I’ve observed that truly affluent families are blasé about where their kids go to college

[Anonymous]

I can see MC/UMC wanting name recognition and connections for their DC up until recently. I mean some are still chasing it bc they know that the income gap is widening at a staggering rate. But I think that collapse (political, climate change, economic) might impact future college choices. I’m hearing more MC/UMC people questioning college altogether and talking about trade schools. Or looking at cost/benefit of more expensive schools. When the poopoo hits the fan, it won’t really matter if you went to Princeton. The people who will come out unscathed (if there are any) will be the super wealthy who according to this thread don’t care about college status anyway.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This post is actually really triggering me. I grew up in these circles in Texas and went to the right school, camp, college and sorority and never felt like I really fit in with any of it - especially because the guys seemed so spoiled and vapid - and as an adult I have purposefully avoided that scene with my own kids. Now I kind of regret doing that because I see the ease in which these kids can float through life on their connections if they so choose. Not that my kids have any real hardships at all - we have plenty of money and very supportive and close families - but there is something comforting about that social bubble. I wanted to raise my kids outside of it for a reason but now that they are entering college I can see how it would be useful.

I was brought up Texas as well. I attended a public school in Dallas that was well regarded. Many of my friends parents were multii-milonaires and some had billions (think Jerry Jones and Ross Perot).

Your post actually "triggered" me as well. Yes, many kids had money and connections. But they actually worked hard to get through school. They recieved their degrees and were well deserved.

Some of the previous posts make me laugh. I have lived in DC for more than 30 years. I know many people on the East Coast that made piles of money. That being said, there are many people in the South/South West that have obnoxious wealth, the kind that would make the EC people blush.

The price of Crude Oil is around 80-90 dollars today. Our family just pumped 10,000 yesterday from our land, roughly $887,000 in one day.

I know, hate on me.

I didn't say they don't work hard at HP. I said they have connections. And WTI is hovering in the 70s right now. I wonder if we share mineral rights.

[Anonymous]

I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

[Anonymous]

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

[Anonymous]

new to post to this thread, but IDK about the NYC types. I think that's me and I think we're the types who may be turning on prestige.

the super rich can buy their way in, it's a luxury product and why not.

then there are people like me who are rich enough, but self made. At 50, we have a net worth of 4mm and have just reached peak earning years. We could double that in the next 15 years.

but some of that is tied up in housing, retirement, etc. it's not all liquid. our kids go to test-in publics so our nut is not enormous but we travel, kids have activities, etc.

and we wonder .. 3 kids at 400-500k each for college? does that make sense? my DH and I got rich slowly - working, investing, we each had bought an apartment in NYC before we got together. I don't see a way my kids could buy an apartment on their own in their 20s they way DH and I did.

And what if they want to be a teacher? or a journalist? or own a shop? That hardly seems possible in their home town of nyc without a lot of help.

So .. why spend this all in 4 years. We value education, but why not go for that merit aid at Grinnell or the like?

Also, we just don't have the ego to care.

[Anonymous]

I grew up in an Ivy League college town. Did not go to one and now make more than all my classmates who went to Ivies - unless they went into finance. It really does not matter where your kid goes. As long as they GO to college, have their health and work ethic, they’ll figure it out. If they want $ and don’t have a trust fund, have them go into finance.

[Anonymous]

Why you care about other peoples; decisions rich or not???
Weird.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

Read up on wealthy wildcatters…there are many of them and many have ecelectic backgrounds. You have to be 1/2 crazy and just love risk.

Not talking about the senior management of Exxon here.

[Anonymous]

Anonymous wrote:I grew up in an Ivy League college town. Did not go to one and now make more than all my classmates who went to Ivies - unless they went into finance. It really does not matter where your kid goes. As long as they GO to college, have their health and work ethic, they’ll figure it out. If they want $ and don’t have a trust fund, have them go into finance.

So, just to be clear…there are many wealthier than you that decided to go into finance…you realize you are kind of making the Ivy League pitch for finance.

[Anonymous]

Yes. I am not in finance. But if I’d wanted to be, would have shot for Ivy League. If had not made it in undergrad, would have gone for grad school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

[Anonymous]

Anonymous wrote:I can see MC/UMC wanting name recognition and connections for their DC up until recently. I mean some are still chasing it bc they know that the income gap is widening at a staggering rate. But I think that collapse (political, climate change, economic) might impact future college choices. I’m hearing more MC/UMC people questioning college altogether and talking about trade schools. Or looking at cost/benefit of more expensive schools. When the poopoo hits the fan, it won’t really matter if you went to Princeton. The people who will come out unscathed (if there are any) will be the super wealthy who according to this thread don’t care about college status anyway.

My thoughts exactly.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Gas & Oil tends to be highly educated due to the international nature and regulatory environment.

+10000. Only someone from DC would equate oil and gas with McDonald’s franchisees.

No, only someone from DCUM would think being the Head Counsel or CEO of Exxon is how people make the real money in oil and gas.

Read up on the wildcat billionaire and company founders before you post inane comments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think there are different kids of rich. The law/hedge fund/finance types in NYC & burbs very much care about where their kids go to school. What do you think the Varsity Blues case was about? I have a finance bronrelative who came very close to trying to bribe his kid into a top college but thankfully came to his senses when he realized his kid would struggle academically there anyway. So they picked an easier state school. And are now bragging up a storm about kid #2 who got into a fancier school on their own merits.

I can imagine that the wealthy who come from non-academic/non-intellectual industries care a lot less.

Yeah, I think it is the difference between White Collar rich and Blue Collar rich. For the most part, someone getting super-rich by starting a tech company, starting a hedge fund, working in P/E, etc. care much more about status colleges (and likely came from one). Someone that got rich in the oil fields, or becoming the largest McDonald's franchisee in the Southeast probably has a different attitude.

For the tech company dropout billionaires...college is a bit of a weird decision. To them, the ultimate mark of success is to get accepted to Stanford, but then either not attend at all or drop-out after 1 year.

Lmao. How DCUM / east coast urban area.

Throw in the “southeast” with McDonald’s.

You think someone got rich working “in” the oil fields.