Is 20k a year less a reason to choose the cheaper school?

[Anonymous]

If almost all else is equal?

[Anonymous]

Ummm. If all else is equal, why wouldn't you choose the cheaper school?

[Anonymous]

Depends on how that 80k looks in your family budget.

[Anonymous]

Anonymous wrote:Depends on how that 80k looks in your family budget.

This 100%

There is no "magical right answer". We let our kid turn down $40K merit per year and attend a similar (slightly higher ranked if that matter) but somewhat better fit for our kid (with the intangibles, like ECs and the type of student). Both schools were $85K+/year. So we pay $40K extra each year. However it's a blip on our financial radar, and the money is already in the 529 with plenty more for grad school.

If that extra $40K meant debt for our kid or us, then they'd be at the cheaper school

[Anonymous]

Anonymous wrote:

Anonymous wrote:Depends on how that 80k looks in your family budget.

This 100%

There is no "magical right answer". We let our kid turn down $40K merit per year and attend a similar (slightly higher ranked if that matter) but somewhat better fit for our kid (with the intangibles, like ECs and the type of student). Both schools were $85K+/year. So we pay $40K extra each year. However it's a blip on our financial radar, and the money is already in the 529 with plenty more for grad school.

If that extra $40K meant debt for our kid or us, then they'd be at the cheaper school

What is your hhi?

[Anonymous]

To me it is, but DCUM would consider me poor.

[Anonymous]

If there’s not a huge difference in fit, or opportunities, I’d go with less expensive. 20k/yr out-of-pocket is significant. Maybe you take some portion of that and give it as a down payment, or start an investment portfolio for DC.

If you think the kid is more likely to hit the ground running — to show up more fully — at the more expensive school, that’s a different equation.

We have a similar choice, though the $ gap is bigger and I’m not sure all else is in fact equal. We go back and forth.

[Anonymous]

Not if full pay and money is sitting in a 529. We allowed DC to pick the best fit school and gave up merit everywhere else.

[Anonymous]

Question really is what else would you do with the money

[Anonymous]

Major is the most important, if it's not stem don't waste your moneu

[Anonymous]

If all things were really equal, it would be for us. But are they?

[Anonymous]

For me that would be a huge factor. We don’t have college funded though and 80k is a huge amount of money for us.
We’re happy to help DD but are not providing a free ride.

[Anonymous]

Anonymous wrote:If almost all else is equal?

what is making it not quite equal?

[Anonymous]

80k put into a Roth IRA before age 25 would pretty much secure the kids retirement.

[Anonymous]

Which one is the kid most excited about and feels more like home for the kid? Pick that one.