Reply to Middle class families - Are you willing to take on a ton of debt for a top college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]No, I would not pick columbia and the debt. I can't think of any real world benefit other than bragging rights because you think the name sounds more impressive

$280k debt can ruin your life.[/quote]

Yup.  It also means his parents can't help him for grad school.  This kid will have seriously constrained options with debt like that.  Columbia is a great school in a thousand ways, but not worth all that debt.  [/quote]

The whole setting up Jr for grad school is a stupid internet mom meme. A doctor or t14 lawyer can easily pay off their loans. A masters inc. MBA can be paid by employer.

Jr will get better job offers and into a better grad program if they have a more prestigious bachelors. That's how the world works.[/quote]

Not a stupid internet mom meme - I wrote the comment and I actually know more about student debt than you can imagine (for professional reasons).

1) you don't get to be a tier 1 lawyer with middling grades, even out of Columbia and the median earnings out of law school are well-under $100k per year.  2) Yeah, sure.  You might get your MBA paid for. But that's an MBA - most of them don't get their degrees from Harvard and you would be surprised how many are paying their own way.  3) What if your kid wants to be a pediatrician, or a bench scientist or a social worker?  People outside of your cul-de-sac take out debt to do these things and struggle to repay it.  
[/quote]

You have a LOT more options coming from the bottom half of Columbia undergrad than from the bottom half of UVA. I got a top tier i-banking analyst program and had grades well into the bottom half of my class at HYP.

As for the "save it for grad school" trope, read the grad school admissions boards sometimes. It's a lot harder to get into a top tier MBA or PhD program when you're not coming from a top 10 undergrad school.[/quote]

You went into I-banking? Did you come middle class background? [/quote]

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