Reply to Sorry DCUM middle class, your kids are screwed for college

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, we’ve been complaining about that here for years.  That’s why our high stat, heavy EC, volunteer kids mostly end up taking a scholarship to Big State U.  Our kids are too privileged for a hand up and not privileged enough for a handout.  No one cares about them. 
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I feel like you may have missed the spirit of that word "volunteer" on account of maybe being kind of a selfish and terrible person?

I'm in the same donut hole for salary you are--only worse, actually, because I bet we have less cash. I value education enough to take out loans to send my kid to the best possible school they can attend. We applied to state schools, but I'm not convinced they're the best option. And certainly not the default because I'm whining about how poor I am... when I'm not. [/quote]

Ah, but that’s the elephant in the room.

It is not only money it is ignoring a big chunk group of students because of parent income. I understand every thig else being equal giving a chance to other group. But the problem is preventing a lot of hard working kids from top colleges would not be good in the future.

It’s the equivalent of a second mortgage to debt finance a T20 school.

If you think it’s worth it, I support you, it’s your money. Same if you don’t want to do it. Your kid, your decision.

What we see from a lot of parents here is well actually, no, if I have to borrow it myself then these schools aren’t the magic bullet to success and aren’t worth spending their own money.

“But I don’t have it!” Yes you do, you can borrow all of it with no collateral. Then pay it over time. There are zero other times in life a bank will give you basically unlimited capital just based on a handshake and a smile.

If you can afford $35k a year for state school you can pay $80k a year if you space it out over ten years, look at that it’s $32k a year plus some interest. Same amount, roughly speaking.

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Maybe if you have an only child.  The more kids you have, the harder that scenario is.  We are talking at current rates (which will rise each year) : $720k for 2 kids at a 4-year private university; 1,080,00 million for 3 kids and so on...[/quote]

Yet there are literally hundreds of excellent schools you will be able to afford.  Nobody is entitled to an elite education or any education for free.  I agree---if you were not able to save $85+K/year for your kid to attend or cannot easily cash flow, then the school is NOT worth it.  
Just like I don't pay $80K for a BMW if I truly cannot afford it---I buy the Honda for $40K and know that I got a great car, safe car, one that will take me places in life. 
There are many things in life that I want that I cannot afford, so I don't get them.  College is no different. 
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