Reply to Sorry DCUM middle class, your kids are screwed for college

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, we’ve been complaining about that here for years.  That’s why our high stat, heavy EC, volunteer kids mostly end up taking a scholarship to Big State U.  Our kids are too privileged for a hand up and not privileged enough for a handout.  No one cares about them. 
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I feel like you may have missed the spirit of that word "volunteer" on account of maybe being kind of a selfish and terrible person?

I'm in the same donut hole for salary you are--only worse, actually, because I bet we have less cash. I value education enough to take out loans to send my kid to the best possible school they can attend. We applied to state schools, but I'm not convinced they're the best option. And certainly not the default because I'm whining about how poor I am... when I'm not. [/quote]

Ah, but that’s the elephant in the room.

It’s the equivalent of a second mortgage to debt finance a T20 school.

If you think it’s worth it, I support you, it’s your money. Same if you don’t want to do it. Your kid, your decision.

What we see from a lot of parents here is well actually, no, if I have to borrow it myself then these schools aren’t the magic bullet to success and aren’t worth spending their own money.

“But I don’t have it!” Yes you do, you can borrow all of it with no collateral. Then pay it over time. There are zero other times in life a bank will give you basically unlimited capital just based on a handshake and a smile.

If you can afford $35k a year for state school you can pay $80k a year if you space it out over ten years, look at that it’s $32k a year plus some interest. Same amount, roughly speaking.

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