Reply to "Fully fund" college... how much?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As someone who has worked a long time in admissions for a top 10 grad program, I’ve learned that private undergrad gives no advantage to kids looking to go to grad school. Maybe it does for kids in certain fields who don’t plan on grad school, but otherwise it was a completely wasted expense. [/quote]

I don’t think anyone thinks private gives you a leg up when it comes to grad school. Kids don’t attend private for that reason Lolol![/quote]

Then why do they do it? It’s not uncommon for kids to apply to our grad program with six figures of undergraduate debt from a private school when a state school would have gotten them to the same spot for half. If you are rich I guess it’s fine but these kids aren’t. [/quote]

I’m on A2C and I’ve literally never seen a kid say they are going to private because they think it will help them with grad school. Kids who are going to top private schools are often laser focused students.

My son is going to Duke next month. Why? Because he visited the school and absolutely loved it and got in. He also got in Uchicago, but hates the campus and location. He’s planning on majoring in math. Grad school hasn’t even crossed his mind. He did not get into UVA, and graduated the top of his class. Go figure got into Duke, Uchicago, and Michigan, but not UVA.

No he will not graduate with debt. [/quote]

You are rich and the cost difference is nothing to you. That doesn't mean its a greater value. [/quote]

I am a Duke grad. The education was excellent. I paid for it entirely on my own via athletic scholarship. My poor single mother was not a student but wanted me to aim high. Not sure I liked the school socially - but the academics were excellent - all that really matters. Not sure what is communicated to students today. My honors adviser repeatedly informed me that learning is all about sustaining ego damage - no quest for safe spaces. No safe spaces in athletics either and found an adjustment in the world was not as ruthless as my athletic life. I can see why your son wants to go to Duke. I used to think while riding the East West campus bus that I was the luckiest guy in the world despite coming from poverty. Of all of the top universities in the country, Duke has at the same time the most remarkable and troubling history. Washington Duke was a prisoner of war and walked home to Durham so as not to spend the 5 dollar coin Lincoln have to POW’s. That coin started the tobacco business. Stanford certainly was notorious in his financing of the Central Pacific, but the Dukes have a remarkable and imperfect history.

I paid for two Princeton educations for my two kids. About 70 percent saved - the other 30 percent out of operating funds, including cars for them, travel and clothes. They worked for their own money and held up their end of the bargain. Contrary to the statement above, we are not rich but reasonably well off. I have been investing since age 22, and just don’t like debt and leading a modest life gave us a lot of freedom in terms of college. Buying only a house we could afford with a 15 year mortgage - no fancy cars - these things make a huge difference. I disagree with Dave Ramsey on a majority of topics, including his religious bent, but one thing he is right about is to avoid debt. Not everyone can do it but not having any debt for 15 years just gives me an entirely different outlook on life. By the way not sure Princeton was a good value but wanted to pay it forward after being the first to go to college and kept a long term promise to the kids that they could go wherever they wanted.  This mattered to me greatly. Retirement is in decent shape but want more before I retire - although could do so now. 
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To the Duke grad: I don’t think you can say you paid for college “entirely only [your] own with athletics scholarships.”  Sure, being a college athlete is work, but if school was covered by scholarships, the words “paid” and “entirely on [your] own” don’t apply. [/quote]

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