Reply to WWYD: Weird Paying for College Situation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I sort of had a similar situation. I was accepted into some fancy private schools but I had a full ride to UVA (I actually made money with scholarships). My parents said they’d give me 10k (this was 20 years ago) and a brand new car if I chose the flagship. I chose UVA and had an incredible college experience. I was able to use my inheritance from my grandpa on grad school.

Free is free and money is fungible. I would choose the free option again. I had a very nice down payment on my forever home at 27 due to it. Besides that, I loved the big school experience. It fit me very well. [/quote]

OP is in almost the exact opposite situation: their kid, knowing it’s his own money, seemingly wants to conserve it; the point of paying would be to induce the kid to choose a less-preferred, more expensive university. [/quote]

OP.

Not quite: kid prefers a few T20 privates over state flagship, but is reluctant to spend the $$$ (flagship likely free).

We (parents) have no preference—just want kid to be happy.

This is one of the interesting aspects of the situation: kid has a preference but has tentatively concluded that the preference is not worth the price (if kid is paying).

So is it worth it if we’re paying?

That’s why we’re leaning towards sharing the cost.

[/quote]

If your kid thinks it's not worth it, it's probably not worth it.

My parents are Ivy grads.  I didn't want to go to their school and I was liberal arts undecided as a high school student.  I chose to go to a flagship.

My sibling went Ivy.  We both got grad degrees from a flagship. Our salaries are now very even at mid-life despite different professions.

Therefore, I feel that my decision to go to a less highly-ranked school didn't affect my earning power at all.[/quote]

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