Paying for college $75K

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Yea this happens. Some is my sons friends got offers at HRT, similar comp structure. My sons passion is in cyber security and forensics, definitely not quantitative trading.

FYI it’s not only MIT grads that get these jobs in quant trade.

[Anonymous]

Send to college in Canada or the UK. All the UK schools are only 3 years anyhow, and no wasted time/money on genEd. Much cheaper. So is housing.

[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.

You’ve got me all figured out 🤣🤣

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

He did not apply to HYPSM, Caltech, CMU because he did not think he could get in. I agree that for the other universities where he did get in, they are not worth the $$ and VT was the financially better choice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

You tried to lecture us that we don’t understand capital markets or the economy and that your kid is holding them up. Atlas-style 😅. I mean come on, how clueless can you get

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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?

You tried to lecture us that we don’t understand capital markets or the economy and that your kid is holding them up. Atlas-style 😅. I mean come on, how clueless can you get

I mean I still don't think you understand the capital markets theories. Maybe try to go back to college and take the Financial Markets and Institutions course. If you still don't agree with those well established courses, you may refute them on AER, etc. Maybe you can get a Nobel Prize in Economics in the future. Who knows!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Yea this happens. Some is my sons friends got offers at HRT, similar comp structure. My sons passion is in cyber security and forensics, definitely not quantitative trading.

FYI it’s not only MIT grads that get these jobs in quant trade.

What about other mid-tier CS colleges outside of quant trade? Do they have decent ROI after graduation, that justifies the extra tuition cost?

[Anonymous]

Your child can get a CNA certification ( certified nurse assistant) and make 40k ( that's a little under 30 after taxes) a year working 3 nights a week in one on one private care.

It's basically a sleeping job: you are taking care of an elderly patient that sleeps through the night and may need help using the bathroom once of twice a night. That's it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Yea this happens. Some is my sons friends got offers at HRT, similar comp structure. My sons passion is in cyber security and forensics, definitely not quantitative trading.

FYI it’s not only MIT grads that get these jobs in quant trade.

What about other mid-tier CS colleges outside of quant trade? Do they have decent ROI after graduation, that justifies the extra tuition cost?

Mid tier meaning college rank divided by the number of colleges? Or DCUM mid tier?

[Anonymous]

Forget about the college for now! My question is, how can OP be so dang stupid and make that much money?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Yea this happens. Some is my sons friends got offers at HRT, similar comp structure. My sons passion is in cyber security and forensics, definitely not quantitative trading.

FYI it’s not only MIT grads that get these jobs in quant trade.

What about other mid-tier CS colleges outside of quant trade? Do they have decent ROI after graduation, that justifies the extra tuition cost?

CS is one of those degrees where where you get your undergrad is pretty irrelevant. Out CS hires all have to go in front of our hiring boards and show their skills in real time. You can very quickly see who is talented and who went into CS thinking they are going to strike it rich and become a tech bro.

Our best hire this cycle? An excellent George Mason grad who interned with us last summer .

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Yea this happens. Some is my sons friends got offers at HRT, similar comp structure. My sons passion is in cyber security and forensics, definitely not quantitative trading.

FYI it’s not only MIT grads that get these jobs in quant trade.

What about other mid-tier CS colleges outside of quant trade? Do they have decent ROI after graduation, that justifies the extra tuition cost?

CS is one of those degrees where where you get your undergrad is pretty irrelevant. Out CS hires all have to go in front of our hiring boards and show their skills in real time. You can very quickly see who is talented and who went into CS thinking they are going to strike it rich and become a tech bro.

Our best hire this cycle? An excellent George Mason grad who interned with us last summer .

+1000

Does not matter where you get your CS degree. Smart driven kids with a CS degree will go far from any college. FAANG hires outside of T20 schools, so they might even be working side by side with your T20 grad earning the same thing. Ultimately, what you do in the job matters so much more. Promotions come from actual work product, not where you got your degree.

[Anonymous]

Anonymous wrote:Your child can get a CNA certification ( certified nurse assistant) and make 40k ( that's a little under 30 after taxes) a year working 3 nights a week in one on one private care.

It's basically a sleeping job: you are taking care of an elderly patient that sleeps through the night and may need help using the bathroom once of twice a night. That's it.

Eh, that realllllly depends on the charge. If an elderly person needs a CNA, that can be a heck of a lot of work overnight. Especially if they have dementia or Alzheimer's and sundown.

-RN