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<p>But that’s precisely what we’re talking about. Why would HYP be worthy of the $55K - for a family who has decided that $55K is in the budget - but not any of these EQUALLY GOOD LAC’s? HYP (or HYPSM, or the Ivy League as a whole, whatever) are not these “elevated” universities that are so far and above other top universities and the top LAC’s that we are talking about here.</p>
<p>I’m going to say…we DID pay that amount for a school with virtually NO NAME recognition in our part of the country. Fact was…it was our child’s NUMBER ONE college choice and a fine one at that. It doesn’t appear on the US News university or LAC lists because it is a “Masters University” a group of colleges that frequently gets completely ignored. This school offered our kid an outstanding education (since my husband is in the field of ONE of her two majors…he was able to make a good judgement about this). In addition, the school focuses on undergrads…has some masters programs. There are NO teaching assistants…none…not even for lab courses. The personal attention was top notch. They even helped her extensively when she had to have emergency surgery her senior year. The school, her advisor and the dean of students worked WITH her so she could graduate on time…with two majors. Was it worth the cost? It was to us. But it might not be to other full pay parents who want a brand name decal for their car. </p>
<p>The number one criteria we used when our kids were looking at colleges (we also KNEW we would be paying the price) was THEIR interest in the schools…not ours. </p>
<p>I would venture that if the OPs daughter wants to see Williams, Amherst and Middlebury…she should do so…if the family is able to make the trip. That is a two day college trip…the schools are not that far from one another (well…Middlebury is sort of out there). They are fabulous college campuses with wonderful programs. We know graduates of all three and they all were mighty happy there…and pleased with their educations. Their parents were too.</p>
<p>THANK YOU, sunnyholiday, for saying what I couldn’t (or couldn’t bring myself to :-)). Bay, as far as “just tell him”, what I’d be telling him is “we’re willing to pay for schools A, B, C but you couldn’t get in so now we’re hedging about paying for the matches, so please just drop down to your safeties, because you liked them all just about the same, so let’s save the dough.” And, he’d be OK with it, I guess, because the college fund would be waiting for him in four years which is a big deal. The message just makes me feel a little dirty.</p>
<p>And yes Pizzagirl, I apologize because I do think this is a tangent from the OP’s original question…</p>
<p>Thumper’s approach is the opposite of our family’s, but we and our kids ended up just as happy. We did not have any problem telling them which schools we were willing to pay for, and which we were not. They were fine with that, and it helped them winnow down their choices.</p>
<p>Bay’s point is a good one…what works for one family doesn’t necessarily work for another. Different strokes for different folks.</p>
<p>But I’m still with Curmudgeon…I would not use “name recognition” as a factor in choosing a college. If that works for your family…then it’s fine.</p>
<p>Sorry, Pizzagirl, we aren’t ignoring you.</p>
<p>You are absolutely right. The dream school, or the perfect fit, or whatever you want to call it, CAN be a top university, or an LAC that has no serious name-recognition, or whatever. If it is perfect for you, it’s perfect. It can be a tiny school or a huge school.</p>
<p>It just happens that small selective LACs are often kinda pricey, and that’s part of what has sewhappy mulling the question…</p>
<p>Thank you sunnyholiday (love the moniker!) and Mutti – you both seem to discern exactly where I’m at with this.</p>
<p>Thumper, I’m well aware that ED is binding. What I’m wondering aloud is if I hauled DD off to see these LACs might she decide one is fantastic, better than the current dream school, and that she loves it so much she is fine with an acceptance being binding.</p>
<p>And yes, the name recognition enters my thinking a bit. It isn’t everything, of course, but it does carry some value in life. It’s madness, of course, but that’s why 30,000 kids apply to Harvard. Does name recognition dictate our college search? No, but it is part of the equation for us. Along with the 30,000 or so other families whose kids will be applying to HYPS.</p>
<p>I’m also worried about DD setting her sights to high on her early application and suspect that an LAC applied to ED might be slightly more attainable.</p>
<p>Finally, am I really not even allowed a small “sigh” over paying full freight?? Must I be scolded when so many families in our financial situation would absolutely tell their kids it’s either loans or state U?</p>
<p>the more i read the thread…the more i am happy with the decision we made…son was accepted to schools ranging from 80K to 180K for 4 years. got good merit aid at most (made some more affordable) He was sure he would only be happy at one…turns out he was wrong…very happy at the one he is at. But with todays economy, the increases in tuitions that will hit during the next four years, job losses, stock market, grad school funding to consider, chance of a job after graduating…all those things combined make me happy that son will graduate with no loans, no loans by us… and free and clear. Schools are what you make of the, all his acceptances were at tier one schools, some large uni, some lac’s… he has made his school his and embraced it fully and it wasnt the one that cost 180K… just my opinion as i guess i dont think the name or the price tag necessarily define the quality of the school…</p>
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<p>30.000 kids applied to Boston University too. Just saying 
as the proud parent of a BU alum.</p>
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<p>Why are some people willing to pay $55K for a Mercedes and not for an equally good Lexus?</p>
<p>Why would some people pay $1 million for house in Greenwich, CT but not for an equally good house in Stamford?</p>
<p>There is no absolute budget for a school any more than there is for a house, a car or any other expensive asset. Many factors are at play: academic reputation, reputation among employers, international reputation, reputation in local community, ROI, career placement, starting salaries, strength of alumni organization, personal satisfaction, grad school success rate, med school admission rate…</p>
<p>No two schools are possibly alike across all these factors. For many, the simple fact that LACs limited reputation beyond a narrow circle of cognoscenti is enough to warrant a discount. It is estimated that over 80% of Apple’s market value is derived from its brand name alone. The Samsung tablet may actually be better than the Ipad but many people will pay more for the Ipad than a similar tablet even if produced by a well known manufacturer. The value of nearly all products in a modern economy are based on signaling effects. </p>
<p>This signaling effect also holds true for services. Whether you are a physician, a lawyer, an engineer, a movie director your value is in large part derived from the perception that others have of your work. This perception is often tied to your academic credentials. A Harvard trained physician, MIT trained entrepreneur, or Julliard trained artist will get a boost that equally good people without the same credentials will not get. That “boost” has quantifiable value. Academia is the absolute worst in regards to “elite” selectivity. So, is Wall Street, the venture capital community, the legal and medical communities. Unless you are a Harvard or Yale law graduate, your chances of being appointed to the Supreme Court are virtually nil. </p>
<p>For my own kids, I am already seeing the signaling effects of their education. D1, who went to MIT, had no problems getting access to well paying summer internships and job offers while many of her HS friends also at excellent schools, were struggling to get any jobs at all. There was this assumption that she had to be really smart to be at MIT. She obviously needed to prove herself but just getting the initial interview was denied to 95% of potential candidates, just based on what college they went to. </p>
<p>Obviously, signaling effect is not everything, but in this horrible economy, where graduates are struggling, it can make the difference between getting a good job and no job at all. It can make the difference between getting into a top PhD program and a lower tier program, getting into a top law school. In good times, it may open doors that others may not even know exist. </p>
<p>At that point what is the value of the degree? Priceless!</p>
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I get what you’re saying, but come on. There are nine Supreme Court Justices with lifetime appointments. Even if you are a Harvard or Yale law grad your chances are basically nil.</p>
<p>and even less of Congress approving you.</p>
<p>My friend sent her average IQ son to local LAC, rather than CC (he wasn’t accepted at many state U’s). He got personal attention, jobs, internships, and a chance to complete their MA program. He realized that was too hard, but is working in his field. </p>
<p>Her other son could go to state flagship, honors program, and flourish. Parents are very pleased they could send S1 to the LAC</p>
<p>^. This also holds mostly true at lower echelons. Over 149 sitting US Federal judges are Harvard Law school graduates. Corporate law is just as much a prestige w***e.</p>
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Ha! Over 37,000 to NYU. —NYU alum parent ;)</p>
<p>I would guess that a full 40-50% of the kids at any super selective private college don’t get any financial aid at all. (used to be closer to 50% before the bad economy set in)</p>
<p>^ That’s impressive. What are their acceptance rates?</p>
<p>And, btw, would consider NYU and BU “name” schools – a good deal more name recognition than most any LAC, except some of the seven sister schools, perhaps.</p>
<p>About name recognition, if it is important to you then you should use it as a criteria in your selection process. Some people don’t care about it, some people do, there is no right or wrong position.</p>
<p>And yes, you should sigh about being a full-pay at a private school. Sigh, complain even. Only but the most affluent families wouldn’t feel this expense.</p>
<p>Using collegeboard figures, I did a quick and dirty calculation of full paying parents at the following colleges. Full pay parents have a lot of company…</p>
<p>Harvard (7% acceptance rate), 37% full pay
Dartmouth (12% acceptance rate), 46% full pay
Amherst (15% acceptance rate), 39% full pay
Williams (19% acceptance rate), 47% full pay
Carleton (31% acceptance rate), 48% full pay
Middlebury (17% acceptance rate), 59% full pay
Pomona (15% acceptance rate), 50% full pay</p>
<p>I think if you are looking for real name recognition, maybe you should be looking at schools that are basketball or football powerhouses because many more people know them and the stats to boot ;).</p>