Reply to Is it responsible to spend 90K/yr in education?

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[quote=Anonymous][quote=Anonymous]My oldest DS was accepted to both Northwestern University (90K/yr), and University of Virginia (40K/year) in 2020, and he decided to attend Northwestern University.  The total cost of attendance is around 360K.  His cousin attended UVA in 2020 (he was also accepted by Northwestern), and both he and DS received the same job at the same company. They both studied the same major, but his cousin has 200K in savings for not going to Northwestern.  He will take my DS a long time to save up to 200K in post-tax money.

My younger DS is a HS senior, and I explained to him that if he should go to UVA, if accepted, because it would set him up much better financially for the future.  I will invest that 200K towards his retirement.  Not sure if I am doing the right thing here.  Thoughts?[/quote]

We are spending more than $90k per year for our 3rd child's education.  Child one got a scholarship out of state, child two stayed in state.  Since the money is not an issue for us, we let them each choose where they wanted to attend.

If money is an issue for your family, it would be irresponsible to spend $90k per year unnecessarily[/quote]

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