Reply to College applications -- apply to $$$$ schools or not?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We opted for state school because ds is heading to grad school after and we want to save college savings for that stage. Same hhi as you but retirement savings are lower. It's been great not having to worry about the financial piece of college at all.[/quote]

This is exactly the issue. The OP doesn't know at this point what their kids are going to do after college.

We were full pay for our DS at a T20 and now DD just enrolled in a top school that is just under $100K a year. Older kid has graduated and working and will be going to grad school hopefully this year. We will pay part of it and his employer will pay the rest. Younger one wants to go to med school or PA school. We will pay for that as well. We are retired, but have investments of $15M+. Only debt is $400K on a 1.3M home. The $15M does not include the home value, but does include the $370K 529 for our younger kid. We feel very comfortable with these choices due to our financial situation. The OP is considering something similar, but they would be taking a huge risk, unless they are expecting a windfall of money (inheritance, etc.).
[/quote]

IDK about huge risk. I think it's more a question of comfort level and having a clear picture of what this means for the long run in terms of savings, potential child participation and some loans, than actual financial ruin or risk. My dh graduated from grad school with a huge amount of debt due to loans, but it's not hindered our lives in huge ways at all and it's now repaid. Would I prefer my dcs not deal with loans and start off with debt? Absolutely, which is why we're doing things the way we are.[/quote]

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