Hope this helps wrote:
Some schools have more "academic" money to give than others.
Not Ivy colleges, however. All of their aid is need-based, period.
That said: It is absolutely possible (sometimes) to negotiate a higher level of need. And the Ivies (or at least some of them) will indeed match the offer from any other Ivy, so that the ultimate choice of school is not based on finances.
aquafina wrote:
Send her to an Ivy to get that Mrs. degree. Use her assets to the best of her ability.
This is the key to social climbing. Tell her she can fall for a rich Ivy kid just as easy as she can fall for some wanna be track coach teacher from a state school with working class roots.
This is the best thing she can do for herself and her future children.
Not what I envisioned wrote:
I was never one of those parents who pushed their kid to excel in track in hopes of a scholarship. However, as my daughter began to excel, the thought of a nice, partial ride was a nice hope.
Well ... it turns out her ability has attracted the attention of 2 Ivy League schools. What I've since discovered is that they don't give athletic scholarships ... it's all need based and we make too much.
So now my daughter has just returned from a recruiting trip to Columbia and loves the place.
My question is ... how much should I agree to pay? On the one hand, I'm very proud of her, but I can't shell out $72k per year either. What is a reasonable compromise?
There are only a few expensive schools that are worth the price. Columbia, although not my first choice, would be one of them but ONLY if she agrees to a legit major.
If you have a piece of paper with Columbia on it you have purchased some legit cred for the rest of your working life. Not the case for for most expensive schools.
Humble Brag by proxy!
This shouldn't be an issue. She should go to a school that will offer her a scholarship so you don't end up in the poor house. 72K X 4 = 288K over 4 years. Not to mention all the travel expenses, books, and living expenses she will need. So let's call it 350K. Good luck.
make her pay.
tell her she can finance her college education, but you can't finance your retirement.
BINGO Baby!!!! Just went thru this last year with my son. Go to Duke, Stanford, etc...and pay what they poster said, or get a full ride at one of 5 Division One schools without a mortgage payment when he was done. He opted for MSU.
Track Fan 1979 wrote:
This shouldn't be an issue. She should go to a school that will offer her a scholarship so you don't end up in the poor house. 72K X 4 = 288K over 4 years. Not to mention all the travel expenses, books, and living expenses she will need. So let's call it 350K. Good luck.
Go study in the EU. Enjoy life
Not what I envisioned wrote:
Also, I don't want to sound ungrateful, but I don't feel rich. I make about $170k per year, but only recently got some big bumps to put it there. And I'm already mid-fifties.
Am divorced, and the ex makes over 200k, but expects me to pay half. So, I'm looking at 36k per year with 2 younger kids.
At 170K your EFC is not going to be anywhere close to $72K. Hell most of the Ivies have $0 expected EFC for families with incomes up to $120K. My household income is well over 300K and our EFC for our oldest at a peer school was only ~15K. Ivy League need based aid is extremely generous. You should be thanking your daughter as for a family in your income range Columbia is likely to have a lower TCOA than your state school.
Has the OP run the stupid net price calculator yet? They say that's what the financial aid will turn out to be. End of suspense
This daughter will either be barren of the womb or get an expensive degree just to quit her career and become a mom.
Or maybe she gets a great education and her kids are raised by someone else.
Choices
$225,000 for a poli-sci or psych degree
Not worth it
Seriously mate? wrote:
Tell her if she wants to go there then she's paying for it.
Seriously mate? wrote:
Tell her if she wants to go there then she's paying for it. And if she plans on majoring in humanities or gender studies then Lord help us all.
Right.
Study something that gives you a career that makes a lot of money.
I.e., a career protecting and expanding the wealth and power of the financial elites.
You're all effin peasants as far as I can see.
What ended up happening OP?
When I'm evaluating new engineers to hire; or business-type folks - both types I've had extensive experience in hiring - where the degree is from isn't high on my list of things to evaluate. It's what you're doing with that degree. If I see a Stanford or Ivy League grad applying for a job at my company, I'm always up for interviewing them; however, many times their salary expectations due to having their degree is out of whack with the marketplace.
Some of the best candidates I've had are from state institutions who've worked their butt off to pay for their own education and are motivated to succeed and are incredibly resourceful. Many times (not all), the grads from Stanford & Ivies tend to think the success will come to them and not have that "hungry" desire to go get it for themselves.
Ivy League schools are over rated for undergrad. Send her to a decent school that gives merit based scholarships for undergrad and then let her choose where she wants for grad school. Spending $288k for undergrad would be the worst financial decision ever.
Yale is best in tuition for Ivy's. They base everything on "need". you could make 29k per year, and your daughter would go to school for 2k out of pocket per year (example). Cry poverty. Make yourself seem like you may make a decent amount but emphasis overhead and expenses.
tritimes wrote:
Yale is best in tuition for Ivy's. They base everything on "need". you could make 29k per year, and your daughter would go to school for 2k out of pocket per year (example). Cry poverty. Make yourself seem like you may make a decent amount but emphasis overhead and expenses.
Except nobody wants to go to Yale and live in New Haven (boring hell hole)
Fat CaliDog wrote:
quickndirty wrote:
Are you thick, maybe just naive???
When you pay those high cost it isn't about the learning, you are buying exclusivity. Chances are she will meet and breed with someone from this Ivy League school.
If she goes to a state school she could end up with any ol' body from god knows what kind of redneck working class background.
At an Ivy he can be assured that she is in the company of others of her class or higher. So she can be with other children of doctors, attorneys, CPAs and NOT the sons of truck drivers, dock workers, and auto mechanics.
Yep, I agree with you. My father-in-law still gives me the stink eye, even after 20+years of marriage AND decadently providing for his angelic daughter.
My wife came from the upper class, and decided that after 12 years of Catholic school she wanted to live a little, so she enrolled at a State school out here in Cali--big mistake for her. Sure, she was lucky enough to land the Fat CaliDog, but hooking up with a Stater like me is really rolling the dice for the future. Couple of the guys I grew up with OD'd (and not in a pretty, Less than Zero way, just meth dead), a few are in jail, most struggle. Some of my college friends are really successful (I would say I am moderately successful), but most are just okay middle managers. A Stater is more likely to be a worker bee than a CEO--if you have a daughter, send her to the best school you can afford so she has the chance to marry up. We didn't have any daughters, but if we had, they were going to Stanford, come helll or high water. Never let your ladies mix with the riff raff, guys like me. We may be more fun and we may be better people than those Ivy guys, but chances are, Staters aren't going to be super high on the success chart. Play the odds, give your girls the best chance they can get, send them to the best schools you can afford.
I don’t know if I ever read better advice than what these two guys, big fat calidog and quickndirty wrote. I know this thread is a little old but hopefully you listened to these two.
The Ivies are now dominated with lower class students because they have made it free for them. Some of the ivies are bragging that they have turned caucasians into the minority by lowering standards for people of color at the same time charging entirely based on the ability to pay. Anyone in the upper middle class has been priced out of the market so you only have the weirdo spoiled liberal rich kids and the poor going to the ivies.