Notices

College Question

Old 04-01-2007, 07:39 PM
  #1  
Senior Member
Thread Starter
 
Join Date: Feb 2003
Location: Jacksonville, Florida, US
Posts: 14,527
Default College Question

If you had planned and budgeted for an in-state education for your child and then he/she got accepted into an Ivy League shool, would you do whatever it took to find the money or would you insist on in-state?

Would you consider in state for undergrad and Ivy league for graduate school as a trade off?
Menzies is offline  
Old 04-01-2007, 07:48 PM
  #2  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: May 2005
Posts: 6,194
Default Re: College Question

I would pony up for the Ivy league. If he/she did the work and effort to get accepted, and that is where they want to go, saying no, you must go to an in-state school, well, in my mind is a slap across the face.

"Would you consider in state for undergrad and Ivy league for graduate school as a trade off?"

No, I would not consider it. What is to say he/she will get the grades in under grad to get accepted at an Ivy league grad program.
RI Builder is offline  
Old 04-01-2007, 08:00 PM
  #3  
Senior Member
Thread Starter
 
Join Date: Feb 2003
Location: Jacksonville, Florida, US
Posts: 14,527
Default Re: College Question

FYI - $200K just for undergrad.
Menzies is offline  
Old 04-01-2007, 08:03 PM
  #4  
Guest
Guest
 
Posts: n/a
Default Re: College Question

Ivy League will pay for itslef in the long run. Also, most are willing to provide good financial aid because their alumni "usually" get better, high-paying, jobs.

Would you consider in state for undergrad and Ivy league for graduate school as a trade off?
Nope, not at all. Most companies these days require an MBA, regardless of where you got your bachlor's. Also keep in mind business school will cost a lot more than undergrad

There is also the problem that a lot of companies cant afford to pay you an "ivy-league MBA" salary. In those cases, they want you to work for them for several years, then get your MBA. This was the case with a friend of mine. She got hired right out of college by Goldman Sachs. Worked for them for a year, then became a fund manager for a private indivual. Shes 25 and pulling down well over six-fugres, and will be going to Columbia, probably, for her MBA in a year or two.
 
Old 04-01-2007, 08:24 PM
  #5  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: May 2005
Posts: 6,194
Default Re: College Question

Menzies - 4/1/2007 8:00 PM

FYI - $200K just for undergrad.
I am well aware of that.
RI Builder is offline  
Old 04-01-2007, 08:24 PM
  #6  
Senior MemberCaptains Club Member
 
Join Date: Sep 2006
Location:
Posts: 3,389
Default Re: College Question

This may hurt ( or may not) but I would make an honest assessment of your kids actual potential to make the most of going to an Ivy League school. Also what career he/she is planning is a factor. If law/business and the kid is motivated, go for it. If medicine, not quite as important to have a top tier undergrad degree. If planning to waste your cash on a marine biology degree, "Go State".
DrJim is offline  
Old 04-01-2007, 08:31 PM
  #7  
Senior MemberCaptains Club Member
 
Join Date: Dec 2002
Location: Columbia, SC
Posts: 1,721
Default Re: College Question

There is so much money out there for college, if he/she got into the ivy league, they need to go there. Your kid has a new job. It's called surfing the net and finding any and every scholarship known to man and applying for them. $500 here, $1000 there, it adds up and next thing you know, you're down to $100-$150k.
neckbone is offline  
Old 04-01-2007, 08:32 PM
  #8  
Guest
Guest
 
Posts: n/a
Default Re: College Question

DrJim - 4/1/2007 8:24 PM

This may hurt ( or may not) but I would make an honest assessment of your kids actual potential to make the most of going to an Ivy League school. Also what career he/she is planning is a factor. If law/business and the kid is motivated, go for it. If medicine, not quite as important to have a top tier undergrad degree. If planning to waste your cash on a marine biology degree, "Go State".
I totally agree.
 
Old 04-01-2007, 08:45 PM
  #9  
Senior MemberCaptains Club Member
 
Join Date: Sep 2001
Location: Chatham Mass
Posts: 588
Default Re: College Question

Most Ivy league schools have big financial aid packages because of the huge endowments. If the kid will get in they will find a way to pay and keep them there for fear of lowering graduation rates. I would go ivy league as undergrad and state as grad. That name will open many doors in the future. Ivy league vs. FSU- who has the edge in the job market? Take a guess. There are many schools that have great graduate programs that dont have great undergrad programs.
GOODNYOU is offline  
Old 04-01-2007, 09:09 PM
  #10  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Feb 2001
Location: Arlington, VA
Posts: 4,203
Default Re: College Question

I went to an ivy and ended up paying quite a bit of it myelf through loans. I still owe almost $60k. Give the money you have to your kid and get them to pay the rest through loans.
Cooper is offline  
Old 04-01-2007, 09:15 PM
  #11  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: May 2001
Location: Cullowhee,NC,USA
Posts: 1,189
Default Re: College Question

Go Ivy Leauge. File your FAFSA early and work with the financial aid folks at the school. There is money out there but you have to go after it.
oneill469 is offline  
Old 04-01-2007, 11:01 PM
  #12  
Senior Member
 
Join Date: Jul 2006
Location: 10,000 islands
Posts: 1,531
Default Re: College Question

If you can afford it, then do it. If not, then don't. a child doesn't have the right to lay a guilt trip on their parents. Simple as that.
gagme is offline  
Old 04-01-2007, 11:09 PM
  #13  
Senior MemberCaptains Club Member
 
Join Date: Oct 2006
Location: Great State of Tennessee
Posts: 874
Default Re: College Question

Ivy League. Qualifying and acceptance are over 75% of the hurdle -- your kid did that much help them with the rest. If they qualify give them what you have and like the earlier poster said, their new job is getting scholarship money over the summer. www.fastweb.com it is a Gold mine. FAFSA early. Financial Aid department at the university. Mine wants to go to Vanderbilt Univerisity medical school but didnt qualify yet. So, he is at MTSU Honors College doing a double major working at a hospital and working his a$$ off in general. I have no doubt he'll make it with or without our help.
cerichcreek is offline  
Old 04-02-2007, 08:24 AM
  #14  
Senior MemberCaptains Club Member
 
Join Date: Nov 2004
Location: Key West
Posts: 2,385
Default Re: College Question

How much is that boat worth.....?
CayoHueso is offline  
Old 04-02-2007, 08:42 AM
  #15  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Nov 2003
Location: New Jersey Shore
Posts: 4,071
Default RE: College Question

It's hard to advise someone on a topic such as this; it is personal. But seeing as you asked ......

If your in-state choice is University of North Carolina, Ohio State, Penn State, University of Michigan, California Berkeley (you get the drift....great state schools....), I'd strongly urge those choices, plus let them know you will help them in the future with a house downpayment, or grad school, if they go that route.

If your in-state choice is Arkansas, Florida, ......., then I would tool your kids to go all the way (IVY if they got in).

Post-College career success is: 33% your kids genetic makeup and work ethic, 33% the quality of the school, and its Alum network, 17% luck, and 17% how connected their daddy is. These numbers are exact.

No offense to Florida and Arkansas. I went to SUNY and would never send my kids there. Or Rutgers for that matter (and both are decent school systems too)
Themis Sal is offline  
Old 04-02-2007, 09:15 AM
  #16  
Senior MemberCaptains Club Member
 
Join Date: Feb 2005
Location:
Posts: 545
Default Re: College Question

Its great he or she got into the Ivy League...congrats, thats a major accomplishment right there. Parkersal has it right about sending them to UNC or Penn State, etc...all of those are Ivy league cailber but don't cost the Ivy Leage $$$$! You can slo consider "American League" schools such as American University or the such.

You're compromise is idea isin't bad. If he or she goes to a not ivy league undergrad but still a good undergrad and chooses lets say Law School (since I can actually speak with knowledge on this subject) and maintains a high GPA and then does well on his/her LSAT's then the doors are open to any law school. Then if your top of the class in law school, you're doors are wide open to 100 hour weeks at top manhattan law firms. ! lol

Seriously, see what the kid wants to do.....even if they don't go to Ivy league schools there are planty of opportunities available. Also its not only about the name of the institution you go to, its about what you take out of that institution. Granted, you obviously aren't going to get too much out of a lower level school, but sometimes the lesser known schools have great programs, smaller classes then Ivy league institutions, etc, etc.

One last note...as many have mentioned before...see what financial aid package they offer you. Sometimes between grants and aid...etc, etc you can get half the cost covered. !
liwreckfisherman is offline  
Old 04-02-2007, 10:04 AM
  #17  
Senior MemberCaptains Club Member
PLEDGERPLEDGERPLEDGERPLEDGER
 
Snapper Head's Avatar
 
Join Date: Mar 2002
Location: Republic of West Florida - the ORIGINAL lone star state
Posts: 17,772
Default RE: College Question

My wife & I refuse to compromise our financial well being and future for the sake of our daughters' college education. We planned and invested appropriately; if one gets accepted to an Ivy League school, then we will collectively have to work on just where the money differential will come from. It won't come from our pockets.

That is the premise for my answer - go for the Ivy League education, but ask your kid to participate in the "how are we going to pay for it" legwork. If you are willing to incur debt, sell off some assets, or both, in order for your child to go Ivy League, then do it., if you both believe that this school will truly provide a significant leg up in life.

I disagree with the largely accepted point that a Harvard grad will absolutely win out over the Penn State or Florida State grad every time. GPA is the prime mover, and personality and professionalism are the secondary factors. Your kid, with good grades and good interpersonal skills, will land a good job with good pay, whether the parchment is Yale, or Flawda. MAYBE the Yale paper will draw more money...........

.02


Big Al
Snapper Head is offline  
Old 04-02-2007, 10:52 AM
  #18  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Feb 2001
Location: Arlington, VA
Posts: 4,203
Default Re: College Question

Quote from Snapper Head:
GPA is the prime mover, and personality and professionalism are the secondary factors.
I disagree with that. In my experience, GPA has zero to do with it. I've never once been asked about my education, other to confirm that I had one. For me the top 5 things, in order, have been 1) Experience, 2) Experience, 3) Experience, 4) Experience, and 5) Personality. Maybe it's just the field that I work in, but my girlfriend has also reported the same thing.
Cooper is offline  
Old 04-02-2007, 11:14 AM
  #19  
Joe
Senior MemberCaptains Club Member
 
Join Date: Mar 2001
Location: Mt Pleasant, SC
Posts: 15,959
Default Re: College Question

Cooper - 4/2/2007 10:52 AM

Quote from Snapper Head:
GPA is the prime mover, and personality and professionalism are the secondary factors.
I disagree with that. In my experience, GPA has zero to do with it. I've never once been asked about my education, other to confirm that I had one. For me the top 5 things, in order, have been 1) Experience, 2) Experience, 3) Experience, 4) Experience, and 5) Personality. Maybe it's just the field that I work in, but my girlfriend has also reported the same thing.
I agree. The only people that ever asked me about my GPA were at college. They asked when I co-oped for engineering at a local power utility, but didn't really seem to care about it when I told them it wasn't great. I've never had any other job ask about it, only if I had a degree.

The ivy league degree definitely has more charisma to it than a state school; regardless of whether the education is worthwhile or not (thats up to you to decide). Think about it from a hiring mgr's perspective--which candidate would you rather have-someone with an ivy league degree, or someone from State U? And would you be willing to pay more for that? Probably.

It's sorta like a good resume--it will get you in the door, after that, it's up to you to do something with it.
Joe is offline  
Old 04-02-2007, 11:38 AM
  #20  
Senior MemberCaptains Club Member
 
Join Date: Feb 2005
Location:
Posts: 545
Default Re: College Question

GPA only really counts for your first job....and even then, speaking regionally, bottom of the class at Fordham law will get a job over top of the class at Touro law.

I don't know about undergrad...since I went right to law school....but one more note to pass on to your kid is to not major in something useless like history or sociology...unless he/she has law school or teaching in the works. Pick a major in the sciences, engineering, etc, etc.
liwreckfisherman is offline  

Thread Tools
Search this Thread