Reply to colleges approaching $80-90k per year

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Don’t go to a college that costs $90k/year. Or $50k/year.[/quote]

Lack of empathy.[/quote]

I’m not shedding any tears for a family making $300k/year. They can easily afford any public university.[/quote]

Not about parents, kids don't have control over their finances, they just get penalized for parental finances.[/quote]

This. It's not about the parents. It's the kids.
Though your assumption that people making combined $300K have much, if any, ability to save for $90K/year tuition is laughable. But, your lack of empathy is ignorant and rude.[/quote]

At that income we could easily do it.   However the expectation is to save starting at birth.  We saved enough for a state school and graduate school.  We live in a tiny fixer upper in a lower cost area.  We trarely vacation, shop clearance, etc.  [/quote]

yes at that income, most are able to save if they truly feel the need to send their kids to an "elite" school.  You start saving at birth.  It's not a lack of empathy--it's a lack of understanding on your part that you somehow seem "entitled" to a luxury good if you haven't made the effort to save.  Your kid can still get an excellent education, and it would be smartest if they attend somewhere you can afford (ie don't go into major debt).  If you have saved even for $40-50K/year, with a 300K income, you could cash flow while they are in college if it's that important to you.  IMO, I wouldn't recommend that, I'd find somewhere that is only 40-50K and spend wisely.  If you can't afford something, you don't do it.  But making 300K puts you in the top 2-4% of the country.

We began saving for our kids education when we only made $125K and we prepared before having kids so we had paid off our own student loans and had 20% for a mortgage and bought a house we could actually afford (ie. still continue to save $$$ for retirement, vacations, future college, cars, etc).  Our kids were 5-8 before we made more than $200K, yet we were well on track for "elite" colleges should we choose to do that.

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