Do many people pick publics because of money?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Virginia has some fantastic state schools. Why pay for private when you can get a better education, with a larger alumni network, at a public?

I definitely think this is geographic. Publics were not the norm where I grew up. I don’t think my friends’ kids are considering publics either.

Publics were completely the norm at my Fairfax Co HS in the late 80s. Most everyone went in-state, including me.

My firstborn is headed to private next year. Better fit. Better size. T10--not better price though, not even remotely close!

[Anonymous]

Anonymous wrote:

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

[Anonymous]

While I haven’t done a survey of my friends back in NYC, I’m fairly certain none of them are considering publics, just the way I didn’t. The parents attended elite colleges as will their children.

The dc privates seem more similar to what I would expect for kids to attend T20 colleges and SLACs. They seem to have less kids attending state colleges.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

You don't understand that the total debt required can be much, much more than you had? And that taking on that means limiting the student to a narrow set of career paths that have the potential to pay off that debt? And that lots of people go on to great careers from more affordable schools?

You seem very limited in understanding.

[Anonymous]

You really don’t grasp how much more expensive college is than we most of the people on this board attended. My college was about $20k/year. It’s now about $90k/year. While I loved it, it’s absolutely not worth the cost differential over a public school, especially when VA has such amazing public schools.

And, thankfully, my kids have no interest in going into a socially useless job like investment banking. Money is not their primary motivator.

[Anonymous]

Anonymous wrote:While I haven’t done a survey of my friends back in NYC, I’m fairly certain none of them are considering publics, just the way I didn’t. The parents attended elite colleges as will their children.

The dc privates seem more similar to what I would expect for kids to attend T20 colleges and SLACs. They seem to have less kids attending state colleges.

Because they are wealthy, because they are already paying a lot for private k-12. You don't realize this is a really small subset of college -going students?

I'd think all these elite college grads would be smarter.

[Anonymous]

Anonymous wrote:You really don’t grasp how much more expensive college is than we most of the people on this board attended. My college was about $20k/year. It’s now about $90k/year. While I loved it, it’s absolutely not worth the cost differential over a public school, especially when VA has such amazing public schools.

And, thankfully, my kids have no interest in going into a socially useless job like investment banking. Money is not their primary motivator.

I believe many of these families pay for in state tuition. The students would not have to take out 400k, maybe 150-200k. I personally think that debt would be worth it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You understand that tuition rates have grown astronomically faster than wages since you were in college, right?

Of course I understand. We can easily afford to pay tuition. However, even if we couldn’t, I would encourage my children to apply and attend the best college possible.

I know many kids going to UVA and W&M could have gone to “better” schools. I’m sure this is more from public high schools, not private. If you are already paying 50k for high school tuition, paying 80k for college tuition probably would not be a factor in deciding where to go to college.

You don’t seem particularly smart.

[Anonymous]

Since even stupid people can get high paying just in finance, apparently, I don't see why anyone is afraid of loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Virginia has some fantastic state schools. Why pay for private when you can get a better education, with a larger alumni network, at a public?

I definitely think this is geographic. Publics were not the norm where I grew up. I don’t think my friends’ kids are considering publics either.

I'm from PA, and a very large portion of my public high school chose Pitt or Penn State and their satellite campuses. But at my kid's private high school here, it appears only four students will be attending a public college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You understand that tuition rates have grown astronomically faster than wages since you were in college, right?

Of course I understand. We can easily afford to pay tuition. However, even if we couldn’t, I would encourage my children to apply and attend the best college possible.

I know many kids going to UVA and W&M could have gone to “better” schools. I’m sure this is more from public high schools, not private. If you are already paying 50k for high school tuition, paying 80k for college tuition probably would not be a factor in deciding where to go to college.

1. If you couldn't afford to pay, then why would you encourage your children to apply and attend the "best college possible"?

2. Your statement about a person paying $50K being able to pay $80K (and rising)(It's actually $90K now, generally) makes assumptions and is erroneous.

3. Yes, people pick publics and privates with merit aid over "better" brand-name schools because of money.

Dh and I want to HYP grad schools. I earned high six figures and Dh now earns seven figures. I don’t think it would have been possible without our education.

You mean you don't think it would have been possible without being lifted into that elite social class.

HYP do not teach anything different that leads to that income.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m paying $50k for high school and I don’t want to pay $80k for college.

You should have saved the money to pay for the better school. Anyone who claims UMD is better than or the same as MIT is ignorant or lying.

UMD worked for Larry Page.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You really don’t grasp how much more expensive college is than we most of the people on this board attended. My college was about $20k/year. It’s now about $90k/year. While I loved it, it’s absolutely not worth the cost differential over a public school, especially when VA has such amazing public schools.

And, thankfully, my kids have no interest in going into a socially useless job like investment banking. Money is not their primary motivator.

I believe many of these families pay for in state tuition. The students would not have to take out 400k, maybe 150-200k. I personally think that debt would be worth it.

$200K of debt for undergrad?? Even at a low interest rate (which is not what we are experiencing now) this is a debt burden that will significantly impact lifestyle, housing, family building etc for years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.