U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 12-22-2014, 03:15 AM
 
94 posts, read 97,606 times
Reputation: 70

Advertisements

To make the most of their money?
Reply With Quote Quick reply to this message

 
Old 12-22-2014, 06:35 AM
 
Location: All Over
4,004 posts, read 4,588,459 times
Reputation: 3092
No, to the rich they would still pay for the prestige of saying my kid went to such and such school. The rich already have the contacts they don't need their kid to go to college to make contacts even though they obviously do make contacts and network there as well. The rich however would still pay the big tuition checks to say my kid goes to such and such school.
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 06:57 AM
 
13,321 posts, read 17,821,024 times
Reputation: 20031
And most of those schools are worth every penny of tuition.
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 07:11 AM
 
Location: Prepperland
13,751 posts, read 9,864,468 times
Reputation: 9881
Imagine what havoc would be unleashed if people could acquire credentials, by inexpensive examination?
Those who study on their own, but cannot afford tuition, would benefit the most.
. . .
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 09:33 AM
 
Location: North Idaho
22,759 posts, read 28,819,735 times
Reputation: 44004
No.

There is more than prestige for the kid involved. Those ivy league schools have the best teachers and the most demanding course work. Their graduates come out better prepared, which is why they have the edge for the best jobs.

The wealthy tend to be tight fisted, but they can spend the big bucks when the expensive version is the best version. They very rarely scrimp when preparing their children for adult life--- which might easily involve talking over and running the family business.

Another reason to not send their kids to cheap schools is that those are full of druggies, slackers, and welfare recipients, going to school on grant money and not really caring about their education. Not people that you want your kid to have for their best friend.
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 09:54 AM
 
Location: Keosauqua, Iowa
9,181 posts, read 16,681,725 times
Reputation: 12341
It depends how the parents became rich.

If it's old money, chances are the family has an established history with a certain university and will expect the kids to attend the same university which may be a prestigious school but could just as well be a lesser-know private liberal arts college or even a state school.

If it's found money (lottery winnings, inheritance from a miserly relative, finding oil on their property, etc.) there's a good chance they will send their kids to a prestigious school just to say they did. That's assuming they choose to send their kids to school at all; if the amount of money in question is enough to sustain multiple generations or has been invested in a profitable business that can be passed on, there's also a chance that they may choose not to send their kids to school because "we done alright for ourselves without no fancy-pants eddiecation". Yes, there actually are people who think that way.

If they've started from scratch and worked hard to make their money they would be more likely to send their kids to the best school for the money, but probably wouldn't be opposed to "overpaying" for college if there really is some difference in the quality of the education at the higher-priced school.

Last edited by duster1979; 12-22-2014 at 11:16 AM..
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 10:05 AM
 
Location: All Over
4,004 posts, read 4,588,459 times
Reputation: 3092
Quote:
Originally Posted by oregonwoodsmoke View Post
No.

There is more than prestige for the kid involved. Those ivy league schools have the best teachers and the most demanding course work. Their graduates come out better prepared, which is why they have the edge for the best jobs.

The wealthy tend to be tight fisted, but they can spend the big bucks when the expensive version is the best version. They very rarely scrimp when preparing their children for adult life--- which might easily involve talking over and running the family business.

Another reason to not send their kids to cheap schools is that those are full of druggies, slackers, and welfare recipients, going to school on grant money and not really caring about their education. Not people that you want your kid to have for their best friend.
My personal opinion is that elite schools are great but the expensive but lesser known small schools are kind of a waste of money.

I went to a state school and finished up my last year at a local college, smaller school, great repuation but a trimester so 3 a year instead of 2 costs about 7k for a full courseload. On the flip side state school cost me $3200 for a full year. Did I get a better education at the small school, sure there was a bit more attention paid to me and sure course load was a bit harder however int he grand scheme of things I dont feel the smaller school was worth like 8x the cost. Nobody outside of my town is probably familiar with the school and doesn't have the name recognition to be like wow thats a good school.

I think to a great degree you make the most of your college experience. Someone who doesn't care can go to a good schol skate by and get nothing out of it and someone who goes to a crappy school can take advantage of every opportunity it has to offer and come out even better.

Unless your going to go to a harvard, yale, stanford, etc I dont think its worth the extra money
Reply With Quote Quick reply to this message
 
Old 12-22-2014, 07:45 PM
 
24,503 posts, read 35,481,018 times
Reputation: 12835
No. Believe it or not, rich people actually value the quality of education (this is not unique to the rich).
Reply With Quote Quick reply to this message
 
Old 12-23-2014, 12:43 AM
 
24,503 posts, read 35,481,018 times
Reputation: 12835
Quote:
Originally Posted by Threestep View Post
And most of those schools are worth every penny of tuition.
This.

Rich people are just as frugal. The only difference is that they can afford better value. A school might be more expensive, but it might also provide a better value.

For example, studying Computer Science at Stanford for $40,000/yr (or whatever it costs) is a much better value than studying Computer Science at CUNY for much less.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top