Reply to How many kids really decline acceptances to Top 10-15 uni's for State U?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I've always thought Big State U would be preferable for DC financial reasons.  I mean, really, $70,000 a year?  For 4 years?  For what exactly?  But I went to a Top 10-15 school (yeah it was like $20K then) and I'm having a hard time sticking to my frugal principles now that high school is approaching for DC.  And a lot of it, I'm being honest here, has to do with status and how I'll feel saying DC is going to an Ivy or whatever.  And how DC will feel.  It's a normal human reaction, everyone considers status to some degree throughout their day so don't judge people!!!  [b]But does this happen often that kids turn down the &gt; $70K school for the &lt; $30K school?  Can I ignore the siren song of the Ivy League? [/b] And yes, obviously DC may not get in but let's just say for argument's sake DC is admitted.  And because DH and I are alumni, evidently DC will have to apply early to get the alumni bump so we can't just apply to both Top 10 and BSU and see what happens.  [/quote]

If you cannot pay for it, you cannot pay for it.

My DC, a Blair magnet student, has straight As and 1580 SATs.  DC will not apply to elite schools, because we cannot pay for any of them.  We neither qualify for need-based aid, nor can pay full freight.

There are a lot of such students in the same situation.

It really is that simple.[/quote]

[b]But the problem is that with loans technically everyone can pay for it.[/b]  It's trying to figure out how much in loans a school is worth that's difficult. Is Harvard worth $300,000 in loans?  Some would say absolutely not, others would think attending the most prestigious college on the planet is worth the price. [b]It's really hard to say.[/b] [/quote]

I don't see what these statements mean.  Sure, a student's parents can take out $$$ in loans (because the student max is about $25K), but for many donut hole families, taking out $$$ in loans would put retirement and/or their other kids' education in peril.  What kind of a "choice" is that?

[b]Once upon a time, if a student could get into a school, the money would work out.[/b]  That is no longer true.[/quote]

No, it didn't.  Back in the late 80s I was a National Merit semifinalist, accepted at every school I applied to -- a mix of privates including one Ivy plus UCs.  Got some small awards from some privates but nowhere near what my parents would need to make it worth it vs in-state publics.  As I recall, my parents income was around $75K at the time, the equivalent of around $170K now.  The doughnut hole has always existed.  I went to my preferred in-state option and graduated with no loans.  Very happy I did that.  [/quote]

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