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

[Anonymous]

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

Amazing idea. Or you could put 60k in and give them 20k to travel the world. There's the real education.

[Anonymous]

We're wealthy but not profligate.

It's important that our kids go to their "best fit" college, so if we, and they, feel that there is a legitimate reason for attending the most expensive college, then OK. But for more than 80K (because tuition increases every year!), it would need to be a joint decision.

DC1's top two choices were both 65K/yr, so we haven't yet had that experience. We'll see what happens with DC2.

[Anonymous]

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

Maybe but it’s pretty hard to do

[Anonymous]

If almost all else is equal, why would you pay $80k more? That just seems like a no brainer to me

Is there something at the more expensive option that just can’t be done at the less expensive one? Could you supplement something?

I was considering hiring out supports for our adhd child at the cheaper school, because it still would be cheaper than the school known for that.

I really think you need to sit down and figure out pros/cons of the schools and decide if the $ difference is worth that to your child and your family.

[Anonymous]

I’m struggling to think of two schools that are truly “equal” where one would be 85k and the other would be 65k with merit.

[Anonymous]

If one of the schools isn’t in T20/30, it doesn’t matter OP.

[Anonymous]

Anonymous wrote:I’m struggling to think of two schools that are truly “equal” where one would be 85k and the other would be 65k with merit. [/quote

Wisconsin 61k
UGA about 38k w merit

[Anonymous]

Anonymous wrote:To me it is, but DCUM would consider me poor.

Same. I could go a lot with a $80k.

[Anonymous]

If you're rich.

If not, 80k is a nice down payment on a starter property that gets you on the housing ladder at a young age and starting building equity rather than rent. Or put into long term retirement funds and let it rip.

Opportunity costs are real just for a four year degree. Fit is meaningless at most schools as they are more similar than not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:To me it is, but DCUM would consider me poor.

Same. I could go a lot with a $80k.

Right? There was a private school my child wanted that would be about $60k more over 4 years. She was saying she was going to take out loans to cover the difference. That’s a nope from us.

[Anonymous]

UGA has better weather than Wisconsin, and higher ranked. UGA for the win.

[Anonymous]

Anonymous wrote:UGA has better weather than Wisconsin, and higher ranked. UGA for the win.

Oh really? Where is it higher ranked? Not that big of a deal, just wasn't aware

[Anonymous]

Anonymous wrote:

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

Maybe but it’s pretty hard to do

Hard and actually not possible.
Roth IRA contribution this year is limited to $7000– and there has to be at least $7000 of earned income by the Roth IRA holder.

So if your kid is earning seven grand in 2024-then you can make that contribution into an account and their name.

You cannot just put 80k into an account!

[Anonymous]

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

+1

This is true.

[Anonymous]

We did for 40k. It does give me heartburn but the schools were not equal. Small pretty good SLAC vs. top SLAC. It was doable financially.