Reply to What is a "donut hole family"?

Forum Index » College and University Discussion

Reply to "What is a "donut hole family"?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Nobody in their right mind thinks college cost increases over the past 25 years are not exorbitant.

and congress wants to put a cap on nurses pay, come on let's put some regulations around college costs.[/quote]

I don’t disagree with you, at all. But [b]I still don’t believe there’s any such thing as a donut hole family. [/b][/quote]

You are right.  There is no such thing as a donut hole family.  There are only families who refuse to liquidate their retirement funds, forgo their annual week at the beach, sell or remortgage their family homes, work until they are 80.  These people are selfish and stingy when they choose not to pay $320K per child and rising for their kids' undergraduate degrees, because if they only tried a little harder, they could pull it off.  Cheapskates.[/quote]

Are you so blind to reality that you don't realize there are options between $320k/kid and "your kids can't go to college"?  If you can't try a little harder to save, then try a little harder to master a cost/benefit analysis.  [b]If your vacation is an annual week at the beach, then expensive private schools are not for you![/b]  Send Larlo to Whatever State Tech and stop feeling sorry for yourself.[/quote]

Isn't this the problem? Expensive schools are for the wealthy....??? wtf?? Can you not see a problem with what you typed?[/quote]

And luxury cars and luxury homes are for the wealthy and private K-12 are for the wealthy.  Life is about choices.

Ultimately, only a extremely small percentage of kids can even attend/get accepted at an "elite university" as there are not that many available seats.  So it's not an option to get accepted for 99.9999% of students anyhow. Yet, nobody is saying you can't get an education.  There are affordable options.  Focus on what you can afford and search for merit and find the best fit for your kid---that includes affordability.

Most of life is about choices and for the majority of us, we can't afford the luxury choices anywhere in life.  [/quote]

4-year state universities are becoming a luxury too unfortunately, but there will always be community college at least.[/quote]

Most 4 year state universities are ~$30K per year (maybe $35K).  With what min wage is in MD/VA, a kid can earn $10K per year (between PT during school and working most of their breaks/summer). Take $5.5K federal loans.  That leaves $15-20K for family to fund. 
If you don't have that saved, then you do CC for 2 years and/or you do duel enrollment in HS and get your AA for virtually free.  Then you transfer to state U.  Or you search out private schools at 2nd/3rd tier to what your kid's stats are and get merit of 75-100% of tuition---it's out there, you just have to search and be willing to attend somewhere with a 40-50% acceptance rate (or higher) and your kid at the 85-90% for the school.  Plenty of options.  
But if you have saved even $70-80K for each kid, you can "afford" instate schools or a private with merit. 
Sure, it may not be a T50 school, but many seem to forget the ultimate goal is to get an EDUCATION.   And that is done at all universities.  [b]Where you go is not important, it's what you do while there.  [/b]
Let your kid shine at a school where they are at/above 90% and can get an affordable education.  It's a great gift to only have $20-25K in student loans when you graduate.  Those can be paid back easily for almost any major in 5-7 years (and quicker in many STEM majors).  
[/quote]

Can you explain the life time earnings discrepancy between T10 graduates and kids graduating from regional universities? Maybe where you go does matter [/quote]

The "kids graduating from regional universities" who had the stats for T20 schools are not that different from the kids graduating at T20 schools.  They have the drive/motivation and typically do excel wherever they go.

[/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