Be honest with your seniors

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

Did you know (through Net Price Calculator or other means) that she had a good chance of receiving a significant merit scholarship BEFORE applying to that school? Otherwise - if $40K was your limit - you could have had a very disappointed kid.

No, it was not expected. We learned with our first that the outcomes could be vastly different than predicted, so apply where you want and make the decision based on where you get in and the value proposition of each.

In my experience the NPC is pretty accurate.

In any case, we told both kids that our ceiling was $X and that they would need to choose from schools that would cost us no more than that figure.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

Did you know (through Net Price Calculator or other means) that she had a good chance of receiving a significant merit scholarship BEFORE applying to that school? Otherwise - if $40K was your limit - you could have had a very disappointed kid.

Yeah, I think they just wanted to brag about the scholarship.

+1. Note also they didn’t provide the name. That’s because it’s not an elite school. Elite schools don’t have to give large merit awards in order to compose the class they want

And? So what?

My kid got $34K at Oberlin which enabled her to choose it over in-state options. It is not elite but it is what she wanted and we can afford it.

What is your point?

[Anonymous]

She’s okay with going to college in Ohio?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

[Anonymous]

Anonymous wrote:Well I told my son I could not pay $80K/ yr that we would run out of $ after 2 years.

He didn’t care and went anyway.

After year1 he got a scholarship.

So it worked out.

If he listened to us he would have not gone to his top school.

But if he hadn't gotten that scholarship, he might have needed to transfer after 2 years vs picking an excellent school to attend all 4 years he could afford. He also might have stayed and come out with $100K+ in student loans, not a bright decision. So while it worked out, it was much more likely to not work out well.

[Anonymous]

Major and expected ROI is more important factor.
Value is what matter, not the number.

If you go to a mediocre school with useless/worthless majors, good chance that it's waste of money.

If you major in CS or some high value STEM, then it'll pay for itself

[Anonymous]

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

And to many, $40k is still a lot.

Others, the full-payers, are funding your kid, unless your kid is the recipient of an endowed-named scholarship.
Be thankful for your kid's classmates parents paying the sticker price. (read articles on tuitions discounting)

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well I told my son I could not pay $80K/ yr that we would run out of $ after 2 years.

He didn’t care and went anyway.

After year1 he got a scholarship.

So it worked out.

If he listened to us he would have not gone to his top school.

But if he hadn't gotten that scholarship, he might have needed to transfer after 2 years vs picking an excellent school to attend all 4 years he could afford. He also might have stayed and come out with $100K+ in student loans, not a bright decision. So while it worked out, it was much more likely to not work out well.

+1 I worked for a few years at a private. This story is not the typical one. Students, figuring the same, had to transfer out or parents took out the PLUS loan.

[Anonymous]

Anonymous wrote:My parents did this. HHI of 300k in the early 2000s and didn’t save a penny. And wouldn’t co-sign for private loans. Found out when I’d already gotten in to my dream school.

Are they selfish (irresponsible?) in other ways also?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My kid is attending a private that cost $75k a year. She got significant merit scholarships that have us paying about $40k/year out of pocket.

That’s why.

And to many, $40k is still a lot.

Others, the full-payers, are funding your kid, unless your kid is the recipient of an endowed-named scholarship.
Be thankful for your kid's classmates parents paying the sticker price. (read articles on tuitions discounting)

Of course, it's also a pocket change to some.
It all depends.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

PP. I'm sorry for the fact that I'd full pay Harvard but not Tufts is offensive to some posters on this thread. I'd also likely full pay for a Lexus but not a Toyota.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

PP. I'm sorry for the fact that I'd full pay Harvard but not Tufts is offensive to some posters on this thread. I'd also likely full pay for a Lexus but not a Toyota. [/quote

Well depending upon your major Tufts or GATech or others are actually better schools. Just seems controlling to limit where your kid can go, as long as they are good schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

PP. I'm sorry for the fact that I'd full pay Harvard but not Tufts is offensive to some posters on this thread. I'd also likely full pay for a Lexus but not a Toyota. [/quote

Well depending upon your major Tufts or GATech or others are actually better schools. Just seems controlling to limit where your kid can go, as long as they are good schools.

Controlling is right. It is my money. Georgia Tech for CS at $60,000 sounds much better than Tufts at $78,000

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

PP. I'm sorry for the fact that I'd full pay Harvard but not Tufts is offensive to some posters on this thread. I'd also likely full pay for a Lexus but not a Toyota. [/quote

Well depending upon your major Tufts or GATech or others are actually better schools. Just seems controlling to limit where your kid can go, as long as they are good schools.

Controlling is right. It is my money. Georgia Tech for CS at $60,000 sounds much better than Tufts at $78,000

Both Georgia Tech for CS and Tufts for CS are better than useless degrees from HYPwhatever for moneywise.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Told DS that any school that's not HYPSM is going to have to come up with aid to get us "near" the cost of W&M full pay in-state. That's it.

That’s the absolute worst.
You’re telling your kid that it’s Ivy or In state only, which means that you are telling them that you have the money, but if they’re not at the tippy top and have their name chosen out of the magical hat, you don’t find them worthy of the money you would otherwise spend on their education.

Yeah, I just don't get that. There are may T20-T100 that cost $60-80K that are excellent schools. So they'd pay full for HYPSM but not for Tufts or Vanderbilt or Rochester or Case or GaTech or CMU or UCLA or the list goes on and on....? All excellent schools and well worth full pay, if you thought HYPSM were worth full pay. Those parents only care about being able to brag about where their kid went apparently.

PP. I'm sorry for the fact that I'd full pay Harvard but not Tufts is offensive to some posters on this thread. I'd also likely full pay for a Lexus but not a Toyota. [/quote

Well depending upon your major Tufts or GATech or others are actually better schools. Just seems controlling to limit where your kid can go, as long as they are good schools.

Controlling is right. It is my money. Georgia Tech for CS at $60,000 sounds much better than Tufts at $78,000

Ga Tech is "only" $50k OOS