Anonymous wrote:Between AP credits and several community college courses taken while in high school, my daughter had 52 credits before the first semester started. Graduated from a Big 10 accounting program in 3 years, saving us a ton of money. Started working full-time as an accountant a month before her 21st birthday. Had master’s degree in accounting and was a CPA by age 24.

The best thing about graduating in 3 yrs is that not only do you not spend money on that 4th year, the money you had earmarked for year 4 can now be spread over years 1-3.

Seems like a waste of her intellectual firepower.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As the first two responses indicate, one reason people do pay all this money is that if you’re going to blink, you really need to do it early, like when you’re choosing high schools, to avoid massive social and emotional complications.

Good advice. For most of America, there’s no assumption you’ll be able to afford/attend the best school you can get into. But for certain parts of DCUMlandia, it raises eyebrows to tell your kids they can’t go to Harvard even if you get in due to cost. If that’s you, you gotta tell your kids early and often, because they might be in for a rude awakening.

I think it’s so unfair. I was reading the wall at journal article today about the kids going to Harvard needs-blind for free. A kid that was middle class under $150k but in low cost of living area—while of our kids got into these top 10-20 schools we’d have to say you can’t go because we aren’t draining retirement t accounts. We have about $130k in each kid’s 529, but they’d need $345k for these schools. So - yeah it sucks to say sorry you can’t get go while both parents have always worked full-time, no time off. It’s just not an equitable system. These kids going need blind werent first gen they were kids of teachers (one chose to be a substitute-part time teacher).

Some of the people with the least worries over college costs are professors in LCOL area college towns. They're doing well for where they are, they can get financial aid at ivies, and they usually have the fallback where their kids can go to whatever school they are teaching at for a hefty discount. And they have all the benefits of having parents who are professors preparing them to go to college.

I grew up in the Midwest in an area where going to college was the expectation, but very little prestige given to this school over that. People mostly went public.

But .. there was also an expectation that kids got cars over their own in their teen years (new, nice cars). People cared indeed about brand names. People got married pretty young, bought an home at 30, and had their 3 or 4 kids by the time they were in their mid 30.

My parents were east coast transplants and we had to use the family car when it was free and applied to colleges further afield. We all went to Ivy League schools (in the day when it wasn’t that hard for full pay kids).

And now I live in Brooklyn and see this mania up close.

But as I watch my Midwest friends repeating this cycle I think, that’s a better way. It’s weird how this college thing overtakes a childhood. My old friends had more kids, roomy houses, less financial stress, got a lake house in MI or WI, are on track for retirement, and their kids had carefree childhoods. They all have fulfilling jobs. Their kids will too.

Why do we do this?

Anonymous wrote:

Anonymous wrote:Yes, we can afford it. Is it worth it? I’m not sure.

Same here. I live in Bethesda and we all gripe about college costs, because none of us are in the financial aid realm but it’s still not pocket change for us.

Yep. No financial aid for us, but it's not exactly pocket change either, especially since we have two that will be in college at the same time.

529 since the day they were born.

Anonymous wrote:Yes, we can afford it. Is it worth it? I’m not sure.

Same here. I live in Bethesda and we all gripe about college costs, because none of us are in the financial aid realm but it’s still not pocket change for us.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You can do top 50 and not spend 80k. We have on at WM in state and one at a “top-ish” midwestern LAc on merit. But you need to be honest with your kids early on a lot the financial limitations. Mine knew going in some college choices just weren’t available. Still spending over $150k per kid, which isn’t a small amount. BUT, they graduate with no debt. I consider that to be a huge gift because they can make choices about their future without being limited to immediately taking the job that pays the most.

Going to add, does WM give you an advantage over Vanderbilt worth an extra $150k. I’m a grad of a Vandy peer school with a similar ranking and I doubt it. Especially since the cheaper schools means we can subsidize low paying/unpaid internships, study abroad and school year expenses when kids do unpaid research for credit.

Depends on the area of study. If you’re looking for a very competitive consulting or finance career, yes Vanderbilt definitely gives you the edge up and has the better net work.

Govt/policy/international relations and any plans for grad school in other fields W&M is a better choice.

Anonymous wrote:

Anonymous wrote:If you are in dc don’t you get in state rates at out of state schools since Dc doesn’t have a real in state univ?

Ha, why do so many people think this? So absurd.

DC/Congress provides a $10K/year subsidy.

https://www.thecollegefundingcoach.org/the-myth-of-the-d-c-resident-paying-in-state-tuition/

Anonymous wrote:We currently pay $45K a year for our daughter's private HS, so college won't be that much of a shock.

It will be like paying for you daughter and her twin sister simultaneously.

I pay $60k right now for two kids—and when the other one goes to his dream school that won’t cover 1 year of just his…it will be 3 times what we pay for one $30k year. Yes- it will be a huge shock to the System

Anonymous wrote:Nope, getting FA at an Ivy because of multiple kids in college at same time.

How much do you make for that to happen?

Anonymous wrote:

Anonymous wrote:As the first two responses indicate, one reason people do pay all this money is that if you’re going to blink, you really need to do it early, like when you’re choosing high schools, to avoid massive social and emotional complications.

Good advice. For most of America, there’s no assumption you’ll be able to afford/attend the best school you can get into. But for certain parts of DCUMlandia, it raises eyebrows to tell your kids they can’t go to Harvard even if you get in due to cost. If that’s you, you gotta tell your kids early and often, because they might be in for a rude awakening.

I think it’s so unfair. I was reading the wall at journal article today about the kids going to Harvard needs-blind for free. A kid that was middle class under $150k but in low cost of living area—while of our kids got into these top 10-20 schools we’d have to say you can’t go because we aren’t draining retirement t accounts. We have about $130k in each kid’s 529, but they’d need $345k for these schools. So - yeah it sucks to say sorry you can’t get go while both parents have always worked full-time, no time off. It’s just not an equitable system. These kids going need blind werent first gen they were kids of teachers (one chose to be a substitute-part time teacher).

Anonymous wrote:

Anonymous wrote:If you are in dc don’t you get in state rates at out of state schools since Dc doesn’t have a real in state univ?

Ha, why do so many people think this? So absurd.

It’s been an urban legend for as long as I can remember

Anonymous wrote:CA certainly, and VA less so, but both have outstanding public university options. As residents, we don’t have much to complain about. Still, my own kids have the luxury of selecting the college they want to attend, once accepted of course.

This

Anonymous wrote:If you are in dc don’t you get in state rates at out of state schools since Dc doesn’t have a real in state univ?

Ha, why do so many people think this? So absurd.

Nope, getting FA at an Ivy because of multiple kids in college at same time.