<p>Child recently admitted to a NECSAC school in New England with a hefty tuition and no finiancial aid. Admitted to states flagship schools and several other private LAC with great merit aid packages ($70,000). We have the money for all these schools but are these highly selective schools worth the money for a great student who has no idea of a major but agrees that in today's world they will have to go on to graduate school and all the cash will have been spent for undergrad. Are these highly selective schools worth it???</p>
<p>IMHO- NOPE, not with today’s and tomorrow’s economic reality.</p>
<p>newport - This is a recurring question in many CC threads. The bottom line is (a) depends on the kid, and (b) depends on the family. It might be worth it, or it might not. Good luck with your decision.</p>
<p>My D decided to forego the options of an expensive wedding or an inheritance and take the money now in the form of tuition payments. Yes you can get a good education at a public school or even a community college and pay a lot less. For some kids the intellectual challenges and opportunities of a high rate college are worth the costs. IMO the choice of the major it not important, but having strong academic interests is. Ask your kid if they would trade the private LAC for the State U and a new car. You will get your answer.</p>
<p>Only you can decide if it’s worth it for your family. It was worth it for ours.</p>
<p>Grad school (PhD) is usually fully funded. Med/Law/MBA is a different story.</p>
<p>edad~</p>
<p>With you all the way. We have told our children that we are leaving them nothing in the way of inheritance. We value seeing them enjoy what we can provide now. Not that we have tons of cash to throw around, or pass on for that matter! Just that we prefer to help them when they need it rather than wait. An interesting book that has helped us come to this way of thinking is entitled, “Die Broke.” Great read. And no, it doesn’t advocate irresponsible spending.</p>
<p>edad, I’m really glad you brought up the topic of the fancy wedding. People don’t seem to think twice about dropping $25,000 for a nice wedding. I don’t begrudge them that, but it’s not how I would spend my money.</p>
<p>So, to the OP…you always have to ask yourself “is it worth it to me?” It’s okay to get opinions, but you’re the only one who will ever know the correct answer, and only your answer will be correct.</p>
<p>We are making the same decision, and will probably go for the hefty tuition awards: they pay her, rather than we pay them. A couple of things have helped here. </p>
<p>First, we were told by a long time college administrator at D1’s school that “college is rarely make or break for any one.” D1 went to a small, relatively unknown school; majored in a small department; and is now on her way to a fully funded/supported PhD program of her choice. </p>
<p>Second, I looked at the Calculus text book D2 is using; wouldn’t you know it, two of the profs teach at one of the prestigious liberal arts institutions to which she was accepted (no money). I’ve never even heard of the undergrad institution to which one of them went! It’s not even on CC! “College is rarely make or break for anyone.”</p>
<p>Finally, I was talking to a good friend of mine who has taught PhD students at a top ten university and an Ivy. He commented that over the years his best students have come from the small LACs, where they didn’t fall through the cracks and got personal attention. some of those institutions don’t make the CC top 20, and don’t even make CC. </p>
<p>Would she have a different experience at different colleges? No doubt. But what we will be able to do alongside her college experience with 200,000 struck us as considerable, especially if she heads to med school (a distant possibility).</p>
<p>I’m not saying this is right for everyone, and I still struggle with the final decision, but in some ways it does seem like a no brainer. </p>
<p>Best wishes as you struggle with your decision.</p>
<p>If one knows grad school is where one will end up, then undergrad is largely irrelevant as long as one is a top performer, has the requisite research experience, good GRE’s, and good recommendations. I have said this many times before, I don’t think anyone has asked where I went to undergrad school for 30 years. When introduced it is always the grad school and still, after all this time, occasionally with whom I trained.</p>
<p>$25,000 would not be enough for a nice wedding. Four to ten times that amount would just put you in the “nice” territory.</p>
<p>BarIIo, You’re kidding right!</p>
<p>Around here sadly, $25,000 would be “wedding lite”…I shudder every time I start to think about it.</p>
<p>We’ve been to Bar and Bat Mitzvah’s of friends of the kids that I know had to well north of that number and I mean WELL north!</p>
<p>Wow! I hope my kids elope. I would rather give them money for a downpayment on a house. That’s just nuts to spend 25k-100k on a PARTY, IMHO. Of course there are those on this board who have that kind of money, no problem. But for us…problem.</p>
<p>Weddings can run that amount if you want to spend that kind of money for one day. Money doesn’t make it nicer, fancier, but not nicer. I’ve been to weddings at swanky catering halls, in backyards, at country clubs, in the church basement, in the VFW, at the beach and in a tent in a park. Each one has been nice. Some had bands, others DJ’s, and one just had a bunch of CD’s playing on a boom box. The food has been cake and punch, barbecue, Chinese, a catered buffet and one made by the families, and full six course meals. I’ve enjoyed them all. My favorite was western themed with hay bales, square dancing and a stretch limo pick up truck. Each reflected what the couple wanted and could afford.</p>
<p>In my neck of the woods a $25,000 wedding is nowhere near the high end.</p>
<p>As to the original question, having gone to an inexpensive, relatively unknown school myself, received a fine education and gone on to a top-10 law school, I don’t see the value in the $200,000 private school for most kids. I am sure there are exceptions - kids who will thrive so much more in that environment that it is worth the cost for parents who can afford it - but my children are unlikely to fall into that category.</p>
<p>As the other posters have said, it is really a personal and family decision. Sometimes it is worth every bit of an outrageous amount for a student to go to a particular college/program over other options. Sometimes it is not.</p>
<p>So far, it’s been worth every dime for us.</p>
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<p>H & I eloped, many years ago, much to our parents’ delight (who wants to spend that kinda $$$$?)</p>
<p>We got the same thrill from our $10 license, married at City Hall in NYC, as any Trump-style shindig. It still remains the happiest day of my life.</p>
<p>And yes, my parents gave us a downpayment on our house, which we were able to pay off years ago, which is why our EFC is crazy high, which is why we’ll have to pay full freight for our kids’ schooling.</p>
<p>Oy. Is life good, or what?</p>
<p>Neighbors of ours had a huge wedding for their daughter a few years ago. She’s home now with a little one. I don’t think it lasted 3 years. She does have her college degree and a job, but I guess can’t make enough to pay the high rents around here. </p>
<p>Heyalb, your primary residence is not included in the FAFSA EFC. The problem may be with PROFILE schools that do look at home equity. You may want to see what if the value of your house as you reported is current with today’s market.</p>
<p>
If you are going for PhD, your undergrad degree (quality of the program, quality of recommendations, quality of your research/publications/etc) will determine which grad program you will get into. LACs are among the top producers of future PhDs for a reason…</p>