Reply to As schools near $100K/year when will that affect the pool of students?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I really don’t know how most middle to lower upper middle class people can afford colleges these days.  Do most people take out loans these days? I saved about 100k in our 529 plan. That will not last for more than two years if DC#1 goes to a private. [/quote]

Yes, most people take loans and most people choose lower cost public colleges.

FWIW, with merit aid my DDs private college will be $120k for 4 years. [/quote]

+1000

If you only have $100K saved for college and cannot cash flow more (which you likely cannot do), you go to your state schools, you search merit (both in private and state schools) and find a place you can afford.  You have $25K/year to spend, add in your kid earning $10K and you cash flowing $5-8K (reasonable for someone who has saved $100K).  So you have ~$40K/year.  There are hundreds of schools your kid can attend for that---especially if they are higher stats.  Smart people find schools they can afford and go there.

FYI--my 25 ACT/3.5UW/No AP kid attended a school in the T100 for only $40K/year.  had two other offers at private schools for similar costs and one ranked T130 that would have cost only $30K.  So NOT high stats (80-85% overall) and found many privates that gave good merit and we were not even searching merit. [/quote]

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