Top Colleges Are Cheaper Than You Think (Unless You’re Rich)

[Anonymous]

Anonymous wrote:

Anonymous wrote:We're a two earner house, each making about 100K in the DC area. Modest suburban house, two cars purchased used. Thrifty but not penny pinching lifestyle. From a paying for college perspective, it almost seems like one of us should quit our job and be a stay at home parent. Am I missing something?

Respectfully, yes. You are in the top 5% of US earners.

https://statisticalatlas.com/United-States/Household-Income

I know you don't feel rich, but you are certainly affluent compared to the other applicants. These are the raw facts colleges have to deal with. 95% of their prospects earn less than you, and half earn less than 1/4. Yes it sucks but please tell me how else it could possibly be?

The colleges could charge of all us less. They could charge less to the poor and to the rich. I'd be happy if the poor paid nothing if I could pay only $30k/year. We could all win if colleges lowered tuition, and went back to their core mission, like they did in the 60s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're a two earner house, each making about 100K in the DC area. Modest suburban house, two cars purchased used. Thrifty but not penny pinching lifestyle. From a paying for college perspective, it almost seems like one of us should quit our job and be a stay at home parent. Am I missing something?

Respectfully, yes. You are in the top 5% of US earners.

https://statisticalatlas.com/United-States/Household-Income

I know you don't feel rich, but you are certainly affluent compared to the other applicants. These are the raw facts colleges have to deal with. 95% of their prospects earn less than you, and half earn less than 1/4. Yes it sucks but please tell me how else it could possibly be?

The colleges could charge of all us less. They could charge less to the poor and to the rich. I'd be happy if the poor paid nothing if I could pay only $30k/year. We could all win if colleges lowered tuition, and went back to their core mission, like they did in the 60s.

Which colleges could charge less? Public or privates?

And what would change related to the core mission you refer to?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're a two earner house, each making about 100K in the DC area. Modest suburban house, two cars purchased used. Thrifty but not penny pinching lifestyle. From a paying for college perspective, it almost seems like one of us should quit our job and be a stay at home parent. Am I missing something?

Respectfully, yes. You are in the top 5% of US earners.

https://statisticalatlas.com/United-States/Household-Income

I know you don't feel rich, but you are certainly affluent compared to the other applicants. These are the raw facts colleges have to deal with. 95% of their prospects earn less than you, and half earn less than 1/4. Yes it sucks but please tell me how else it could possibly be?

The colleges could charge of all us less. They could charge less to the poor and to the rich. I'd be happy if the poor paid nothing if I could pay only $30k/year. We could all win if colleges lowered tuition, and went back to their core mission, like they did in the 60s.

The privates. I'd love to see a detailed budget for a private. Also, I looked on the web for UMD's budget, but they carefully lump things into categories that makes it hard to figure out how much is being spent on teaching faculty, how much on grounds, how much on administrators, ... they make sure we can not really see the numbers that would upset us.

Which colleges could charge less? Public or privates?

And what would change related to the core mission you refer to?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're a two earner house, each making about 100K in the DC area. Modest suburban house, two cars purchased used. Thrifty but not penny pinching lifestyle. From a paying for college perspective, it almost seems like one of us should quit our job and be a stay at home parent. Am I missing something?

Respectfully, yes. You are in the top 5% of US earners.

https://statisticalatlas.com/United-States/Household-Income

I know you don't feel rich, but you are certainly affluent compared to the other applicants. These are the raw facts colleges have to deal with. 95% of their prospects earn less than you, and half earn less than 1/4. Yes it sucks but please tell me how else it could possibly be?

The colleges could charge of all us less. They could charge less to the poor and to the rich. I'd be happy if the poor paid nothing if I could pay only $30k/year. We could all win if colleges lowered tuition, and went back to their core mission, like they did in the 60s.

Which colleges could charge less? Public or privates?

And what would change related to the core mission you refer to?

The privates. I'd love to see a detailed budget for a private. Also, I looked on the web for UMD's budget, but they carefully lump things into categories that makes it hard to figure out how much is being spent on teaching faculty, how much on grounds, how much on administrators, ... they make sure we can not really see the numbers that would upset us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We're a two earner house, each making about 100K in the DC area. Modest suburban house, two cars purchased used. Thrifty but not penny pinching lifestyle. From a paying for college perspective, it almost seems like one of us should quit our job and be a stay at home parent. Am I missing something?

Respectfully, yes. You are in the top 5% of US earners.

https://statisticalatlas.com/United-States/Household-Income

I know you don't feel rich, but you are certainly affluent compared to the other applicants. These are the raw facts colleges have to deal with. 95% of their prospects earn less than you, and half earn less than 1/4. Yes it sucks but please tell me how else it could possibly be?

The colleges could charge of all us less. They could charge less to the poor and to the rich. I'd be happy if the poor paid nothing if I could pay only $30k/year. We could all win if colleges lowered tuition, and went back to their core mission, like they did in the 60s.

Which colleges could charge less? Public or privates?

And what would change related to the core mission you refer to?

The privates. I'd love to see a detailed budget for a private. Also, I looked on the web for UMD's budget, but they carefully lump things into categories that makes it hard to figure out how much is being spent on teaching faculty, how much on grounds, how much on administrators, ... they make sure we can not really see the numbers that would upset us.

I think we all agree it is too expensive overall, but why not attend public colleges then? Private colleges can do whatever they want, and many could charge way more if they wanted and still fill the class.

[Anonymous]

Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

[Anonymous]

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

[Anonymous]

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

I have been trying to say this, but in a kinder way. It's a sensitive issue. I agree with your point but your method is questionable and won't convince anyone. It's hard when you realize you haven't planned properly to give your kid something they really want. It's painful. A little sympathy and understanding is called for.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

What college is that? And what state are you in? Are there no in-state options?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

What college is that? And what state are you in? Are there no in-state options?

well many, many colleges have that price tag these days. Not at all unusual.
Yes, there was a cheaper in-state option but DC didn't want to go there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

I think this is what they call the doughnut-hole. Those families can really get squeezed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

What college is that? And what state are you in? Are there no in-state options?

well many, many colleges have that price tag these days. Not at all unusual.
Yes, there was a cheaper in-state option but DC didn't want to go there.

That is why I ask what college specifically -- it must be one very stingy with need based aid (possibly because of low endowment). Or, assets were possibly high. And also there was a lower cost option.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

What college is that? And what state are you in? Are there no in-state options?

well many, many colleges have that price tag these days. Not at all unusual.
Yes, there was a cheaper in-state option but DC didn't want to go there.

That is why I ask what college specifically -- it must be one very stingy with need based aid (possibly because of low endowment). Or, assets were possibly high. And also there was a lower cost option.

endowment above 500 million but less than a billion.
Yes, I think they are very stingy while trumpeting to the world how they are loan free.
As for a lower cost option (not low cost option), you expect me to demand my kid go to a school they really don't want to attend?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are there seriously people here making 200k+ and bitching about not getting need based aid? Do you even listen to yourselves?

not sure, but how about $130K income and a 68K per year price tag?

What college is that? And what state are you in? Are there no in-state options?

well many, many colleges have that price tag these days. Not at all unusual.
Yes, there was a cheaper in-state option but DC didn't want to go there.

That is why I ask what college specifically -- it must be one very stingy with need based aid (possibly because of low endowment). Or, assets were possibly high. And also there was a lower cost option.

endowment above 500 million but less than a billion.
Yes, I think they are very stingy while trumpeting to the world how they are loan free.
As for a lower cost option (not low cost option), you expect me to demand my kid go to a school they really don't want to attend?

Of course not, assuming it was affordable.

[Anonymous]

Anonymous wrote:Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.

How does a bill of over 50% of your take home pay not "reorder" your life? Especially when you can't even afford a 3 br in this city on $175k?