Reply to Question: those who send their kids to slac or oos schools..

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[quote=Anonymous][quote=Anonymous]As a full pay parent of a kid at a SLAC, I will say that the cost really sucks and comes at significant consequence to our family, such as [b]significantly reducing retirement savings,[/b] deferring needed home repairs, driving a 13 year old car that desperately needs to be replaced, limiting travel to visit my and our ability to care for them in the future, reducing and limiting extra-curricular activities for our other kids, limiting our college savings for our other kids, and significantly limiting our ability to financially help our college kid in the future.  In other words, it really sucks.

We made this decision because our college kid smart and intellectually curious, but really struggled socially and emotionally in high school.  I can tell you as a couple who went to ivy league schools, my kid's education is superior in almost every way (better rigor, interaction with faculty, course availability, course advising, student team work, etc.) to our experience.  [/quote]

Every financial planner out there will tell you that you should never ever forgo or reduce retirement savings to send a kid to college.  Ever.  You can take out loans for education, but not for retirement.

My kid is also smart and intellectually curious (1600 SAT, 4.8 weighted GPA), and is at a Tier 2 school with significant merit scholarship (but not financial) aid.  We are unwilling to reduce retirement savings in order to send DC to a more prestigious school, and in any case there will not be any appreciable difference in either the experience, or the outcome.[/quote]

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