Here’s a current thread asking the same question:
Putting this on the ND page, but could really apply to any higher cost institution.
We just spend a great couple of days at Notre Dame’s admitted student weekend. My daughter loves the school and we were impressed with the program and obvious seriousness they take in providing a good education, and working to try to ensure good student outcomes.
My problem is the price tag. I grew up in fairly modest means, and have been lucky to have had a good paying career. My wife and I have saved diligently, often foregoing spendy activities simply because we prioritized savings. Because of corporate mergers, both of us had to take early retirement and at this stage in our careers, finding another position has been tough. Our savings will carry us through, so no problem.
However, because of this, our daughter will receive no need based aid, and merit at highly selective programs is rare … so it’s a full $82k/year for us, plus a likely 3 to 5% increase each year. This puts the cost of her underg…
ETA: If the $100k is ‘available’ but it is part of your retirement, sounds like you’d be borrowing from yourself. The question is one only you can answer…can you spend those funds earmarked for retirement for education and still be confident of your retirement plans?
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