<p>cur, that's one of the reasons I would no way advocate this.
I just wonder -- idle speculation -- what the landscape would look like. No application frenzy? Lots of rich international students? Or would the "Gibson middle class" still be strong enough in numbers and resources to more than fill up all the slots?</p>
<p>The thing that bothers me about the OP's attitude seems to be the fact that he was hit over the head with the cost of college all of a sudden</p>
<p>Hello!!!!!!</p>
<p>All of us have 18+ years to plan and save for our childrens college. Eighteen+ years! </p>
<p>The time to begin considering the cost of college for each child is the minute that child is born or in utero. You know there will probably be a big bill due 18 years hence and if you fail to begin a college fund then shame on you.</p>
<p>No, most families will not be able to have saved $200k during that 18 yr period but with wise investing and reasonable spending habits most will be able to get a quarter of the way there or better.</p>
<p>Two things occured when our son was born. First we sold our first home to buy our second which we still live in. We took $5000 of the cap gain on the first to set up his college fund. Second my mom gave $7500 to each grandchild as seed money for a college fund. We never put in another cent and invested conservatively and by the time he graduated the college fund had grown to $76000.</p>
<p>There are many ways a family can do a similar thing. Want that $30,000 new car? Think of little Mikey, buy a basic Hyundai Elantra for $18,000 and bank the diifference into a college fund. Doing a refi? Maintain the same monthly payment but take out $10,000 in equity to start Miley's college fund.</p>
<p>I have zero, zilch, nada, no sympathy for families who have disposible income but fail to take advantage of that 18 year saving period. Get real.</p>
<p>thinking overnight - </p>
<p>two scenarios - (the numbers are just for fun -btw)
Family A - Zero savings, income of $150,000, a efc of $40,000</p>
<p>Family B - $300000 savings, income of $150,000. efc of $55,000</p>
<p>The OP claims that family B is "penalized for saving" and has a lower efc. Has an issue with the extra $15,000 in EFC.</p>
<p>Reality - Family A, is going to be hard pressed to come up with the efc. Even if Jr gets into a 100% need college - it just ain't gonna be easy.</p>
<p>Family B - won't be easy either BUT - they were frugal and sacrificed the swimming pool, yearly vacations, new cars and jr's summer in europe program.
they have $300,000 of savings which if invested wisely earns 8% will produce $24,000 each year. without dipping into the capital.
Even if the return is lower it is still a significant sum that can be used toward a "lesser" school - one of those "State U's".</p>
<p>Family B and their child are going to have a MUCH easier time of financing college - even with the lower "efc".
Family A - does not really "win" by not saving.</p>
<p>
[quote]
what the landscape would look like. No application frenzy? Lots of rich international students? Or would the "Gibson middle class" still be strong enough in numbers and resources to more than fill up all the slots?
[/quote]
</p>
<p>the landscape would be white and wealthy and elitist. The academic rigor would most surely drop because of a lack of competition.
Curmeogeon is correct - turn the clock back 50 years. The Ivy's were not nearly as academically rigorous as they are today.</p>
<p>"Last night I was with a group of people who started talking about all the places they had flown for free with their frequent flyer miles. I can't afford to travel a lot, so I've never accumulated enough flyer miles to go anywhere. So even though I have less money, I have to pay for seats on flights while they can fly for free. So is "unfair" that I have to actually pay for the plane ticket?</p>
<p>Last week I wanted to make reservations for a hotel when my son graduates from college. It turned out that the hotel offered a corporate rate that was a 20% discount off of the rack rate... but I didn't qualify for the corporate rate because I don't happen to be employed by a company that pays me a corporate salary. So... is it unfair that the hotel gives discounts to people who are undoubtedly richer than me?</p>
<p>I just can't see how it becomes "unfair" for one person to pay sticker price for a commodity, whether it is a plane ticket or a hotel room or a college education, simply because they offer some sort of discount to someone else."</p>
<p>You are paying less, you are getting a discount, because you are a good customer, or the corporation you work for is a good customer. </p>
<p>Those examples are not similar to the college cost example.</p>
<p>I have no idea why so many people want to rationalize away what the OP said.</p>
<p>What the OP said was true and all the rationalizations don't change that fact.</p>
<p>
[quote]
Let me ask you this: do you think it is worth $48K to send your d to her college?
[/quote]
</p>
<p>Honestly, I don't know the answer to that. Obviously, we're hoping it will be worth it for her in the long run. I don't think it is "unfair" that I must pay the sticker price, that was my choice. But I think those who tell others to just shut-up or don't go there have it wrong. Nothing changes if people don't voice their opinion.</p>
<p>Do you verbally lament about the high price of gasoline? Why would you, when you can simply walk or ride a bike instead?</p>
<p>So, I think we have established that FA is not applied consistently and can be unfair to many families. So what is the answer? More government control of private institutions?
Griping is fine but I don't follow the whole "I'm bitter, and let's rise up and all send our children to state schools" routine.<br>
It's obvious to me that a place like Emory doesn't need to offer generous FA or merit packages. They can still fill their seats with good students. Other schools are more generous. If you want money for school, find them. They're out there.<br>
I think what's particularly annoying here is the emphasis on going to an elite school. The OP's d has a fine offer from her state U - but that's not good enough. Why not? I can't muster up much sympathy here...but then I am one of those state college muts who did just fine.<br>
No, I wouldn't walk or ride a bike to work with gas prices what they are (not possible) . But I might find a way to car pool. Or take public trans. In the meantime, I might try to understand the situation better and put my votes in for candidates I think might help. But cry that life is bitter and unfair?<br>
Know the system. Work the system. Make the best of what you got. Life is too short to fight windmills.</p>
<p>According to data on USNews Emory meets 100% of financial need for 100% of their students.</p>
<p>Also, for college professors there is not only the exchange program. I know that professors are entitled to other tuition discounts. I would think the offers vary depending upon the university where the professor would be employed.</p>
<p>I like the examples in #163. I think OP also complaint about another type of family - those with zero EFC. If their kid do get into one of the top school and they will have zero to pay. However, the odds for one of such student to get into a top school is lower, I think, than a family with 300K in saving.</p>
<p>BTW, we started a carpool since the beginning of the year, the savings are adding up nicely.</p>
<p>Actually Emory is pretty generous with FA to folks with incomes less than 100k. They just put in new rules to eliminate or at least limit loans in that income category. Those with incomes over 100k might need to depend on merit aid - there they are NOT very generous. Know the system...</p>
<p>Tuition discounts for professors' kids vary widely and wildly. Our kids are entitled to 1/2 tuition discount (no discount on any of the many fees) at the university campus at which H is a professor--and nowhere else.</p>
<p>A friend of my son could have attended a few LACs in the midwest tuition free because of his mother's job at a small LAC, but not the one he went to.</p>
<p>On the other hand, just about any employee at one particular top private university can get a fantastic deal on tuition to any accredited university or college--70% tuition, I think.</p>
<p>
[quote]
Also, for college professors there is not only the exchange program. I know that professors are entitled to other tuition discounts. I would think the offers vary depending upon the university where the professor would be employed.
[/quote]
I don't know how all that works out when one of the employers is the U.S..;)
</p>
<p>side step the thread a little. I wish I had read this thread before starting posting on CC. People are very good at connecting dots. A couple sentenses here and a couple sentenses there, very soon you get a PM with your real name spelled out.</p>
<p>curm, sorry, that went over my head ;) (US?).</p>
<p>midmo, I know a college professor and she is allowed to pay for college tuition (instate public school) through her employer in pretax dollars. I don't know exactly how that works, but basically it amount to 30% off the tuition portion only.</p>
<p>Yes, northeastmom, it is "us". The United States. Or "we" as in "we the people" not "oui" like the french. That would be sad. But I do like fries. Where were we again? ;)</p>
<p>I don't know, but somewhere along the line I think I took a flight to Paris, while you stayed in the US, because I have no idea about what you meant in post #172.</p>
<p><psssst. i="" think="" the="" op="" was="" a="" prof="" at="" af="" academy="" for="" substantial="" part="" of="" his="" her="" career.="" don't="" know="" that="" there="" is="" tuition="" exchange="" would="" apply.="" no="" reciprocity="" could="" be="" offered.="" nothing="" to="" exchange.=""></psssst.></p>
<p>"allowed to pay for college tuition (instate public school) through her employer in pretax dollars."....</p>
<p>Now THAT would be cool...</p>
<p>dad11 - agree with your note to be careful about what you post. Job details, school details, number of kids, geographic location, all easily found by looking back at old posts.
It seems we can play a guess the OP game here...maybe that's why he or she has gone away!
As a side note, as a long time poster, I'm happy they only keep a certain amount of history on CC- maybe 6 months or a year.</p>
<p>You can go back much further if you search right...at least to '06.</p>