A few pages back there was a very good discussion on the prestige school vs. cost and financial value.
I have been so torn on this subject. First let me say when I was planning for the cost in no way did I expect the prestige schools to be in the 65000-70000 a year range so my saving plan for my dd18 and dd21did not account for the ridiculous inflation of college education. Also we will not be eligible for any financial need based money.
However, all along I told my girls if they worked hard and got the grades and stats I would pay for their college of choice.
As an older wiser person we have all seen peers, friends and neighbors that went to the state schools get great jobs, and make more money than folks who went to the higher prestige schools. On the other hand we have all seen the doors being opened, connections and alumni support among the Ivy’s, ND Stanford etc.
Another factor that makes it difficult is I think among these high performing kids their friends are usually also high performers and there is no doubt some competition and peer pressure to go to the prestige schools like their friends.
I feel like I made a promise (that in retrospect I wish I wouldn’t have) so that I feel I have to honor my commitment to pay for the entire cost of wherever she goes college.
This worrying of mine may all be moot as the high prestige schools are all a crap shoot even for the high scorers. So it is a stretch that she will get into Princeton, Brown or Vandy. I hate to root against her getting in to one of those but a part of me does. (Is that bad?). Don’t get me wrong I would be so proud and happy for her as that would be a tremendous accomplishment.
Next we have unc and uva which are also both crap shoots for oos high scorers. Better financially with unc checking in at about $48,000 and UVA at $57,000 but still high and no merit or need money.
Then we have Clemson and Delaware were she has been admitted to both with $15,000 merit so the cost is comparable for our in state schools of Pitt and PSU neither of which she wanted to apply to.( Pitt to urban PSU too big.)
As with everyone else it is going to an interesting and life changing couple of months us.
I thank you all for the great insights and collective wisdom and wish you, your students and your family a great 2018.