Middle class families - Are you willing to take on a ton of debt for a top college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your kid doesn't 'speak the language' I don't see the point. They'll just end up funneling to where ever their high school friends end up, probably marrying someone from their hometown.

I didn't speak the language, but I became smoother and better able to fit in while I was there. That wouldn't have happened at, say, UVA.

I disagree, UVA grads are some of the most affected people I've ever met.

So when were you rejected? Seriously, I have two kids there. This statement is absurd. UVA kids come from all 50 states and 84 countries. There's no rich-speak. Go read "Stover at Yale" if you want to understand rich-speak.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ok fine but you realize the person making over 600k still pays more right?

No one has disputed that claim -- largely because it has no relevance to the discussion here (maybe also because it is ambiguously framed and stated so categorically that taking it on would lead to a lot of meaningless wrangling).

There was at least one PP, maybe two, who were disputing this.

No, that claim was a straw man -- attributed to other posters by the 600K poster.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your kid doesn't 'speak the language' I don't see the point. They'll just end up funneling to where ever their high school friends end up, probably marrying someone from their hometown.

I didn't speak the language, but I became smoother and better able to fit in while I was there. That wouldn't have happened at, say, UVA.

I disagree, UVA grads are some of the most affected people I've ever met.

So when were you rejected? Seriously, I have two kids there. This statement is absurd. UVA kids come from all 50 states and 84 countries. There's no rich-speak. Go read "Stover at Yale" if you want to understand rich-speak.

NP here, c''mon they wear ties and dresses to football games. If it's your goal you can learn to be a prepster at UVA and save the extra tuition money.

[Anonymous]

For a daughter, yes in hopes she finds a rich husband.

[Anonymous]

Such an interesting thread. For those of us in the doughnut hole (over $180K HHI so no need based aid) but not rich enough to spend $280K for four years especially if there is a risk of student not graduating in four years in which case you could end up spending $350K it is not an easy decision.
We expect to have $180K saved when ds goes to college and can fund another $15K a year bringing what we can comfortably fund to $240K. So, within striking distance. Even if we can afford it though,what is making this a difficult decision is that ds wants to go to med school. He is a very good student (NMSF caliber) and I expect he could get into one of the top 20 colleges/universities but as we know these don't offer merit aid.
Scenario 1: send him to UMD (honors college) which means we barely touch the college savings acct. and we will have enough to pay for 2-3 years of med school.
Scenario 2: Send him to UMD(honors college) and he decides against med school and wants to get a Ph.D but the top Ph.D programs mostly accept students from top 20 universities/SLACs
Scenario 3: Send him to a second tier SLAC which does offer merit aid. He has a good four years but might find getting into either a medical school or a top Ph.D program difficult because of the pedigree of the undergrad. school, the research/internship opportunities available to him.
Scenario 4: Send him to the best school he can get into which positions him well for a Ph.D program or medical school admission and hope the money magically appears.

If I knew for sure that he would still want to become a doctor when he graduates, I would just encourage him to attend UMD honors and save his money for med school. I guess I wish I could find a group of undergraduate schools that we can afford that would position him well for either career option: medicine or Ph.D

[Anonymous]

Anonymous wrote:Such an interesting thread. For those of us in the doughnut hole (over $180K HHI so no need based aid) but not rich enough to spend $280K for four years especially if there is a risk of student not graduating in four years in which case you could end up spending $350K it is not an easy decision.
We expect to have $180K saved when ds goes to college and can fund another $15K a year bringing what we can comfortably fund to $240K. So, within striking distance. Even if we can afford it though,what is making this a difficult decision is that ds wants to go to med school. He is a very good student (NMSF caliber) and I expect he could get into one of the top 20 colleges/universities but as we know these don't offer merit aid.
Scenario 1: send him to UMD (honors college) which means we barely touch the college savings acct. and we will have enough to pay for 2-3 years of med school.
Scenario 2: Send him to UMD(honors college) and he decides against med school and wants to get a Ph.D but the top Ph.D programs mostly accept students from top 20 universities/SLACs
Scenario 3: Send him to a second tier SLAC which does offer merit aid. He has a good four years but might find getting into either a medical school or a top Ph.D program difficult because of the pedigree of the undergrad. school, the research/internship opportunities available to him.
Scenario 4: Send him to the best school he can get into which positions him well for a Ph.D program or medical school admission and hope the money magically appears.

If I knew for sure that he would still want to become a doctor when he graduates, I would just encourage him to attend UMD honors and save his money for med school. I guess I wish I could find a group of undergraduate schools that we can afford that would position him well for either career option: medicine or Ph.D

For medicine, a top 50 school is completely adequate. He just needs to have top grades and top MCAT scores.

[Anonymous]

Anonymous wrote:Such an interesting thread. For those of us in the doughnut hole (over $180K HHI so no need based aid) but not rich enough to spend $280K for four years especially if there is a risk of student not graduating in four years in which case you could end up spending $350K it is not an easy decision.
We expect to have $180K saved when ds goes to college and can fund another $15K a year bringing what we can comfortably fund to $240K. So, within striking distance. Even if we can afford it though,what is making this a difficult decision is that ds wants to go to med school. He is a very good student (NMSF caliber) and I expect he could get into one of the top 20 colleges/universities but as we know these don't offer merit aid.
Scenario 1: send him to UMD (honors college) which means we barely touch the college savings acct. and we will have enough to pay for 2-3 years of med school.
Scenario 2: Send him to UMD(honors college) and he decides against med school and wants to get a Ph.D but the top Ph.D programs mostly accept students from top 20 universities/SLACs
Scenario 3: Send him to a second tier SLAC which does offer merit aid. He has a good four years but might find getting into either a medical school or a top Ph.D program difficult because of the pedigree of the undergrad. school, the research/internship opportunities available to him.
Scenario 4: Send him to the best school he can get into which positions him well for a Ph.D program or medical school admission and hope the money magically appears.

If I knew for sure that he would still want to become a doctor when he graduates, I would just encourage him to attend UMD honors and save his money for med school. I guess I wish I could find a group of undergraduate schools that we can afford that would position him well for either career option: medicine or Ph.D

[Anonymous]

When my DD applied college two years ago, she clearly know our family's financial situation. She eventually picked uva over Duke and Georgetown. I was in tears when she happily told me that she would rather go to uva ( in state) for undergraduate and save money for a better graduate school. I wish I can let her chose whatever school she likes, but no, we can't afford it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Such an interesting thread. For those of us in the doughnut hole (over $180K HHI so no need based aid) but not rich enough to spend $280K for four years especially if there is a risk of student not graduating in four years in which case you could end up spending $350K it is not an easy decision.
We expect to have $180K saved when ds goes to college and can fund another $15K a year bringing what we can comfortably fund to $240K. So, within striking distance. Even if we can afford it though,what is making this a difficult decision is that ds wants to go to med school. He is a very good student (NMSF caliber) and I expect he could get into one of the top 20 colleges/universities but as we know these don't offer merit aid.
Scenario 1: send him to UMD (honors college) which means we barely touch the college savings acct. and we will have enough to pay for 2-3 years of med school.
Scenario 2: Send him to UMD(honors college) and he decides against med school and wants to get a Ph.D but the top Ph.D programs mostly accept students from top 20 universities/SLACs
Scenario 3: Send him to a second tier SLAC which does offer merit aid. He has a good four years but might find getting into either a medical school or a top Ph.D program difficult because of the pedigree of the undergrad. school, the research/internship opportunities available to him.
Scenario 4: Send him to the best school he can get into which positions him well for a Ph.D program or medical school admission and hope the money magically appears.

If I knew for sure that he would still want to become a doctor when he graduates, I would just encourage him to attend UMD honors and save his money for med school. I guess I wish I could find a group of undergraduate schools that we can afford that would position him well for either career option: medicine or Ph.D

Maybe six year Med school ? https://students-residents.aamc.org/applying-medical-school/article/medical-schools-offering-combined-undergraduatemd-/

[Anonymous]

Nope.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If your kid doesn't 'speak the language' I don't see the point. They'll just end up funneling to where ever their high school friends end up, probably marrying someone from their hometown.

I didn't speak the language, but I became smoother and better able to fit in while I was there. That wouldn't have happened at, say, UVA.

I disagree, UVA grads are some of the most affected people I've ever met.

So when were you rejected? Seriously, I have two kids there. This statement is absurd. UVA kids come from all 50 states and 84 countries. There's no rich-speak. Go read "Stover at Yale" if you want to understand rich-speak.

NP here, c''mon they wear ties and dresses to football games. If it's your goal you can learn to be a prepster at UVA and save the extra tuition money.

You don't even know what you are talking about. it's "guys in ties; girls in pearls" and it was an old, fun tradition started to mess with Va Tech when the two enemies met up on the field. It's not done anymore. My DS wore a tie to one game for the fun of it and that was it. Never again. They dress for the weather. From UVA: "There is an ongoing debate about appropriate dress for football games, generally referred to as “guys in ties/girls in pearls” versus the “sea of orange.” UVA had a longstanding tradition of dressing up for football games, the guys in ties and girls in sundresses. Recently, however, the Athletic Department led by the initiative of Al Groh has tried to encourage people to dress down and wear orange t-shirts. Each side of the debate has its adamant supporters, but most students simply dress for the weather."

[Anonymous]

I went to UVA for undergrad and law school. It's an awesome school. If my kid gets into Columbia and UVA, I would pay for Columbia, bc Columbia is a better undergrad than UVA. Columbia opens doors that UVA does not. How could you ever say you wouldn't pay for the better school? I could pay cash for her tuition, but even if I couldn't -- if I was the poors -- I would take out loans, beg on the street, I would do ANYTHING to get the $. That so many would be unwilling to do so is a terrific indication of why you are middle class in the first place -- you will not do whatever it takes to get to the top. Sad you condemn your kids to your life of meritocracy.

[Anonymous]

mediocracy

[Anonymous]

Yes, for a top 10 school.

[Anonymous]

Maybe - but most likely not. Can't imagine putting everything I had, or even worse, going into debt for an undergrad degree. Long game is grad school. I really don't want to leave DC's to fend for themselves if they get into top program out of state.