Is It Really Gonna Cost $280K? OMG

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Here's a thing I notice about these threads:

Those that are full pay often say something like "it sucks but we saved and it was the right decision for us" (similar to OP).

Those that choose to NOT be fully pay and choose schools accordingly often say "it's not worth it to anyone".

I think both of those statements come from internal conflict and doubt about the decision they have made. However, only one of them attacks the other's decision. Why do you think that is the case?

I posted earlier that the private "prestigious" colleges my kids were accepted to are not worth the money. I stand by that statement. Disprove it, please.

Oh, and BTW, my kid's best friend from no-name state U is now at Harvard for grad school. Guess going in-state didn't hurt that kid.

The Lucky Charms leprechaun is real. Disprove it please. You’re the biggest moron on this board and that is an achievement.

Please tell me Cap’n Crunch isn’t a fake.

[Anonymous]

Anonymous wrote:It depends on what you want to do with a law degree. Of course, almost all practicing lawyers are in the larger scheme of things.

Law is pretty hierarchical even within the overall successful group. If money is how you define success schooling may be less important. Some of the wealthiest lawyers work for themselves, hang a shingle and do personal injury or class action law. One can also be successful practicing commercial law at a law firm. Law firms also have a wide range of reputations and profitability.

But elite lawyers are likely to be graduates of elite schools. It is often argued that undergrad makes no difference but if you look at Supreme Court Justices that argument falls on its face. https://abcnews.go.com/Politics/meet-sitting-supreme-court-justices/story?id=37229761.

This is true of any profession that puts a premium on pedigree..finance, consulting and the business side of tech (though to a lesser degree). The kids from top schools are interviewed for the high paying client facing roles, the rest go to the back offices. Same name on the business card but very different career trajectory and exit options. Of course the neighbor's kid will be the rare exception, key word is rare. I've gotten very real hearing second hand accounts of how well, or not, kids are doing with landing internships and forward to early career moves. Those from the pinnacle of rankings have it a lot easier. So yes, I think that if you have a very ambitious kid, they get the chance and you can afford it, pay for the college reputation whether that be Harvard for a wanna be lawyer or CMU CS for the techie.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Instead of judging people's choices of HOW they will be paying for college...

How about we all ask the question, WHY does college cost $280K????

Because it is and people are still willing to pay!

And because the student loan industry gives schools every incentive to keep jacking up tuition at a rate that far outpaces inflation.





Source: David Stockman

This is a very telling chart. First, let us look at the biggest line item with housing. A new home today costs $270,200. That 1975 home adjusting for inflation would cost $209,417. This is a “real” increase of 29 percent. A new car costs $31,252 while that 1975 car adjusting for inflation would cost $16,578. This is a true doubling of cost here. Public college costs are up over 150% while private college costs are up over 160%. And you wonder why we have over $1.3 trillion in student debt outstanding.

What is more affordable relative to inflation? Milk, eggs, and a postage stamp. Unfortunately these are tiny line items on your household budget.

What you need to look at is the median income here. US households overall are simply poorer. They have less to spend relative to the cost of goods and services. Money is only as good as what it can purchase. You can’t eat hundred dollar bills. This is part of the reason why many people feel like they are poorer. It is also a big reason as to why the homeownership rate continues to fall.

The college tuition scamming needs to stop.

[Anonymous]

Anonymous wrote:Only the rich and the stupid pay full sticker price for a private.

True.