Reply to two kids in college - what is prestige worth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
First, it's a bit laughable to make assumptions on where the second child will end up.

Second, if you can afford it, go with what makes the most sense for the desired major. Often it's the better-known schools, but occasionally it's not.

Third, and this is where you get into the weeds - what exactly does it mean to you, to afford it? What do you plan to put towards retirement, nursing homes and health issues later in life, not to mention leisure and travel? [/quote]

No need to laugh.  I'm making zero assumptions about where second kid will end up -- other than another 4 year private college. The only reason I specified having two at Georgetown is that some schools are more generous if second is also at same school.  But, per Georgetown, even if second is there, they don't care. If second goes to a 4 year public, 2 year public, military academy or skips college altogether .. prices will be cheaper.  But I need to make some assumptions about attending college. [/quote]

Then you're not going about it the right way, OP. Prices are all over the place, and you cannot predict who gets what merit aid. If you want to prepare for the worst, you need to think $90K a year for the second kid.

Or do what everyone else does, which is apply to in-state schools, and private colleges, and hope that private colleges give you merit aid. With a system this broken, you cannot make any predictions.

I have a senior going to George Washington on 20K award guaranteed 5 years (still comes to 65K a year), but I make no assumptions for my next kid, so I'm budgeting for future sticker price 5 years from now (90K? 100K?who the heck knows!).

[/quote]

Congrats to your kid! Pretty impressive, you guys should be proud. Is it a 5 year degree program or is the kid just able to stay for 5 years with the merit scholarship applied?[/quote]

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