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Reply to "S/O What is our obligation as parents regarding college $$$?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So let me ask this question that seems to be at a heart of a lot of this exchange: Why do some people think that a state school is somehow inherently not as good as a more expensive school? What is the barometer that you are using?[/quote] I think some people think that more expensive is always better, or think that private is always more prestigious. I'd be totally fine with my kid attending a good state school, especially if it was because it was legit a better fit because of location, programs, etc. [/quote] I don't necessarily think that state schools are somehow not as good as a private school, and don't know anyone that does, either. I will give you an example, however. My niece got into UChicago for Economics, and GMU for Economics, with a full, free ride. She chose UChicago - her parents paid something like 250K for 4 years? Out of school, she got a job paying 6 figures, and about 3 years later, she's making about what her parents spent on her entire education. So yeah, that was a good investment, and I don't think any reasonable person would think that she would be where she is, without that education. [/quote] I absolutely think she'd have the same salary or close to it if she had gone to GMU for free and graduated at the top of her class. Also, if she had these 2 options, she definitely had a few middle options too that were less money than Chicago but more prestige than GMU. That's likely where I would have sent my child. [/quote] She probably wouldn't, but only because the companies that recruited her when she was in college do not recruit from more than a handful of top-tier schools (she was also an international student, so there were additional complications). She did have middle tier options, but none offered significant $, so it didn't make sense to her (or her parents, I guess) to pay a substantial amount of money for a school with fewer recruitment options. FWIW, I was in the GMU camp when she was going through the decision making process, but have come around to the idea that she did in fact make the right choice for the wall street career path she has chosen (my understanding is that Mason Economics specifically is of a libertarian bent, and better suited for think tank/lobbying/NGO). Same young lady will likely go on to do her MBA, but only if she makes it to a top tier grad school once again. Wharton, maybe Harvard. That's pretty much it. And this time, she'll pay for it herself.[/quote]
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