Your kids will be fine.. college name doesn’t matter as much as dcum tells you

[Anonymous]

NP. I think Ivy is beginning to be a negative on a resume. There are folks who won’t hire from Ivies any more because the kids are insufferable and not any better than state schools.

[Anonymous]

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Anonymous wrote:Tell me more about your kid that you are proud of that got 1100 sats after much study, or had a 3.1 w gpa and got a coveted job, or who went to Towson or U Dayton or Duquesne or kennesaw state or some school most people on this board don’t even discuss or consider.

That’s my kid! He hasn’t graduated yet to you’ll have to wait to see if you think he is impressive enough. But he is a truly fantastic human. He is incredibly competitive and picks up new things to master as a hobby. People gravitate to him and look to him to lead - little kids, peers, coaches, teachers, bosses. And he is kind. He reads people and their motivations and emotions the way more academic people read books.

Yeah, his degree is going to be from a state school that accepts 80% of applicants. But I really don’t think it will matter for this kid. But time will tell, no?

It doesn't have to matter. My uncle barely graduated high school, started a business at 19, and is worth $50m+. Entrepreneurs will come out ahead in a post AI world.

Congrats to your uncle…but entrepreneurs as a whole fail like 90%+ of the time. God bless them because we need the 10% to succeed and the 1% to succeed massively.

Maybe you mean those with the mindset will succeed, because it’s guaranteed that 90% of all actual entrepreneurs will fail.

I think your failure numbers are grossly misstated/misinterpreted. The 90 percent rate must be for tech startups. The average small business failure rate is much lower. Plus business failure is not equal entrepreneurs failure, they often try again.

My numbers are based on people starting true businesses with employees. The business failure rate seems lower than it really is because there are so many sole member S Corps / LLCs who basically consult for themselves and never completely fail because no rent, employees, etc. They still count in the numbers of new businesses.

This seems like kind of an odd distinction. My S-corp solo consulting business made me between 100-400k per year for 20+ years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I just want my kids to be happy.

We all do. But happy doesn’t pay the bills. Financial stress is a lot on relationships.

“Kids these days” who are raised with regular trips to Starbucks and have door dash are not used to having to feel uncomfortable being poor. I was poor and my kids are not. I worry about how happy they’ll be when they’re on their own if they aren’t doing well financially. We are trying to keep them humble, but it’s hard when it feels like all socializing takes place somewhere that costs money….they don’t want to bring their friends to my house for pizza anymore 🤣

I have the same concern. As a kid, my family was lower middle income, and we struggled sometimes. Our trips were mostly to places nearby, like the Sierras and the Sierra Nevada foothills. I lived low to the ground during college and law school as well. Didn't start spending a little until I began working afterwards. Now, our family is upper middle class and my son, going off to the East Coast for college, is one of those "kids these days". But, fortunately, he doesn't object to having friends over for pizza. And he has a strong ethic. He pounded the pavement for his summer job because he really enjoys working. He also went to a high school where he had friends who were poor. So I am cautiously hopeful.

[Anonymous]

My hard-working DC is at a college that you could probably apply to today and still start next month. General engineering major in an ABET accredited program. Same DC is currently at a $30 an hour internship with housing provided on top of the salary and has a job offer for after graduation. No DC will not be a finance bro, but we are ok with that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:Tell me more about your kid that you are proud of that got 1100 sats after much study, or had a 3.1 w gpa and got a coveted job, or who went to Towson or U Dayton or Duquesne or kennesaw state or some school most people on this board don’t even discuss or consider.

That’s my kid! He hasn’t graduated yet to you’ll have to wait to see if you think he is impressive enough. But he is a truly fantastic human. He is incredibly competitive and picks up new things to master as a hobby. People gravitate to him and look to him to lead - little kids, peers, coaches, teachers, bosses. And he is kind. He reads people and their motivations and emotions the way more academic people read books.

Yeah, his degree is going to be from a state school that accepts 80% of applicants. But I really don’t think it will matter for this kid. But time will tell, no?

It doesn't have to matter. My uncle barely graduated high school, started a business at 19, and is worth $50m+. Entrepreneurs will come out ahead in a post AI world.

Congrats to your uncle…but entrepreneurs as a whole fail like 90%+ of the time. God bless them because we need the 10% to succeed and the 1% to succeed massively.

Maybe you mean those with the mindset will succeed, because it’s guaranteed that 90% of all actual entrepreneurs will fail.

I think your failure numbers are grossly misstated/misinterpreted. The 90 percent rate must be for tech startups. The average small business failure rate is much lower. Plus business failure is not equal entrepreneurs failure, they often try again.

My numbers are based on people starting true businesses with employees. The business failure rate seems lower than it really is because there are so many sole member S Corps / LLCs who basically consult for themselves and never completely fail because no rent, employees, etc. They still count in the numbers of new businesses.

This seems like kind of an odd distinction. My S-corp solo consulting business made me between 100-400k per year for 20+ years.

But you likely would never declare bankruptcy which is what shows up in the failure statistics. Not saying you can’t earn $$$s, but if your solo business only brought in say $25k then more likely you go get a W2 job and maybe keep your S-Corp going but unlikely it takes on debt and has obligations what would require a court filing.

[Anonymous]

The more you put into college the more you will get out of it. This goes for every college.

Trying to get my oldest to get involved when he gets to college. In high school he Hated ALL high school activities.

[Anonymous]

Anonymous wrote:Were there any interns from lower tier schools, or just the well known and well respected ones you mentioned?

There is also one from DePaul (chicago). There are others too that are not from UMD, UVA, Georgia Tech, Va Tech, Ohio State, etc.. there a few from Michigan too.

[Anonymous]

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Anonymous wrote:UMD is a backup for most kids. an over achiever ends up at UMD and excels. easier to stand out. if kid over achieves and gets to T10 ... could end up at below the bottom third and look mediocre.

Saying UMD is a backup for most kids is crazy work. This board makes me laugh.

I graduated from UMD. But to the kids with the stats to get into schools like Gtech (12% acceptance rate) and UVA (15% acceptance rate), UMD is definitely a back up.

My DC was accepted to Michigan and Georgia Tech for CS. But picked UMD instead. Worked out really well for him. Some of the others who ended up going to Michigan for CS not doing as well in comparison. But maybe that’s because of the job market.

[Anonymous]

Disagree, if you’re POC it lends you instant credibility that you shouldn’t have to be earning to be seen as equal in the first place.

[Anonymous]

The general advice is that college name doesn’t fully matter but it certainly helps, which I find very accurate. Some careers are made much more difficult to enter without the right pedigree. Of course, there’s many careers and for a majority of even upper middle class earners, degree type matters much more than where you got it from.

[Anonymous]

Anonymous wrote:NP. I think Ivy is beginning to be a negative on a resume. There are folks who won’t hire from Ivies any more because the kids are insufferable and not any better than state schools.

Baloney. Keep telling yourself that to make yourself feel better.

[Anonymous]

It depends what your goals are for your kids. If you want to up their chances of being or staying in certain social circles to impress your friends, etc., then yeah you may care about pedigree.


But if you just want them to be rich, they could do that with most any degree or even without one but they have to work hard. In fact, "statistically speaking, the Journal says, those owners of thriving small and medium-size regional businesses are the “largest source of income for the 1% highest earners in the U.S.”

https://www.inc.com/bruce-crumley/stealthy-wealthy-entrepreneurs-one-percenters-boring-businesses/91190916


If you just want them to happy then that is something else entirely.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:UMD is a backup for most kids. an over achiever ends up at UMD and excels. easier to stand out. if kid over achieves and gets to T10 ... could end up at below the bottom third and look mediocre.

Saying UMD is a backup for most kids is crazy work. This board makes me laugh.

I graduated from UMD. But to the kids with the stats to get into schools like Gtech (12% acceptance rate) and UVA (15% acceptance rate), UMD is definitely a back up.

My DC was accepted to Michigan and Georgia Tech for CS. But picked UMD instead. Worked out really well for him. Some of the others who ended up going to Michigan for CS not doing as well in comparison. But maybe that’s because of the job market.

Kids and families have their reasons for picking certain schools over the others and often it clearly is for financial reasons which makes complete sense. That wasn't my point. My point was "safety" schools and UMD is often a safety school for very high stat engineering/CS or CompE kids.

[Anonymous]

Anonymous wrote:Tell me more about your kid that you are proud of that got 1100 sats after much study, or had a 3.1 w gpa and got a coveted job, or who went to Towson or U Dayton or Duquesne or kennesaw state or some school most people on this board don’t even discuss or consider.

My neighbors kid went to Duquesne. Did really well. Works in the Pittsburgh area still.

[Anonymous]

Anonymous wrote:NP. I think Ivy is beginning to be a negative on a resume. There are folks who won’t hire from Ivies any more because the kids are insufferable and not any better than state schools.

I told people I know with kids that school matters if you want to work on the Street, become a tenured professor or practice law for an elite non-profit like the ACLU. To varying degrees, that’s an Ivy, Cal, highly ranked SLAC sort of thing. Things with elite gatekeeping.

Don’t know if I’m right or not, but not sure how much it matters otherwise.