What families are willing to pay for college - survey results

[ucbalumnus]

<p>However, a generation ago, “working one’s way through college” without needing to live with one’s parents was more possible than today. The need to live with one’s parents (assuming that they are willing to continue providing room and board) to do so now imposes constraints that can be more limiting to the student’s college opportunities compared to a generation ago:</p>

<ul>
<li>The nearby state university may not have the intended major.</li>
<li>The nearby state university may still be too expensive (in California, UC tuition is about four times as much in inflation-adjusted dollars as it was in the 1980s; CSU tuition is also much more expensive than it was).</li>
<li>The nearby state university may be too selective and the student may not get admitted.</li>
<li>The parents may move away from commuting range of the nearby state university that the student was commuting to.</li>
<li>The parents may become unable to continue to support the student living with them.</li>
</ul>

[Newstudentmom]

<p>I personally feel that 10% of gross income for tuition + room & board would be fair. We are aying significantly more than that now, and it is not easy, but we manage.</p>

[ace550]

<p>

“Even for people who theoretically had advantages, who would be the traditional market for private higher education, they’re saying, ‘Look, unless my son or daughter is talented enough to be attracted and admitted to a truly elite place, is it worth it paying that higher price?’ ” said Dan Lundquist, vice president for marketing and enrollment at the Sage Colleges who also runs the Education Consultancy, in an interview earlier this month.

</p>

<p>This is exactly correct. I may add that the ability of the students and their determination to work hard will have a major impact on the willingness of parents to pay that extra money. I seriously doubt any parent would not be willing to pay 15-20% of their gross income or 3-5% of their net worth per year for the expense of a top 5 school in the specific field if their student has the potential to become future US senator, cabinet member, supreme court judge, ferderal reserve governor, Nobel Prize winner, etc.</p>

[Joblue]

<p>

I seriously doubt any parent would not be willing to pay 15-20% of their gross income or 3-5% of their net worth per year for the expense of a top 5 school in the specific field if their student has the potential to become future US senator, cabinet member, supreme court judge, ferderal reserve governor, Nobel Prize winner, etc.

</p>

<p>Given the limited objectivity of virtually ALL parents concerning our beloved children, I’m wondering how many parents can really tell if their 17 year old offspring has the potential to be in one of the high-status positions you mention.</p>

<p>Besides, if the kid is that amazing they will be amazing at a school that doesn’t require 20% of their gross income.</p>