Reply to WWYD: Weird Paying for College Situation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ok so child is loaded, parents are the kind of wealthy that describes itself as "comfortable," parents are wondering if it's cool for them to not pay for college and retire earlier.

Totally a question of OP's priorities and values, the costs of working (not just financial) and benefits (same.)

Personally I would offer to go 50/50 -- and if DC goes to public flagship, the price difference goes into their grad school/down payment/"life is uncertain you're gonna be glad to have" it fund.[/quote]

OP.

Thanks for the feedback! Something along those lines is my inclination. Think it’s good for kid to have skin in the game one way or the other.[/quote]

Agreed. Also I didn't hear you as being selfish, more... trying to get a sense of how to go about thinking about this in a world that doesn't provide much guidance. You want to do right by everyone in your family, and you're trying to be thoughtful about how to do that.

I think the asterisk to my response is to really get clear about the value your family imagines reflected in t20 vs public flagship. I'm not challenging the idea that it could be more valuable, but I would try to get clear on what kind of value, why, what's that about. Social capital? Financial ROI? Quality of experience?

And at the same time, think very concretely about retirement and how your choices reflect the same/different values.

These are great conversations to be having. [/quote]

OP here.

Thanks for the thoughtful and kind feedback. You perfectly capture the factors that we’re trying to take into account.

As for your asterisk, the value that kid puts on a few of the T20 schools is quality of experience along with a dose of FOMO (what if I miss out on opportunities by not attending?).

For our part, we simply want them to find their way to a happy and productive life and don’t care where they attend school if it helps them achieve their goals.

Appreciate the help in framing this.

[/quote]

Don’t underestimate FOMO.

My DS really liked a more inexpensive school but said that if he went there, he’d be thinking why he didn’t choose the more expensive one that he really preferred in about 2 weeks.[/quote]

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