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Old 01-19-2017, 09:35 AM   #41
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My thought has always been: if he's a smart and passionate student who really wants to study (insert STEM major here) and the best program is at Stanford; we will find a way to afford Stanford.

If he is an average student who really isnt sure what he is going to major in and is probably going to spend too much time drinking then he's going in state.

While I want to give my child the best chance of success, I cant see paying an extra $100k (probably $500k by the time he is 18) just so he can go to an expensive private school and drink there.
With our 4 month old, we've talked about the same type of things and right now are funding a 529 for her with the intent of matching in-state tuition wherever we are living in 18 years. Anything above and beyond that, she will have to figure out how to fund. Both of us went to (the same) public University and we're doing just fine. It becomes a value discussion, and I don't think there's enough evidence out there to say that a degree from a private school that costs hundreds of thousands of dollars more than the degree from a public University is worth it. If she wants to find out for herself, she can earn scholarships like her parents did, apply for loans like her mother did, and work part time as both parents did. YMMV!
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Old 01-19-2017, 09:40 AM   #42
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Join Date: Jan 2017
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Originally Posted by nash031 View Post
With our 4 month old, we've talked about the same type of things and right now are funding a 529 for her with the intent of matching in-state tuition wherever we are living in 18 years. Anything above and beyond that, she will have to figure out how to fund. Both of us went to (the same) public University and we're doing just fine. It becomes a value discussion, and I don't think there's enough evidence out there to say that a degree from a private school that costs hundreds of thousands of dollars more than the degree from a public University is worth it. If she wants to find out for herself, she can earn scholarships like her parents did, apply for loans like her mother did, and work part time as both parents did. YMMV!
I hear you loud and clear. I went to a top 20 private college, funded by my parents. I enjoyed my experience but got my first job out of college through a friend of a friend so it wouldnt have mattered where I went (and future career prospects didnt matter on my alma mater either).

My wife went to an in-state school, found her first job through the career center and advanced her career as well.

We both do fine but certainly the expense on my undergrad wasnt worth it. The expense of my part-time MBA however is a totally different story. Best $80,000 piece of paper ever

Good luck w the 4 mo old. it gets a lot easier i promise
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