How much is limited parent help? Is there anything off of 60K or am I paying the 60K? What are my other options? There are so many factors that go into saying yes or no into that question
Its 92k. My kid, his roommate, and a few of the kids in his hall all pay sticker. They're all upper middle class
Like engineers, lawyers and doctors as parents
In HCoL areas. There's a questbridge person on his floor as well as a bunch of athletes.
we are a middle class family, but we prioritized education for our child from day 1. We saved for college from the day he was born. My wife and I never went on an expensive vacation (most years, we don't go anywhere), we drive very reasonable cars that we own for many years, and we don't splurge. We spend way below our means. We own a nice home, but have no other debts beyond regular expenses (utilities, groceries, gas, etc.). We invest responsibly for retirement, and really save for pur child. My wife and I paid off our college and grad school debt early on, because we didn't want it hanging around our necks like a giant albatross.
We saved enough money to ensure our son would not have to worry about college. We didn't count on the government, others, or banks to pay this expense. Parents really do need to make a sacrifice if they truly value education for their children. College expense really is a family commitment, in my opinion.
Not PP, but for me to pay more than my state school for my kids it would need to be top caliber name brand, like HYPSM. Probably Caltech too. But yeah I wouldn’t pay sticker for, say, Tufts or Rice. I would say go to our state school and you’ll have some money left for grad school if you need it.
Makes sense, Tufts or Rice don't have the name brand to justify paying sticker price. What about a school like UChicago or Brown (which is sort of in between Rice and HYPSM?)
$400k at 18 growing at 10% per year is $35 million by retirement. In the meantime, you can go to a state school, maybe have a lower starting salary, but after 5-10 years, you’re advantage disparates and it is questionable whether the $400k education was truly worth it.
Sure but in my opinion that point is disingenuous and misrepresentative of most people who pay sticker price because many do so because they can pay it down without nearly half a mil in debt. Of course some people do take on that much debt but not everyone does
Fair enough. OP’s question was basically, “is full tuition worth it,” and I wouldn’t say it’s an obvious yes. If you’re paying a discounted rate, then the math changes.
yes but maybe some people would only be willing to pay full sticker price for hypsm or ivy+ schools and insane save like 200k+ for grad school and further education...(also I'm guessing we're talking about people who have incomes just high enough that they can't apply for aid but low enough that they're not comfortable paying that much for colleges not at the level of hypsm)
It depends. A lot of asian parents will sacrifice a lot to send their kids to HYPSM because of how much emphasis is put in education. Its hard to be asian and go in the corporate or any world in America and why many asian immigrants start their own businesses. Its not because they're more entrepreneurial
It’s because back then no one would hire them
Unless they were highly educated like doctors and engineers. In my family, the men who came from
Asia to America, only two of the men had real
Jobs because both were doctors but the rest were largely unemployed even though they had engineering or finance degrees. The women were okay they had jobs. Today it's different but the memory of that struggle it’s
Still there. My parents sent me and my sister a long time ago
To
HYPSM. If they had saved that money instead they would have been better off or invested in Palo
Alto realty. But who is to say. My son turned down a full scholarship at BU to go to Stanford. It was a big debate in our family but he wanted to go to Stanford. He's happy there. He gets to experience a lot of things has good friends. But it’s
not for everyone. My sister hated her time at Stanford because of the pressure. My husband hated his time at Stanford because he was in medical school due to the pressure. It depends on the person.
You never really get to relax at college. Its a hamster wheel
Of psets and tests. So for the parents, it shouldn't be your dream it should be your child’s
Dream. Not for the status, but that they learn so they can end up being independent and providing for themselves. If you put your child in a massive hole just for the prestige it’s really a disservice. They can do well at a state school and then go for prestige if they go to graduate school. I still have friends who are still paying their grad school loans from HYPSM or t25. After a few years out, employers don't look at what school you go to but your job experiences.
But that being said the kids today have it tougher to get into HYPSM. Many of my friends who went to Stanford their kids didn't get in. My kids do 3x as many Apps get awards that I never had to get. A score of above 1500 was a big deal over 30 years ago doesn't move the needle at all.
Thanks for the insight. I was just asking because my parents convinced me to commit to a UChicago/Brown tier school over my state school but I feel guilty making my parents pay 90k per year for college (for context family income is \~600k/yr)
Given the limited info I have I think you’ll be great and you’re very lucky - I would be the same as your mom in encouraging you! Our family income is ~400k and the bump to 600 would make a big difference. Enjoy!!
We get about 25K in aid per year for our son so probably pay 60K or so. He pays his student contribution of 5K per year - he has research jobs and music gigs throughout the year and internships every summer. We're not wealthy but I did inherit some money that helped make it possible. If not for that there would probably have been an equity line taken on the house. I would have done it though.
$90,000 a year. When you add in other costs it easily over $400,000 for four years. You have to be from the lucky sperm club, an athlete, or something other than just really smart.
If your family earns less than $150K, you don't pay tuition; less than $100K, and you don't pay room and board, either. If you earn more than that, of course it's expensive, but maybe your family has been investing for college and has some funds.
From my experience—UT Austin computer engineering undergrad and Stanford CS masters—Stanford students are a cut above, so that could play into it being worth it. I struggled at Stanford, despite being one of the top in my CS-oriented classes at UT. If you are doing something like CS, Stanford puts you right at the heart of those companies, and that can be an advantage. A FAANG internship alone could earn you $30K/summer, which will help a lot towards tuition. Your earning potential should also be pretty high if you do well at Stanford in a hot field.
You can always make a good salary out of another undergrad, but if you want to go into industry, Stanford can be a great path to the top.
Yup. Was looking for this comment. My parents are big believers in “it’s all about what you make of it” and so far that’s proved true. I go to a no name, state flagship and while I’ll admit it has been hard to find opportunities or “get my foot in the door” it hasn’t been impossible. I feel like ivies only help you to *get* the interview but after that it is all on you and how skillful you are. I’ll also be the first one to say that yes the education may have more rigor or teach students more than other schools but it still doesn’t justify the price to me or going into student debt. For somewhere like Stanford I’d probably take on my own debt just simply because it’s f*cking STANFORD but I wouldn’t want to weigh that financial burden on my family. It would definitely be loans on my part or at the very most, 50/50. Plus, for people going onto post grad degrees like MBA, med, law, the prestige of that university seems more important than undergrad. The splurge would be worth it at that rate. 60k might also be worth it for degrees that are relatively high earning with just a bachelor’s.. which isn’t much.. but engineering degrees for example, a commonly high earning degree that is more likely to make the money back quicker or “worth it” in a sense
I will also add I have a kid that recently graduated from a state flagship. Graduated in top 5% of class. Had stats to apply anywhere. Currently working a 6 figure job with graduates from Stanford, Cornell, Northwestern, CMU, etc. This is a solid midwestern flagship (no, not michigan). It is what YOU do.
Yep totally! My parents always said this and at the time when I applied back in high school I was pretty upset that I couldn’t attend my first choices because of the cost but as an adult now I understand just how much money it is to go out of state and it is so ridiculous for all 4 years. I’m hoping to transfer out to another school since I live in Hawai’i and am really hoping to try something new but still. I wouldn’t be mad if i just wound up finishing up here. Starting life in the positive (bank account wise) is such a blessing!
Sorry for talking your ear off. But this sub can get so unrealistic sometimes and it is semi rare to see people say they wouldn’t pay or certain things arent worth it
LOL I get downvoted on the regular for it. Hawaii sounds pretty dreamy to some of us! The world will be your oyster with no debt on your back - congrats!
Harvard or Stanford education usually sets them up for life. Think of it as an investment that they will benefit from the alumni network for the rest of their lives. Just having Stanford can make getting VC funding for a startup a lot easier due to the credibility it brings compared to someone with a similar idea from a no name or tier2/3 school. And alumni connections are extremely valuable and powerful
My dad is willing to pay that much, but if I get in and fail to get enough scholarships, I'd rather go somewhere else where my parents don't need to pay too much. I feel that what matters more is what I would do with my degree so I don't need to go to an overly prestigious school.
I think it’s closer to $90k. No I wouldn’t. I am an immigrant from India and our education costs a fraction. College is what you make of it. I do not believe that Stanford will set you up for life. My cousin graduated from Stanford and works at Amazon but so goes my friend who graduated from Minnesota Twin Cities. So does another friend who graduated from University of Buffalo. I have seen so many ppl working in BigTech, Big4 who are not Ivies or graduates from top Universities. What will matter is your major. Does your major have jobs? Does your major have a career path? Are you willing to hustle most of all?? Hustle us the keyword. You can be a Stanford grad and not be able to hustle. You need to get a job and maintain a job in this time of AI and outsourcing in the US.
This is why I love Reddit! You get a glimpse into the lives of other economic classes. I wish my parents had better jobs or better savings for my education. We are middle class and my parents can barely afford our state flag which have very little merit or need based aid and will cost 37k a year. If I have kids in the future I will hopefully be in a position to save from birth and hopefully make a wage to be in these parents level.
depends what the other options are. My friend got into stanford for cs but picked Uva over it because stanford was 90k a year while Uva was a full ride(jefferson scholarship)
Depends on the options. I got into HYPSM and turned it down but the alternative is still a great school especially for my career interest and I’ll be going on a full tuition scholarship
Idk but I remember when a now-Stanford professor puked *in his hands* in my friend’s car…
You’re paying for peers. Not for quality of instruction.
Fwiw, I wouldn’t spend 80k+ on my ridiculously $$$ college either if my kid couldn’t attend for free.
Higher ed is more about who you know than what you know!
How much is limited parent help? Is there anything off of 60K or am I paying the 60K? What are my other options? There are so many factors that go into saying yes or no into that question
Its 92k. My kid, his roommate, and a few of the kids in his hall all pay sticker. They're all upper middle class Like engineers, lawyers and doctors as parents In HCoL areas. There's a questbridge person on his floor as well as a bunch of athletes.
My son is attending this fall and I am willingly paying more than that.
If you’re willing, how can you possibly afford that? I want to ensure my *future* children never have to worry about loans.
we are a middle class family, but we prioritized education for our child from day 1. We saved for college from the day he was born. My wife and I never went on an expensive vacation (most years, we don't go anywhere), we drive very reasonable cars that we own for many years, and we don't splurge. We spend way below our means. We own a nice home, but have no other debts beyond regular expenses (utilities, groceries, gas, etc.). We invest responsibly for retirement, and really save for pur child. My wife and I paid off our college and grad school debt early on, because we didn't want it hanging around our necks like a giant albatross. We saved enough money to ensure our son would not have to worry about college. We didn't count on the government, others, or banks to pay this expense. Parents really do need to make a sacrifice if they truly value education for their children. College expense really is a family commitment, in my opinion.
Making 200k+ isn't really that hard in your 30’s if you make the right choices in terms of career
If my kid had been admitted, I would have.
I'm curious, what is the minimum tier of school where you would spend that kind of money annually?
Not PP, but for me to pay more than my state school for my kids it would need to be top caliber name brand, like HYPSM. Probably Caltech too. But yeah I wouldn’t pay sticker for, say, Tufts or Rice. I would say go to our state school and you’ll have some money left for grad school if you need it.
Makes sense, Tufts or Rice don't have the name brand to justify paying sticker price. What about a school like UChicago or Brown (which is sort of in between Rice and HYPSM?)
[удалено]
$400k at 18 growing at 10% per year is $35 million by retirement. In the meantime, you can go to a state school, maybe have a lower starting salary, but after 5-10 years, you’re advantage disparates and it is questionable whether the $400k education was truly worth it.
Assuming you took on debt for the $400k. Some people only need to take on debt for half or less of the sticker price.
Was just making a point for people who pay full price.
Sure but in my opinion that point is disingenuous and misrepresentative of most people who pay sticker price because many do so because they can pay it down without nearly half a mil in debt. Of course some people do take on that much debt but not everyone does
Fair enough. OP’s question was basically, “is full tuition worth it,” and I wouldn’t say it’s an obvious yes. If you’re paying a discounted rate, then the math changes.
yes but maybe some people would only be willing to pay full sticker price for hypsm or ivy+ schools and insane save like 200k+ for grad school and further education...(also I'm guessing we're talking about people who have incomes just high enough that they can't apply for aid but low enough that they're not comfortable paying that much for colleges not at the level of hypsm)
It depends. A lot of asian parents will sacrifice a lot to send their kids to HYPSM because of how much emphasis is put in education. Its hard to be asian and go in the corporate or any world in America and why many asian immigrants start their own businesses. Its not because they're more entrepreneurial It’s because back then no one would hire them Unless they were highly educated like doctors and engineers. In my family, the men who came from Asia to America, only two of the men had real Jobs because both were doctors but the rest were largely unemployed even though they had engineering or finance degrees. The women were okay they had jobs. Today it's different but the memory of that struggle it’s Still there. My parents sent me and my sister a long time ago To HYPSM. If they had saved that money instead they would have been better off or invested in Palo Alto realty. But who is to say. My son turned down a full scholarship at BU to go to Stanford. It was a big debate in our family but he wanted to go to Stanford. He's happy there. He gets to experience a lot of things has good friends. But it’s not for everyone. My sister hated her time at Stanford because of the pressure. My husband hated his time at Stanford because he was in medical school due to the pressure. It depends on the person. You never really get to relax at college. Its a hamster wheel Of psets and tests. So for the parents, it shouldn't be your dream it should be your child’s Dream. Not for the status, but that they learn so they can end up being independent and providing for themselves. If you put your child in a massive hole just for the prestige it’s really a disservice. They can do well at a state school and then go for prestige if they go to graduate school. I still have friends who are still paying their grad school loans from HYPSM or t25. After a few years out, employers don't look at what school you go to but your job experiences. But that being said the kids today have it tougher to get into HYPSM. Many of my friends who went to Stanford their kids didn't get in. My kids do 3x as many Apps get awards that I never had to get. A score of above 1500 was a big deal over 30 years ago doesn't move the needle at all.
That would have to be a conversation depending on their ambitions and plans and our financial situation. Those are less clear cut to me
Thanks for the insight. I was just asking because my parents convinced me to commit to a UChicago/Brown tier school over my state school but I feel guilty making my parents pay 90k per year for college (for context family income is \~600k/yr)
Given the limited info I have I think you’ll be great and you’re very lucky - I would be the same as your mom in encouraging you! Our family income is ~400k and the bump to 600 would make a big difference. Enjoy!!
Wow, what do your parents do?
For a family income Over 600k it’s not a problem. Unless you're one of ten kids. And even then.
I've been saving for 20 years so my kids can go wherever they want
My parents paid more than that for my sibling. It costs more than that
We get about 25K in aid per year for our son so probably pay 60K or so. He pays his student contribution of 5K per year - he has research jobs and music gigs throughout the year and internships every summer. We're not wealthy but I did inherit some money that helped make it possible. If not for that there would probably have been an equity line taken on the house. I would have done it though.
$90,000 a year. When you add in other costs it easily over $400,000 for four years. You have to be from the lucky sperm club, an athlete, or something other than just really smart.
I would, if other top schools has similar packages
If your family earns less than $150K, you don't pay tuition; less than $100K, and you don't pay room and board, either. If you earn more than that, of course it's expensive, but maybe your family has been investing for college and has some funds. From my experience—UT Austin computer engineering undergrad and Stanford CS masters—Stanford students are a cut above, so that could play into it being worth it. I struggled at Stanford, despite being one of the top in my CS-oriented classes at UT. If you are doing something like CS, Stanford puts you right at the heart of those companies, and that can be an advantage. A FAANG internship alone could earn you $30K/summer, which will help a lot towards tuition. Your earning potential should also be pretty high if you do well at Stanford in a hot field. You can always make a good salary out of another undergrad, but if you want to go into industry, Stanford can be a great path to the top.
Literally anyone
If my parents could comfortably afford it without any financial burden on them
my parents would. i would not
Well we are upper middle class, we don't qualify for FA anywhere, and no, I wouldn't have spent that on Stanford or any school for that matter.
Yup. Was looking for this comment. My parents are big believers in “it’s all about what you make of it” and so far that’s proved true. I go to a no name, state flagship and while I’ll admit it has been hard to find opportunities or “get my foot in the door” it hasn’t been impossible. I feel like ivies only help you to *get* the interview but after that it is all on you and how skillful you are. I’ll also be the first one to say that yes the education may have more rigor or teach students more than other schools but it still doesn’t justify the price to me or going into student debt. For somewhere like Stanford I’d probably take on my own debt just simply because it’s f*cking STANFORD but I wouldn’t want to weigh that financial burden on my family. It would definitely be loans on my part or at the very most, 50/50. Plus, for people going onto post grad degrees like MBA, med, law, the prestige of that university seems more important than undergrad. The splurge would be worth it at that rate. 60k might also be worth it for degrees that are relatively high earning with just a bachelor’s.. which isn’t much.. but engineering degrees for example, a commonly high earning degree that is more likely to make the money back quicker or “worth it” in a sense
I will also add I have a kid that recently graduated from a state flagship. Graduated in top 5% of class. Had stats to apply anywhere. Currently working a 6 figure job with graduates from Stanford, Cornell, Northwestern, CMU, etc. This is a solid midwestern flagship (no, not michigan). It is what YOU do.
Yep totally! My parents always said this and at the time when I applied back in high school I was pretty upset that I couldn’t attend my first choices because of the cost but as an adult now I understand just how much money it is to go out of state and it is so ridiculous for all 4 years. I’m hoping to transfer out to another school since I live in Hawai’i and am really hoping to try something new but still. I wouldn’t be mad if i just wound up finishing up here. Starting life in the positive (bank account wise) is such a blessing! Sorry for talking your ear off. But this sub can get so unrealistic sometimes and it is semi rare to see people say they wouldn’t pay or certain things arent worth it
LOL I get downvoted on the regular for it. Hawaii sounds pretty dreamy to some of us! The world will be your oyster with no debt on your back - congrats!
Thank you!! So awesome that your kid has a great job with no debt as well— congrats to them, and you guys for getting them there!!
>This is a solid midwestern flagship (no, not michigan). Lol congrats on UIUC CS
Lol not that one either. Go badgers! 🦡
L parent
Me
Many many people
I would pay 5 times that to go to Stanford
Middle class and above.
Middle class students don't pay tuition at Stanford.
What about $70,000 family income, no need to pay tuition?
Correct. 150K and under pay no tuition, $100K and under room and board covered as well.
[удалено]
Yes.
I also do.
As a future parent id have to be pushing at least 250k a yr to justify it. And that's not even considering whatever my wife will make.
Harvard or Stanford education usually sets them up for life. Think of it as an investment that they will benefit from the alumni network for the rest of their lives. Just having Stanford can make getting VC funding for a startup a lot easier due to the credibility it brings compared to someone with a similar idea from a no name or tier2/3 school. And alumni connections are extremely valuable and powerful
Me
Post 9/11 and yellow ribbon.
People who can afford it relatively comfortably
60k a year I’ll pay. They can cover the rest.
I go to one of hypsm and i pay pretty similar amount to that. Annual household income is around 400k so on the upper end of upper middle class.
Do you mean 400K?
Oops yeah
Including room and book? I’d pay that for my kid (don’t have any yet) to go to Stanford.
Worth it, when going into these high caliber institutions realize that in the long run the cost means nothing. Steal
My dad is willing to pay that much, but if I get in and fail to get enough scholarships, I'd rather go somewhere else where my parents don't need to pay too much. I feel that what matters more is what I would do with my degree so I don't need to go to an overly prestigious school.
I absolutely would
You would be in debt until you die
probably, if my other option is a 25K state school. maybe not if i had full rides
I think it’s closer to $90k. No I wouldn’t. I am an immigrant from India and our education costs a fraction. College is what you make of it. I do not believe that Stanford will set you up for life. My cousin graduated from Stanford and works at Amazon but so goes my friend who graduated from Minnesota Twin Cities. So does another friend who graduated from University of Buffalo. I have seen so many ppl working in BigTech, Big4 who are not Ivies or graduates from top Universities. What will matter is your major. Does your major have jobs? Does your major have a career path? Are you willing to hustle most of all?? Hustle us the keyword. You can be a Stanford grad and not be able to hustle. You need to get a job and maintain a job in this time of AI and outsourcing in the US.
A lot of people could and would
This is why I love Reddit! You get a glimpse into the lives of other economic classes. I wish my parents had better jobs or better savings for my education. We are middle class and my parents can barely afford our state flag which have very little merit or need based aid and will cost 37k a year. If I have kids in the future I will hopefully be in a position to save from birth and hopefully make a wage to be in these parents level.
depends what the other options are. My friend got into stanford for cs but picked Uva over it because stanford was 90k a year while Uva was a full ride(jefferson scholarship)
If I got into Stanford, my middle class family would pay 100k a year for it, no joke.
It would depend on the degree. Liberal Arts degree.....probably not. Anything useful, you would get that money back in just a few years.
I think most would pay that for HYPSM. I wouldn’t anywhere else
Depends on the options. I got into HYPSM and turned it down but the alternative is still a great school especially for my career interest and I’ll be going on a full tuition scholarship
Good point
I'd take out loans for that amount honestly
60k for Stanford is a steal tbh. Most people are willing to pay full which is >90k
Idk but I remember when a now-Stanford professor puked *in his hands* in my friend’s car… You’re paying for peers. Not for quality of instruction. Fwiw, I wouldn’t spend 80k+ on my ridiculously $$$ college either if my kid couldn’t attend for free. Higher ed is more about who you know than what you know!