Reply to NYT opinion article "Did I choose the wrong college "

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[quote=Anonymous]we were in the similar situation this year. We chose full ride to UVA. The child got some financial aid from two Ivy colleges. We are middle-upper middle class, but we saved only for the in-state tuition for each child. To send her to Ivy with financial aid would mean either to take loans for additional $15-20k per year, or to re-mortgage our fully paid house. We went back and forward many times, discussed it with two different financial advisors, and decided to go UVA.

I know several rich families in this area (fully paid houses that costs 1,5-2.5 mil), stable jobs and still sending their children to state college. For me, as a middle class parent, it is a good indicator how rich people invest money.

Contrary, we went to both Ivies to the admitted student days, one was a two day with overnight stay. There were a lot of stressed parents who are taking huge loans, a lot of them look like immigrants/or first generation americans. My child stayed with a kid who's parents took loans and paying them while child is in the school. My kid decided that she doesn't want to put any financial stress on us when we have a free option. [/quote]

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