Paying for College 101

[Anonymous]

.. is this place crazy?

everyone is so mean. and usually wrong. Is this another site that's smart about actually paying for college for UMC families?

[Anonymous]

We started contributing to our kid's 529 accounts right after they were born. My oldest is a Senior and we could now pay for in-state schools ($38k /yr and have some leftover).

Start putting a percentage of your salary into retirement as soon as you land your first job--every year. After your kid is born-- set up a 529 and start yearly contributions.

Always have health insurance. Don't spend wildly. Fiscal responsibility.

[Anonymous]

Not sure this is the best lead in to ask for help.

[Anonymous]

The main route is choosing schools that are affordable and writing checks.

[Anonymous]

Paying for College 101 is 100% crazy. They are always mean and always wrong. Do NOT take any financial advice from that page.

[Anonymous]

Anonymous wrote:Not sure this is the best lead in to ask for help.

This is a post referring to the Facebook page by that name I think? There's also one called Paying For College for High-Income Families 101 (they define that as 150K and up). Haven't joined but wonder if it would be more focused on UMC issues.

[Anonymous]

Anonymous wrote:Not sure this is the best lead in to ask for help.

she's talking about the popular FB page Paying for College 101. There are a couple hundred thousand people on that site, all blasting insane advice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Not sure this is the best lead in to ask for help.

This is a post referring to the Facebook page by that name I think? There's also one called Paying For College for High-Income Families 101 (they define that as 150K and up). Haven't joined but wonder if it would be more focused on UMC issues.

I tried that site. It's run by a guy Mike who wants you to buy his services. Not helpful

[Anonymous]

There are several self-proclaimed experts on each of the popular sites - Paying for College 101, College Confidential, A2C - that are often wrong and it totally irks me. There's one guy on Paying for College 101 that is right now in an argument about LLCs and he's so off base and also self-important and it's super annoying. I think he helps very low income incomes, which is great, but he has no idea what he's talking about when it comes to taxes and I wish he'd stop.

Maybe it's better that it's confidential here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Not sure this is the best lead in to ask for help.

This is a post referring to the Facebook page by that name I think? There's also one called Paying For College for High-Income Families 101 (they define that as 150K and up). Haven't joined but wonder if it would be more focused on UMC issues.

I tried that site. It's run by a guy Mike who wants you to buy his services. Not helpful

I found some of the advice from other members helpful because it focuses on UMC families. However, I ignore Mike and don't find him helpful.

[Anonymous]

Short of a time machine increase 529 contributions or settling for a lesser school with merit, there isn't much advice to give

[Anonymous]

Don’t tell your kid they can go anywhere unless you are wealthy. That is stupid. Be forthright about what the budget is. We are actually wealthy Virginia residents and we told our kids it’s in state unless you get into HYPMS. The middling private schools are a huge waste of money imho. Higher ed is one big festering scam. Best to not lose your shirt over it.

[Anonymous]

Anonymous wrote:Don’t tell your kid they can go anywhere unless you are wealthy. That is stupid. Be forthright about what the budget is. We are actually wealthy Virginia residents and we told our kids it’s in state unless you get into HYPMS. The middling private schools are a huge waste of money imho. Higher ed is one big festering scam. Best to not lose your shirt over it.

So you would say no to Wharton or Hopkins or Carnegie Mellon or Williams?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Don’t tell your kid they can go anywhere unless you are wealthy. That is stupid. Be forthright about what the budget is. We are actually wealthy Virginia residents and we told our kids it’s in state unless you get into HYPMS. The middling private schools are a huge waste of money imho. Higher ed is one big festering scam. Best to not lose your shirt over it.

So you would say no to Wharton or Hopkins or Carnegie Mellon or Williams?

Wharton is a different story. There is an obvious VALUE PROPOSITION there. I was referring to undergrad - the math is different for a final degree. Would I waste the extra money to send a kid to Williams over UVA undergrad? Not in a million years. Particularly since employers much prefer a state flagship over delicate snowflake U.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Don’t tell your kid they can go anywhere unless you are wealthy. That is stupid. Be forthright about what the budget is. We are actually wealthy Virginia residents and we told our kids it’s in state unless you get into HYPMS. The middling private schools are a huge waste of money imho. Higher ed is one big festering scam. Best to not lose your shirt over it.

So you would say no to Wharton or Hopkins or Carnegie Mellon or Williams?

Wharton is a different story. There is an obvious VALUE PROPOSITION there. I was referring to undergrad - the math is different for a final degree. Would I waste the extra money to send a kid to Williams over UVA undergrad? Not in a million years. Particularly since employers much prefer a state flagship over delicate snowflake U.

You can go to Wharton undergrad and there are very few employers who would cross off a Williams applicant (maybe Liberty media)