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[quote=Anonymous][quote=Anonymous]My Ivy alma mater is now $74,000 a year. As a reference when I graduated in 2002 it was just about $34,000. Today, four years at my alma mater, assuming no increases, would be just shy of $300,000. But I'm still years away from paying college bills so who knows what it will be in six years' time (it almost makes me sick to think about it as college costs still increase well beyond the rate of inflation and most people's pay increases). There's a certain arrogance in your assumption that people can easily save $300,000 x # of kids over 18 years, when they still have to live a life, raise a family, pay for a place to live, feed themselves, pay their taxes, pay for emergencies, and put aside money into retirement savings. I'm guessing you're one of those people who started his first job in investment banking and has always been making six figures since he was 22, or something similar, and you have no clue that for most people the trajectory to a higher HHI is one that requires patience and time and progression through the career ladder, with even setbacks along the way.

We manage to save quite a lot by being frugal but it does seem like no matter how hard you try the costs of life outpaces what you can manage to save so your hypothetical savings you calculate at the onset of the year rarely come to fruition. We are fortunate that we can save what we can, and we will, barring any unforeseen emergencies or changes in life, be able to swing the college costs.[b] But I am already starting to ask if it's worth it. If it's a choice between my alma mater and in state at a good flagship or another college with a big merit, I'm tempted to encourage the kids to go that route and use the differential to help buy them a house or even to pay for graduate school[/b], which is increasingly more important than your BA these days. Or even just put the differential into a fund and tell them they can't touch it until they turn 70. To be honest, I'm increasingly bitter at the high college costs because there's absolutely no way they're justified nor does it make any sense whatsoever. [/quote]

Any Ivy League school seems inappropriate given your finances and the significant financial cost to your family.  $70k a year colleges are pretty much a luxury good at this point.  There are plenty of way more affordable state schools.

Also, you went to an Ivy and doesn’t seem like you make a lot of money.  Point is that your child’s success isn’t going to be limited by not paying $70k per year for an Ivy League school.

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