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[quote=Anonymous]While most Ivies are not hospitable to granting credit for AP and college/community college courses taken while in high school, some other highly ranked privates DO acknowledge those efforts (my kid got both AP & community college credit at Northwestern). With some careful planning it is quite possible to attain enough credits via such means to graduate in 3 years as opposed to 4.

So you’re thinking “that only cuts my savings shortfall by 25%.” But let’s do the math.

Suppose kiddo wants to go to a private that’s $80k per year. And you have only saved enough for $40k per year. You have $160k to pay for $320k in expenses. That puts you $160k in the hole.

BUT, if kiddo accrued enough credits thru AP & college/community college classes to graduate in 3 years, the finances look like this:
Expenses: $240k
Amount saved: $160k
Shortfall: $80k

So the magic of math indicates that graduating in 75% of the time can cut YOUR SHORTFALL IN HALF…because not only do you not have to pay for that 4th year, the $ you had earmarked for that 4th year can now be applied to the first 3 years.

PLUS, since kiddo is out a year earlier, you can add his/her first year’s wages to the savings.

(Obviously this approach is better or worse depending on the % of the 4-year expenses your savings would cover.)[/quote]

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