<p>@ChocoChipMom, did you run the Wellesley’s NPC <a href=“Net Price Calculator”>Net Price Calculator; ? When you say 127k, is that number from your 1040 or from W2s? There are so many factors in deciding your income. I would suggest you run NPC based on your CSS/FAFSA to see what number you get. And it is very easy if you already have your CSS and you just need to copy and paste to the calculator.</p>
<p>“Back when I was in HS at my public magnet, many classmates were dismissive of Wellesley’s elite status because many were admitted from my graduating class, the GPA/stats of admitted students, and considering there was a libertarian-right political orientation among many students at the time…because Hillary Rodham Clinton attended.”</p>
<p>Why are the opinions of people at some random NYC high school 15 years ago (as if they all thought the same things en masse) of any relevance whatsoever as to what ChocoChipMom should consider in her situation? Gee, maybe I’ll talk about what the people in my high school in suburban St. Louis thought about Wellesley 30 years ago. That, and the price of tea in China. Who cares? What’s relevant are well-considered and factual opinions based on TODAY.</p>
<p>Pizzagirl,</p>
<p>If you had bothered to read my entire comment and its context in relation to OP’s comment here:</p>
<p>
</p>
<p>you’d realize that a part of it DID RELATE to her comment above and I was citing other factors at my HS to denote how such comments from/reasons influenced by fellow HS classmates at her D’s school shouldn’t be considered very much when looking at a given college’s merits. </p>
<p>Why do you bring up your high school in the first place, though? It’s not relevant. No one’s high school is relevant at this stage in the game. It doesn’t matter ONE BIT whether everyone at your high school thought Wellesley was the bomb or thought that Wellesley was awful. </p>
<p>If you have knowledge about Wellesley, Tulane and / or Grinnell based on PERSONAL experience TODAY or in the very recent past - that is useful to the OP. If not - what’s the point? </p>
<p>Can i add that this discussion of whether cobrat’s one comment was relevant has resulted in four comments that are definitely not relevant to the OP’s question. Let it go @pizzagirl. People are here for pleasant conversation.</p>
<p>OP: know that for everyone that may tell your daughter debt is no big deal, there will someone else that tells her it is a big deal. She will be done with high school soon, and all that will be remembered is where she ends up, not where she might have gone. Many of us have been in the situation where we can “sort of” afford the super expensive school, but not without depleting savings to an uncomfortable level. It is hardest while the students are still in high school. Once they leave, the “who is going where” pretty much stops.</p>
<p>It will be much harder to tell your daughter you can’t continue to pay for Wellesley or to tell your second child that their choices are limited than to make that decision now.</p>
<p>Good luck!</p>
<p>@cobrat I understood what u were saying. And I appreciate u saying it as I appreciate all the advice, iincite, and feedback. Thanks, all 
</p>
<p>I have read this entire thread this afternoon as I feel that we may be in a similar situation soon. I understand what people are saying about debt. But as I think about this… well whether a family can outright afford to pay the additional let’s say 20K per year because they earn a lot, OR they can afford to pay it because they have been frugal and have saved over the past 18 years, OR if the family (let’s take the student out of the equation for a minute) borrows the 20K per year - well I almost see all those 3 as being essentially the same. In all 3 situations the money is coming out of the family household. Of course interest on loans is a big difference but the family either sacrificed earlier or has to now. I guess I haven’t seen anyone touch on whether these schools are even worth this much money even if you could pay it? I am thinking maybe more emphasis needs to be put on the worth of the school.</p>
<p>I am trying to figure out how we will make a decision. How do you compare the school that gave you full tuition/ride money to the one that you have to pay 20-25K each year for? One person touched on the immeasurables. Yes it would be easier on our family if he took the cheaper school but is that the best option for his future? This is so difficult. Rankings are drastically different between the colleges but that’s not necessarily a fair comparison as both are pretty good in health sciences.</p>
<p>@midhelper, thank you for posting this question ^^^. I am interested in reading more discussions about this. I, too, wonder about the “worth” of each school my son was accepted into with various price tag. There are from full ride to full tuition to full pay. We can pay from 18 years of frugal savings but just wonder if it’s worth it.</p>
<p>
Freudian slip?? </p>
<p>We were in this position 8 years ago. S had received a full-ride from one OOS U, as well as slightly more than 50% tuition from two private Us he preferred. He was willing to discard the Us that offered him NO merit. It did involve some sacrificing on our part, as H was VERY near retirement and rumors kept circulating that his job and others were being cut ‘soon.’ We did let our S make the choice. He had absolutely no interest in the OOS U, and we were sad but allowed him to attend one of the two other private Us. He did extremely well there and for us and him, it WAS worth it because that was where he felt he’d be comfortable. He did take advantage of the opportunities on his campus and had a great college experience and now has an excellent full-time job.</p>
<p>We hadn’t considered how we’d feel when D wanted to follow S to the same U as a transfer with NO funding. 2 years after S was at his U, D asked and we agreed to her applying to join S at his U. It turned out to be an excellent for her as well, but it was a BIG stretch to pay 1.5 tuitions, plus all the expenses while they were both in college. For US and the kids, it was worth it. We were VERY fortunate that H’s and my salary rose when we most needed it, to help us cover these extra costs.</p>
<p>We have no idea how things would have turned out for either or both of our kids if they had gone a different path. We can’t ever KNOW, but for us, it worked out OK. So much depends on the parents’ and family financial situation, the majors, the available options, how much of a stretch things will be and for how long, likelihood of layoffs and/or raises and/or ability for increased salary. Also, it depends on position of the family for a comfortable retirement. I would NEVER advise raiding retirement funds to pay for kids’ education, as no one will thank you when you run out of money in your old age.</p>
<p>One thing that really helped us was being able to have a payment plan with the U, so we could pay equal payments every month instead of one large lump sum once or twice a year. This made it easier to pay as much as we could out of current earnings rather than all out of savings.</p>
<p>There are no easy or ‘one size’ answers. It sure would be easier for all of us if there were.</p>
<p>“Thank you all…its helping to relieve my guilt…because I do have some.”</p>
<p>IMHO, we’ve all lost our collective minds as to the cost of college. It’s like the frog getting slowly boiled to death as the water ticks upward one degree at a time. Back in the early '90s, we talked about $25k per year as though that were outrageous and out of reach for the vast majority of families – because it was – and now we’re double that in real dollars, and it’s not OK. Unless you have all the money put aside, no guilt for choosing a half-price option that’s 90% as good.</p>
<p>It is all about what your family can afford and what you feel comfortable with. Will you have enough money to retire? You can’t borrow money for retirement but you can borrow money for college. Do you want your child to be saddled with lots of debt? I really can’t emphasize how debt hamstrings choices. Crunch the numbers and see what the monthly payment will be once your student graduates. </p>
<p>We all want the best for our kids. We want them to go to the school of their choice but sometimes it won’t happen. It is important to consider your future as well as your student. </p>
<p>I recall a thread when I first discovered CC. It was Curmudgeon and his daughter. I would highly recommend you look it up as it worked out great for his daughter. </p>
<p>@jym626 haha…maybe…I read and posted in a hurry so it certainly could have been ;)</p>
<p>@preamble1776 what have you and your parents decided about this? The thread derailed a bit but I am wondering if you as the OP have any resolution?</p>
<p>I totally agree that what makes sense depends on the family. </p>
<p>But I do want to add something. Some are describing choosing certain schools as going after the prestige, but a student may desire a high prestige school for a reason other than the prestige. My DS will be going to Columbia, but it’s not for the prestige. It’s because he loves the core curriculum and NYC’s cultural opportunities. All the programs are strong.</p>
<p>The fact that it meets full need is meaningful for us, and adds up to significant aid. </p>
<p>@momfromme, will you pay the full price tag for Columbia ? Or, some FA from the college ?</p>
<p>MTnest - there in lies the rub - how much IS enough to retire on? Is the extra $100K for one school over another no big deal or (to anyone but the most wealthy) enough to change monthly retirement income? There is no magic answer. </p>
<p>^^^You sound like a student rather than a parent. It’s impossible to know which school “they’ll be the most successful at” and sometimes money HAS to determine where they go.</p>
<p>My response is that unless one is independently wealthy, money should always be a factor in deciding between schools. To deny that is to encourage fiscal irresponsibility. I’m not saying that the cheapest option is always the one to chose; but that it’s foolish to pretend that allocation of parents’ (limited) financial resources should depend on a teenager’s whim about the “feel” of one school over another.</p>
<p>If we put $250K for HYP BS degree, is the ROI (Return Of Investment) higher than full-ride option from top 50 colleges?<br>
Although there will be uncertainty, the ROI is not much higher than the full-ride option at most of cases.</p>