Reply to I went to a Top School and I think state schools are the way to go

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The cost of college is out of control. There are only two types of students that can afford the top private schools that don't give merit aid- super rich and students that will receive lots of financial aid(free money- not loans)[/quote]

Or students who have parents that are affluent and willing to save for their college.  If one is willing and able to save for a $60k a year school and starts doing it when kids are young, you don't have to be super rich.  Though I guess you might define super rich differently than I do.[/quote]

You'd have to save $1000 per month per kid since birth to fully fund a 60K per year school. Sorry, but if you can do that, plus mortgage, insurances, car payments, child care, extracirruculars, and living expenses (even if you are modest in your spending habits), then you are pretty darn rich.[/quote]

I don't think so - we put in far far less than that, and have the first year of college paid for for our 6 year old and 8 year old (unfortunately, school will be even MORE expensive by then).  Thanks to compounding interest, a little bit saved early goes a long way, and is also a tax benefit in 529's.  I learned about compounding interest in my mediocre public high school, not my Top 3 Ivy League college.[/quote]

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