Job market and college costs

[Anonymous]

Anonymous wrote:This thread is fiesty! People must be all stressed about college apps, economy, etc. It shows!

No good answer here. College is not the ROI it once was, that's for sure. Jobs and other things so uncertain. Job security is gone. You don't need college to learn things anymore - can learn so much now online for free. Not saying it's the same, just saying the ROI isn't there.

But having said that, yes, my kid is applying and will go and I'll pay for wherever they get in and want to go. If I think of it as at least in part a resort vacation, then the ROI doesn't sound so bad.

The economy is faltering, wealth will be even more consolidated into the hands of the oligarchy. The vast majority of people who voted for this will be the ones to lose the most.

And this is the type of out of touch, liberal limousine thinking that got us here in the first place. Statements like the first one in bold is why certain groups voted for Trump. How do you breathe on that high horse?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is fiesty! People must be all stressed about college apps, economy, etc. It shows!

No good answer here. College is not the ROI it once was, that's for sure. Jobs and other things so uncertain. Job security is gone. You don't need college to learn things anymore - can learn so much now online for free. Not saying it's the same, just saying the ROI isn't there.

But having said that, yes, my kid is applying and will go and I'll pay for wherever they get in and want to go. If I think of it as at least in part a resort vacation, then the ROI doesn't sound so bad.

The economy is faltering, wealth will be even more consolidated into the hands of the oligarchy. The vast majority of people who voted for this will be the ones to lose the most.

And this is the type of out of touch, liberal limousine thinking that got us here in the first place. Statements like the first one in bold is why certain groups voted for Trump. How do you breathe on that high horse?

The job market rots for the Trumper's kids and the lib's kids alike.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Very few people spend $200,000 on college. Only the rich and the faux rich do.

Not true. Michigan out of state is over 80k per year.. most SLAC’s arts colleges cost that much too. Out of state public’s will easily cost around 200k.

And only rich or faux rich would be willing to pay that 80k OOS at Mich.

We are not rich, but DC got great aid at a SLAC and we will not be paying 200k. It would be foolish of us to spend that much.

Not if you have it saved, still fully saving for retirement for yourself, and your kid wants to attend UMich. Yes, if you don't readily have the money, it's silly. otherwise that is why we saved for $350-400K for our kids, so they can choose

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those expensive schools need to prove their worth. Many middle- and upper-middle-class families don’t qualify for financial aid — yet they also happen to have the most competitive kids applying to selective schools. It makes no sense for them to keep funding institutions that give them nothing in return.

Top schools give need based aid of some amount all the way up to 300k household income and occasionally higher. That is well beyond upper middle class it’s top 2%! If you cannot afford full pay for one kid above that then you have serious saving and budgeting issues. There is NO middle class donut hole, only an upper class one, a first world problem no one should complain about.

They really don’t provide much if any aid to donut hole families. And if you live in a high COL area, a salary of 250k or so doesn’t go far. You also assume the parent was earning 250k+ for years and could save. The fact is that 90k a year for schools is RIDICULOUS and the schools need to fix this.

DP: So if they were not earning 250K for 18+ years (which is most likely true), then as they went from $125K to 250K, they could have chosen to direct a good portion of that to retirement AND college savings. $20K/year saved for 10+ years and invested in stock funds would allow your kid to attend almost any school.

To be fair, that wouldn’t be possible if you also have a large mortgage and/or are paying off student loans yourself and/or have medical debt or any number of big expenses. $250 k isn’t a particularly large salary in the dmv and hasn’t been for a long time.

If they were "living on 125K", they can defintatley continue to do so and use the rest for college savings and or paying of student loans. They don't have to increase their mortgage (and shouldn't have a "big one" if they were only making 125K). Point is they likely increased their lifestyle (not wrong, just a choice) and could have chosen differently if they valued education enough

[Anonymous]

Anonymous wrote:I find it hilarious all this complaining about cost and also at the same time all the claims that the selective schools are the only ways to get connections for a job that pays enough.

I went to a non-ivy but good school. Got all my jobs via my own merit and not connections. Love my job. And make enough to pay for both my kids to attend whatever school they want plus grad schools full pay, no worries, and have enough for long term care and retirement.

No, ivy or even ivy+ not necessary to make a good living and have enough to pay for your kid to go to ivy if they want, full pay.
Just sayin'

+1

Spouse and I both went to T10/20 schools. Graduated 30+, also attended a T20 Grad school (our jobs sent us there specifically and paid, we had no choice). We were on massive financial aid (poor families)
But you know what, neither ever used our "connections" from college to get a job. Beyond interviewing at college for the first job. We used the connections WE BUILT and our experience to get ahead. Just like 99% of people do. It's what you do, not where you went.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I find it hilarious all this complaining about cost and also at the same time all the claims that the selective schools are the only ways to get connections for a job that pays enough.

I went to a non-ivy but good school. Got all my jobs via my own merit and not connections. Love my job. And make enough to pay for both my kids to attend whatever school they want plus grad schools full pay, no worries, and have enough for long term care and retirement.

No, ivy or even ivy+ not necessary to make a good living and have enough to pay for your kid to go to ivy if they want, full pay.
Just sayin'

+1

Spouse and I both went to T10/20 schools. Graduated 30+, also attended a T20 Grad school (our jobs sent us there specifically and paid, we had no choice). We were on massive financial aid (poor families)
But you know what, neither ever used our "connections" from college to get a job. Beyond interviewing at college for the first job. We used the connections WE BUILT and our experience to get ahead. Just like 99% of people do. It's what you do, not where you went.

If you went to a top 20 and you got your job by interviewing at your college, by definition you have “connections” because your school is on the targeted list that companies send their resources to, this does not happen for every school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Those expensive schools need to prove their worth. Many middle- and upper-middle-class families don’t qualify for financial aid — yet they also happen to have the most competitive kids applying to selective schools. It makes no sense for them to keep funding institutions that give them nothing in return.

Top schools give need based aid of some amount all the way up to 300k household income and occasionally higher. That is well beyond upper middle class it’s top 2%! If you cannot afford full pay for one kid above that then you have serious saving and budgeting issues. There is NO middle class donut hole, only an upper class one, a first world problem no one should complain about.

They really don’t provide much if any aid to donut hole families. And if you live in a high COL area, a salary of 250k or so doesn’t go far. You also assume the parent was earning 250k+ for years and could save. The fact is that 90k a year for schools is RIDICULOUS and the schools need to fix this.

DP: So if they were not earning 250K for 18+ years (which is most likely true), then as they went from $125K to 250K, they could have chosen to direct a good portion of that to retirement AND college savings. $20K/year saved for 10+ years and invested in stock funds would allow your kid to attend almost any school.

To be fair, that wouldn’t be possible if you also have a large mortgage and/or are paying off student loans yourself and/or have medical debt or any number of big expenses. $250 k isn’t a particularly large salary in the dmv and hasn’t been for a long time.

If they were "living on 125K", they can defintatley continue to do so and use the rest for college savings and or paying of student loans. They don't have to increase their mortgage (and shouldn't have a "big one" if they were only making 125K). Point is they likely increased their lifestyle (not wrong, just a choice) and could have chosen differently if they valued education enough

I guess it's possible to save $300k with that strategy but is it possible to save $600k for two kids?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I find it hilarious all this complaining about cost and also at the same time all the claims that the selective schools are the only ways to get connections for a job that pays enough.

I went to a non-ivy but good school. Got all my jobs via my own merit and not connections. Love my job. And make enough to pay for both my kids to attend whatever school they want plus grad schools full pay, no worries, and have enough for long term care and retirement.

No, ivy or even ivy+ not necessary to make a good living and have enough to pay for your kid to go to ivy if they want, full pay.
Just sayin'

+1

Spouse and I both went to T10/20 schools. Graduated 30+, also attended a T20 Grad school (our jobs sent us there specifically and paid, we had no choice). We were on massive financial aid (poor families)
But you know what, neither ever used our "connections" from college to get a job. Beyond interviewing at college for the first job. We used the connections WE BUILT and our experience to get ahead. Just like 99% of people do. It's what you do, not where you went.

If you went to a top 20 and you got your job by interviewing at your college, by definition you have “connections” because your school is on the targeted list that companies send their resources to, this does not happen for every school.

Even though jobs were difficult to come by the year I graduated, I got my job and was with kids who went to mostly T50-100 schools, not T20. I had plenty of cohorts who didn't attend T20. My company hired from many schools strong in tech/engineering.