Reply to Paying for college $75K

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Please don't do that. 3X $75k invested  and your child will never have to work again after 35. They'd rather have that and a state school degree than working til retirement.[/quote]
A lot of 18 yr olds cannot understand the impact of $150K student loans.

I ran the numbers with my DC and showed them how long it would take to repay the $150K assuming a $140k job.  They don't understand how taxes work; they see $140K, and think big money, but then you show them how much they will deduct in taxes, and they realize just how much their take home really is.  Then you show them the repayment schedule, and how that will impact their ability to save to buy a house.

Run the real numbers with your kids.[/quote]

A lot of kids understand it, but they also look at starting and mid career salaries at various universities and compare them. Somewhere like Emory may be much more expensive, but their grads are earning a lot more than Radford grads at every stage of their careers [/quote]
They understand it conceptually, but not in reality.  Most grads even from a lot of top tier colleges aren't making more than $150K their first few years out of school.

The average salary of an undergrad from Emory doesn't break $100k.

https://www.collegesimply.com/colleges/georgia/emory-university/salaries/

An undergrad degree in CS from UMD will make slightly more on average than an Emory grad in CS -- $81K vs $79k, respectively

https://www.collegesimply.com/colleges/maryland/university-of-maryland-college-park/salaries/

A CS degree will cost around $130K at UMD vs $300K.

That is a bad ROI.  No smart person would choose Emory in that situation.[/quote]

Yes, a CS degree at a flagship is a great ROI. That same degree at Radford makes 56k[/quote]

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