How much is too much to pay for a basic college degree?

iVillage Member
Registered: 01-30-2007
How much is too much to pay for a basic college degree?
23
Tue, 01-24-2012 - 2:39pm

Hi, I haven't been on this board in a while. I have two high school seniors, so you can probably understand why! Anyway, I would appreciate some feedback on a situation.

First of all, my daughter (and son as well) is going to inherit a large sum of money in September when she turns 18, which she knows will be her college fund. She is an excellent student and applied to three prestigious colleges. All of them accepted her and offered her nice scholarships.

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iVillage Member
Registered: 11-01-2001
twinsnbenz wrote:
Isn't a bachelor's degree a bachelor's degree? Maybe I'm wrong...
I think you are wrong.
iVillage Member
Registered: 03-27-2005

My doctor said that the smartest thing he ever did was get his Associates at community college (paid cash), finished up his Bachelors at the state U.

Avatar for suzyk2118
iVillage Member
Registered: 07-30-1997
I think that's very dependent on the student. In my case I felt like you (and in my case my parents were funding the degree for me); I couldn't spend lots of money on undergrad when I knew I was headed to grad school - I was told our local state U was as good as any for the BS, do well (I was in the honors program) and you can pick your grad school (I did; did fine but then TA'd so I paid my way in grad school). I got in to places like MIT and Notre Dame and being female wanting to go technical, was serenaded by various Us to go to their U - I just couldn't make my parents pay for those places so I opted for the state U and did fine. (I didn't go where 'everyone else' was going; they went to the big campus of the state school; I stayed at the local one as it was somewhat smaller (mostly commuter at the time))

DS, OTOH, is at a local private U - it's the right size for him and has proven to be a great fit. I'm using my inheritance to put him through (my choice); I'm sure my parents would have wanted it that way and it's fine with dh and I. He knows where he wants to go for grad school (also private) and already knows what he needs to take to get in,etc. So in his case, I think this was a good choice.

Is where she wants to go a good fit for her personally, regardless of not being 'one fo the best for chemistry'? Could she go for a year and switch if it ended up not to her liking once she tries it a couple semesters? In my case, I let ds choose so he'd have the passion and drive to do well, having it been all of his choosing, and it definitely has paid off so far. FWIW.

Sue
Avatar for mahopac
iVillage Member
Registered: 07-24-1997

I agree with everything ekmama wrote.

Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999

This has been an frequent topic of conversation on the "Parents of College Students" Board.

iVillage Member
Registered: 11-28-1999

First, sabr, since this is an inheritance, it IS the DD's money--of course parents can exert certain pressure and influence on how to spend it or refuse to fund other things, but they do not have to GIVE the DD the money--it's her money, not theirs.

I generally agree w/ the other things you said, although I did go to a smallish Jesuit college for both undergrad & law school--there were several classmates of mine in law school who had gone to the same college.

Avatar for mahopac
iVillage Member
Registered: 07-24-1997
sabrtooth wrote:

I just want to respond to your comment

Avatar for sabrtooth
iVillage Member
Registered: 12-03-1999

<<and that you can afford isn't the best choice overall, in terms of how your life turns out.>>> In years past, and certainly when WE were teens, I would have said that was true.

iVillage Member
Registered: 08-08-2009

I can’t disagree with anything above.

All of us make what we think are the best decisions and there is really no way of knowing for sure that the choice was best.

iVillage Member
Registered: 11-21-2004

she's young, she doesn't yet know herself and surely does not understand the value of money.

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