Anonymous
Post 07/10/2022 10:16     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
You haven’t looked at Ivy finances. As others have said, if your HHI is enough that if you don’t get any tuition assistance, then you can afford to top up whatever is left after you use the 529. If your HHI is low enough, you won’t be paying full freight.
Anonymous
Post 07/10/2022 10:10     Subject: Re:If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
How can you expect us to answer this question without telling us your overall financial picture? How much is in the 529s, and what’s your general HHI, asset and debt picture? Would you have to stretch to send her to the Ivy or do you have plenty of funds and a stingy DH?

I would certainly stretch to send my kid to most ivies, but would also look at other T25 type schools that she could get recruited to/pay for. One of my kids played a sport at Stanford, and his network and connections through both his sport and friendships with kids playing other sports is incredible. Lots of very wealthy kids playing sports at these schools.
Anonymous
Post 07/10/2022 07:07     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:
Anonymous wrote:Are we talking Harvard or Cornell here. I would pick UVA over the latter

If HHI is below $150K it is probably cheaper to attend Cornell.


Depend on assets also right, even the primary home
Anonymous
Post 07/10/2022 06:56     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:Depends which Ivy.

Harvard, Yale, Princeton - YES (also non-Ivy like Stanford, MIT, Cal tech)

Brown, Cornell, Dartmouth - NO

Columbia/Penn - Maybe, depends of state school (and major)


Not categorically true. Depends on the public university, career goals/aspirations, your social circle
and where your child wants to live.
For some big law firms (and Supreme Court circuit clerks/judge) Ivy undergrad/Ivy Law school makes a difference. I imagine this is true for some finance/investment fields too. I worked in banking/financial sector and the Ivy grads (all schools) were fast tracked.

My thought is if it’s a $20-$30K difference, and a school my child really wants to attend, then I would go for it if you have the cashflow and can keep loans within reason.
Anonymous
Post 07/10/2022 06:36     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
If your kid is lucky enough to get into a lottery school (that's what our family refers to those schools as), you figure out how to pay for it. The friends your child will make, the future connections, will be well worth it.
Anonymous
Post 07/10/2022 06:36     Subject: Re:If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:
Anonymous wrote:It's fine for everyone to say the DH is an idiot, but how many kids do they have? What are their other expenses? Are they paying private school tuition for other students in the family currently? Etc. Yes, it's great to go to an Ivy, but not at the expense of other things or other people in the family.

Also, if you don't have that much debt because you live frugally (not because you're wealthy), drive old cars, live in a modest house that's paid off or has a small mortgage, yet make slightly over whatever they consider the threshhold, you are not getting much, if anything, from an Ivy, and your "expected family contribution" is way more than in-state tuition. I don't remember if they consider what you're paying for other kids' tuition or not. As far as FAFSA, you're getting the opportunity to borrow around $5K and nothing else. I'm not saying it's "not worth it," but it's ridiculous to say that it's compostable or less that in-state tuition in most cases.


Not true. There was a $3K difference between VTech FA and the Ivy my DC will attend (not tippy top stats kid but unique and stood out).
Anonymous
Post 07/10/2022 06:31     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:
Anonymous wrote:Are we talking Harvard or Cornell here. I would pick UVA over the latter

If HHI is below $150K it is probably cheaper to attend Cornell.


Yep, would be cheaper at this HHI. I can confirm this is true in our experience but would not be true if you are getting a lot of merit aid. I would admit Cornell vs UVA was a tough choice but we have a lot of connections in NY and given my DC’s math ability, I think big money consulting and investment banking is a possible path between law school/graduate school.
Anonymous
Post 07/10/2022 06:06     Subject: Re:If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Yes I would. Also ivies give a lot more aid than other schools (especially for athletic recruits) and do different calculations so you might be surprised and get aid. Congrats to your DD!
Anonymous
Post 07/10/2022 06:01     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
This is no brainer-Ivy. Do not pass up this opportunity. The ONLY way this is ever a consideration is if Stanford is in mix or kid is good enough to go professional—then Texas, Michigan, Florida, etc. might be better choice than Ivy but either is such a tiny population. In general (couple exceptions) the level of play at those state schools is much higher than Ivy.
Anonymous
Post 07/10/2022 00:52     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Playing a collegiate sport looks great for finance. I’d do that. If money really is such an issue if umd I’d go to Ivy regardless. If uva id do uva over Cornell and maybe Dartmouth but go to the others if those are options.
Anonymous
Post 07/09/2022 23:58     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
If she is good enough to attract Ivies, she is very likely to get a partial scholarship at a T25 school, with her 529 and scholarship, you'll have to spend less and she can play her sport, attend a good school and avoid debt.
Anonymous
Post 07/09/2022 23:52     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:Depends which Ivy.

Harvard, Yale, Princeton - YES (also non-Ivy like Stanford, MIT, Cal tech)

Brown, Cornell, Dartmouth - NO

Columbia/Penn - Maybe, depends of state school (and major)


To be recruited by Stanford in almost any sport you have to be top shop
Anonymous
Post 07/09/2022 23:44     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:My kid just turned down an Ivy for a school ranked at bottom of top 25. Will let you know how it all turns out!


Cornell?
Anonymous
Post 07/09/2022 23:42     Subject: If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:Depends which Ivy.

Harvard, Yale, Princeton - YES (also non-Ivy like Stanford, MIT, Cal tech)

Brown, Cornell, Dartmouth - NO

Columbia/Penn - Maybe, depends of state school (and major)


For finance, YES to Columbia - over Princeton, Yale, Stanford, MIT, Caltech...
Anonymous
Post 07/09/2022 22:43     Subject: Re:If your kid got into an Ivy as an athletic recruit would you suck up the cost and send them?
Anonymous wrote:
Anonymous wrote:It's fine for everyone to say the DH is an idiot, but how many kids do they have? What are their other expenses? Are they paying private school tuition for other students in the family currently? Etc. Yes, it's great to go to an Ivy, but not at the expense of other things or other people in the family.

Also, if you don't have that much debt because you live frugally (not because you're wealthy), drive old cars, live in a modest house that's paid off or has a small mortgage, yet make slightly over whatever they consider the threshhold, you are not getting much, if anything, from an Ivy, and your "expected family contribution" is way more than in-state tuition. I don't remember if they consider what you're paying for other kids' tuition or not. As far as FAFSA, you're getting the opportunity to borrow around $5K and nothing else. I'm not saying it's "not worth it," but it's ridiculous to say that it's compostable or less that in-state tuition in most cases.

comparable*