Do many people pick publics because of money?

[Anonymous]

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

So, money is not a factor for you, but it is for most people.

+1 so much virtual signaling, about a college major no less.

[Anonymous]

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

So, money is not a factor for you, but it is for most people.

+1 so much virtual signaling, about a college major no less.

Virtue not virtual.

[Anonymous]

I turned down an Ivy for a state school even though the Ivy offered more $. The vibe on the campus was unpleasant with lots of shouting protestors even back then (I encountered them during the admitted students day) and the area was high-crime, whereas at the state school people were generally calmer and well-adjusted, it was in a safe area, and it was closer to home. Happy with my choice.

[Anonymous]

You realize that both UVA and WM are both so good that people from out of state want to attend them also, right? It’s not like it’s a huge compromise for top students to go there. The lower in-state tuition might be a necessity for some families, a bonus for some, and completely inconsequential for others.

[Anonymous]

Anonymous wrote:You realize that both UVA and WM are both so good that people from out of state want to attend them also, right? It’s not like it’s a huge compromise for top students to go there. The lower in-state tuition might be a necessity for some families, a bonus for some, and completely inconsequential for others.

Also OP, you seem to assume publics are inferior. That’s not really the case with colleges. Part of the reason my child chose a VA public was that we toured private schools and they weren’t necessarily offering something the public didn’t have. You’d think for 93k vs about 45k the facilities would be better etc but it’s not really the case. That’s not to knock private schools - we actually were willing to pay and thought a SLAC might be a good fit for this kid since nice he ultimately didn’t want something that small he went with the in-state public.

Also, although I’m a fan of the SLACs myself, the fact is that the big schools seem to be having a moment these days. So if that’s what a kid wants, most of those are public schools.

Also, maybe you haven’t been through this process yet, but, sure, many people might pay for an Ivy, but those have become extremely hard to get into, along with other T20 schools. A lot of kids are being strategic about the process in terms of applying ED and applying ED to a reasonable target.

[Anonymous]

Do many people pick publics because of money?

I don't know if "many people" pick publics because of money, but the public flagships on my kid's list are from $10k up to $40k/year more than the privates on his list. And, at this point, he prefers public. They seem a better fit for him.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

You don't understand the gift that is graduating from college debt-free?? Ok...

I don’t understand the gift because I graduated with debt and paid it off promptly.

That’s because you’re old and it was easier for you to pay off the debt.

[Anonymous]

Anonymous wrote:

Do many people pick publics because of money?

I don't know if "many people" pick publics because of money, but the public flagships on my kid's list are from $10k up to $40k/year more than the privates on his list. And, at this point, he prefers public. They seem a better fit for him.

dountful. Most privates are now $80k-$95k a year

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Do many people pick publics because of money?

I don't know if "many people" pick publics because of money, but the public flagships on my kid's list are from $10k up to $40k/year more than the privates on his list. And, at this point, he prefers public. They seem a better fit for him.

dountful. Most privates are now $80k-$95k a year

Nope. Because we are a (true) middle class family, the 80k - 90k/year privates are less expensive for us than state flagships which offer us little to no discount, including our IS flagship.

[Anonymous]

Anonymous wrote:Well I’ll have the last laugh. I pay a fraction of what people pay out of state for my kid to go to uva. Will try and do it with my second kid too. GL!

UVA is meh for undergrad.

[Anonymous]

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Anonymous wrote:Well I’ll have the last laugh. I pay a fraction of what people pay out of state for my kid to go to uva. Will try and do it with my second kid too. GL!

UVA is meh for undergrad.

Nice try.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well I’ll have the last laugh. I pay a fraction of what people pay out of state for my kid to go to uva. Will try and do it with my second kid too. GL!

UVA is meh for undergrad.

+1

It is much better for law school.

[Anonymous]

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Anonymous wrote:It’s almost always about money.

Unless you are in the DC part of DCUM. We don't have a state school, so there is barely a cost difference between OOS public and private and the privates give more merit aid.

We live in a good public school system. We are considering private schools for our children. I was comparing college admissions and our well regarded public school has so many students heading to UVA, W&M and VT. [b]It made me wonder what schools those students got accepted to and could have attended that they gave up to attend the state public schools[/b].

Maybe you don't know where they got accepted. It is much harder to get into the top tier schools than it was in the 90's. And, depending on major and career goals, the good publics can have the same outcome as the privates.

If their families are like ours, the students didn't apply to elite schools because the parents set a budget, and it excluded such schools.

It's about the student, not about the school.

Op here. I know very few seniors since my kids are younger. I did meet a few who did ED with what sounded like perfect stats to UVA and never even applied to other schools. Other kids got into better schools and chose UVA. Then there are the other hundred(s) who I don’t know personally who will be attending VA and MD state schools.

UVA is not for everyone. I know several high stats students who chose other schools (T20), I do not hold that against them.

dp. if they took out loans for it, that was a dumb move from an ROI perspective. If they can afford it, then it's a moot point.

Most people are not wealthy, and making emotional decisions on a big purchase (which college is) is not a good move.

Outcomes from similar majors might tell you otherwise. UVA outcomes are good, but not Top 20 private good.

[Anonymous]

Anonymous wrote:You realize that both UVA and WM are both so good that people from out of state want to attend them also, right? It’s not like it’s a huge compromise for top students to go there. The lower in-state tuition might be a necessity for some families, a bonus for some, and completely inconsequential for others.

Good—but not T20 private good. Look at outcomes data for same majors and you’ll see.

[Anonymous]

Anonymous wrote:You realize that both UVA and WM are both so good that people from out of state want to attend them also, right? It’s not like it’s a huge compromise for top students to go there. The lower in-state tuition might be a necessity for some families, a bonus for some, and completely inconsequential for others.

This. I would pick a public, in-state university for my kid any day over private. VA has a handful of excellent schools at reasonable rates. I went to a flagship state school and do well as an attorney. I did have law school loans and have since learned what a burden that can be at the beginning of one's career. I'd like to avoid that for my kids. Being debt-free allows you to take more risks or pursue opportunities which would otherwise not be available to those who shoulder hefty monthly student loan payments. I see no reason to pursue that option.

Plus, paying nearly $100K for a year of undergrad is just insanity. For someone in finance, I'm surprised that you consider that a good deal.