OP please report back when you have a child who completed the college admissions and financial/merit aid cycle.

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

So, money is not a factor for you, but it is for most people.

I know that. But many people claim they won’t pay for a private university unless their child makes a certain amount of money to make it “worth it”. Even if they have the means to pay for it. My point is there are many reasons people choose private universities not just how much their child will earn.

And I agree, the many millions a year salary poster is lying and that’s not helpful

Just because you can afford something doesn't mean it's a smart buy. If your child needs smaller class sizes and individualized attention, or that expensive private has some degree program that's amazing, it totally makes sense, but just to pick an expensive college just because makes no sense.

"A fool and his money are easily parted".

If you have money, then your kid doesn't have to worry about getting a good paying job, and instead can focus on their passion. But, what will their grandchildren do when the family money runs out? Unless you are super wealthy with a trust fund that will last several generations, at some point, your descendants won't be able to freely pick an expensive college to pursue their passions.

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

So, money is not a factor for you, but it is for most people.

I know that. But many people claim they won’t pay for a private university unless their child makes a certain amount of money to make it “worth it”. Even if they have the means to pay for it. My point is there are many reasons people choose private universities not just how much their child will earn.

And I agree, the many millions a year salary poster is lying and that’s not helpful

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

So, money is not a factor for you, but it is for most people.

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Are you stupid?

Did you not learn math in school?

I am also very confused by this question. I'm middle class from upstate NY as well, and also went to an elite college on financial aid, but the majority of my classmates went to either SUNY schools or community college, and that was all about money.

My spouse and I, despite our Ivy League grad degrees, make a pretty average income and won't be able to pay out of pocket for private school for our kids at today's prices, but also don't expect much financial aid. They will have to either go in state, somewhere with tuition reciprocaty with one of our employers, or get great merit scholarships.

This is such an incredibly common middle class decision. I don't get why OP is so confused.

OP here. We grew up in different neighborhoods in the same state. Most people who lived in my town were lawyers, doctors, bankers, hedge fund managers, etc. I grew up in an UMC neighborhood in NY and now live in a similar UMC suburb of DC. There are less financial professionals. Our neighborhood has more tech and business owner types in addition to some politicians.

Anonymous wrote:OP is quite the tone deaf dunce.

+1
Has to be a troll.

Anonymous wrote:People in private equity need to keep their mouths shut about other people’s decision making and realize that their little bubble is meaningless for thinking about the real world.

Yes indeed!

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Are you stupid?

Did you not learn math in school?

I am also very confused by this question. I'm middle class from upstate NY as well, and also went to an elite college on financial aid, but the majority of my classmates went to either SUNY schools or community college, and that was all about money.

My spouse and I, despite our Ivy League grad degrees, make a pretty average income and won't be able to pay out of pocket for private school for our kids at today's prices, but also don't expect much financial aid. They will have to either go in state, somewhere with tuition reciprocaty with one of our employers, or get great merit scholarships.

This is such an incredibly common middle class decision. I don't get why OP is so confused.

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Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Agree. I think that some people did not have the experiences that you and I had, so they are afraid of having to pay back school loans, OP. And absolutely yes, money is why anyone I know who has their kids attend publics, attend publics. Which is fine for them, we are grateful for more options.

I am not trying to offend anyone. I come from a humble background. My parents did not and could not pay for my education. It just seems strange to me that these UMC people who are much better off financially than my parents would have their kids attend a lesser school for money. I may never understand.

The issue is bang for the buck. A school that costs $360k has to be “superior enough” to justify the cost relative to a much cheaper state school.

People also anticipate having to pay for grad school.

Why is this hard for you to understand?

My husband makes several million dollars per year. Taking on 200k debt like we did to get an elite education doesn’t sound bad to me. I had full confidence to earn and pay back my loans.

First of all, bull$hit he does.

If you are paying for "an elite education" just as a luxury expenditure that your kids don't really need (which would be true if your DH actually made "several million a year", which he does not because you are lying) that's great for you. However, sane people who can afford "an elite school" still need to take into account the cost-benefit equation of doing so. What is the career intent, will grad school be required, and will a state flagship satisfy the needs of both.

The cost-benefit equation is not always financial. Our oldest did not go to a private university just to graduate and make money. Her goals were based on her strengths which were the arts and not academic. We paid the high tuition rates because it was the best choice for her.

Anonymous wrote:My parents did not pay for my college or grad school. I never considered any public universities in state or out of state. I am from NY. I applied to schools I was interested in, got financial aid and graduated grad school with loans and paid it off pretty quickly. I worked in investment banking and private equity in NYC so it was fast.

I’m surprised at how many people choose state schools in VA and MD.

Are students that afraid of debt?

All these families are better off financially than my family was when I was going to college. The cost of college was not a factor for me. I just knew I would pay it back.

Are you stupid?

Did you not learn math in school?

Anonymous wrote:OP you need to tour UCLA, Berkekey, UVA sbd Michigan and then cone back and tell us they are "lesser". Much has changed since you went to college

These are not “lesser” schools. California residents are lucky they have such high quality public universities. But not much has changed with regard to Ivy Leagues and other well known private universities still being the best and most sought after for those who can afford it.

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Anonymous wrote:You understand that tuition rates have grown astronomically faster than wages since you were in college, right?

Of course I understand. We can easily afford to pay tuition. However, even if we couldn’t, I would encourage my children to apply and attend the best college possible.

I know many kids going to UVA and W&M could have gone to “better” schools. I’m sure this is more from public high schools, not private. If you are already paying 50k for high school tuition, paying 80k for college tuition probably would not be a factor in deciding where to go to college.

1. If you couldn't afford to pay, then why would you encourage your children to apply and attend the "best college possible"?

2. Your statement about a person paying $50K being able to pay $80K (and rising)(It's actually $90K now, generally) makes assumptions and is erroneous.

3. Yes, people pick publics and privates with merit aid over "better" brand-name schools because of money.

Dh and I want to HYP grad schools. I earned high six figures and Dh now earns seven figures. I don’t think it would have been possible without our education.

Sounds like cognitive bias. We can’t really know how our education helped since we could only take one path instead of testing two.

+1 I'm sure there are public college grads who are also earning six/seven figures.

High school graduates are the ones more likely to earn 7 figure salaries. Onlyfans, Youtubers, TikTok, Instagram influencers, Selling on social media. These are the new entrepreneurs.

OP is quite the tone deaf dunce.

Anonymous wrote:While I haven’t done a survey of my friends back in NYC, I’m fairly certain none of them are considering publics, just the way I didn’t. The parents attended elite colleges as will their children.

The dc privates seem more similar to what I would expect for kids to attend T20 colleges and SLACs. They seem to have less kids attending state colleges.

There are a lot of private school kids from NYC and Connecticut at UVA, the sorority and fraternities are flush with them

Anonymous wrote:OP you need to tour UCLA, Berkekey, UVA sbd Michigan and then cone back and tell us they are "lesser". Much has changed since you went to college

And think this is the problem -- the OP keeps thinking about SUNYs. The schools above are just SO MUCH better. I'm from NY state, and all the SUNYs are a little depressing.

OP, have you met people who grew up in CA or Michigan? The sorts of people you know from NY who went to small liberal arts colleges went public in these states, and the people who went to top 10 schools from NY were in the honors program at the flagship in these states.