College or car?

[flyoverstate]

$60k is common tuition now at private colleges. Add about $25k more for housing, food, books, booze. Scholarship money offsets some of that. Some schools now promise "as much financial aid as we think your family needs" which sounds like something a used car salesman might say.

We went through the "Financial aid office" wringer when one of our kids was accepted to a top tier private college. I'll never forget the shock of realization when I realized the financial outlay, it still affects us to this day; and I probably would have retired two years earlier had they gone to a state college.
It all worked out in the end. I know a lot of people with kids of similar ages with the same degree from the state school, and many are facing layoffs and stagnating job opportunities.

Had the request have been wanting to pay the same amount for a garden variety liberal arts college, we would have said no.

There has definitely been a bifurcation in the college world. Your school is either in the top tier and getting more applications than ever, or it is struggling to find students. There are a LOT of academicians being cut from colleges and universities as well. If you aren't tenured, your job security is tenuous.

Another HUGE factor for some colleges is the, shall we say, less than welcoming stance the US has taken with foreign students recently.

 

[Koolau]

We went through the "Financial aid office" wringer when one of our kids was accepted to a top tier private college. I'll never forget the shock of realization when I realized the financial outlay, it still affects us to this day; and I probably would have retired two years earlier had they gone to a state college.
It all worked out in the end. I know a lot of people with kids of similar ages with the same degree from the state school, and many are facing layoffs and stagnating job opportunities.

Had the request have been wanting to pay the same amount for a garden variety liberal arts college, we would have said no.

There has definitely been a bifurcation in the college world. Your school is either in the top tier and getting more applications than ever, or it is struggling to find students. There are a LOT of academicians being cut from colleges and universities as well. If you aren't tenured, your job security is tenuous.

Another HUGE factor for some colleges is the, shall we say, less than welcoming stance the US has taken with foreign students recently.

Have you found the non-state (small) college to be advantageous to your kids empl0yment opportunities? Was their clear advantage to the small college vs a larger state school in the actual education? How about in the "college experience" realm?

It may well have been worth the extra money but I would be skeptical for most students. I'm sure some students thrive in smaller schools. I found the "big, impersonal, state University" an excellent place to learn and to also "grow up" as I learned self-management.

We're all different and have different needs. YMMV

 

[flyoverstate]

Have you found the non-state (small) college to be advantageous to your kids empl0yment opportunities? Was their clear advantage to the small college vs a larger state school in the actual education? How about in the "college experience" realm?

It may well have been worth the extra money but I would be skeptical for most students. I'm sure some students thrive in smaller schools. I found the "big, impersonal, state University" an excellent place to learn and to also "grow up" as I learned self-management.

We're all different and have different needs. YMMV

The college absolutely helped get them into a top tier graduate program at a different, very prestigious university, and that has parlayed into a great career. Their undergrad was at a top 20 private school and their grad was at the school that is #2 in their field.

As I said, I don't think most "garden variety" small private schools are worth the $$$$$, but the smaller ones with great national reputations and low acceptance rates can be worth it, IMHO. YMMV, etc. This is not to say smaller "non-name" schools are bad in any way, but name recognition counts, especially when applying to graduate schools. There are a lot of smaller schools with great regional stature, but outside of that region, they are relatively unknown. As examples of schools that are truly great small schools (not necessarily private) with less recognition nationally are New College at University of South Florida, South Dakota School of Mines, and Colorado College.

 

[flyoverstate]

Wow, I just read an article about the struggles of small private colleges, I had no idea how bad the situation has become for some of them.

MSN

Things are not so rosy for some public universities, either.

Illinois lawmakers push university funding overhaul amid regional enrollment drops and U. of I. opposition

As enrollments drop at so-called directional universities, lawmakers are pushing a revised higher ed funding plan this spring despite University of Illinois opposition.

www.chicagotribune.com

 

[disneysteve]

Wow, I just read an article about the struggles of small private colleges, I had no idea how bad the situation has become for some of them.

MSN

Things are not so rosy for some public universities, either.

Illinois lawmakers push university funding overhaul amid regional enrollment drops and U. of I. opposition

As enrollments drop at so-called directional universities, lawmakers are pushing a revised higher ed funding plan this spring despite University of Illinois opposition.

www.chicagotribune.com

Yes it’s gotten quite bad. Both my Alma mater and my daughter’s have had to make significant cuts to programs, staff, real estate holdings, etc. to try and stay afloat. Demographics are an insurmountable challenge as the birth rate drops.