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[quote=Anonymous][quote=Anonymous]
DC was accepted to a T10, her dream school, but we ended up with little financial aid. We would have to pay about 60k per year. DC can go to UMD CP for at least a third of that and will likely have other lower cost options  at less competitive schools. DC is in the arts but otherwise undecided. She may pursue arts or museum work down the line.

We are in our early fifties with relatively low retirement savings (300k). We have a down payment saved up for a house (about 250k). No other debt or money. We live in the DC area. We rent a small house.

HHI is now about 200k, in public service careers. It took us a while to get to this level.  No inheritances or major increases in salary expected.

She is our only.  We want to set her up as well as possible, especially since she is leaning towards a soft major. We want her to have the benefits of a strong degree down the line. We are struggling with whether to pay for the T10. We don’t want her taking on the debt. But we know retirement needs to be our priority. 
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In my opinion, send your daughter to Brown if she seems like a practical, thrifty person and she’ll agree to try to double major in economics and do some business- or law-oriented activities and internships.

It would be a lot of fun to have a daughter at Brown.

You might have a hard time even getting a mortgage for a home in the DMV area, because who’s going to make a loan to a first-time homebuyer who’s near retirement age, anyway?

Chances you already spend about $25,000 per year or more on food and activities for your daughter. That could go to Brown.

If you’re already spending a lot on your daughter, you can probably scrape up another $10,000 from current income without too much problem.

Your daughter should be able to earn and borrow $15,000 per year without much problem.

So, maybe you can cut the hit to savings at about $30,000 per year, or even $20,000 per year, without too much stress.

And your daughter is an attractive, inflation-resistant, geopolitical-risk-resistant asset. She could easily earn about $3 million over 40 years in 2024 dollars without any huge success, and she could earn $6 million or more over her career if things go well.

Why invest in a stupid house or investments denominated in currency issued by a country with $30 trillion in debt when you could invest in a great daughter?

And why worry about $30,000 in federal student loans when she’s likely to earn at least $3 million?

Of course, the retirement advisors on TV will tell you to put your retirement first. That’s because most are paid based on your product purchases or your asset totals, not your daughter’s success.

The comparison would be different if the private school was a place like Emory or Cornell or the state school was UVa.

UMd. academics might be just as good for a great kid as Brown’s.

But life will be a lot more comfortable at Brown, and the networking opportunities will be a lot better. The gap between Brown and UMd. is simply bigger than the gap between UVa. and most private schools. 
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