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

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[quote=Anonymous][quote=Anonymous]The additional cost of an Ivy is not $400K, it's the difference between $400K and the cheaper option. THat cheaper option might be your in state school or might be someplace that gives your kid merit aid (if your kid can get into an Ivy, he/she will get merit somewhere). What does your kid want to do? What kind of a school does he/she want? I would probably pay it and think it was worth it depending on what my kid wanted to do. For ex, if my kid wanted to be a teacher, I would encourage them to go to one of the cheapest options available and then give them money for a down payment when they are older.[/quote]

Exactly!

First look at the career path your kid wants/likely will pursue.  If it's lower paying/less income potential, definately go in-state or a private that gives great merit (near In state costs).  However, if you want to, it does appear you can afford to fund the difference ($35K instate vs $80-90K) of $45-55K/year.  You have to decide if it's worth it.  Either way, let your kid know ahead of time what you are willing to spend and on what.  So they can create a list of colleges that are aligned with that.

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