Colleges That Cost More Than $60,000

[Anonymous]

Some of the expensive schools on that list have big endowments that allow them to be generous with financial aid. We got significant aid with an HHI of $130k, 2 kids in college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow. Reading this thread I feel very poor. We are just hoping we can afford a good state school. Not sure we will be able. Our HHI is not anywhere close to the ones I see posted here.

Don't panic. I'm 10:48. Our issue is that our HHI was not always $500k. We just got there within the last 5 yrs. but our kids were born 20 yrs ago. Back then we had a combined income of $30k. We could barely afford rent and food. Saving for college was not even on the radar screen. Neither was saving for retirement. So now, we make a lot of money and so we have to pay out of pocket for college and the kids really don't have college funds. We just write the check 2x per year. We are busily trying to out away for retirement because someday we would like to stop working. My choice is retirement or an expensive school. If any of my kids got into Harvard, I would find a way. But like I said, the one that's already in college was a solid B student. If your a B student in high school, you can go B student school.

Our next youngest has LD and has not done well in HS. He's a C student on a good day and by the grace of his teachers. He's off to community college because that's what's best for him. I suppose that there is probably some 4 yr LD college that will cost me $60k but I don't see the point.

Good for you! Out of curiosity, what do you and DH do to make that kind of income jump in 20 years?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow. Reading this thread I feel very poor. We are just hoping we can afford a good state school. Not sure we will be able. Our HHI is not anywhere close to the ones I see posted here.

Don't panic. I'm 10:48. Our issue is that our HHI was not always $500k. We just got there within the last 5 yrs. but our kids were born 20 yrs ago. Back then we had a combined income of $30k. We could barely afford rent and food. Saving for college was not even on the radar screen. Neither was saving for retirement. So now, we make a lot of money and so we have to pay out of pocket for college and the kids really don't have college funds. We just write the check 2x per year. We are busily trying to out away for retirement because someday we would like to stop working. My choice is retirement or an expensive school. If any of my kids got into Harvard, I would find a way. But like I said, the one that's already in college was a solid B student. If your a B student in high school, you can go B student school.

Our next youngest has LD and has not done well in HS. He's a C student on a good day and by the grace of his teachers. He's off to community college because that's what's best for him. I suppose that there is probably some 4 yr LD college that will cost me $60k but I don't see the point.

Good for you! Out of curiosity, what do you and DH do to make that kind of income jump in 20 years?

DH was a carpenter and then went out on his own.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow. Reading this thread I feel very poor. We are just hoping we can afford a good state school. Not sure we will be able. Our HHI is not anywhere close to the ones I see posted here.

Don't panic. I'm 10:48. Our issue is that our HHI was not always $500k. We just got there within the last 5 yrs. but our kids were born 20 yrs ago. Back then we had a combined income of $30k. We could barely afford rent and food. Saving for college was not even on the radar screen. Neither was saving for retirement. So now, we make a lot of money and so we have to pay out of pocket for college and the kids really don't have college funds. We just write the check 2x per year. We are busily trying to out away for retirement because someday we would like to stop working. My choice is retirement or an expensive school. If any of my kids got into Harvard, I would find a way. But like I said, the one that's already in college was a solid B student. If your a B student in high school, you can go B student school.

Our next youngest has LD and has not done well in HS. He's a C student on a good day and by the grace of his teachers. He's off to community college because that's what's best for him. I suppose that there is probably some 4 yr LD college that will cost me $60k but I don't see the point.

Good for you! Out of curiosity, what do you and DH do to make that kind of income jump in 20 years?

DH was a carpenter and then went out on his own.

I love it! Hubby took what he was good at and made it work financially. My carpenter and plumber make more than I do.

[Anonymous]

Anonymous wrote:I love it! Hubby took what he was good at and made it work financially. My carpenter and plumber make more than I do.

Thanks. I'm very proud of him.

[Anonymous]

Anonymous wrote:My kid attends a school on the list and another graduated from one of the listed schools. After merit and need based aid we ended up paying less than 20K.

May I ask how much of the package was merit based aid? And if you feel comfortable answering, which schools? TIA

[Anonymous]

Would an income of $150,000-$160,000 HHI and a mortgage get financial aid? No other assets or substantial savings.

[Anonymous]

Anonymous wrote:Would an income of $150,000-$160,000 HHI and a mortgage get financial aid? No other assets or substantial savings.

A small amount probably. But aid is complicated and comes in many forms. Have DC go to a slightly less competitive college to get more aid. DD had the option to step down in USNEWS rank about 15 spaces for $15k more in aid a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Would an income of $150,000-$160,000 HHI and a mortgage get financial aid? No other assets or substantial savings.

A small amount probably. But aid is complicated and comes in many forms. Have DC go to a slightly less competitive college to get more aid. DD had the option to step down in USNEWS rank about 15 spaces for $15k more in aid a year.

We did not apply fot FA but found this to be the case as well: DD was awarded more merit $ as the schools went lower on the USNWR rankings. I guess it makes sense. Alas, DD chose the highest ranked school that came with the full price tag.

[Anonymous]

Some people are happy when they buy expensive purses or cars or vacations. I feel fine about spending a lot of my money on education if the college is spending its money on fair salaries and small class sizes.

[Anonymous]

Only for the top ranked schools :

https://colleges.niche.com/rankings/best-overall/methodology/


They aren't all that expensive

[Anonymous]

Anonymous wrote:Very few pay full price. It is monopoly pricing, getting each sucker to pay what they can afford. At many places a lot of the price is the cost of grad programs(paying high prices for star professors, their staff and facilities). It adds to the name of the university, but is of questionable value to ungrads who have no interaction with the professors or programs.

Many of these schools provide lots and lots of financial aid for students with lesser means. I pay full freight at a SLAC which is not on this list but is only a few hundred dollars less than the $60,000 price tag. We have worked hard and had a big dose of luck in our lives with the result that we have made quite a bit of money. I like sending my child to a college that makes a point of offering generous aid packages to those with the need. Pay if forward baby.

[Anonymous]

^^ We also pay near $60K for our kid's private 10,000 student top 50 great fit college. It's our choice and we don't mind that we're subsidizing another student's education.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Would an income of $150,000-$160,000 HHI and a mortgage get financial aid? No other assets or substantial savings.

A small amount probably. But aid is complicated and comes in many forms. Have DC go to a slightly less competitive college to get more aid. DD had the option to step down in USNEWS rank about 15 spaces for $15k more in aid a year.

We did not apply fot FA but found this to be the case as well: DD was awarded more merit $ as the schools went lower on the USNWR rankings. I guess it makes sense. Alas, DD chose the highest ranked school that came with the full price tag.

Yes. We found that too. Take a slight selectivity hit for $15 to $20k merit aid!

[Anonymous]

Thought about having my kid apply to Fordham because they sent us a free application in the mail, then I went online and saw that it was over 60K a year. Lol! Yeah, save me that 40 bucks on the application fee, and then bill me 59,960 dollars a year! Nice one!