Paying for college $75K

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

I have the whole picture. No firm takes 50% of the students in a specific major at a T10 school. Very few firms only hire from T20 schools. Kids at VaTech/UMD/GMU all get jobs at FAANG. And not everyone wants to work there. Go to a "non-MIT" school in CS and you will still get an amazing job, and it might even be FAANG except you didn't go into major debt to do so. If not, you will still have a great job. Not sure why everyone is so obsessed with working at the "top firms" immediately, or ever really.

Where you go for undergrad can make a difference when you apply to graduate programs. Not saying they need to go to MIT but something to keep in mind, not everyone is done after 4 years.

And go look at MIT/CalTech/Berkley/CMU/other T25 schools and see where their PHD candidates went to undergrad. Many come from smaller, much lesser known schools. In fact, you can shine in undergrad, many advantages to being top dog at a school of 5-8K, you can do research with the profs as undergrads, they truly get to know you so can write amazing recommendations. Yes, many come from T25 schools, but only about 50%. And that is to be expected because the nature of a kid who got into a T25 school is that they are driven, hard working and almost always achieve their goals. But plenty of kids from other schools go to T25 for grad school.

You should not got to a school of 5-8k and expect that you will be able to do research with a professor. Schools that small do not have graduate students and the professors are not expected, and realistically cannot because of teaching commitments, conduct research. At R1 universities T25 or otherwise, professors are expected to have research programs.

[Anonymous]

I work at a law school and I would hazard to say that a 4.0 at some undergraduate institutions is not held in the same regard as others. But it is only one piece of a picture, not the whole thing. But it is silly to say that where you go to school doesn't matter for graduate school. It absolutely does.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

I have the whole picture. No firm takes 50% of the students in a specific major at a T10 school. Very few firms only hire from T20 schools. Kids at VaTech/UMD/GMU all get jobs at FAANG. And not everyone wants to work there. Go to a "non-MIT" school in CS and you will still get an amazing job, and it might even be FAANG except you didn't go into major debt to do so. If not, you will still have a great job. Not sure why everyone is so obsessed with working at the "top firms" immediately, or ever really.

Where you go for undergrad can make a difference when you apply to graduate programs. Not saying they need to go to MIT but something to keep in mind, not everyone is done after 4 years.

And go look at MIT/CalTech/Berkley/CMU/other T25 schools and see where their PHD candidates went to undergrad. Many come from smaller, much lesser known schools. In fact, you can shine in undergrad, many advantages to being top dog at a school of 5-8K, you can do research with the profs as undergrads, they truly get to know you so can write amazing recommendations. Yes, many come from T25 schools, but only about 50%. And that is to be expected because the nature of a kid who got into a T25 school is that they are driven, hard working and almost always achieve their goals. But plenty of kids from other schools go to T25 for grad school.

You should not got to a school of 5-8k and expect that you will be able to do research with a professor. Schools that small do not have graduate students and the professors are not expected, and realistically cannot because of teaching commitments, conduct research. At R1 universities T25 or otherwise, professors are expected to have research programs.

OMG, get out of your bubble. Plenty of 5-8K undergrad schools with grad students and Research. All 3 of my kids attended one and each had several other acceptances from similar schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The above poster doesn't have the whole picture. At some big companies hiring for lucrative positions, firms have guideposts about taking the top 50% of students at the top 10 schools, top 25 at the top 50, and take only the top of the class from the rest.

I have the whole picture. No firm takes 50% of the students in a specific major at a T10 school. Very few firms only hire from T20 schools. Kids at VaTech/UMD/GMU all get jobs at FAANG. And not everyone wants to work there. Go to a "non-MIT" school in CS and you will still get an amazing job, and it might even be FAANG except you didn't go into major debt to do so. If not, you will still have a great job. Not sure why everyone is so obsessed with working at the "top firms" immediately, or ever really.

Where you go for undergrad can make a difference when you apply to graduate programs. Not saying they need to go to MIT but something to keep in mind, not everyone is done after 4 years.

And go look at MIT/CalTech/Berkley/CMU/other T25 schools and see where their PHD candidates went to undergrad. Many come from smaller, much lesser known schools. In fact, you can shine in undergrad, many advantages to being top dog at a school of 5-8K, you can do research with the profs as undergrads, they truly get to know you so can write amazing recommendations. Yes, many come from T25 schools, but only about 50%. And that is to be expected because the nature of a kid who got into a T25 school is that they are driven, hard working and almost always achieve their goals. But plenty of kids from other schools go to T25 for grad school.

You should not got to a school of 5-8k and expect that you will be able to do research with a professor. Schools that small do not have graduate students and the professors are not expected, and realistically cannot because of teaching commitments, conduct research. At R1 universities T25 or otherwise, professors are expected to have research programs.

OMG, get out of your bubble. Plenty of 5-8K undergrad schools with grad students and Research. All 3 of my kids attended one and each had several other acceptances from similar schools.

Plenty of non-R1 universities have research opportunities. In fact, at these smaller schools, the students who want to do research get to do meaningful research, many times because there are not as many grad students involved. So the smart, highly motivated, dedicated undergrads get to use these opportunities. They are more than just grunt workers in a professor's lab---the prof actually works with them, knows them and can write glowing recommendations for their PHD program applications.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

make sure*

[Anonymous]

Anonymous wrote:I work at a law school and I would hazard to say that a 4.0 at some undergraduate institutions is not held in the same regard as others. But it is only one piece of a picture, not the whole thing. But it is silly to say that where you go to school doesn't matter for graduate school. It absolutely does.

Lawyer here. I agree. Even in government, where I've done a LOT of hiring, the execs have def expressed the desire for top institutions vs. state schools. I've always pushed back on that but lost every time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

+1 And many don't offer merit aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

[Anonymous]

😳 that is a lot of $

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

+1 And many don't offer merit aid.

+1000
Why would they? With acceptance rates in the single digits, if yield calculation is off they will pull from the WL. They simply do not need to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

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Anonymous wrote:Be smart and don’t overspend. Very few students are full pay at 70-80k a years. It’s less than 2% of students with that type of bill to pay. That is a luxury good.

You have 75k, add in 27k for Fed loans (I wouldn’t go above that with high interest private loans). Add in some more for cash flow. Maybe you can swing 40k a year.

That means go state school or only look at private schools with generous merit (they exist, there are lots that will get your cost from the 75k list price closer to 40k).

At the T25 schools, most are more than 50% pay the full weight.

At NYU & USC a lot of “full-pay” students are there on significant amounts of Parent Plus Loans.

Those people are obviously not the brightest then. No school is worth taking out PPL

If my kid got into MIT, I'm taking out parent pluses

If your kid got into MIT, then they are likely doing STEM, and where they go does not matter that much, it's what they do while they attend school and afterwards. If you have to take $200K in PPL to put them thru MIT it financially isn't worth it. Your kid can go to VAtech or UMPCP or any other number of excellent private schools with excellent stem programs that are affordable to you. MIT grads work alongside grads from other schools and make the same thing.
STEM especially, it DOES NOT matter where you go. A CS degree is a CS degree, a Mech Eng degree is a Mech Eng degree for undergrad. No company hires just from the elite universities---they hire from a wide variety of places.

That's totally false. Like someone else mentioned, where you go to college is a good indication of your intelligence, drive and work ethics. Maybe you can always get a job these days where you graduate from. But even for CS, not all jobs are equal (in terms of earning potential and otherwise). For example, OpenAI currently pays $550k+ for fresh graduates, but recruits mainly from top engineering schools (MIT, Stanford). I'm talking about money here only because people have been bragging about making a lot of money out of mid-tier colleges.

BS---plenty of "intelligent, driven and high work ethic" kids end up at lower level universities because that's what they can afford. If they have the "I, D, and WE" they will still go far. It's about this exactly, much more than "where they go" that is just the result for many because yes, you need all 3 of those to end up at a T25 school. But plenty of people with that go on to do amazing things in life without attending a T25 school.

Bad excuse. There are a few, but not a lot. Top schools are very generous in financial aid even full ride to make everyone admitted can attend.

Ummm, no that's only true if they say you need FA. If you are donut hole (like many people) or make enough to not get aid but didn't save enough, you don't get aid. And it would be stupid to take $200K in loans to make up the difference. Get out of your bubble and realize that many cannot afford $80K/year and make to much to get aid. So they go somewhere they can afford. It's more than a few that have this happen. And far more simply don't apply to the top/expensive schools because they know it's not affordable. Gotta have a list of schools you can afford

Again, those who are admitted by HYPSM but choose not to go are the exceptions, not the norm. MIT's yield rate is 86% with Harvard at 84%. There are not many declining to attend those schools, let alone for financial reasons.
So bad excuse is just bad excuse.

Those that know they cannot afford it are smart enough to not apply. They focus their efforts on good schools they can afford.

Also, Harvard takes ~50%+ via ED, so only have to yield manage the other half.

Harvard has ED? Good to know!