Reply to Top Colleges Are Cheaper Than You Think (Unless You’re Rich)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Sorry. Forgot to add their basic premise:

Middle-class families pay a higher price, but nothing like the list price. Only affluent families pay something close to the list price. It’s true that many of these families don’t think of themselves as affluent. But they are – part of roughly the country’s richest 10 percent, with an annual income of at least $175,000 and a net worth of a half-million dollars or more. For them, a college bill approaching $70,000 can be decidedly unpleasant, yet it doesn’t reorder their lives.[/quote]

I am not following your logic. If we earn 175K per year, after around 45K in taxes( not including health insurance, etc...) we end up with 10, 11K per month. If for 10 months we are paying 7K in college tuition and costs, [b]how does that not completely reorder our lives?[/b][/quote]

It does.  But DC;s school thinks we're rich because of our 401K and home equity, neither of which you can actually spend on tuition.[/quote]

There are so many schools in the US. You have to decide if you want to buy something on credit and if it is worth it. You can pick a school that costs less. It may have less “prestige” but that is the choice. Like choosing to buy a Honda vs a Mercedes. Buy what you can afford.

What needs to happen is for the loans to come from the universities with the graduates paying back from their future salaries - this will keep the costs down, the colleges will ensure the kids graduate w a job, etc[/quote]

And that is exactly what we did. Which makes this whole thread and article/premise completely invalid. Yes, it goes with me telling my DD that she can't go to Pomona or Johns Hopkins. With me calculating how much Hopkins would be if she lived at home and commuted an hour there and back and still being a no. The only way she could go is if we sell everything, we do not have 1M house at all, not even close, end up in debt that we can't pay off till death and live with barely meeting our needs exactly at the time in our lives when we won't be able to keep making that much money and will have more health expenses than before. Because like so many we didn't earn that much even 5 years ago. So yes, we cope the best we can, just like anyone does, just like you better believe it that single parent with minimum income with full college tuition paid in aid or scholarships, is still struggling to give his kid some money so he/she can eat and have some money to go to movies and Chipotle with friends. That is why we don't need anyone telling us what we can and can't afford.[/quote]

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