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Different schools of thought about paying for college

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Replies to: Different schools of thought about paying for college

  • ucbalumnusucbalumnus Registered User Posts: 72,246 Senior Member
    One thing to note is that a student's college choices may be determined as much or more by parental money situation compared to student ability.

    The implications are that parents need to have some idea years before to guess whether the more expensive options may matter, and whether they are worth whatever financial frugalizing choices that need to be made over the years (and whether some other types of parental actions like divorce may shut out some choices altogether).

    Another implication is that, if you are reviewing candidates for hiring, the signal of an expensive private college may indicate as much about the applicant's parents as it does about the applicant, and also signals about the applicant based on college name are mostly about the applicant's high school strength (which also has dependency on parents more than later achievement).
  • oldfortoldfort Registered User Posts: 22,309 Senior Member
    Another implication is that, if you are reviewing candidates for hiring, the signal of an expensive private college may indicate as much about the applicant's parents as it does about the applicant, and also signals about the applicant based on college name are mostly about the applicant's high school strength (which also has dependency on parents more than later achievement).
    This is simply not true @ucbalumnus. Top tier private schools are more likely to offer FA to students. I would not jump to any conclusion about applicant's parents because it is a private school.
    I have no clue what you are saying about applicant's high school strength. After 4 years of college, an applicant's high school experience is irrelevant. How a student got into college is also irrelevant.
    @ucbalumnus - do you have kids or had kids in college?
  • socaldad2002socaldad2002 Registered User Posts: 733 Member
    “Who says the higher ranked school is where a student would get the “best education?” I disagree with any such generalization.”

    Some of the top colleges are the best in their field such as Northwestern for journalism, USC for film/media, and UPenn Warton for finance to name a few colleges. Getting a full ride at say Iowa State isn’t likely to provide the same or better experience and education.

    Can the Iowa State kid get a good education and be successful, of course, but did they get the best possible education and challenged themselves with the best professors, curriculum, internships, and peer group of very smart and brilliant student body, not likely.

    There are a lot of good colleges in the US but very few GREAT colleges that are worth the cost, but for the ones that are I see very few family’s and students passing on that rare opportunity if they have the money as was posed by the OP.
  • intparentintparent Registered User Posts: 35,370 Senior Member
    @CCtoAlaska You will find that most experienced posters out here will advise students to stick to only their federal loan amounts, and work within a budget that includes only those if loans must be taken.
  • CCtoAlaskaCCtoAlaska Registered User Posts: 320 Member
    edited November 25
    @intparent yes, this is a community of the aware! But I see it all the time, especially in low-income, first generation students. They really get shafted, especially if they have counselors who would rather be cheerleaders than realistic. And the parents don't always know. But sometimes the parents should know better but get caught up.
  • ucbalumnusucbalumnus Registered User Posts: 72,246 Senior Member
    oldfort wrote:
    This is simply not true @ucbalumnus. Top tier private schools are more likely to offer FA to students. I would not jump to any conclusion about applicant's parents because it is a private school.
    I have no clue what you are saying about applicant's high school strength. After 4 years of college, an applicant's high school experience is irrelevant. How a student got into college is also irrelevant.

    Regarding FA, those most selective private colleges admit few high-FA-need students -- check the Pell Grant percentages. Typically, about half of their students are no-FA, meaning from top 3% or so money families.

    And if high school strength is irrelevant for a college graduate, would you consider college name irrelevant when hiring one? Because if you do favor the Harvard graduate over the CSU Bakersfield graduate based on the college name, you are implicitly using their high school achievements and parental situations that got them to those colleges as part of your criteria.
  • CCtoAlaskaCCtoAlaska Registered User Posts: 320 Member
    @SoCalDad2 there is also almost never a discussion of whether the education itself is worth the cost. My daughter has been attending classes at an extremely high-priced private nationally-ranked university that is on a lot of student's
    "wish list" (for free as part of a community program). It's fun that she is accruing college credits but I would personally not pay a dime for those classes - they lack breadth and depth. In fact, she stopped taking the free classes because they just were not worth her time. She started paying for community college classes instead because the classes are superior. I don't really know the solution to that dilemma but it's been a huge part of how I've considered the worth of college education.
  • itsgettingreal17itsgettingreal17 Registered User Posts: 3,489 Senior Member
    @Postmodern There is nothing presumptuous or judgmental about the latter statement. In my opinion, no college is worth $70k+ a year. College costs have far outstripped inflation without justification. Is the education being provided now at these institutions X% better than was being provided in the 1980s and 1990s? During those times, I think the cost was reasonable. I don’t think so at today’s costs. That is not a judgment on anyone’s choice to pay the cost. The market can obviously bare these inflated tuition price tags.
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