Wow, that is a lot!
2 Likes
Everyoneâs reasons for it being âworth itâ will differ. As a parent, I think itâs a perfect school for our applicant. They meet/exceed the stats, but so do the majority of Stanfordâs applicants. Should our applicant be lucky enough to be accepted, we would definitely send them.
Regardless, they had a great time writing the letter to their future Stanford roommate 
.
1 Like
it is a lot! too many. but couldnât talk her into trimming the list (note thereâs 7 UC applications in that number based on a single âsubmissionâ though).
3 Likes
Itâs an ~$82k COA, not just tuition (donât want any confusion - tuition is just over $61K).
Iâll admit I lolâd reading that article, especially the part where it shares that Yaleâs COA comes in right around $84k. Loved they chose a comparison that makes them look generous and Yale cheapskates (Yale only gives full-need rides to families making $75K/yr, Stanford will give full-need rides up to $100K/yr).
Donât have thoughts about whether someone else thinks it is worth paying. We all get to make our own consumer purchasing decisions, and I donât think all that much about what cars other people buy either (either positively or negatively).
10 Likes
I wasnât asking for thoughts on someone elseâs perception but I get your general point. Every year, there is a lot of people who gloss over the cost and value discussion because of either rankings, or social pressure, or both. The lucky few among these end up with a nerve wracking dilemma on their hands when it comes to decision time, often agaonizing over the cost vs. prestige question.
My personal opinion is that a 7% hike is pretty steep and I wonder if Stanford admissions has a target for âfull payâ students much like how some of the UCs loaded up on OOS admits post the 2007 market collapse.
3 Likes
Worth it, unless it one has to take out huge loans! We are full pay(its been just under 80k so far) at Duke and its worth every penny. Family friend kid at Stanford and loves it/worth it.
3 Likes
Ahh, I better understand what you are talking about now, thank you for clarifying. 
1 Like
I love hearing when students find the right match and it is working out as they had hoped it would!
4 Likes
I think the question of âworthâ always depends on what has to be sacrificed for something else.
I know people for whom $85,000/year would mean almost no change to daily life or even really retirement in the sense that they already have more saved in retirement funds than most Americans, including my family, will ever, ever have for retirement, and they are only 50 years old with more time to save. So for those families, it could easily be âworth itâ because what is it âcostingâ? Nothing, really. No sacrifices at all. Only more luxuries.
For other families, $85,000 a year would feed, house, clothe, and transport the whole family for that year, plus pay for some savings in retirement and maybe, if lucky, medical costs for the year, since that COA is actually above the median American household income. So no, it would not be âworth itâ to spend the entire household income plus on one child.
For other families, like mine with ânon-typicalâ assets for income according to the FAFSA or financial aid offices, we could liquidate everything and pay for one child (which one to pick?) to go to a school costing $85,000/year for four years, but at the end of those four years, we would literally have no savings at all, no home equity at all, two cars with 200,000+ miles on each of them assuming that they havenât died completely, and maybe $100,000 total saved toward retirement (without pensions either) assuming no medical emergencies in the next four years, and with my health issues that is unlikely. So for us, it could never be âworth itâ since it would sacrifice health and what security we have eked out.
The trouble with the question is that âworthâ is relative to what you have/what it actually âcostsâ your family. If it only âcostsâ nicer vacations in retirement or cars now or a beach house, it is one thing, If it âcostsâ follow up medical care, having a place to live in retirement (or now) that isnât completely dangerous, food, etc. that is another thing.
I just try not to think about how the âright fitâ college for my children might have been/likely was a school we canât afford, but that other people working no harder than we do can easily afford. Finances arenât especially fair, and it is better for my family to just ignore it than to dwell.
27 Likes
You summarize it very eloquently. I think the equation is difficult because the cost is often paid by the parents and siblings while the perceived benefits accrue mainly to the student. And when a kid gets into Stanford or another expensive Ivy, they are at the mercy of their parents and for some it can be a source of conflict and financial strife. All the more reason to run NPC and agree to a $ outlay before the student starts applications.
2 Likes
@#*#!&!$
FSU thread.
That is all.
YeahâŠIâd stay away from that. 
3 Likes
Wow! Thatâs really all I can say.
And I agree with FLMom2021, stay away⊠if for nothing else, for your own mental health.
2 Likes
Stanford along with Princeton and Harvard donât make the best examples as they do give the best Financial Aid so the people that are full pay at those schools have a relatively high income/assets. I suppose there is a âsweetâ (more like sour) spot of the people that are close to the full pay line where itâs going to be a decision.
1 Like
When I saw the title of the Stanford article, the 7% hike seemed like it was going to pay for the student aid. Raise one, reduce for the other.
What happened?
1 Like
We are full pay at all those schools and cannot realistically afford.
I have a high stat kid, apply anywhere at a top 15 public on half tuition graduating this year. Zero regrets and he has had a top notch college experience at a very comfortable price point for us and zero debt for him. And yes, he did get into some high end privates.
2 Likes
These schools are seeking kids with need to diversify. They figure if youâd pay $80k you can pay $90k. Like me, you may choose not to.
If you owned a Benz and the price goes up youâre not buying an Acura.
But they want those with need - itâs part of their institutional goals.
5 Likes
Absolutely. Middle class is underrepresented at high end privates.
8 Likes
Itâs to the advantage of all these publics that buy these same kids. Ivy level kids are EVERYWHERE (meaning at flagship type schools nationwide) including at many schools most find lacking in prestige.
You get 4 years for the price of one or two!!
4 Likes