two kids in college - what is prestige worth?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
4 pages in and OP has no numbers so far.

I had a pre-read and got numbers. In the first post I shared the total COA for two kids based on those pre-reads. Those are the numbers. The colleges actually can confirm a lot, they use historical increase in tuition yoy, etc. They have a spreadsheet they just put figures into and they can tell me how often that spreadsheet changes (for Princeton, Grinnell and Williams, they've only allocated more money to FA, not less). I have a name and a piece of paper I can go back and talk to them about if their numbers are not what they gave in a pre-read. They said to do that - it puts you in a really good position to get more money during an appeal should it come to that. What they can't predict (nor can I) is if my own income changes substantially or if I inherit a diamond mine.

So... let's believe they will honor this conversation next year and actually follow through. Was this exercise helpful in any way, considering these colleges' vast differences in reputation?

Both of your kids should go to their best overall fit. It's a bit weird to tell your oldest, this close to May 1st, go to this school and not that school because we'll maybe end up paying less for both of you if you do.

Where does your oldest want to go? If they want Princeton, and you waited until April 24th to tell them no, you suck entirely.

[Anonymous]

OP, maybe I am missing something, but grateful if you can clarify:

if DC2 gets into Princeton or comparable school, but you do not get more aid, then DC2 takes the hit on prestige?

[Anonymous]

Anonymous wrote:

Anonymous wrote:
4 pages in and OP has no numbers so far.

I had a pre-read and got numbers. In the first post I shared the total COA for two kids based on those pre-reads. Those are the numbers. The colleges actually can confirm a lot, they use historical increase in tuition yoy, etc. They have a spreadsheet they just put figures into and they can tell me how often that spreadsheet changes (for Princeton, Grinnell and Williams, they've only allocated more money to FA, not less). I have a name and a piece of paper I can go back and talk to them about if their numbers are not what they gave in a pre-read. They said to do that - it puts you in a really good position to get more money during an appeal should it come to that. What they can't predict (nor can I) is if my own income changes substantially or if I inherit a diamond mine.

But the numbers you are putting into the equation for kid #2 are 100% fictional.

[Anonymous]

What is your EFC at Princeton (for kid 1) for the years when you’ll have 2 in college at same time?

[Anonymous]

I’ve had 3 kids attend/attending different T15 colleges including HYPSM. When asked by others how they liked x college, they didn’t have anything to really compare it to. But all are very happy with their choices and would choose their college over again. Your lucky child has great choices to choose from. I’d say they should go with where they feel is the best fit if financials work.

[Anonymous]

I've still not seen what kid #1 prefers? And I agree that, at this point, it's pretty crummy to be playing all these number games (that have very little basis give the black box of kid #2) while kid #1 has a week left to commit.

[Anonymous]

Sounds like your kid has an idea where they can be happy. Did your child attend admitted student days? I think those really helped my kids decide. Although one did go sight unseen (Covid year) and would choose it again in a heartbeat.

I’d say your kid should listen to their gut. I regret going to Yale over Princeton. I got a fine education, but I would’ve been happier at Princeton.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
4 pages in and OP has no numbers so far.

I had a pre-read and got numbers. In the first post I shared the total COA for two kids based on those pre-reads. Those are the numbers. The colleges actually can confirm a lot, they use historical increase in tuition yoy, etc. They have a spreadsheet they just put figures into and they can tell me how often that spreadsheet changes (for Princeton, Grinnell and Williams, they've only allocated more money to FA, not less). I have a name and a piece of paper I can go back and talk to them about if their numbers are not what they gave in a pre-read. They said to do that - it puts you in a really good position to get more money during an appeal should it come to that. What they can't predict (nor can I) is if my own income changes substantially or if I inherit a diamond mine.

So... let's believe they will honor this conversation next year and actually follow through. Was this exercise helpful in any way, considering these colleges' vast differences in reputation?

Both of your kids should go to their best overall fit. It's a bit weird to tell your oldest, this close to May 1st, go to this school and not that school because we'll maybe end up paying less for both of you if you do.

Where does your oldest want to go? If they want Princeton, and you waited until April 24th to tell them no, you suck entirely.

She said the kid was leaning towards Williams.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Princeton parent here. Kid got also full ride from a very good school. And we are not so rich that money is no issue. The kid wanted to go to Princeton, we let them go. So glad we did. Very happy with Princeton. The school plans everything in its power to make kids happy and learning. And learning not only their subject matters, but also other things.

Thanks for this. I realize Princeton seems to be the obvious choice, but my kid has two very good friends at Princeton and neither very impressed tbh, although one is just a freshman. They're like, "eh, it's fine .. it's good .. it's not super special" and generally not encouraging. And they both have really hefty FA awards. I think kid is leaning Williams right now, and then of course we think, well, if it's Williams why not Grinnell plus money for grad school. There's no bad decision (except Georgetown, that's not happening)

I know unhappy kids at Grinnell and at Williams fwiw.

say more - i have a dc interested in both

Sorry, no special insight, just the kids I know. For Grinnell I think it’s partly location (weather and isolation)-they offer merit for a reason. For Williams it’s more social fit and finding friends. Harder if you aren’t on a team. But also that college can be lonely, hard, and stressful wherever.

[Anonymous]

The through-line for P, W, and G is extraordinarily resourced undergrad schools with a real intellectual heft. Small class sizes, professors teach the classes.

Can't go wrong.

[Anonymous]

OP is off in Lala-Land while his first child is sweating bullets this close to Decision Day.

Not cool, OP. Your cold feet are hurting your kids. Typical of a certain type of bean-counter.

You should have been upfront with your kids about you finances before they applied anywhere.

[Anonymous]

There are more go-getters at Princeton, if you care about financial success either through your own career, your career network, friends, or a potential spouse. If you study something remotely quantitive or entrepreneurial at Princeton, and are willing to leverage that in the working world, the financial payoff can be in the millions, or more, over a lifetime.

[Anonymous]

Anonymous wrote:

OP is off in Lala-Land while his first child is sweating bullets this close to Decision Day.

Not cool, OP. Your cold feet are hurting your kids. Typical of a certain type of bean-counter.

You should have been upfront with your kids about you finances before they applied anywhere.

You're literally making this up. Why I have no idea. We called schools to ask for clarity on what happens next year when she got the acceptances. I'm sorry I didn't alert DC Urban Moms and Dads then, I guess? A lot of kids are still weighing decisions rn. Accepted students day at Princeton as last week ffs. For my child-of-bean-counters, decision-making includes how to allocate a big chunk of money set aside for college. Do she want to keep some powder dry for grad school? Do she want to do a gap year and get more FA next year (suggested by two schools - who also want the best for these kids)? She's a smart kid making smart decisions. I'm super proud.

[Anonymous]

Anonymous wrote:There are more go-getters at Princeton, if you care about financial success either through your own career, your career network, friends, or a potential spouse. If you study something remotely quantitive or entrepreneurial at Princeton, and are willing to leverage that in the working world, the financial payoff can be in the millions, or more, over a lifetime.

Dale and Kruger have shown definitively that where you go to college will not affect your career salary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

OP is off in Lala-Land while his first child is sweating bullets this close to Decision Day.

Not cool, OP. Your cold feet are hurting your kids. Typical of a certain type of bean-counter.

You should have been upfront with your kids about you finances before they applied anywhere.

You're literally making this up. Why I have no idea. We called schools to ask for clarity on what happens next year when she got the acceptances. I'm sorry I didn't alert DC Urban Moms and Dads then, I guess? A lot of kids are still weighing decisions rn. Accepted students day at Princeton as last week ffs. For my child-of-bean-counters, decision-making includes how to allocate a big chunk of money set aside for college. Do she want to keep some powder dry for grad school? Do she want to do a gap year and get more FA next year (suggested by two schools - who also want the best for these kids)? She's a smart kid making smart decisions. I'm super proud.

You guys are talking about this with one week to go? I can understand a teen not having a great sense of timing, but you, the adult? You're cutting it a bit close to be still talking about a gap year in April of senior year!
The allocation of money was something you were supposed to do for the past 18 years, my friend. Calling around frantically now isn't going to change much.