Is there a tipping point , full pay?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you are full pay, Would you pay full price for
Emory
BC
UMiami
Villanova
GWU
….going down the rankings list, LMU?
Is there a cutoff for private colleges? Where you tell your kid to just take merit elsewhere, or go in state? What is your cutoff, or are you full pay so you will full pay anyplace ?

(If you are not full pay, and need FA, instate, or merit, please don’t respond, your considerations are different)

We don't "need" in-state, can afford full pay, but our cutoff is "the school must be significantly better than Virginia Tech if we're going to pay more than VT in-state". Emory might fit the bill (which doesn't matter because DS does not want to go to Emory) but none of the others. Especially GWU, lol hell no.

"Significantly" is doing a lot of work there. Objectively, many people would argue that any of these schools are better than Virginia Tech.
But, sure, if my kid gets into VT and also gets into Ole Miss or similar -- then he's going to VT, no question.

Well yeah, a school has to be significantly better if we're going to pay significantly more for it. Maybe people think BC and Villanova are better than VT in terms of prestige/name recognition but I'm not sure the education at either place is $200,000 better. GWU, definitely not. Miami, doesn't matter because my kid hates heat and humidity.

[Anonymous]

we have about 300k in each 529 and can cash flow whatever.

Certainly they'll take advantage and move 35k to a ROTH. And we'd like to have about 100k for grad school on top of that. So they each have about 165 for undergrad plus what we will cash flow. WE're hoping to keep COA of undergrad to about 250k so won't pay for full fare unless it was something like MIT

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

I'm asking because I don't know. Lots of regional schools only lead to regional jobs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you are full pay, Would you pay full price for
Emory
BC
UMiami
Villanova
GWU
….going down the rankings list, LMU?
Is there a cutoff for private colleges? Where you tell your kid to just take merit elsewhere, or go in state? What is your cutoff, or are you full pay so you will full pay anyplace ?

(If you are not full pay, and need FA, instate, or merit, please don’t respond, your considerations are different)

We don't "need" in-state, can afford full pay, but our cutoff is "the school must be significantly better than Virginia Tech if we're going to pay more than VT in-state". Emory might fit the bill (which doesn't matter because DS does not want to go to Emory) but none of the others. Especially GWU, lol hell no.

"Significantly" is doing a lot of work there. Objectively, many people would argue that any of these schools are better than Virginia Tech.
But, sure, if my kid gets into VT and also gets into Ole Miss or similar -- then he's going to VT, no question.

Well yeah, a school has to be significantly better if we're going to pay significantly more for it. Maybe people think BC and Villanova are better than VT in terms of prestige/name recognition but I'm not sure the education at either place is $200,000 better. GWU, definitely not. Miami, doesn't matter because my kid hates heat and humidity.

and you're entitled to your opinion

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

I'm asking because I don't know. Lots of regional schools only lead to regional jobs.

If you are in finance/wall street, you’d know that it is not a regional school

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think that it's crazy to pay 400K for anything outside of the top 10 schools and it would be beneficial for everyone to think of college as more of a math problem now. We can afford to pay for our kids to go anywhere but 1 wants to get a Ph.D. eventually so they will look at schools where they have a chance to do research and where they get some merit aid and we can help pay for grad school.
2nd kid wants to be a nurse practitioner. I don't think it's worth 400K for an undergrad nursing degree, do you?



I recognize that there are circumstances where an individual kid needs to be in a specific environment but otherwise the price tag is just too high.

What if you’ve got plenty of money (think north of $25m)….

Kids educations are fully funded in 529s…
Then which of these would you pay for:

Wake
Tulane
Boulder
Indiana
Michigan
Wash U
Emory

Any of them. At some point...and you are at it (and honestly, so am I)...the marginal cost difference between the schools is basically nothing to you.

It's like Gordon Gekko said in Wall Street..."I sold that building for an $800,000 profit and it was all the money in the world at the time...now it's a day's pay"

The most highly ranked school in area/field of study that is the best fit for kid.

This

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

I'm asking because I don't know. Lots of regional schools only lead to regional jobs.

Here's what I would consider a pretty good answer on a Q&A forum with respect to Miami:

"UM Alumni here. Almost EVERY top tier bank/firm is in Brickell/Miami and they all are flooded with UM students and alumni. If you get good grades and are personable, you can easily find UM alumni to network with and get you in the door at the top tier banks.

As for recruiting, only bank that actively recruits on campus is Citi. They take about 20 UM students each year and and funnel them into the Private bank and Treasury and Trade solutions groups since the Global head of HR at Citi went to UM. Alliance Bernstein, PWC, Blackstone are also a few other firms that recruit on campus.

Not much of an investment banking presence but a very strong Weath/Investment Management and private banking scene. Also big Real estate scene.

As many people know, there is a huge Finance/tech scene flocking to Miami and UM is poised to benefit."

[Anonymous]

I live in NYC and lately I hear a lot of talk shifting from paying for college to paying for an apartment. if you're making 25mm, this doesn't apply to you. but people who are donut hole are thinking they'd take Wisconsin, say, over BC and use 200k saved for a hefty payment on a 1 bedroom. otherwise, it's just too hard to get on a path to home ownership here. it also lowers expenses those first 5 years out of college when it can be hard to make it on your salary alone.

anyway, I'm hearing this a lot now.

if your kid wants to live in some other lower COL place, maybe this doesn't matter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

I'm asking because I don't know. Lots of regional schools only lead to regional jobs.

U Miami is not a "regional" school, whatever definition you want to put on it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd pay it for any school if the kid loved it and it felt like a good fit for them.

+1 But I’d be a little bitter if it was UMiami.

My UMiami full pay kid did great, went on to a T7 MBA program and is well-employed.

Undergrad is really fairly irrelevant for getting an MBA. You are leaving out where your kid was employed after Miami and pre-MBA...that is more important and relevant.

They were well-enough employed directly from U Miami to get accepted to the MBA. That's the point.

I am curious if Florida schools mainly lead to Florida jobs. Or was the point of the MBA so that the kid could get a job somewhere other than Florida?

what? Kid went from U Miami to Manhattan. None of my kid's Miami friends got jobs in Florida.

I'm asking because I don't know. Lots of regional schools only lead to regional jobs.

U Miami is not a "regional" school, whatever definition you want to put on it.

Agree. I bet it’s some clueless parent who has not even gone through the process yet.

[Anonymous]

Anonymous wrote:I live in NYC and lately I hear a lot of talk shifting from paying for college to paying for an apartment. if you're making 25mm, this doesn't apply to you. but people who are donut hole are thinking they'd take Wisconsin, say, over BC and use 200k saved for a hefty payment on a 1 bedroom. otherwise, it's just too hard to get on a path to home ownership here. it also lowers expenses those first 5 years out of college when it can be hard to make it on your salary alone.

anyway, I'm hearing this a lot now.

if your kid wants to live in some other lower COL place, maybe this doesn't matter.

I don't disagree but I thought OP's question made clear it was for people who don't need to make these choices. It's for those who can well handle full pay tuition and plan to help out with a hefty home downpayment.

[Anonymous]

Anonymous wrote:I dont think anything beyond the top 5 are worth 400k.

I totally get the complaints of 30 year olds who say they will never be able to break into the housing market.

But .. I'm a lot less sympathetic if those same 30yo had basically a downpayment-and-a-half given to them at 18 and they spent it all on college.

If you have 5 million, fine. But for those of us who are full pay but not rich-rich, we need to have bigger conversations.

If we were talking about cars and not colleges, we'd all call you out on buying your kid a BMW "because it's what felt right to them". But because we've wrapped this other luxury product (college) in more esoteric clothes, we let it slide.

Again, if you're super rich, this doesn't apply to you. Buy the BMW (every year for 4 years). But if you think you may have a kid who will be 35 and locked out of home ownership, I'd make a more considered decision.

The problem with this is that most parents...I might say the vast majority...feel like giving their kid a college education with $0 debt is gift enough.

They are not giving their kid the difference between in-state vs. full pay private to purchase a home or any other purchase.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think that it's crazy to pay 400K for anything outside of the top 10 schools and it would be beneficial for everyone to think of college as more of a math problem now. We can afford to pay for our kids to go anywhere but 1 wants to get a Ph.D. eventually so they will look at schools where they have a chance to do research and where they get some merit aid and we can help pay for grad school.
2nd kid wants to be a nurse practitioner. I don't think it's worth 400K for an undergrad nursing degree, do you?



I recognize that there are circumstances where an individual kid needs to be in a specific environment but otherwise the price tag is just too high.

What if you’ve got plenty of money (think north of $25m)….

Kids educations are fully funded in 529s…
Then which of these would you pay for:

Wake
Tulane
Boulder
Indiana
Michigan
Wash U
Emory

Any of them. At some point...and you are at it (and honestly, so am I)...the marginal cost difference between the schools is basically nothing to you.

It's like Gordon Gekko said in Wall Street..."I sold that building for an $800,000 profit and it was all the money in the world at the time...now it's a day's pay"

The most highly ranked school in area/field of study that is the best fit for kid.

This

The most highly ranked school in area/field of study that is the best fit for kid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you are full pay, Would you pay full price for
Emory
BC
UMiami
Villanova
GWU
….going down the rankings list, LMU?
Is there a cutoff for private colleges? Where you tell your kid to just take merit elsewhere, or go in state? What is your cutoff, or are you full pay so you will full pay anyplace ?

(If you are not full pay, and need FA, instate, or merit, please don’t respond, your considerations are different)

We don't "need" in-state, can afford full pay, but our cutoff is "the school must be significantly better than Virginia Tech if we're going to pay more than VT in-state". Emory might fit the bill (which doesn't matter because DS does not want to go to Emory) but none of the others. Especially GWU, lol hell no.

"Significantly" is doing a lot of work there. Objectively, many people would argue that any of these schools are better than Virginia Tech.
But, sure, if my kid gets into VT and also gets into Ole Miss or similar -- then he's going to VT, no question.

Well yeah, a school has to be significantly better if we're going to pay significantly more for it. Maybe people think BC and Villanova are better than VT in terms of prestige/name recognition but I'm not sure the education at either place is $200,000 better. GWU, definitely not. Miami, doesn't matter because my kid hates heat and humidity.

Depends on the major and career field. If the kid wants to study finance and work in NYC, BC/Villanova seem better bets than, say, VT.