Reply to College applications -- apply to $$$$ schools or not?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How many kids do you have? If more than one, you'll need to work out this scenario for multiple kids. I'd say apply and see what happens. You could probably afford to cash flow some of it or fund with outside scholarships. Only you can determine if the ROI is there. There's different schools of thought on if Ivy degrees are worth it.[/quote]

Two kids[/quote]

Do you have $300k saved total for both kids? Or $300k per kid? If $300k for both, you're probably not in a place to cash flow an Ivy for the one kid unless you're ok with tapping into the savings in brokerage. Not sure that stretch is worth it. I would not feel bad about it though. Most people do not have $100k a year available to send their kid to an ivy league school. And that's ok. There's thousands of great schools that are more affordable.[/quote]

We have $300k total. I don’t feel bad about it at all. We are incredibly lucky.

Our investments (including retirement) have increased by $900k in the past year. We’ve seen steady growth of beyond $100k every year for years. It wouldn’t be a “stretch” exactly especially if we kept our pull from investments to 3-4% max per year.

By most scenarios we can afford it AND still see our net worth increase significantly over the next decade. (But not as much as with a cheaper option)

The unknowns include the path that our younger child will take. He’s just as academically focused as his sibling but also — right now (four years out) — says he wants a budget option. And obviously whether spending that much is worth the hit on our future net worth or the risk of a catastrophic financial downturn or job loss.[/quote]

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