To you, what schools are truly worth 90k/year
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Anonymous
And someone who doesn't have that money saved and cannot easily "cash flow" it most likely should not be spending it on college for 4 years. And yes, IMO, if it takes 65% of your take-home to fund college, that college is too expensive for most people. Especially when there are literally 95% of the rest of colleges that can be affordable and many excellent choices. |
Anonymous
Why mention all these colleges??? |
Anonymous
+1 |
Anonymous
WTH??! If you need to spend 65% of your take-home pay to fund college, then that college is most likely too expensive for your family budget. Whether college is $90K or 50K or 30K. Simple math. Not sure you can find a financial advisor who would disagree with that. |
Anonymous
+1 Many people get upset that they did not plan. Yes, costs are ridiculously high. But 15-20 years ago, it was very obvious we were heading this way. Our FA had us plan for $30K for in-state, $50K for mid cost college and $85K for upper end. That was fairly spot on. We knew we would be full pay (a privilege certainly) so we chose to save accordingly. We prioritized saving for college, it came out of budget before we planned any other extras. |
Anonymous
DP: point is people value different things. Some of us value education and planned and saved for it. Others choose to save/spend on other things and then like to complain "it's not fair we cannot afford $90K". But if you are making $200K+, you most likely could have "found a way to afford it if it's most important to you". Now, is that the best choice for your finances, not always if only making $200K. Just like spending $80K+ on a vehicles at that income likely is not the best choice. But some people do chose that. |
Anonymous
The reasons those 20 richest are so successful is likely due to their wealthy upbringing---they would succeed no matter where they went. And it's easier to be an entrepreneur when you know you have a safety net (rich family) supporting you. You are often brought up to take more risks, so it's a part of life from young age. So it's not really correlation to the school they got into, but to their entire upbringing. |
Anonymous
+1 studies have been done showing ivy+ and/or T10 schools overrepresented at top levels of many careers. My law partners are 1/5 from T10s, 3/5 from T30/T5LACs, 1/5 from T30-75/lesser LAC, for undergrad. Law all but 2 are T14. DH's medical partners/owners of the specialist group are 2/3 T10/ivy or Williams, 1/3 are Uva, WM. The med schools they went to are 1/2 Top50 research med schools. We are sending all 3 of ours to ivy, T10 or T5LAC: if they were not that level of student or had gotten shut out we would do the next closest thing, T25 private or William and Mary in state which functions like a private mid-size and has T25 quality students. |
Anonymous
They are overrepresented but there is still wide variation in success. There was a study in Nature last year that looked at 34 of the top schools and found how heavily overrepresented they were across over 26,000 high achievers in 30 different domains. But, there were two big caveats. One, people from the 34 were more likely to have attended for grad school than undergrad, and two, in the professional fields (versus the academic ones) they were overrepresented but usually a minority of the total. In other words, a majority of the high achievers in the professional fields didn’t attend one of the 34 schools, despite them still being overrepresented. |
Anonymous
| We saved. I was thinking $60k would be top price for private. I didn’t foresee my kid getting into Ivies. We can swing it- bit likely would have socked away more. We also almost did the Virginia pre-pay thing |
Anonymous
What about median earnings? You do you, but outcome is one of the most important factors for the most people and it's not just an added benefit. |
Anonymous
Many were UMC, but nowhere near wealthy. Certainly being UMC helps, but neither Mark Zuckerberg’s dentist dad or Jeff Bezos’ network engineer stepdad (his mom had him in HS) had really much of an impact on their starting their companies or their ultimate success. Bezos’ parents invested in a friends and family round as part of a much larger funding tranche. The Waltons of course are a different matter because they are on the list entirely from inheriting Walmart stock. It’s hard to know if Facebook would exist if Zuckerberg had attended SUNY Binghamton instead of Harvard. |
Anonymous
Yeah, what’s with all the anger? Do you get angry if your neighbor goes to Paris for a vacation while you go to Myrtle Beach? |
Anonymous
Why? |
Anonymous
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so, late to this thread but.. my DC is a sophomore at Vandy, and we struggled with the “is it worth it” question 2 years ago when we were considering options. Full pay. Kid just received offer for JUNIOR year internship, which should fairly certain path to 6
figure job upon graduation. I now believe Vandy was worth every cent |