<p>My parents are shelling out approx. 60 grand per year for me to attend college. Of course, they tell me to not worry about it and stuff, but this, to put it bluntly, is a crapload of money. I have no idea what to do, as it is impossible for me to pay it right now, but I feel really really really bad. What would you do in my case? Should i have chosen a cheaper state school? To give you an idea of our fin. circumstances, i think we have a family income of approximately 200-300K, but im not sure. I really have no idea about personal finance either.</p>
<p>To the parents, what do you think I should do, or should have done? Are you paying for your kids' tuition?</p>
<p>To the current students, do you think paying the sticker price is worth it?</p>
<p>If you have an income of $200-300k annually, $60k/year really isn’t terribly bad. My custodial parent makes $50k/year, and we’re shelling out about $20k/year and feel we’re getting a pretty good deal. That’s 40% of our income, but full payment for you would be less than 30% of your income.</p>
<p>Your parents are not unique. There are families with less income than yours and that do not qualify for aid, but that are happy to pay full freight. You are right that it’s a lot of money, and in other families, parents might prefer to put those dollars elsewhere. It’s a good idea for you to have an ongoing dialog with them about the family philosophy for earning and spending. But be assured that some parents–apparently yours–think it’s worth it. In our case, for example, we mostly live prettly simply. But we pay the big tuition and are happy to do so.</p>
<p>I’m in a similar situation except my parents make less with large assets. Anytime I bring it up they always say “You are just spending your inheritance.” As long as you take full advantage of it and your parents back you up – I say go for it. If you are unsure about the school/what you will make of it, then that is another story.</p>
<p>I would do some thinking about why you want to go to the UChicago and talk to your parents, of course.</p>
<p>I’m a parent paying the pricey tuition to UChicago and I am happy to do it. My S does his best to contribute and spend wisely. My advice (no matter where you go to school) is to simply soak up as much of the university as you can and appreciate it!</p>