I’m really surprised how many people don’t save for college

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have t read all of the responses but I agree that I’m surprised about people who continue to have kids yet don’t save for college.

I'm surprised at how people willingly pay for private and out of state tuition when better or equal programs exist for the cost of in-state tuition. Especially if they're not going into fields where undergraduate degree "status" matters as much.

+1 We saved for college but with what I consider a reasonable budget. We are willing to pay up to about $40k/yr, which covers any VA public U or a lot of OOs schools with merit aid. My UMC kids are not competitive for the top tier school some might consider worth the $80k price tag and I certainly don't think a lower tier school at a $70K+ full cost is worth that price. There are a lot of solid college options where a kid who puts in the work will do fine. Even if we did have Harvard-caliber kids I don't know that I'd consider it worthwhile to spend that much vs other priorities.

I work with people from a wide range of schools from Ivies to regional publics and we all ended up in the same place so I find it hard to put a lot of stock in rankings. Rankings are really just about wealth and reinforcing preconceived ideas about prestige. I read a book awhile ago about the rise of the USNWR rankings and their first analysis did not have the Ivies at the top. Since the creator found that outcome unacceptable, they rejiggered the formula to make sure they did end up at the top. Some people act as if they are a gospel from on high but they were created to spark conversation and sell magazines and to reinforce a general pecking-order that the creators had in mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How do you know this OP? Weird.

I have a teenager and the topic of college tuition and inability to pay tuition is a big topic.

Actually many people talk about having multiple kids starting college.

Look at these boards even, how many posters mention looking for merit aid and parents having to take out loans for private university.

OP - A dad of a HS student recently posted in a neighborhood FB group asking if $60k for out of state is “the real cost or just a ceiling of what can be charged” and seemed sincerely surprised to learn about Naviance, estimating cost of attendance, or that many people’s recent and current college students got better aid packages out of state. This is an educated professional couple in N Arlington. I know not everyone tries to get every possible advantage with test prep, essay writing help, extracurriculars and volunteering positions curated for the application- but it seems kids whose parents wake up their sophomore year and say “I suppose we should visit some colleges” are disadvantaged.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I have t read all of the responses but I agree that I’m surprised about people who continue to have kids yet don’t save for college.

I'm surprised at how people willingly pay for private and out of state tuition when better or equal programs exist for the cost of in-state tuition. Especially if they're not going into fields where undergraduate degree "status" matters as much.

If money is no object, then go ahead and pay the 70K+ for a school that is a "good fit." If spreading the cost of tuition out among multiple kids and money is a concern, though, then right. And if you kid is in a pre-professional program that must be continued elsewhere, then why spend so much in undergrad? (Again, if cost is a concern.)

[Anonymous]

Count me as one of those parents who paid full freight for private OOS tuition for my kid. It was important to me as I was limited to instate public schools AND I had to take on debt. It royally sucked and I hated the whole college experience. I swore if I had a kid, I would make it easier for them. My kid knows all this and is appreciative of it all.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sigh. Stop trolling.

I’m not trolling. I’m genuinely surprised how shortsighted people are with relatively high incomes. If you had a lower income, you would qualify for financial aid.

I’m specifically thinking of people who dress well, drive nice cars, vacation often, kids do expensive extracurricular activities, maybe go to private school. They have UMC lifestyles and didn’t save for college.

Yes, you are trolling. And the reason why you are trolling is you have no idea what other people’s finances really are. And you have no idea what goes into their thinking, planning and reasoning when it comes to THEIR kids’ college education. Your son doesn’t either. You both know nothing. Worry about yourself and stop worrying about everybody else. They will be fine without your judgment.

+100. 😈