Economically what matters is that college gives you opportunities to have a good career. So the least amount I could spend on college while getting the maximum benefit in terms of a career and opportunities the better.

Anonymous wrote:To your question about whether a SLAC or other school is worth it… my son was WL at his in-state safety school, but was offered merit aid at an out-of-state public school, so that’s where he’s going. While with merit it’s only slightly more expensive than the in-state school, we are very happy with what their outreach so far, particularly in terms of internships and other opportunities that offer more “small group” or individualized learning. It’s not this giant void that I imagined it would be — just the opposite. They have made a concerted effort to make a large university feel like a small one.

PP, would you please name the out of state public that is doing such a good job?

Anonymous wrote:

Anonymous wrote:Do you have the same concerns for private elementary and high schools?

OP here. I did, so my kids are in a good public school system (with services and accommodations for one of them). I rationalized that during that time our portfolio would expand so that we could then afford any college, and this is indeed what happened. But now that our oldest is about to apply, I now have cold feet!

I guess what I'm trying to determine is if my oldest, with learning disabilities, can power through a large, more affordable university. And if so, it would be great. But I'm worried that he'll be lost and not do well.


This thread is helping me think this through. Thanks, DCUM brain

Trust your gut. It is really sink or swim at the large public universities.

[/quote] Wait, are we still talking about Notre Dame? [/quote]

Maybe we should still be talking about Notre Dame. According to this Georgetown study, the 40-year, present value ROI of a Notre Dame degree is 1.6 million, while UVA is 1.3 million. https://cew.georgetown.edu/cew-reports/collegeroi/
This should not be a surprise to anyone who has come across Notre Dame’s uber loyal alumni network. As for the quality of the undergraduate experience, well, kids love Notre Dame — and since your kid seems to be amongst the self-selecting group who have applied (and been admitted), he or she would almost definitely have enjoyed Notre Dame way more than UVA. But, hey, it’s only four years of your child’s life...

Let's not forget about alumni networks. Yes, we paid full freight for our kid to attend a non-ivy top 20. Worth every penny. He is gainfully employed, on his own living in a large metro area, and climbing the corporate ladder. His college connections helped him propel on his career path. You won't get that at the same level with most state schools.

We will pay for the degree and the college name that get our dc a food high paying job, that the same degree from a state college won’t get.

We do not care for the college brand because we our non-White and non URM immigrants. We will be hired because of our knowledge and skills.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I made more than enough money (just under 7 figures at my peak) to pay for any college whatsoever for each of my kids, but there was no way in hell I was going to pay for private school unless I was paying top tier. It's just not worth it.

You'll find a lot of posters on this board with money who will say that they'll happily pay for second tier schools that nobody's ever heard of -- including those silly "CTCL" schools. I think they're all nuts.

+1 Luckily DC had the grades for top schools and significant merit at others so we never had to cross the bridge to having such a conversation.

Exactly. I had two kids go to UVA in state and a third turn down William & Mary for Grinnell and other schools only because the kid got half tuition merit. That's how you do it. These people throwing money away on second tier are crazy.

So Grinnell is second tier?

Certainly not 😂

??

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I made more than enough money (just under 7 figures at my peak) to pay for any college whatsoever for each of my kids, but there was no way in hell I was going to pay for private school unless I was paying top tier. It's just not worth it.

You'll find a lot of posters on this board with money who will say that they'll happily pay for second tier schools that nobody's ever heard of -- including those silly "CTCL" schools. I think they're all nuts.

+1 Luckily DC had the grades for top schools and significant merit at others so we never had to cross the bridge to having such a conversation.

Exactly. I had two kids go to UVA in state and a third turn down William & Mary for Grinnell and other schools only because the kid got half tuition merit. That's how you do it. These people throwing money away on second tier are crazy.

So Grinnell is second tier?

Certainly not 😂

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I made more than enough money (just under 7 figures at my peak) to pay for any college whatsoever for each of my kids, but there was no way in hell I was going to pay for private school unless I was paying top tier. It's just not worth it.

You'll find a lot of posters on this board with money who will say that they'll happily pay for second tier schools that nobody's ever heard of -- including those silly "CTCL" schools. I think they're all nuts.

+1 Luckily DC had the grades for top schools and significant merit at others so we never had to cross the bridge to having such a conversation.

Exactly. I had two kids go to UVA in state and a third turn down William & Mary for Grinnell and other schools only because the kid got half tuition merit. That's how you do it. These people throwing money away on second tier are crazy.

So Grinnell is second tier?

Anonymous wrote:I made more than enough money (just under 7 figures at my peak) to pay for any college whatsoever for each of my kids, but there was no way in hell I was going to pay for private school unless I was paying top tier. It's just not worth it.

You'll find a lot of posters on this board with money who will say that they'll happily pay for second tier schools that nobody's ever heard of -- including those silly "CTCL" schools. I think they're all nuts.

you're back!

OP, if I were in your shoes, I would probably explain to DCs that state schools were the only unless they were able to receive merit at a LAC, knocking it down to the cost of the state school. In most of those instances, the LAC will not be in the top 5-10 unless your DCs' CV is out of this world AND the school has a special scholarship for such (see Davidson).

If you have a DC that will thrive best at a LAC, then I would go that route if you receive enough merit. Ignore the CTCL basher. There are plenty of kids who attend these schools and end up with great jobs and lives.

Also, while I am sure it is hard, I grew up working class. There were no assets and there never were any assets. I am sure this must be a challenge, yet you are fortunate that cashing in is even an option. I paid off my loans, but savings/retirement accounts really took a hit during those years. A number of my friends have it a lot harder than me.

Anonymous wrote:

Anonymous wrote:For us, we have the money, so I don’t care what it costs. (Since that what you asked). I want my child to go where they are comfortable. That’s it.

I would argue that if you have to sell assets then you can’t “afford” any college. That’s having to choose between your assets and college. I don’t think it’s worth 50,000 more a year, but I will pay it because I have it. You’re in a different situation.

Same. And I’d add that “return on investment” is not a factor in our calculations. I don’t expect my child to make a certain salary to justify what I pay for their college. To the extent that I consider “ROI” it would be their happiness and fulfillment, not something quantifiable.

All of that said, I’d be thrilled if my kids chose state universities. If they were torn between two schools and there were a big cost differential, cost would certainly be part of the equation in their decision-making, especially since they know that whatever is left in their 529s after undergrad can be used for grad school.

Same. ROI is not a factor. My kid's happiness is what's important.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I won’t pay a lot for clothes or cars or alcohol or beauty treatments or jewelry or fine dining any of that stuff but yeah, I will pay tuition at whatever college my kid wants to go to. My kid goes to an $80k school, my pants are from Old Navy. Makes me happy. YMMV.

+1000

DOn't understand the "I'll pay for an ivy or Stanford/MIT but after that, I'm not paying $80K". If you can afford to pay, why would you not want your kid to attend the best college of THEIR choice?

And if you would need to take loans for the IVY/S/M I don't call that affording it. I'd ask, why would you take $40-50K/year just for that. Ivies are great school, but really not that much better (or even better at all) than many of the other T50 schools. For me it's more about major and fit. But I wouldn't go into debt for any school if I had other choices I could afford (but it's a mute point as I have saved and can/am sending my kids to full pay expensive schools)

Because paying 80k "after that" is just plain stupid, that's why, and most 18 year olds aren't sophisticated enough financially to realize that. So you have to step in. Why is it that folks don't think twice about denying a kid anything but a college education on the ground that the thing they want just isn't worth the money.

We had one kid get into UVA and Notre Dame. Yes, we could have afforded Notre Dame, but we can afford lots of things that we don't buy. Are we really just expected to pay double for Notre Dame just because our kid wants us to? Sorry, no.

We value education. So yes, I'd happily pay if that's where my kid wants to attend. You obviously are not required to do that. But I'd rather spend on a college education than a fancy car or vacation

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I won’t pay a lot for clothes or cars or alcohol or beauty treatments or jewelry or fine dining any of that stuff but yeah, I will pay tuition at whatever college my kid wants to go to. My kid goes to an $80k school, my pants are from Old Navy. Makes me happy. YMMV.

+1000

DOn't understand the "I'll pay for an ivy or Stanford/MIT but after that, I'm not paying $80K". If you can afford to pay, why would you not want your kid to attend the best college of THEIR choice?

And if you would need to take loans for the IVY/S/M I don't call that affording it. I'd ask, why would you take $40-50K/year just for that. Ivies are great school, but really not that much better (or even better at all) than many of the other T50 schools. For me it's more about major and fit. But I wouldn't go into debt for any school if I had other choices I could afford (but it's a mute point as I have saved and can/am sending my kids to full pay expensive schools)

Because paying 80k "after that" is just plain stupid, that's why, and most 18 year olds aren't sophisticated enough financially to realize that. So you have to step in. Why is it that folks don't think twice about denying a kid anything but a college education on the ground that the thing they want just isn't worth the money.

We had one kid get into UVA and Notre Dame. Yes, we could have afforded Notre Dame, but we can afford lots of things that we don't buy. Are we really just expected to pay double for Notre Dame just because our kid wants us to? Sorry, no.

So what kind of cars do you drive?

And how much is your house worth?

Primary residence is worth $1.8 million. Second home is worth $900k.

Why do you need that second home? What a waste.

LOL nice try. We're not throwing money away on it. We didn't pay more for it than it was worth, and it's an appreciating asset. Unlike some BS no-name second tier overpriced private college.

Wait, are we still talking about Notre Dame?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I won’t pay a lot for clothes or cars or alcohol or beauty treatments or jewelry or fine dining any of that stuff but yeah, I will pay tuition at whatever college my kid wants to go to. My kid goes to an $80k school, my pants are from Old Navy. Makes me happy. YMMV.

+1000

DOn't understand the "I'll pay for an ivy or Stanford/MIT but after that, I'm not paying $80K". If you can afford to pay, why would you not want your kid to attend the best college of THEIR choice?

And if you would need to take loans for the IVY/S/M I don't call that affording it. I'd ask, why would you take $40-50K/year just for that. Ivies are great school, but really not that much better (or even better at all) than many of the other T50 schools. For me it's more about major and fit. But I wouldn't go into debt for any school if I had other choices I could afford (but it's a mute point as I have saved and can/am sending my kids to full pay expensive schools)

Because paying 80k "after that" is just plain stupid, that's why, and most 18 year olds aren't sophisticated enough financially to realize that. So you have to step in. Why is it that folks don't think twice about denying a kid anything but a college education on the ground that the thing they want just isn't worth the money.

We had one kid get into UVA and Notre Dame. Yes, we could have afforded Notre Dame, but we can afford lots of things that we don't buy. Are we really just expected to pay double for Notre Dame just because our kid wants us to? Sorry, no.

So what kind of cars do you drive?

And how much is your house worth?

Primary residence is worth $1.8 million. Second home is worth $900k.

Why do you need that second home? What a waste.

LOL nice try. We're not throwing money away on it. We didn't pay more for it than it was worth, and it's an appreciating asset. Unlike some BS no-name second tier overpriced private college.

I wouldn’t count on that. The second home market is falling and about to take a real beating.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I won’t pay a lot for clothes or cars or alcohol or beauty treatments or jewelry or fine dining any of that stuff but yeah, I will pay tuition at whatever college my kid wants to go to. My kid goes to an $80k school, my pants are from Old Navy. Makes me happy. YMMV.

+1000

DOn't understand the "I'll pay for an ivy or Stanford/MIT but after that, I'm not paying $80K". If you can afford to pay, why would you not want your kid to attend the best college of THEIR choice?

And if you would need to take loans for the IVY/S/M I don't call that affording it. I'd ask, why would you take $40-50K/year just for that. Ivies are great school, but really not that much better (or even better at all) than many of the other T50 schools. For me it's more about major and fit. But I wouldn't go into debt for any school if I had other choices I could afford (but it's a mute point as I have saved and can/am sending my kids to full pay expensive schools)

Because paying 80k "after that" is just plain stupid, that's why, and most 18 year olds aren't sophisticated enough financially to realize that. So you have to step in. Why is it that folks don't think twice about denying a kid anything but a college education on the ground that the thing they want just isn't worth the money.

We had one kid get into UVA and Notre Dame. Yes, we could have afforded Notre Dame, but we can afford lots of things that we don't buy. Are we really just expected to pay double for Notre Dame just because our kid wants us to? Sorry, no.

So what kind of cars do you drive?

And how much is your house worth?

Primary residence is worth $1.8 million. Second home is worth $900k.

Why do you need that second home? What a waste.

LOL nice try. We're not throwing money away on it. We didn't pay more for it than it was worth, and it's an appreciating asset. Unlike some BS no-name second tier overpriced private college.

I think you need a better home office manager. Doesn't sound like your current system is very efficient.

Sounds like they're doing it themselves. Not quite in the home office tier.