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][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. 
I get that $90K is a rounding error for some on here and two weeks' salaries for others.

But I bet that for most of us, $360K is not an insignificant amount.  
And yet we're fighting each other for the privilege of paying it.

We are truly idiots for playing into this.  Excuse my insult as I include myself in that group.  [/quote]

OP, you had many chances to get there with so little money. When Netflix raised their DVD monthly rental from $7 to $11, it was time to buy Netflix stock. When Apple came out with Iphone, you still had several years to buy the stock to get to $360k. When you were shopping on Amazon, you should have been buying the stock. All in all, ca $30k in any one of them, would have taken you there.
There are so many other companies that were clearly going to do well.
I started really late like in 2020 because of work and visa problems.Almost 20 years down the drain, and I still made it. My older one doesn't want me pay that much for college and wants to go to community college. Younger one is about to get $300k, but outside of 529 ofcourse. Younger DC has 10 years til college. We were never high earners. We had to make money work for us even if we knew nothing about it. Well, almost nothing. It's extremely good time to be in the market and/or enter the market now to forever. Not a financial advice.[/quote]

First of all, not everyone is a savvy investor. And I'll go further than not many people know much about investing at all. So good for you? But you're expected a tremendous amount of financial know-all for most people. I grew up pretty poor and I can tell you I didn't have any sort of "investing" until I was nearly 30. Partly due to my debt (school) to income ratio and partly due to just not knowing.

Second, you imply that people should give up any sort of luxury, however small, to fund college. And I fundamentally disagree with that. Colleges are overpriced. Loans are predatory. And yet, despite what we say about "you can do well at any college" there aer many that will only hire from ivies, top tiers, etc. I saw that first hand in my own line of work. So people have valid reasons to want those schools. [/quote]

Where did you work that would only hire from "ivies, top tiers, etc"?   Because there really are not many areas that are like that.  People do NOT have valid reasons to want those schools.  There are literally only ~50-60K freshman matriculating at T25 schools each year.  Yet millions of people are happy, succesful in their careers.  Do the math, majority of them did not attend T25 schools.[/quote]

At my aged agency- my incoming class I had 6 Ivy alum and me and two others with state university degrees.  We all came in sane grade/step and all make the same 25 years later.[/quote]

Do they still hire mostly from Ivies/T25 currently?  Were those 6 Ivy alums hired because they had actual connections at your aged agency or just because they were Ivy Alums?  Because it's very likely many Ivy alums have parent/family connections already and might have gotten that same job even if they went to State U

[b]Ironically, you proved the point that you all make the same are at the same grade now, so really it doesn't matter where you went---quality workers come from any college.[/b]  [/quote]

That was my point!!  They hire from everywhere.  In my field, most have a graduate degree.[/quote]

Except your example implied your odds were far greater to get the job from the start if you went to an Ivy League school.

No company pays their hires different salaries for the exact same job.[/quote]

How do you calculate the odds fairly? Is it the school or is it the high performing student? Ivies just have a greater concentration of the latter.

I work for a major F500 consulting firm and in a high performing group within the firm. Most people on here would know my employer. At beginning of summer was the annual email welcoming all the summer interns for the group. Most were from flagship state universities and the rest from various private colleges. Ivies did not dominate. Nowhere close to it. Yes, this is anecdotal and it's just one firm, but people really, greatly overestimate and exaggerate the advantages of going to an Ivy.

-- double Ivy alum who figured this out long time ago. [/quote]

Look at the size of the classes at different schools. Any Ivy representation each year means that they do have better odds. [/quote]
dp.. but really smart kids from big flagships can get into the same internships as the few students from ivy league schools.  I think the point is that a really smart student can go to a flagship at a fraction of the cost of an Ivy league, and do equally as well.

It really depends on the kid, not necessarily the school.[/quote]

Pick your sought after employer in any field. Are they hiring 8 times as many Ohio State graduates as Harvard graduates each year? [/quote]
Actually, what you major in matters more.

An English major from Harvard probably won't be making as much just after graduation as a CS major from U Mich.  But even then, a CS major from Harvard would be making the same as a U Mich CS major both working at a FAANG. They don't pay you by the college you went to.[/quote]

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