When the cost of college eclipses the $90,000 mark

I would suggest reading this class profile from UVA Law. It tells a lot about where the students are most recently coming from. I don’t see Alabama mentioned in the recent top group. It appears you are referencing info from 4 admission cycles in the past and it was a bit of an aberration. Conversely the Ivy plus schools are consistently represented every year.

3 Likes

Outcomes … I imagine everyone has some outcome in mind when they pay for college. And every student has an outcome (even if they don’t graduate).

1 Like

I was a little off on the year - it came up on a search. Didn’t see it was class of 23. Good catch.

Members of the Class of 2023 come from 144 undergraduate schools. Schools with three or more first-years represented include:

University of Virginia 23 Harvard University 4
University of Georgia 8 Ohio State University, Columbus 4
University of Alabama 7 University of California, Berkeley 4
College of William & Mary 6 University of Pittsburgh 4
George Mason University 6 Vanderbilt University 4
New York University 6 American University 3
University of Michigan, Ann Arbor 6 Florida State University 3
University of Notre Dame 6 Indiana University, Bloomington 3
University of Pennsylvania 6 James Madison University 3
Virginia Tech 6

For 2026, they don’t have sorted in order - but it looks like UMD with 11, and then Gtown 7. I think a lot is regional. Also on their top schools represented are Arkansas, UGA and Ohio State.

For 2025, George Mason is well represented as was Oklahoma. For 2024, GW, UF and UGA and South Carolina make appearances.

Then my list. Yes, they have many from “top” schools too- but when you see 144 schools represented - no different than Harvard and Yale. It goes back to - yes, kids from top schools are going for the same reason that they got into the top schools. But anyone from any school is capable - they just didn’t go to a top school to begin with!! Of course the top schools will have greater concentration but that doesn’t necessarily mean they have an advantage.

Good catch. Sorry about that. But the message remains.

Thanks

1 Like

Maybe that is true for many or most parents, but I personally feel that the journey matters, fit matters, and I am happy to pay for my kid to have a great experience. (Of course, having those options is a privilege.) College is four years of life. If they can be enriching, happy years surrounded by inspiring peers and professors, exposed to new people, places, ideas, and experiences, that is worth more to me, personally, than a fancy kitchen upgrade.

I am not really expecting a good ROI for my humanities kid. She will be attending a New England LAC and, currently, she thinks she probably wants to be a teacher, maybe a writer. I also expect that her mind will expand, her ideas will change, and new pathways will open over four years. Who knows? But she is SO EXCITED about her school.

My other kid really likes the idea of a State school and was really proud of acceptances where he received merit scholarships. So that is the path for him that he is excited about. And he probably will have a far better ROI, but also the experience that is right for him.

9 Likes

I think paying (especially significant sums of money) for a journey is a luxury. College, regardless of where you attend, is a journey. Where you go on your journey, what you experience and what you learn are largely left up to the student. For those who have the funds it’s simply an opportunity cost such as your kitchen upgrade example. For many it can mean the difference between an experience (good or bad) and being able to live within your means. May both your kids have superb experiences in college.

4 Likes

I have a pretty broad view of “outcomes” that aligns with everything you have listed as well. I don’t equate outcomes with a well paying job.

7 Likes

As a Canadian, I can tell you it amazes me and kind of troubles me that some people can actually afford full pay. When you consider what gross income that represents to pay that. Room and meals is roughly $12K alone. My youngest is going through the process now with his tight budget and has had schools tell him…get a loan. Like seriously. Pay ridiculous interest and put a weight on your back for your future. Lots of great smaller schools at affordable costs.

6 Likes

I don’t understand the judgment. Why would it trouble you if people save for years to put their kids through college? That’s what we did, and were happily full pay. Different people make different choices…that seems ok, no?

I agree with you on the loans, and generally don’t recommend loans above the $27K undergrad limit of federal loans that students can (generally) take.

10 Likes

Not quibbling about those who save for it and can afford it that way. More about the people who don’t even hesitate to pay like it was grocery money. Larger concern in mind of the “wealth” gap in society which is driving up these prices, too.

3 Likes

Again, their money.

Average net college COA is decreasing and has been for at least a decade as I posted above.

2 Likes

I get it and I’m not saying anyone is wrong. In fact, I think why you go to college is very personal.

But I surmise if there was a survey (maybe there is) of why a parent wants their kid to go to college, the #1 by far answer would be - so they can get a great job!!

Society has planted the should go to college message and statistics related to outcome often show that having a degree is a great investment.

Right or wrong - and it’s individual (you are correct) - and I’m talking society - not the CC parents - there’s no doubt in my mind if someone said give me one reason you should go to college - it will be job outcome related.

Different websites all say similar:

“College graduates tend to have better career and financial outcomes. In 2022, they earned 75% more on average than their high school-alone educated peers,”

A college degree will help your child

"* Earn more money
College graduates earn, on average, $22,000 more per year than high school graduates; that’s more than a million dollars over their lifetime

  • Have more job security
    College graduates have an easier time finding and keeping a job; they have more jobs to choose from"
2 Likes

The US does have a higher concentration of wealth at the top than Canada, but even Canada has a good supply of people with money for whom paying list price at a US university is pocket change.

1 Like

Not in the Thumper household. We sent our kids to college to broaden their information and thinking, and to expose them to things outside their HS interests. Both went to colleges with strong core course requirements.

And we were happy to fund this.

Both are employed, and have been since finishing their schooling. One is doing jobs related to the bachelors and masters. The second is not doing what their first undergrad major was (engineering) but is doing what they chose to pursue instead.

I personally think attending college is way more than just getting a job.

13 Likes

Developing a good work ethic, learning at least some skills and knowledge that would help them get a good job were definitely reasons I sent my kids to college, and encouraged majors with good job prospects (which I wish someone had done for me), with the goal that they would be able to support themselves because we would not be able to do that. One is now a STEM grad student at one of the colleges referenced in this thread. The grad student union recently negotiated a contract that will increase his annual stipend to $47,000 starting in the Fall. I’m sure one increase leads to the other.

2 Likes

I feel otherwise.

If someone wants to spend money they have, then great - their choice.

My concern is those who spend money they don’t have - also a personal choice - but often these folks are spending on something they can have for less and borrowing to do so - and that’s a heavy penalty. Plus they don’t always have enough for food or other life necessities - so that’s a hard trade off to make.

But again, it’s still a personal choice.

Again - it’s personal - I’m simply noting for the masses - not for any individual.

I also think it’s more than a career outcome. I personally think it’s a part of it but I also think there is growth, maturity, responsibility and other important traits.

But I think the why the masses - not the thumper household specifically - send kids to college - for career opportunities.

I wouldn’t underestimate the % who go to college especially the elite ones more for “networking” opportunities (although that is partially linked to career). I also know people who push their kids to the more well- known schools just for “bragging rights”.

6 Likes

D’s best friend and her sister went to USC. Their father is a lawyer and is very well off. I wonder if he would pay this much. I don’t USC cost this much when these girls went there…

This topic was automatically closed 180 days after the last reply. If you’d like to reply, please flag the thread for moderator attention.