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Reply to "College applications -- apply to $$$$ schools or not?"
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[quote=Anonymous]If I were you OP, I would look at inexpensive public universities or schools that offer merit. You don't have enough saved to afford an Ivy and your kid will be taking on incredible debt assuming you don't qualify for aid. If your kid applies and gets into one of those elite schools, it will be even worse to have to turn it down. Focus on schools you can realistically pull off financially. Depending on what your kid wants to do, he might have to go to graduate school...even more expense. I say this as someone who paid full freight to two very expensive private universities, but we had all that money saved for each kid in the 529 on top of our $13M net worth. [/quote]
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