Reply to Does it benefit a doctor's child who's destined to become an MD to pay $$$ for Hopkins or Wash U?

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Reply to "Does it benefit a doctor's child who's destined to become an MD to pay $$$ for Hopkins or Wash U?"

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[quote=Anonymous][quote=Anonymous]In-laws, wife works part-time, husband is an MD. A super genuine and good family. They are upper middle class but I don't know if they're "rich." He's a first generation MD.

Their kids are great students and obsessed with becoming doctors like dad. It's obvious they are one of those families that somehow grooms their kids to become doctors. The oldest is a senior and has a free 100% full scholarship on the table to a regional hometown private college where they live (not DMV). Mom shared the other few colleges the oldest is applying to are Wash U, Hopkins, and Vanderbilt.

I'm just wondering the analysis $75K x 4 = $300K for undergrad vs. literally $0? I safely assume the teen will have a far better chance at a near 4.0 GPA at the regional college. That said, of course the competitiveness, experiences, and the all new friend group (and potential spouse, if we're being frank) you meet at a place like Wash U has value, too – but how much (extra) value?[/quote]

The analysis is wrong.  If they are middle class - they are not paying $75K for Wash U.

Per US News:  "The average need-based scholarship or grant awarded to first-year students at Washington University in St. Louis was $54,138."
Wash U is skewed wealthy - so if they really are upper middle class, I would expect that student would receive somewhere in the $50K package of aid.  
I am not dismissing the estimated $25K for Wash U vs free.  But the cost of $100K (and I assume they have saved something for college) vs $300K is materially different[/quote]

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