Anonymous
Post 05/05/2026 13:05     Subject: College applications -- apply to $$$$ schools or not?
We have similar stats (including $ saved for 2 kids' college) but are late-40s. We told DS that we would pull out of investments etc to pay for a top 20 school. If they get themselves into one of those, we will make it work, because honestly , we can, and so can you. But, it's not worth it below that level to me, so DS is clear on that. If he has his heart set on a T50 school that costs $90k, he will have to figure it out, because we will pay for the best in-state option or whatever will come out to about $50k/year. He understands the value of money and he agrees with that outlook.
Anonymous
Post 05/05/2026 12:43     Subject: College applications -- apply to $$$$ schools or not?
Do a net price calculator for an Ivy and see what it says. Do the same with any private your kid is interested in.

My guts says you won’t sleep well paying more than your instate option. Doesn’t matter if you can. I think emotionally that’s what you’re comfortable with. And that’s fine! Just need to be upfront with your kid. I think you’ll set your budget at $45/year. Highly unlikely you’ll get there at an Ivy but it’s possible at other privates.
Anonymous
Post 05/05/2026 12:28     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:How many kids do you have? If more than one, you'll need to work out this scenario for multiple kids. I'd say apply and see what happens. You could probably afford to cash flow some of it or fund with outside scholarships. Only you can determine if the ROI is there. There's different schools of thought on if Ivy degrees are worth it.


I'd say differently. Figure out finances ahead of time. They will not get Financial aide. Most of the T25-30 schools do NOT really offer merit (10 awards out of 2K freshman is not really offering it). So if you are not willing to be full pay, let your kid know. So they can have a great list of targets/safeties that will be in the price range you are willing to pay.


With that wealth they will need to go T100 or so to get substantial savings.


Not true. My kid got $42K/year (3 years ago) from CWRU. And had 3 other schools in the T65 that gave good merit. Could have gotten way more in the 65-100 range (but didn't need merit so didn't apply to those).
Anonymous
Post 05/04/2026 17:47     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:Somehow over the past few years, our net worth has skyrocketed. We are early-mid 50s and current net worth is about $4.35 million. This includes about $1m in home equity and $2.4m in retirement. The remaining approx $900k includes around $300k in earmarked college savings. Most of the rest is in brokerage accounts -- and is about 80% gains (so capital gain tax would be due on sale).

Our income has gone up considerably in the past few years, and is now around $280k, including dividends, W2 income and 1099. Mortgage is very low ($1k a month) but property tax is high ($20k per year) and we put about $75k a year into retirement.

Our oldest child will be applying to college in the fall. He is a very high achiever and very interested in Ivy league schools. Realizing that despite his achievements, admission to Ivies is always tough, what I'm trying to work out is whether we discourage his application to highly selective schools that do not offer merit aid where if successful we'd be expected to pay $95k per year. Clearly we won't get any needs based aid.

Everytime I run the numbers -- looking at likely growth of our funds while our kids are in college, only withdrawing 4% or less, possibly diverting money from retirement to college or cashflowing a portion -- it looks like it's doable for us to spend that kind of money, at least for one kid. But what if there is a catastrophic drop in the market? Or if I (the primary earner) lose my job?

Essentially would it be worth the investment? Potentially $400k per kid is more than we've ever spent on a house, for example, and I grew up without much money. If he instead goes to our state flagship it would be one third of the cost. Wouldn't that be a better investment? My husband thinks he should apply to the pricey colleges and then if he gets in, we decide, but I think it makes more sense to work out how much we are prepared to pay in advance.


For high achieving "donut hole" kids who have the profile for HYPSM, hire a modestly priced essay coach/college strategist to do the scholarship apps for Duke, Vanderbilt, WashU, Emory, Rice and JHU.
Full rides - lots of essays and a lot of tailoring to match what the university is looking for. You need someone who knows those scholarships. Generally given to kids who have the profile for HYPSM but have been wooed to a (slightly) lower ranked school for the full ride.
Ask on the college forum.
Good luck.
Anonymous
Post 05/04/2026 17:46     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:We did not apply to expensive privates. We are in VA and had our children apply ED to UVA or W&M. (One chose one and one chose the other.) The backup plan was out of state public bit thankfully both kids were admitted ED.

No regrets. NW is $6M+.


The question isn’t about any expensive privates, it’s about Ivies. If your kids had the achievements that would have made them a good candidate for Ivies would you have paid for them if they got in? With $6m net worth you could definitely afford it.
Anonymous
Post 05/04/2026 17:45     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:
Anonymous wrote:How many kids do you have? If more than one, you'll need to work out this scenario for multiple kids. I'd say apply and see what happens. You could probably afford to cash flow some of it or fund with outside scholarships. Only you can determine if the ROI is there. There's different schools of thought on if Ivy degrees are worth it.


I'd say differently. Figure out finances ahead of time. They will not get Financial aide. Most of the T25-30 schools do NOT really offer merit (10 awards out of 2K freshman is not really offering it). So if you are not willing to be full pay, let your kid know. So they can have a great list of targets/safeties that will be in the price range you are willing to pay.


With that wealth they will need to go T100 or so to get substantial savings.
Anonymous
Post 05/04/2026 17:43     Subject: College applications -- apply to $$$$ schools or not?
Your income is low for that cost and your market performance suggests you are heavily invested in individual stocks or maybe narrow sector funds — you surpassed the broad s&p considerably. Which reflects a higher risk, which you may be less able to tolerate at an expensive school.

How diversified are your fast appreciating accounts?
Anonymous
Post 05/04/2026 17:43     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:You have the money to send both kids to full private. Inlcuding ivy if they get in. They certainly don’t need to be chasing merit but it sounds like you’re going to ask them to? Or go public? Maybe you should step back and think about your priorities. What do you want to do with your money? Invest in your kids? Set up the next generation? You aren’t going to run out of money. Even though it sounds like you’re worried about that. If the market tanks 30%, you’re not going to need access to all of it in the next 24 months - so you’re going to do what you did in the dot com crash and 2008 - wait it out until it comes back.


They only have $150K saved for college per kid. That's in-state pricing, not sending both kids to $90K+ schools.

IMO, we would explain the finances to the kids, discuss their plans (might they want/need graduate/professional school?) and determine the right path. But whatever you do, unless you are 100% committed to 90K+ per year, make certain your kid knows that, so they can have 75-80% schools that are targets and safeties that will be around in-state pricing (or just a bit more). DOn't let your kid think they can attend Harvard if they get in if you are not really willing to pay for that. Also if that's the case, don't let them apply to 80%+ schools that are 90K/year.
Anonymous
Post 05/04/2026 17:38     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:How many kids do you have? If more than one, you'll need to work out this scenario for multiple kids. I'd say apply and see what happens. You could probably afford to cash flow some of it or fund with outside scholarships. Only you can determine if the ROI is there. There's different schools of thought on if Ivy degrees are worth it.


I'd say differently. Figure out finances ahead of time. They will not get Financial aide. Most of the T25-30 schools do NOT really offer merit (10 awards out of 2K freshman is not really offering it). So if you are not willing to be full pay, let your kid know. So they can have a great list of targets/safeties that will be in the price range you are willing to pay.
Anonymous
Post 05/04/2026 17:36     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:The additional cost of an Ivy is not $400K, it's the difference between $400K and the cheaper option. THat cheaper option might be your in state school or might be someplace that gives your kid merit aid (if your kid can get into an Ivy, he/she will get merit somewhere). What does your kid want to do? What kind of a school does he/she want? I would probably pay it and think it was worth it depending on what my kid wanted to do. For ex, if my kid wanted to be a teacher, I would encourage them to go to one of the cheapest options available and then give them money for a down payment when they are older.


Exactly!

First look at the career path your kid wants/likely will pursue. If it's lower paying/less income potential, definately go in-state or a private that gives great merit (near In state costs). However, if you want to, it does appear you can afford to fund the difference ($35K instate vs $80-90K) of $45-55K/year. You have to decide if it's worth it. Either way, let your kid know ahead of time what you are willing to spend and on what. So they can create a list of colleges that are aligned with that.

Anonymous
Post 05/04/2026 16:12     Subject: College applications -- apply to $$$$ schools or not?
Anonymous wrote:I think they use all the 900k to determine what you have available not just the 300k. I would do some net price calculators. We’re in a similar boat where our assets are higher than you would think based on our income because of an inheritance. We don’t qualify for any aid when I’ve put in info into net price calculators.

We’re thinking of just not letting our kid apply early decision to any schools so we punt the decision on what we’re willing to pay to the spring and can consider cost. Whatever we choose for our oldest, we’ll do for our youngest + account for inflation.


Just make sure your student understands that you might say no to a college they want to attend if it costs too much. It is pretty easy to get an idea of what to expect, even the merit. If something is off the table let them know before they get their heart set on it and get in.
Anonymous
Post 05/04/2026 13:23     Subject: College applications -- apply to $$$$ schools or not?
I think they use all the 900k to determine what you have available not just the 300k. I would do some net price calculators. We’re in a similar boat where our assets are higher than you would think based on our income because of an inheritance. We don’t qualify for any aid when I’ve put in info into net price calculators.

We’re thinking of just not letting our kid apply early decision to any schools so we punt the decision on what we’re willing to pay to the spring and can consider cost. Whatever we choose for our oldest, we’ll do for our youngest + account for inflation.
Anonymous
Post 05/04/2026 12:47     Subject: College applications -- apply to $$$$ schools or not?
We did not apply to expensive privates. We are in VA and had our children apply ED to UVA or W&M. (One chose one and one chose the other.) The backup plan was out of state public bit thankfully both kids were admitted ED.

No regrets. NW is $6M+.
Anonymous
Post 05/03/2026 22:19     Subject: College applications -- apply to $$$$ schools or not?
I put no limit on my kids applications or what we would pay. We are in Virginia and he ended up at UVA and ended up a Jefferson Scholar. He chose UVA because he loved the school.

same for our second, no limit. We are similarly situated financially.
Anonymous
Post 05/03/2026 18:10     Subject: College applications -- apply to $$$$ schools or not?
Whatever you do, tell your student what the metrics are and what you will pay before they apply and then do not pull the rug out from under them when they have been accepted and you then say it is too expensive.

And treat them equally, even if one gets into a better school than the other.

I have one student that will graduate from a SLAC next year and we will have paid roughly $230k after merit aid, we have another starting at a top 10 full pay in the fall. We are probably similarly situated, higher HHI, less in none retirement brokerage, 4.5 M in retirement investments, a little more in the 529s. We did not put financial constraints on them, the older one, a top student, did not get into her dream full by pay school, the younger one did. We will likely equalize how much we pay for each s education over time in terms of graduate school or other starting out assistance.

Senior year application season is fraught. Good luck.