<p>Oh please, are we really arguing about whether or not you can get really good internships at a non-Ivy? Or whether or not Michigan is one of the best schools in the nation? </p>
<p>Michigan is ranked well in the top 10 for almost every graduate program and is up there for undergrad as well. I went to MSU. I am a Sparty through and through- I do not bleed blue in any way. However, I also can’t ignore the fact that it’s a top institution. I am here for grad school because of its ranking in my program (among other things) which is top 3/4 in the nation depending on the year. </p>
<p>edison, please wait until you actually get into college before you start throwing around statements that clearly show you have zero idea what you’re talking about. </p>
<p>Comically enough, it is not.
Right there in the name of the thread it says “(or private university)”</p>
<p>It seems that some people here are very anti-Ivy and so have made it, yet another, “Ivy’s aren’t as good as people think thread”.</p>
<p>Shame, because the original topic is an interesting one. I know people who are “rich enough” that their kids don’t get assistance, but are no where near rich enough that writing a 260k check for each of their kids puts a serious dent in their financial situation.</p>
<p>“Shame, because the original topic is an interesting one. I know people who are “rich enough” that their kids don’t get assistance, but are no where near rich enough that writing a 260k check for each of their kids puts a serious dent in their financial situation.” <== my cousin is taking out loans. I don’t really see the mystery on “how” to pay for an ivy if you’re middle class; you do a CBA and determine if what you’re getting from the school is worth the cost of the loans, etc. some people have this aversion to student loan debt. incredibly smart people leave six figure jobs and take out $120k+ to get an mba from a top b school each year. I also don’t know where $260k comes from. If you got literally zero aid from harvard you’re probably a millionaire. getting into one of the world’s best colleges requires a serious amount of dedication and parental involvement. I question why anyone would commit themselves to that grind over four years if you weren’t prepared to take on some loans?</p>
<p>The thread is about Ivy’s and private colleges.
There are plenty of colleges that don’t have the generosity of Harvard.</p>
<p>260 may be a bit high - Closer to 240k (60k a year) - then add on travel costs, maybe a bit higher.</p>
<p>You don’t have to be a millionaire - just earn less than 1500k (or whatever the cut off is). Now, that doesn’t mean that your parents earned that every year, just recently. They may have been living off of savings during the recession and only recently got their jobs, or recently got promoted with a raise.</p>
<p>So 4 kids at 240k is about a million dollars. If you are making $150k, and paying 30% taxes (more in Hawaii, NY, CA) that is 10 years of salary, assuming that you had no expenses during those years).</p>
<p>I know my numbers aren’t exact, but close enough to make the meta-point.</p>
<p>The original question posed was how do people pay for it. </p>
<p>Assuming you are at an income level where it is possible at all, you decide how much you’re willing to sacrifice as a parent to save money for college, or you decide how much you’re willing to sacrifice later to go into debt to pay for college (either parents or student). Once you decide what your pain level is, you determine what you can pay for with the money that will net you.</p>
<p>It is possible to live and put every possible cent in the bank to save for college. Some people who choose to be very severe about their savings are able to pay for more. Power to them – that is their choice; however, it is not reasonable for them to be judgmental and “smug” regarding others who don’t make that choice.</p>
<p>Again, I repeat, Ivies and top private schools are not necessities. Going to an Ivy or an expensive top private school is a luxury, and just like other luxuries, only the consumer can decide what that is worth to the individual consumer.</p>
<p>Most of us have to settle for “good enough” rather than “the best” in almost everything. And a large number of people survive and thrive with “good enough.”</p>
<p>Just generally speaking, a lot of people would be better served and less offensive if they didn’t take the position that everyone who doesn’t make the same choices they do is an idiot or immoral. Not to mention that those who have been fortunate sometimes forget that others have problems that are not always self-inflicted, including health issues and bad economic conditions, which can cause a decrease in income.</p>
<p>Sweetie, there are a couple hundred schools in this country alone that can give a talented, hard-working student incredible opportunities. </p>
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<p>At Princeton (most generous IIRC), Harvard, Yale and Stanford families receiving no need-based aid generally have incomes over $180k. I’m sure that many such families are technically millionaires, but having $1m in assets does not mean that one can easily write $60k+/year checks. For many other super-selective private schools which can’t offer super-generous financial aid do indeed tell non-millionaire families that they’ll receive no aid. You can easily verify this for yourself if you’re so inclined by running a Net Price Calculator for, say, Brown. </p>
<p>It’s wonderful that you’re going to one of the Ivy League schools, and that you’re the first in your family to go to college. Congratulations! </p>
<p>Bingo!
Besides, just because your family earned 180k over the last several years, does not mean that they earned that amount for the last 18 years.</p>
<p>“but having $1m in assets does not mean that one can easily write $60k+/year checks”</p>
<p><== If parents are worth north of $1M and can’t afford to send their child to an Ivy (and the child can’t access any aid because of parents net worth), the parents have very likely made some irresponsible financial decisions. Sell the BMW, hold off on the kitchen remodel, did you really have to go to Hawaii last year knowing your child was gunning for an expensive Ivy? It’s not like a child randomly gets into UChicago or Yale, it’s likely been pursued for four or more years.</p>
<p>This is true. What people seem unable to grasp is that not all top students WANT to go to an Ivy League school. Some of them want to go to Michigan, or Alabama, or any number of other colleges including LACs and religious institutions. The Ivies don’t have all the top students. And despite what edison wants to believe, they don’t have a lock on well-connected rich people to rub elbows with.</p>
<p>What an incredibly ignorant (actually, I’ll be generous and call it naive) statement.
You have no idea where those assets came from or whether or not they are still being added to. If they had made some “irresponsible financial decisions” then they wouldn’t have $1M in assets more than likely. </p>
<p>I’ll give you an example of one instance where you wouldn’t draw from those accounts that has nothing to do with “irresponsibility”: my dad was totally and permanently disabled when he was in his mid-40s from a car accident. If we had $1M in assets (we don’t), that would literally be all that he had to live on for the rest of his life. It seems like a lot, but it’s not when he will likely live another 40+ years and have medical bills. </p>
<p>You’re talking about wiping out 1/4 of assets for an education. What if the family has 2 or 3 kids? </p>
<p>Look, I think as much as the next person that parents should contribute what they are able to for their kid’s education, but I also think you’re painting with a broad brush. </p>
<p>OTOH, I know people who are very well off (income 6-digits, assets 7 digits) who could almost easily write 60k+ checks for their kid’s education but don’t think a 60k+ degree is worth it. I honestly can’t say I blame them. </p>
<p>Good example. It would also apply to families with $1 million in their 401K but still have a mortgage, work for a living, and have several children to educate. They shouldn’t be classified as irresponsible. </p>
<p>Are people really saying that the Ivies don’t live up to their hype? Do you realize what opportunities they offer? What you’re paying for is not just an undergrad or grad school. You’re paying for a superb education as well as opportunities to build NETWORKS. If the student works hard, they can definitely get further than the regular student at another college. Obviously, it’s more than possible to do well in other schools too. No one’s saying that other schools can’t rank as high or whatever it is. It’s just that the Ivies do offer a lot and some kids could really benefit from the world-class education and challenging curricula. </p>
<p>And what do those of you talking about altruism even mean? Staying in your town to do charity work?</p>
<p>Just because someone says that there are a lot of well connected rich people at Ivies, does not mean that they said that is an exclusive feature of the Ivies “a lock”.</p>
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<p>Same here. It astonishes me that just because someone says that going to an Ivy may give access to cool trips and exciting internships does not mean that they are the ONLY ticket.</p>
<p>Yes. today I learned that people leave Ivies because they want more than "the 3 Rs of recognition, ratings and reputation</p>
<p>Perhaps students at the Ivies should spend more class time learning about marketing since that appears to be the only thing these colleges are good at </p>
<p>This is all quite contradictory. Students can do well at other schools, but somehow if you attend an Ivy League school you get further than a student (a regular student? what’s that?) at a different school. Some kids could benefit from a great/challenging education (apparently only within the Ivy League) but other schools can “rank” as high. </p>
<p>I’ve got a D at Tufts who’s getting a world-class superb education with a challenging curriculum. Incredible opportunities, networking, blahblahblah. That’s not at all unique to Tufts–it’s true of many schools. Believing that you can only get that kind of superlative college experience at a handful of specific colleges is blinkered thinking. </p>
<p>Sigh. This thread is about Ivys and private universities. Not just a handful of specific colleges.</p>
<p>Since Tufts is in the top 30 and has tuition and fees higher than Harvard, Princeton, Yale, Stanford, MIT, Duke and others, I would certainly hope one could get a good education there.</p>
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