Reply to As schools near $100K/year when will that affect the pool of students?

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[quote=Anonymous][quote=Anonymous]I remember in an earlier conversation here suggesting that it was odd that kids attending 60K private high schools aspired to work for the foreign service, as it didn't seem like a great "return on investment."  I was told that only members of the proletariat such as myself cared about things like return on investment or how much money you would make at the end of the day.  apparently if you're independently wealthy, you work for pleasure and not for a salary or something.  I wonder how that idea plays into these conversations about university tuition as well. Do the people who close their eyes and write a check for 100K per child per year for college simply not care about return on investment, starting salary, etc?  It seems that most of us members of the proletariat who do those calculations end up deciding it only makes sense to pay for private in a select number of majors, select number of schools.  Are the private second and third tier schools exclusively full of full pay wealthy people who don't care about return on investment because they don't ever plan to work?  Seems like a strange long run plan for a university to bank on no one ever needing a job at the end.[/quote]

Private 2nd/3rd tier schools typically offer good merit for top students.  So most are not paying $80K/year.  My own kid (25 ACT/3.5UW) went to a T80 school and received 35% merit for 4 years.  Never paid more than 42K in a year.  They could have attended a T120 school for only $30K/year with over 65% merit (higher because they were at/+ 90% at this school instead of ~50%)  Merit is out there.  College does NOT have to cost 80K/year.  You can attend private schools for $30-40K or less (heck if my kid with good stats but not stellar can get that, imagine what someone with 1500/4.0UW/10-12 APs would get).  My higher stats kid got 60% merit at a T50 school bringing costs from 80K to 40K and brought $65K down to 35K at another T60 school.  Merit is out there, it's really not that difficult to find if you want/need it.

and if we really needed money, my avg student could have attended the in-state U for ~$24K, the top kiddo for $15K after merit.  T120 in state school---join honors college, get a great education and graduate basically debt free.  In our state, my kid could earn most of that $15K themselves just working summer and breaks.

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