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That is the price most top private schools (Harvard, Yale, Columbia, Chicago, NW, etc) are charging. To me it just seems silly.
I could justify that for Medical/Dental/Law school but for an undergrad? Really?
You have to remember you can recover that in 1 year if placed on Wall Street. People don't go to the elite schools unless they can get in. And people who can go to the Ivy League are a motivated bunch. Its more than what anyone would want to pay but if you went to a school like Cal State Dominguez Hills (nothing against the place but it is what it is) and pay a much lower tuition, you would probably end up working at the DMV or some government office.
$31,000 isn't "much" higher than $27,000 IMO. The vast majority of the students under 24 will not be able to access the Independent Student limit levels.
PLUS loans are parent loans for undergraduates. Hence my comment about parents enabling them. An undergraduate student wouldn't be able to get those on their own. Parents are responsible for all of the principal and interest.
As of Dec '13, the average undergraduate student loan debt was $29,000. While the foolish students whose families go into $250,000 debt for four years for a Religion or Womens' Studies degree are certainly great headline fodder, they are not typical and it's misleading to suggest they are the norm rather than the rare exception.
Anyhow, my main point was (and still is) that financial aid includes a lot more than just loans, and much of it does not need to be paid back... Again, depending on the school and the student. In our case, grants were almost 4x as much as loans in the FA package. And the scholarship amounts were over 8x.
That is the price most top private schools (Harvard, Yale, Columbia, Chicago, NW, etc) are charging. To me it just seems silly.
I could justify that for Medical/Dental/Law school but for an undergrad? Really?
ya, but the top schools give great financial aid to most of their students.
You'll have to be like me (single child of parents whom make a combined income of 300k, but aren't rich by any means) to get screwed over. Duke only gave me 2k of aid after I was accepted
but it's ok, my low ranked state college (60 us news) still landed me a decent job. I still wish I went to duke though. Probably could have ended up working for microsoft
Last edited by stellastar2345; 10-13-2014 at 02:29 PM..
ya, but the top schools give great financial aid to most of their students.
You'll have to be like me (single child of parents whom make a combined income of 300k, but aren't rich by any means) to get screwed over. Duke only gave me 2k of aid after I was accepted
but it's ok, my low ranked state college (60 us news) still landed me a decent job. I still wish I went to duke though. Probably could have ended up working for microsoft
Granted your parents aren't the .1% but can you really complain?
ya, but the top schools give great financial aid to most of their students.
You'll have to be like me (single child of parents whom make a combined income of 300k, but aren't rich by any means) to get screwed over. Duke only gave me 2k of aid after I was accepted
but it's ok, my low ranked state college (60 us news) still landed me a decent job. I still wish I went to duke though. Probably could have ended up working for microsoft
If they've been making 300K, inflation-adjusted, for any significant amount of time and AREN'T millionaires, they should consider scaling back their lifestyle.
If they've been making 300K, inflation-adjusted, for any significant amount of time and AREN'T millionaires, they should consider scaling back their lifestyle.
my dad's a good investor, and they (and me) aren't huge spenders, but it's not like we have a private jet and a yacht like the rich do, haha. 55k/year in tuition is a lot. That's like getting a new luxury car each year and then some.
I mean, my parents could have paid for duke. They did offer me the option if my *heart* was set on it, but they weren't going to pay for anything else afterwards [wedding, grad school, summer classes, car, extra year of college if I wanted it, etc]. I mean it was coming to around 220k-230k total, so what more could I really expect?
state college total for me was like 45-50k. A lot more reasonable. It's around the same price as the car my dad drives. My dad didn't think twice about getting that car, I don't think he thinks twice about paying my tuition/fees/etc, especially considering it's broken down to like 5-6k every 6 months or so.
Last edited by stellastar2345; 10-13-2014 at 07:04 PM..
No it is not worth it. Even $100K is pushing it. There are much, much better options.
S.
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