Reply to Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?

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Reply to "Does everyone on here with kids applying to top 50 schools really have the $80K per year to spend?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Funny you should ask this OP.

When I hit “submit payment” and a link to deduct $42,650 from our bank account last Tuesday- for ONE SEMESTER- I had the same thought. Who in their right mind really does this?[/quote]

1) those with over $20MM in the bank, 2) those with paying grandpas[/quote]

Nope.  HHI $230, have been saving since the children were little (started with $210/month for maxium tax benefit, as our income went up we did a little but more, plus bonus money, etc).  DC 1 got merit aid, so very inexpensive, will have funds leftover for grad school.  DC 2, attending am over $80k per year private, will be a stretch for us, between 529 and cash flow - there will be nothing left for grad school, they will need to pay on their own.

And, we don't go abroad for vacation, drive 10+ year old cars until they die, etc).  [b]We've made education a priority[/b]  [/quote]

So that your kids can take budget vacations and drive beater cars while making education a priority for their kids too? [/quote]

This is harsh but really worth talking about.  how is paying $80K a year for school worth it in this scenario?  Are you hoping that maybe your kid will break into the next income level and not repeat this cycle? The reality is that there is no guarantee that attending a $80k school will lead to ANY better income or standard of living than a $40k school.

it's just insanity that people like have fallen victim to the $80k trap.  it's honestly really depressing.  [/quote]

Is an 80k school better than a 40k school?  Who knows.   It is is true often but not all the time that the 80k school may provide more pathways.  The 40k school will also provide pathways.

Harvard and Iowa State are not the same.  Harvard will provide more options and pathways.  But Iowa State will provide some of that as well.

Does it matter which?  Sure.   Can either work?  Sure.  [/quote]

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