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

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

I agree. But it should go - retirement, then savings for kid(s), THEN you get pregnant and work a daycare payment into the budget, THEN you figure out what kind of mortgage you can take on. Too many people around here do it ass backwards. They buy the expensive house first and get pregnant without figuring out how to pay for daycare while also saving for their own retirement and college educations for their child. It actually works if you do it with a little foresight.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

omg how stupid are you? obviously Columbia grads tend to be a bigger deal in the world and are more numerous in super competitive fields (art, publishing, journalism, finance, etc.) than penn state or uva grads. duh. what you're talking about is the whole purpose of going to an "elite" school. you just made the OP's point.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

lol how many penn state grads are at The New Yorker? Maybe one? How many Columbia grads are at those kinds of magazines?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

I agree. But it should go - retirement, then savings for kid(s), THEN you get pregnant and work a daycare payment into the budget, THEN you figure out what kind of mortgage you can take on. Too many people around here do it ass backwards. They buy the expensive house first and get pregnant without figuring out how to pay for daycare while also saving for their own retirement and college educations for their child. It actually works if you do it with a little foresight.

+ 1

It's their own fault they are in this situation to begin with. I don't understand how people are continually surprised by how much college costs. Didn't you know this was coming when you got pregnant??? You have 18 years to save. Fucking do it and stop complaining.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

lol how many penn state grads are at The New Yorker? Maybe one? How many Columbia grads are at those kinds of magazines?

? Did I miss some indication that this kid is trying to work st the New Yorker?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

lol how many penn state grads are at The New Yorker? Maybe one? How many Columbia grads are at those kinds of magazines?

? Did I miss some indication that this kid is trying to work st the New Yorker?

It's one example of a super competitive, ultra elite field that would be easier to get into with a Columbia degree than one from UVA.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

I agree. But it should go - retirement, then savings for kid(s), THEN you get pregnant and work a daycare payment into the budget, THEN you figure out what kind of mortgage you can take on. Too many people around here do it ass backwards. They buy the expensive house first and get pregnant without figuring out how to pay for daycare while also saving for their own retirement and college educations for their child. It actually works if you do it with a little foresight.

+ 1

It's their own fault they are in this situation to begin with. I don't understand how people are continually surprised by how much college costs. Didn't you know this was coming when you got pregnant??? You have 18 years to save. Fucking do it and stop complaining.

Ordinary middle class families cannot save enough while raising children to make any kind of significant difference for this type of tuition. I have never heard of a family that was not aware of the steep cost of tuition, but I have heard people express shock that colleges actually considered them financially capable of paying $50,000 a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

I agree. But it should go - retirement, then savings for kid(s), THEN you get pregnant and work a daycare payment into the budget, THEN you figure out what kind of mortgage you can take on. Too many people around here do it ass backwards. They buy the expensive house first and get pregnant without figuring out how to pay for daycare while also saving for their own retirement and college educations for their child. It actually works if you do it with a little foresight.

+ 1

It's their own fault they are in this situation to begin with. I don't understand how people are continually surprised by how much college costs. Didn't you know this was coming when you got pregnant??? You have 18 years to save. Fucking do it and stop complaining.

Ordinary middle class families cannot save enough while raising children to make any kind of significant difference for this type of tuition. I have never heard of a family that was not aware of the steep cost of tuition, but I have heard people express shock that colleges actually considered them financially capable of paying $50,000 a year.

People who make under 120k tend to get full tuition at these elite schools anyway. People who make 150k + should be able to save on their own.

[Anonymous]

If the child is even considering graduate work then no, Take the debt for the highest degree.

[Anonymous]

No way would I risk my financial future on my kids' college.

[Anonymous]

No, nor would I allow my child to do it. If they are going to medical or MBA, then I would pay for graduate school but not undergrads. My sister went to top schools as a doctor and my IT husband who went to a no name school is making more money..that level of debt for us or our child is not worth it. We can afford to pay for a state school right now. If we can do more and pay cash, we will.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am really LOLing at all the VA boosters who think UVA is on par with Columbia.

Ask yourself this. If you had the money and the kid got into both schools, which would you recommend? Columbia is the kind of school that comes with a wealth of connections and opens doors to elite society in the Northeast.

UVA can't give you that except maybe in VA.

You have it backwards. People from elite backgrounds and a wealth of connections attend Columbia; they don't socialize with the kids on aid who have campus jobs and can't jet out to Killington every weekend or blow wads of money in NYC.

Well I disagree about but actually those weren't the connections I was referring to anyway. It's when you go to interview for an internship or entry level job and you get to talk to Columbia grads who would rather take a chance on you then on someone from another school. It's human nature.

You DO know that this same thing happens with grads from pretty much every school (when they encounter other alumni in the workforce), right? Obviously it's not in a similar realm academically, but my sister went to penn state and pretty much every career opportunity she's gotten there's been a penn state connection - penn state is a huge school with a proud, enthusiastic alumni base and they're kind of everywhere. Having that commonality is an easy discussion point. I'm not sure your argument makes any sense.

lol how many penn state grads are at The New Yorker? Maybe one? How many Columbia grads are at those kinds of magazines?

? Did I miss some indication that this kid is trying to work st the New Yorker?

It's one example of a super competitive, ultra elite field that would be easier to get into with a Columbia degree than one from UVA.

A very specific and low paying field. Those jobs are for people who already have money, not people trying to make some.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This is why you should be saving up front, so you don't have to make these kinds of choices after your kid has worked their butt off all their life to get into the school of his or her dreams.

A middle class income may not easily allow for much college savings on top of paying off one's own student loans, mortgage, caring for elders, etc.

The first rule of savings is to pay yourself first.

Pay yourself first means saving for retirement, not your kids' college.

I agree. But it should go - retirement, then savings for kid(s), THEN you get pregnant and work a daycare payment into the budget, THEN you figure out what kind of mortgage you can take on. Too many people around here do it ass backwards. They buy the expensive house first and get pregnant without figuring out how to pay for daycare while also saving for their own retirement and college educations for their child. It actually works if you do it with a little foresight.

+ 1

It's their own fault they are in this situation to begin with. I don't understand how people are continually surprised by how much college costs. Didn't you know this was coming when you got pregnant??? You have 18 years to save. Fucking do it and stop complaining.

Ordinary middle class families cannot save enough while raising children to make any kind of significant difference for this type of tuition. I have never heard of a family that was not aware of the steep cost of tuition, but I have heard people express shock that colleges actually considered them financially capable of paying $50,000 a year.

People who make under 120k tend to get full tuition at these elite schools anyway. People who make 150k + should be able to save on their own.

$150+ in this area is not very much. We have a tiny house, two paid for cars and we do save for college. We don't take lavish vacations, eat fancy meals and are doing well but we still could not afford $70K a year. I'd love to but its not realistic. We started a college fund, including 4 years prepaid when our child was a few months old. Its not like we are not trying.