How many kids really decline acceptances to Top 10-15 uni's for State U?

[Anonymous]

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

Omg, the doomsday machine from those whose kids have no prayer at any of those schools or who have unfortunate parents.
Does no one save for college or retirement? Did no one get an inheritance or expect one? Were you similarly overly cautious in your home purchase and your house hadn’t appreciated in value as a result? Can you not downsize since you no longer have kids living with you? Do you not realize that you’re going to be dead of the typical American health maladies in 10-15 years anyway and you might as well invest in the kids? Stop hoarding all of your family’s resources and just prepare to die now like you are supposed to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

Omg, the doomsday machine from those whose kids have no prayer at any of those schools or who have unfortunate parents.
Does no one save for college or retirement? Did no one get an inheritance or expect one? Were you similarly overly cautious in your home purchase and your house hadn’t appreciated in value as a result? Can you not downsize since you no longer have kids living with you? Do you not realize that you’re going to be dead of the typical American health maladies in 10-15 years anyway and you might as well invest in the kids? Stop hoarding all of your family’s resources and just prepare to die now like you are supposed to.

Yes, we saved. Enough to pay up to $50k/year per kid.

No inheritance.

Cautious in home purchase.

Cannot downsize without moving out of this area, where our jobs are.

I have a chronic illness and will likely need to retire early. I am also likely to incur significant expenses for healthcare and long-term care. I will never burden our children with those expenses.

Why do you think that you know all of the details about other people’s circumstances?

[Anonymous]

One nice thing about living in Washington DC is that you meet enough people who went to fancy top-tier schools to immediately disabuse you of any notion that going to them means someone is particularly smart or competent.

[Anonymous]

Anonymous wrote:One nice thing about living in Washington DC is that you meet enough people who went to fancy top-tier schools to immediately disabuse you of any notion that going to them means someone is particularly smart or competent.

Hilarious, sad, and true!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

Omg, the doomsday machine from those whose kids have no prayer at any of those schools or who have unfortunate parents.
Does no one save for college or retirement? Did no one get an inheritance or expect one? Were you similarly overly cautious in your home purchase and your house hadn’t appreciated in value as a result? Can you not downsize since you no longer have kids living with you? Do you not realize that you’re going to be dead of the typical American health maladies in 10-15 years anyway and you might as well invest in the kids? Stop hoarding all of your family’s resources and just prepare to die now like you are supposed to.

Yes, we saved. Enough to pay up to $50k/year per kid.

No inheritance.

Cautious in home purchase.

Cannot downsize without moving out of this area, where our jobs are.

I have a chronic illness and will likely need to retire early. I am also likely to incur significant expenses for healthcare and long-term care. I will never burden our children with those expenses.

Why do you think that you know all of the details about other people’s circumstances?

I'm sorry about your illness. (I'm the "mistake writer again). Yeah, that is tough. Like you, I think saving what you saved is plenty. Our kids deserve our best, but they do not deserve our ruin.

My kid worked hard in high school, and got into a very fine school with a serious amount of merit aid. He applied to no privates that do not give merit aid. Anyone who thinks I didn't do enough for my kid's education is naive or spoiled.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

Omg, the doomsday machine from those whose kids have no prayer at any of those schools or who have unfortunate parents.
Does no one save for college or retirement? Did no one get an inheritance or expect one? Were you similarly overly cautious in your home purchase and your house hadn’t appreciated in value as a result? Can you not downsize since you no longer have kids living with you? Do you not realize that you’re going to be dead of the typical American health maladies in 10-15 years anyway and you might as well invest in the kids? Stop hoarding all of your family’s resources and just prepare to die now like you are supposed to.

Yes, we saved. Enough to pay up to $50k/year per kid.

No inheritance.

Cautious in home purchase.

Cannot downsize without moving out of this area, where our jobs are.

I have a chronic illness and will likely need to retire early. I am also likely to incur significant expenses for healthcare and long-term care. I will never burden our children with those expenses.

Why do you think that you know all of the details about other people’s circumstances?

I'm sorry about your illness. (I'm the "mistake writer again). Yeah, that is tough. Like you, I think saving what you saved is plenty. Our kids deserve our best, but they do not deserve our ruin.

My kid worked hard in high school, and got into a very fine school with a serious amount of merit aid. He applied to no privates that do not give merit aid. Anyone who thinks I didn't do enough for my kid's education is naive or spoiled.

To the PP. It is hard to find many “fine” schools that offer merit aid. Do you mind sharing the names of the ones your child found?
Thanks

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^I wouldn't go that route but others might choose differently. That's all.

Well sure. Some people also buy $500K homes with a $10K down payment and a yearly income of $75K or lease a car for $750 a month or make any number of dumb/dangerous financial choices. That doesn’t mean anything except for, well, people are dumb.

I'm the "mistake" writer. Families who overborrow for college when there are other alternatives are exposing themselves to serious risk, risk that might burden their children later. We are all fairly vulnerable to random health crises or expensive chronic illnesses, economic downturns and all the rest. It is important to help your kids get a start in life, but you shouldn't bankrupt yourself in the process. Too much Parent plus loans is dangerous.

Omg, the doomsday machine from those whose kids have no prayer at any of those schools or who have unfortunate parents.
Does no one save for college or retirement? Did no one get an inheritance or expect one? Were you similarly overly cautious in your home purchase and your house hadn’t appreciated in value as a result? Can you not downsize since you no longer have kids living with you? Do you not realize that you’re going to be dead of the typical American health maladies in 10-15 years anyway and you might as well invest in the kids? Stop hoarding all of your family’s resources and just prepare to die now like you are supposed to.

Yes, we saved. Enough to pay up to $50k/year per kid.

No inheritance.

Cautious in home purchase.

Cannot downsize without moving out of this area, where our jobs are.

I have a chronic illness and will likely need to retire early. I am also likely to incur significant expenses for healthcare and long-term care. I will never burden our children with those expenses.

Why do you think that you know all of the details about other people’s circumstances?

I'm sorry about your illness. (I'm the "mistake writer again). Yeah, that is tough. Like you, I think saving what you saved is plenty. Our kids deserve our best, but they do not deserve our ruin.

My kid worked hard in high school, and got into a very fine school with a serious amount of merit aid. He applied to no privates that do not give merit aid. Anyone who thinks I didn't do enough for my kid's education is naive or spoiled.

To the PP. It is hard to find many “fine” schools that offer merit aid. Do you mind sharing the names of the ones your child found?
Thanks

http://lmgtfy.com/?q=colleges+that+give+merit+aid

[Anonymous]

If your definition of "fine" is Ivy, then forget it.

But a whole slew below that give plenty, and you can google this.

Sorry, no facts will be posted about my actual kid.

[Anonymous]

Only in the head of UVA and UMD crazy mums living through their kid did everyone at UVA and UMD turn down a top 15 private for their public cattle call with basically nonexistent career services and pre-med assistance.

[Anonymous]

Anonymous wrote:Only in the head of UVA and UMD crazy mums living through their kid did everyone at UVA and UMD turn down a top 15 private for their public cattle call with basically nonexistent career services and pre-med assistance.

Huh? I think you are making no sense. U VA is one of many strong schools in America. It is not the only one.

[Anonymous]

Judging from enrollment at my top 5 LAC alma mater, it's much harder to get students to attend from VA than states without such good public universities such as, for example, Maryland. The college representative specifically cited the strength of UVA and W&M as the reason.

[Anonymous]

Anonymous wrote:Only in the head of UVA and UMD crazy mums living through their kid did everyone at UVA and UMD turn down a top 15 private for their public cattle call with basically nonexistent career services and pre-med assistance.

It must be amazing to have unlimited options.

[Anonymous]

Anonymous wrote:And we can afford it, but do you do everything you can afford? Obviously not.

I'm guessing that most kids from families who can afford it, even if it is a stretch, go. But most families can't afford it, so my guess is that a large % of those admitted end up going somewhere more affordable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Financially responsible families who fall in the doughnut-hole will do this. Better off going to the Honors College of a strong state U and saving the money for grad school.

Also depends so much on what your child wants to do. My best friend's son went to an Ivy and she really struggled with the decision to spend so much but his goal is to work on Wall St. so the Ivy offered a clear benefit and for that field probably is worth the investmnet. In contrast, my sister turned down U of Penn for a state U -- she wanted to be a nurse and Pen offered no aid. Hospitals don't care where you went to college as long as it's an accredited program so it would have been stupid to go into debt for a nursing degree.

There is no “donut hole” if one is financially responsible. That is kind of the point.

So speaks the poster who has no clue what the real world is like.

Pray, tell, what are the donut hole families supposed to do? Sacrifice all their retirement savings just for a fancy college? Or take on a second mortgage? There's a thing called life and it's damn expensive and that's not even figuring in college. Being financially responsible is making sure you have enough retirement savings and paying down your mortgage and providing your family with a safe and decent place to live and ensuring there's food on the table. A fancy college is strictly a privilege, not a right. And guess what, a fancy college does virtually nothing in terms of advancement compared to a good state school for a highly capable student.

Yeah, but most states, don't have a really good state school. For those not from VA, NC, Michigan, and CA, it's a hard pill to turn down a top 10 to attend your state's flagship that is ranked #50.