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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We are full pay at a $70k Ivy and $50k private - sometimes I fantasize about taking the money and buying a franchise for DC instead [/quote]

We are a high earning family and like one of the PPs are only willing to pay for in state tuition. Period.  Luckily my kids are smart and took the free option. This allowed us room to set aside money for their first home. We have 2 rental properties in FFXCO and each kid will get either the rental deeded over to them and have their first home for free, and nearly mortgage free or can take profits from the sale and for a downpayment on the home of their choice and in the location they want. The equity in those homes is substantial.

[b]I feel like a free education,  plus a huge boot up into early home ownership will pay off much more in the long ru[/b]n that an expensive name brand school that only pays off upon obtaining their first job.[/quote]

PP, you are right, these are wonderful gifts to give your child.    My parents paid for all my undergrad, and gave me $10,000 towards a down payment for our first home.  It was a fantastic step up in the world and led to a life that is much more financially secure than it otherwise would have been.

I hope to offer the same step up for my kids.  For me, a DC resident, fully funded is "able to pay for four years of full tuition at a public college, after the DC Tag discount."  We put away about $7,000 per year per kid in 529 accounts, and we are basically on target to get there.[/quote]

You can do both if you can afford it.  Its one thing if you cannot not, but to be able to and refuse is selfish.  [b]My parents paid for college, graduate school, a car in graduate (cheaper new shared cost with grandparents) and helped with a downpayment for a house.[/b]  We could choose any school we wanted or could get in.[/quote]

Your parents were generous.

The cost of college is vastly different now relative to HHI than it was 30 years ago.[/quote]

No, it wasn't and that poster was clear that they were wealthy.  When I was young, my parents drove cars given by my grandparent or cheap cars literally till they died.  We rarely went on vacation.  They went to Europe a few times without/we went to grandparents and that was it.  They lived very modestly and way under their means.  My sister went to Ivy's and they were $50k+ a year, and medial school and I went to privates as well.  Some publics are cheaper than the privates were back then.  Life is about choices.  My mom gave me some of my grandparents money for the inheritance (it was self-serving to make her look good vs. letting us inherit directly).  School costs have gone up but so have incomes, not at the same rate.

We do the same.  We heavily save, living in an small house, older cars and few vacations.  It can be done.  Why have kids if you aren't going to set them up well in life if you can afford to?[/quote]

The cost of higher education has gone up at a much higher rate than incomes, far outpacing inflation.

Your parents’ choices are not a how to manual for everyone else, no matter a person’s affluence or circumstances.[/quote]

[b]No, its good parenting to put your kids needs first and give them the best education you can[/b].  College has been costly since most of us went.  My parents were paying $40-60K a year and that was over 20 years ago.  Incomes have also gone up too. I don't get the high income brag as [b]it doesn't benefit your kids if you are only willing to do the bare minimum for them.[/b]  The point of having a high income and kids is to give them the best start to life you can.  If you choose not to and could afford it, then don't grumble about costs as that is not relevant.  [/quote]

No, its good parenting to put your kids needs first and give them the best education you can [b]while considering all relevant factors including other family financial priorities and needs.[/b]

^^^ fixed that for you

A fully-funded public school education without anyone incurring student debt is hardly "the bare minimum" by anyone's standards, except (apparently) yours.[/quote]

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