to say that where you go to school doesn't matter for graduate school. It absolutely does.

Lawyer here. I agree. Even in government, where I've done a LOT of hiring, the execs have def expressed the desire for top institutions vs. state schools. I've always pushed back on that but lost every time.

lol they are so misguided...the salaries are way too low for all of that

I thought you were all about saving the world? Why do salaries matter now?

[Anonymous]

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

Is this really the hill you want to die on? If a kid and their parents believe they have the stats to get into HYPSM, the overwhelming likelihood is that they will apply, and try to figure out a way to attend if they get in. They will not settle for VT.

Not the poster you are responding to. My kid is the one who’s first job out of VT was 110k with stop options that just vested. Since his interest was computer science HYPSM was of little interest. Mainly because only 2 of them were of interest for CS one of which was way too far. He did not apply to MIT. However he did apply and get into to Georgia Tech, Michigan, UMD, and Cornell (amount about a half dozen others). We were pretty firm that we were not paying for any expenses higher than what we would have paid OOS. We do make well over 700k/yr but don’t waste our money. Turns out we were correct and a year later he has gotten a raise, received some stocks and is currently house hunting all before age 24.

Not sure if you're high or just ignorant. But even the CS programs at HYP are tiers above VT's, let alone MIT and Stanford. Getting into GTech and Cornell has zero indication of their chance of getting into HYPSM. I think you're just trying to justify yourself for being cheap on your kid's education.