Reply to Fully Funded College

Forum Index » Money and Finances

Reply to "Fully Funded College"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI just over 550k.

We have 2 kids 12&9. Both have Virginia prepaid tuition. We also have approx 100k sitting in invest that will presumably grow. We now only contribute a very minimal $250/mo in the invest. We consider college a done deal. Any extra will be paid out of pocket. I also hope I have raised bright children that take advantage of the VA public schools. I will consider myself a failure if they dont. Only a moron who hasn't been taught basic personal finance wouldn't go the free option. George Mason and UVA did both DH and I very well. Zero debt, great jobs, excellent local network.[/quote]

On that income you can afford to pay for where ever they want to go plus graduate school.  I don't get why you have so little saved.  Yes, you can do very well at a state school, but different kids thrive at different schools.

We have the prepaid and about $80K, maybe more for our 9 year old.  We have about $180K in income.  I'm tryin for about $10K a year, usually more.  We want to pay for college and graduate school. If child wants private and we can afford it we will do that.  My goal is debt free.[/quote]

Just because we make good money doesn't mean we make stupid choices with that money, nor does that mean we teach our kids financial illiteracy.. I don't consider a full state ride "so little".

Dh and I didnt "thrive" at GMU or UVA.  We went to school, got a degree, and used our network to get good jobs. College is a means to an end. Not a social experiment, nor a place for my adult children to find themselves in the most optimum environment.
[/quote]

Do you think a stiudenr who passes up prepaid tuition at UVA or GM for Harvard, Yale, Princeton or Stanford is a moron?[/quote]

NP.  Only a teeny tiny percentage of kids go to these schools.  And yes, I think it makes smart financial sense to go to an ivy or MIT or similar school because it will pay off financially in the long run.  Plus if a child is that intelligent, I would make the sacrifice.  But for the vast majority of kids going to all the average/good schools in this country why would you go to average/good school A that puts you in major debt vs. average/good school B that you can graduate debt-free from??????[/quote]

The point is that blanket statements like “only a moron would go private over UVA or GM” don’t really mean anything because approximatley 99.9% of parents would she’ll our the cash for certain privates. Once we realize that this is not an objective issue but a subjective issue, we can also realize that perhaps it is not moronic for a parent to fund a private. For example, a deeply Catholic family may gladly pay out for Notre Dame, notwithstanding PP’s statements that you don’t go to college to find yourself.

Perhaps a student is dead set on going into the film industry. Well, Southern Cal is going to be a heckuva lot better than UVA or GM for that student.

I tend to agree with PP that the majority of students should seek to minimize undergraduate costs. I think minimizing costs should be given the most weight when making these decisions. But there are some students who will be better off at smaller schools. Others who will be better off at privates for a wide variety of reasons.  It is not universally true that it is moronic to go private over UVA or GM.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics