Reply to What's the Cutoff For Schools That Are Worth the Money?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If your kid is going to pursue a lucrative career in finance or tech, then paying up for prestige often makes sense. If not, then financially, it is hard to justify. Anyone pinching their own financial security (for example borrowing money you really don’t have) should think twice or three times about paying more than they have to for anything but elite degrees. Screwing up your retirement for Colby doesn’t make sense. That said, if you do have money, think of it as a luxury good, not just an investment. Like a vacation to Paris instead of Florida. In the scheme of luxury goods, I think a wonderful college experience is more valuable than a fancy car, for example. There are intangible benefits to the experience which could translate into financial benefits. For example, your English major daughter is more likely to find a future investment banker to marry at some schools versus others (for better or worse). But people who cannot afford luxury goods shouldn’t buy them. [/quote]

I felt like so many of the posters in this thread live in such a bubble and are just so narrow minded about the reasons parents might choose to invest more than others to send their kids to college. I like this post, though. Makes perfect sense.[/quote]

You are free to invest all you want, but don't complain when you want to retire and don't have enough saved.  It should never come at the cost of retirement savings.  "people who cannot afford luxury goods shouldn't buy them" is best way to put it[/quote]

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