Wealthy parents - any advice in how to cover $70,000 college costs?

Barf, you piece of shiiiit. The next time I remember not to hire the kid with the "elite" diploma, or to find a way to piss on the Ivy League kid, I'll remember posters like you. Here's hoping Bernie or Warren tax you clowns into oblivion, or perhaps the French had a better answer for such people.

don't listen to these people wrote:

Don't listen to these people. Attending elite academic schools is absolutely worth the investment. I work at a hedge fund and my wife is a partner at a large law firm - both of our companies won't hire anyone that went to state school (grad or undergrad) no matter what your GPA is. Our peers also don't hire state school kids.

The name on your diploma matters in a huge way when applying for jobs and grad schools. You will get more job opportunities at higher salaries if you attend an elite private school. It pays off in the long run by a large margin.

Most of the posters here are white and college educated. Therefore, the study found that the people asking about the Ivies on Letsrun would be far better off not to attend an Ivy because their earning potential us unaffected by attending stateU. Why pay $300k if you can go to college for free? I suspect the reason why minorities do better at an Ivy is that their test scores are lower than whites and Asians but the Ivies push everyone through with at least a 3.0. So a black kid graduates Harvard even though he had only a 28 ACT. Employers don't ask about an ACT. Of course minorities will do better. But the point is that whites and Asians earn the same at an Ivy as at their state school.

What’s your kid like? Seriously? Is he or she going to take full advantage of the elite school or will he or she just party away in a useless major?

My financial situation was same as yours. My daughter had a choice of Dayton which she could have attended for pretty much free or full freight at Northwestern. She was the type who would have done well at either school regardless. She ended up at NW. Sigh

My child graduated from HS over 15 years ago so the numbers are somewhat lower. Intsead of going to an Ivy there were other good schools that offered close to 50% merit. In the end the choice was a state university honors college. We got about 30% off the lower in state tuition. After graduation the education was continued at an Ivy college PHD program (in the sciences) where my child got paid to go to school and do research.

The end result is an IVY league PHD and total cost was equivalent to about about 3 semesters towards an Ivy league undergrad degree. Actually if you reduce the cost of the undergard by the grad school stipend, the family made a profit.

Apparently you had no choice in the matter all the while paying the tab huh weakling parent? What's it like to play the role of lesser in your parent/daughter relationship? Pathetic.

Honest assessment wrote:

What’s your kid like? Seriously? Is he or she going to take full advantage of the elite school or will he or she just party away in a useless major?

My financial situation was same as yours. My daughter had a choice of Dayton which she could have attended for pretty much free or full freight at Northwestern. She was the type who would have done well at either school regardless. She ended up at NW. Sigh

There are schools between Dayton and NW. Those couldn't have been the only two choices.

To the poster who said they only take resumes or whatever from elite schools ... on the flip side, I know employers who throw out any resumes listing Ivys. Good, high-profile employers.

Wealthy tuition wrote:

High level Universities don’t give merit based scholarships. We don’t qualify for financial aid. I can pay it, but if there are alternatives I’m open to them. Most private scholarships are very small (hundreds of dollars). Has anyone found good options for covering a decent amount of the cost?

Some places will allow you to pre-pay for several years (2 - 5 years) tuition and fees in advance and lock in the current rate regardless of how much the rates might go up in subsequent years. That can be a pretty good deal if you can fork over the funds up front.

aa wrote:

There are schools between Dayton and NW. Those couldn't have been the only two choices.

To the poster who said they only take resumes or whatever from elite schools ... on the flip side, I know employers who throw out any resumes listing Ivys. Good, high-profile employers.

Boston College was the only other option. She was accepted there too. NW was the stretch school and Dayton was the safety. Duke and USC didn’t accept her. BC didn’t offer aid either

I feel as if threads like this are elaborate means, tools really, to clarify that:

(1) Elites are destroying this country, and

(2) university education has become farcical, increasingly disconnected from reality.

My experience as well in legal field not touching ivy grads. The hiring experience is that they are too esoteric, lack lean motivation. Too corpulent and self impressed. The ivys get the can and passed..........next.

Honest assessment wrote:

aa wrote:

There are schools between Dayton and NW. Those couldn't have been the only two choices.

To the poster who said they only take resumes or whatever from elite schools ... on the flip side, I know employers who throw out any resumes listing Ivys. Good, high-profile employers.

Boston College was the only other option. She was accepted there too. NW was the stretch school and Dayton was the safety. Duke and USC didn’t accept her. BC didn’t offer aid either

Of those mentioned in your post, my son was rejected by Boston College. Got accepted at Northwestern and USC, choosing the latter.

Should have sent her to OSU.

Honest assessment wrote:

aa wrote:

There are schools between Dayton and NW. Those couldn't have been the only two choices.

To the poster who said they only take resumes or whatever from elite schools ... on the flip side, I know employers who throw out any resumes listing Ivys. Good, high-profile employers.

Boston College was the only other option. She was accepted there too. NW was the stretch school and Dayton was the safety. Duke and USC didn’t accept her. BC didn’t offer aid either

Go to a university in your state. "High level" universities for an undergrad degree are a poor choice if money is an issue for you.

don't listen to these people wrote:

Don't listen to these people. Attending elite academic schools is absolutely worth the investment. I work at a hedge fund and my wife is a partner at a large law firm - both of our companies won't hire anyone that went to state school (grad or undergrad) no matter what your GPA is. Our peers also don't hire state school kids.

Utter BS. I went to one of the top law schools (mostly sending grads to WLRK, Cravath, Skadden, etc) and there are tons of grads from state school undergrads and - gasp - even state law schools (mostly Berkeley, Virginia, Michigan) at ALL the top big firms. I had a lot of HYP and other Ivy grads in my law school, there was no noticeable difference in outcome (or intelligence) between them and the state school kids.

I have two Ivy degrees which were a big investment and I’m not saying it’s not worth it, but especially at the undergrad level if you’re planning something like law or grad school it might be worth saving money at the undergrad level, and could be a better experience as well. If you wanna go to bulge bracket IB right out of college then sure, make sure you go to a target school, but it totally depends on the individual’s circumstances and goals.

But enjoy your “hedge fund” job where you proudly hang your degree from Brown and have to approve trades with the counterparty across the street whose senior PM went to Rutgers, and keep living in denial.

I once worked closely with a Harvard grad. As a proud state school schlub, I never got tired of reminding him that we were at the same place, same level, same prospects for advancement. As should be expected of an entitled Ivy thinskinner, he chafed every time. That went on for almost two years. It was glorious.

I must have hit close to home because you and some others threw a temper tantrum over my comments. Based on your over-reactions it's obvious you've missed out on better jobs and opportunities that went to Ivy League grads instead.

The truth is if a company is debating between two candidates to offer a job interview to, one is an Ivy League grad and the other went to state school, the Ivy League grad will get the interview 95% of the time even with a substantially lower GPA.

Having a diploma from Columbia hanging in your office gives you much more credibility than a degree from Stony Brooke. You will get more business and your clients will pay more for your services.

Time for you to masturbate and go to bed kiddo.

Are you seriously that illiterate? I do have a Columbia degree btw (and another Ivy) but they’re in a box somewhere not hanging up on a wall. My point is what you said about top law firms not hiring “state school kids” is patently false, and the same goes for the top hedge funds/PE firms especially when looking at grad school applicants/experienced hires. Again, for certain things your school gives a definite leg up, but to insinuate you need to go to Princeton over Maryland if your goal is to go to law school and then Cravath is completely wrong - and it could be an especially bad choice if it involves a large sum of money. Giving bad information is not going to help the OP or anyone else looking for actual advice on this thread.

It’s sad to see there are still prestige wh*res like yourself out there who would give the name on the (particularly undergrad) degree significantly more weight than the applicant’s overall background and what he or she could bring to the firm. I’ve been fortunate enough to work in some great places where grads from the top schools work alongside equally competent folks who didn’t have that on their CV, and none of it mattered.

Here is an upstanding Ivy Leaguer from an upstanding elite family. Hedge fund manager in there too. Great people:

https://www.nbcnews.com/news/us-news/princeton-grad-convicted-killing-hedge-fund-manager-father-after-allowance-n1023216