Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 02-07-2011, 08:19 AM   #81
Recycles dryer sheets
 
Join Date: Nov 2010
Posts: 241
Our kids went to a great public school system for k -12, then went on to public colleges. I went to a private Catholic school from 1 to 9, then switched to public schools. I was an entire year ahead of everyone else in my grade when I switched. Attended a small public university for undergrad, then a large university for grad school. Both were good for me.

Somehow we all managed to turn out okay. Both have their advantages and disadvantages. If we really thought private schools would have been better for the kids, we would have bitten the bullet and paid.
__________________

__________________
MDJO is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-07-2011, 10:08 AM   #82
Recycles dryer sheets
 
Join Date: Feb 2007
Posts: 59
My kids are 4 years and 4 months so I haven't had to tackle this question yet. However, I'd say the child's tallent, interests, and personality have to come into play.

If the kid is an average student that wants to major in social anthropology, art history, or some other field with low likelyhood of a high paying career directly in their degree field, it probably won't make much difference if they go to state school or the most expensive private school out there.

If the kid is talented in math/science and wants to major in science, engineering, or some other field where the school makes a difference in terms of education and/or job opportunities, I'm all for paying for a top school where their peer group will be other top students in the field and their degree opens doors.

In some states, the state school IS a top school. That's the best of both worlds. :-)
__________________

__________________
lrak is offline   Reply With Quote
Old 02-07-2011, 10:39 AM   #83
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
Quote:
Originally Posted by youbet View Post
Seems like a bit of a contradiction there.

Yes... a bit... but the vast majority of 'us' here with children live in school districts that teach children quite well... and we are not paying tuition to get it..


Even the bad ones will teach students who are willing to learn pretty good..

Now, if you children are not that smart and are not putting in much effort and you live in a bad school district.... then maybe.. MAYBE, a private school would help them to achieve more than a bad public school...
__________________
Texas Proud is offline   Reply With Quote
Old 02-07-2011, 10:43 AM   #84
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
Quote:
Originally Posted by youbet View Post
I bet you earned more than the $70K from the OP... if you did, then maybe your answer would have changed...

Actually... no I did not... I did not have children when I moved to my old house (it is in the same school district I am in now)... but I chose it thinking that I might get married and have kids... at the time I was making $38K... I did not start to make good money until about 10 years ago... in my 40s....


And there are plenty of houses that someone making $70K or less can afford around here... and even if you make less... there are apartments...


Finally... who in their right mind would spend $20K for education if only making $70K... just does not make sense...
__________________
Texas Proud is offline   Reply With Quote
Old 02-07-2011, 12:02 PM   #85
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,382
Quote:
Originally Posted by MDJO View Post
Our kids went to a great public school system for k -12, then went on to public colleges. I went to a private Catholic school from 1 to 9, then switched to public schools. I was an entire year ahead of everyone else in my grade when I switched.
This was true 50 years ago, and it is more true today.

A Catholic School may be cheaper than a typical prep school or country day school, and except in rare circumstances where the public school does not have to take all comers, or where it is open only to a very affluent neighborhood, the Catholic School will be academically better, but perhaps more important, less likely to get your kid assaulted.
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 02-07-2011, 01:49 PM   #86
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Quote:
Originally Posted by Texas Proud View Post


Finally... who in their right mind would spend $20K for education if only making $70K... just does not make sense...
OP has already mentioned this is all hypothetical. And, yes, the figures he threw out that his "imaginary friend" would be spending are ridiculous. I think the thread quickly went away from the make believe scenario that OP threw up to a discussion of public vs. private education in general.

So, to go back to OP's unrealistic, hypothetical scenario, would I recommend that a couple with a modest income pay big bux to send their kids to private school when in their case there is no advantage to doing so? Well....... let's see...... thinking ..... thinking.... thinking.... NO! No, I would not make that recommendation.

In my own case, the public HS I attended really, really stunk academically and I was fortunate enough to attend a small, private college that bailed me out. So, that worked for me. In hindsight, it was money well spent and was a big factor contributing to reaching FIRE. Grad school was started at a large, public university and finished at a private school, employer paid.

In my son's case, it was public schools for K - 12 and BS. A private school (paid for by his employer) for the MS. That seems to have worked.

If our local public school system had been as horrific and scary as the Chicago Public Schools I attended were (at least when and where I attended), I'd have gladly paid for DS to attend private school, if a good one had been available, in our circumstances. Don't know if I would have moved to a better school district as an alternative. I'd have to understand how far away that would have been, what the taxes would have been, housing costs there, etc. All unknown and hypothetical at this point in time but certainly a possibility.

I do know I would have been flexible and avoided any stand where schooling had to be public or private "no matter what."
__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Old 02-07-2011, 07:59 PM   #87
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 19,400
I have been off...

Quote:
Originally Posted by youbet View Post
I paid for an education, not vocational training...
Well, talk about education, if it is for one to be a well-rounded person, there are other ways to do it than to learn in school, and a lot more satisfying. In fact, looking back, many of the things that I learned and still remember to this day, I learned myself from books. Whatever one teaches himself, stick the best. Often, the school function was to apply pressure for me to crack the books and to memorize some things so I could pass the tests. Yes, I was smart , but also liked to goof off doing my own nerdy things.

My role models when young were inventors like Henry Ford or the Wright brothers. Later, it was the Silicon Valley nerds who built cool things. These people did stuff that were simply not in any textbook.

And a curious point about Ivy League Schools: they are difficult to get in, and the curriculum and standards are higher than other schools. And their graduates would have a higher average intelligence and better knowledge, even at entrance. I would not dispute the above points.

Then, why is it that many of our nation leaders, of all different political inclinations, who were graduates of these schools did not escape name calling, which are mostly degrading and insulting their intelligence? Their credentials are not universally honored. Obviously, being from these schools may not guarantee one any respect!

Ah, I still say one needs a diploma mainly to get a job. The value of it is to open the doors more than anything else. I just wish I had the ingenuity and inventiveness of these geeks that speak for themselves, without needing any endorsement from any institution. But as I was not that smart, and neither are my children, we need something to show.

Quote:
What do you wish for your kids NW?

I wish for my children to be happy, and that in the pursuit of their happiness, they will not break any laws, violate anyone's rights, do unethical deeds. And same as their parents, because they are not ascetic, they will need a certain degree of material comfort, which requires them to be able to make a living. And in generating this income, I hope they will not have to suffer fools in their workplace. I hope they will get some satisfaction out of their work, to feel some pride in what they produce.

About ER, yes, I hope they will reach FI. But how they get there is important too! I hope they will be able to do it on their own, for their own sake. Yes, even if FIRECalc says that it is likely that I will be able to leave them enough for them to ER, if I can stay as frugal as I have.

I almost forgot this most recent development. My daughter had been working full-time while finishing her accounting degree. Then, she changed to a better job after graduation and her new employer pays for 1/2 of the cost of her graduate study. So, she is taking some legal courses while thinking about a CPA. So, her happiness is now in learning more. This embarkment on a graduate degree was initiated by herself, no pushing from me! And I could not believe that the state U now charges as high as $750 per graduate credit hour, which means more than $22K a year in tuition.

And then, my son recently said that he wanted to get a Master in Engineering also. It appears he liked some elective courses that he had, and that they just whetted his appetite and did not go far enough. No pushing from me here either. And it looks like he is getting an internship at a major government research lab. It was all due to his own initiative too!

I guess our work as parents is about done. I am goin' RV'in.
__________________
"Old age is the most unexpected of all things that can happen to a man" -- Leon Trotsky
NW-Bound is offline   Reply With Quote
Old 02-08-2011, 01:28 AM   #88
Thinks s/he gets paid by the post
packrat44's Avatar
 
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
Quote:
Originally Posted by NW-Bound View Post
And I could not believe that the state U now charges as high as $750 per graduate credit hour, which means more than $22K a year in tuition.
Many years ago I complained about paying high tuition at a Catholic college at $35/credit hour for undergrad classes. I believe my grad classes cost slightly more. At least the GI Bill helped with the tab.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
packrat44 is offline   Reply With Quote
Old 02-08-2011, 11:33 AM   #89
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 13,260
Quote:
Originally Posted by packrat44 View Post
Many years ago I complained about paying high tuition at a Catholic college at $35/credit hour for undergrad classes. I believe my grad classes cost slightly more. At least the GI Bill helped with the tab.

I got my masters at a Catholic college and the cost was $750 per credit hour back in the early 90s... when I started they were about $500 per hour...

I was on the 6 year program as I needed continuing education for my CPA... so, got an MBA...


WOW... just checked and they have only gone up to $872... wonder if mine included some kind of fee that is not in the above number...
__________________
Texas Proud is offline   Reply With Quote
Old 02-09-2011, 12:56 AM   #90
Recycles dryer sheets
 
Join Date: Sep 2009
Posts: 353
Quote:
Originally Posted by packrat44 View Post
Many years ago I complained about paying high tuition at a Catholic college at $35/credit hour for undergrad classes. I believe my grad classes cost slightly more. At least the GI Bill helped with the tab.
Many years ago my classmates complained about receiving too small of a stipend, "impossible to live on", (on top of $0 tuition) from one of the top universities in the world... I guess it's all about anchoring of your expectations...
__________________
smjsl is offline   Reply With Quote
Old 02-09-2011, 01:22 AM   #91
Dryer sheet aficionado
 
Join Date: Feb 2011
Posts: 34
I feel like I'm a different position in life than most on this board, so I'd like to add my commentary.

I'm 29, and I did not go to college after high school because I had started a business. My two younger siblings however did go to college, of which my parents paid every penny (60k in the one case, 80k for the other). I don't feel that it was worth it for them to steal from their retirement to do this. My siblings could have gotten loans, and the only difference it would have made is they would have had to suffer a slightly less spoiled lifestyle upon entering their first job. The student loans I'm aware of are usually at least a 10 year payoff, and it really just amounts to an extra bill in the budget. The money saved not paying that bill just goes towards a consumer lifestyle, it isn't invested. And even if it were invested, it would be better invested with the extra time allowance in the parents portfolio in the first place.

I think most parents just feel like it is the right thing to do, but I just don't know about it. I think if a kid is not going to go to school on loans, then maybe chipping in or paying for the education is worth it. But in the comparison of a kid taking on the debt themselves vs parent paying, I think its teaching better financial responsibility from an early age.

In my own family situation, I have to see my parents, one 63 and the other 60, with roughly 500k of savings and no pensions. My younger siblings are not going to provide for them if they lose their nest egg in retirement. They are grateful, but they will never "pay it forward".
__________________

__________________
verygoodthings is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
24 years old going on 25 with no kids, and I want to retire by 45. GhostPepper Hi, I am... 14 12-28-2010 10:51 PM
Education Loans: Stafford-vs-Private wrigley FIRE and Money 1 06-17-2009 09:22 AM
Private sector/no pension FIRE success stories ziggy29 Young Dreamers 25 02-21-2009 06:24 AM
What to do? Lake House or earlier FIRE ? panhead Young Dreamers 29 06-13-2006 11:05 PM
Easier to FIRE with no kids? REWahoo FIRE and Money 44 11-13-2005 09:49 PM

 

 
All times are GMT -6. The time now is 06:03 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.