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re: Seriously, how the F do people afford private colleges?

Posted on 11/1/16 at 5:45 pm to
Posted by djangochained
Gardere
Member since Jul 2013
19054 posts
Posted on 11/1/16 at 5:45 pm to
quote:

Daughter has TOPS


Them freshman ain't lazy
Posted by Whoopdedo_LSU
This is where I parked my car
Member since Oct 2015
1091 posts
Posted on 11/1/16 at 5:49 pm to
Girl I work with paid 20k a year for the private college she went to that was not prestigious and paid for it all in loans. For a business degree. She'll be paying it off the rest of her life.
Posted by CaliforniaTiger
The Land of Fruits and Nuts
Member since Dec 2007
5303 posts
Posted on 11/1/16 at 5:51 pm to
how much is LSU a year these days?
Posted by Maniac979
The Great State of Texas
Member since Jan 2012
1904 posts
Posted on 11/1/16 at 5:54 pm to
start a college savings account the day your infant gets a SS number. not really that hard.
Posted by REB BEER
Laffy Yet
Member since Dec 2010
16188 posts
Posted on 11/1/16 at 5:56 pm to
I knew a girl that graduated with $150K in student loans. She wound up with a $50K/ year job.

What a fricking idiot
Posted by Doosh606
The DC
Member since Apr 2008
3232 posts
Posted on 11/1/16 at 6:03 pm to
It's absurd, but that is the way our college system has been headed for a while. I think it's a combination of the student loan crisis created by government fiat, as well as the insistence that these big-name ivy and private schools somehow offer an education worth the price. For instance, in many degree fields, what school you went to far outweighs the GPA you achieved as far as getting a job goes. It's especially bad here the DC area, and law is by far the worst offender.
Posted by Whoopdedo_LSU
This is where I parked my car
Member since Oct 2015
1091 posts
Posted on 11/1/16 at 6:04 pm to
Better off going to a tech school. Probably won't ever make the big bucks but basically no loans.
Posted by Bestbank Tiger
Premium Member
Member since Jan 2005
71013 posts
Posted on 11/1/16 at 6:15 pm to
quote:

over 130k income for parents - you are paying it all


Wow. That's more than half your pretax income.
Posted by SuperSaint
Sorting Out OT BS Since '2007'
Member since Sep 2007
140462 posts
Posted on 11/1/16 at 6:17 pm to
quote:

his sister
pics?
Posted by Hammertime
Will trade dowsing rod for titties
Member since Jan 2012
43030 posts
Posted on 11/1/16 at 6:21 pm to
A lot offer large scholarships. If kids don't get them initially, hope they do well. Usually, colleges within the university are loaded with scholarships.

My younger sister didn't have a scholarship going into a $55k/yr college, and got two totaling $25k/yr after her first year
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 11/1/16 at 6:24 pm to
I have no idea how they do it, and no idea why they bother.

UT-Austin, UVA and a handful of other public universities are also very well-regarded. If you graduate with a top GPA from either you can go to just about anywhere you want for grad school, including Harvard, Stanford, etc.
Posted by Jim Rockford
Member since May 2011
98178 posts
Posted on 11/1/16 at 6:29 pm to
quote:

all are 70k per year for everything.
no performance based (academic)schollys

less than 75k income for parents - free
75-130 - you pay about 25k per year
over 130k income for parents - you are paying it all



I wonder how many forensic accountants work in the admissions office. I imagine there's a lot of creative stuff going on among families that just miss the aid threshold.
Posted by OweO
Plaquemine, La
Member since Sep 2009
113940 posts
Posted on 11/1/16 at 6:32 pm to
quote:

I knew a girl that graduated with $150K in student loans. She wound up with a $50K/ year job.

What a fricking idiot



So she probably pays what? $6k a yr? I am just guessing here, but if so.. Thats over 25 yrs she will be paying..
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 11/1/16 at 6:34 pm to
quote:

less than 75k income for parents - free 75-130 - you pay about 25k per year over 130k income for parents - you are paying it all


No idea about the other schools, but not accurate for Harvard.
LINK

From their current website,

Also affected by how many of your children or in college.

•Families with incomes between $65,000 and $150,000 will contribute from 0-10% of their income, and those with incomes above $150,000 will be asked to pay proportionately more than 10%, based on their individual circumstances. Families at all income levels who have significant assets will continue to pay more than those in less fortunate circumstances.
•Home equity and retirement assets are not considered in our assessment of financial need.

They also have a aid calculator on the site that will give an estimate of aid, a family of 4 with income of $165,000.00 and moderate investment assets would be expected to pay around $23k per year.
This post was edited on 11/1/16 at 6:38 pm
Posted by Jim Rockford
Member since May 2011
98178 posts
Posted on 11/1/16 at 6:47 pm to
quote:

a family of 4 with income of $165,000.00 and moderate investment assets would be expected to pay around $23k per year.


About 25% of after tax income. I'd be hiring a private detective to make sure junior didn't get up to any foolishness on my dime.
Posted by airfernando
Member since Oct 2015
15248 posts
Posted on 11/1/16 at 7:11 pm to
quote:

Jesus don't come cheap, brotha
Incorrect. Jesus comes free. All you have to do is ask. College tuition is a different story.
Posted by tween the hedges
Member since Feb 2012
20243 posts
Posted on 11/1/16 at 7:46 pm to
quote:

So she probably pays what? $6k a yr? I am just guessing here, but if so.. Thats over 25 yrs she will be paying..

Lol theres this thing called interest
Posted by LSULyle00690
Hoover, AL
Member since Sep 2004
7055 posts
Posted on 11/1/16 at 7:51 pm to
Student loans man, make your kid pay it back if they MUST attend a pricey school
Posted by patnuh
South LA
Member since Sep 2005
6709 posts
Posted on 11/1/16 at 7:53 pm to
I know two women who have degrees from private colleges like that and in these instances, one is a social worker and other is a school teacher...and they went to college to do that.

ETA: I also know some who are attorneys and make bank.
This post was edited on 11/1/16 at 7:54 pm
Posted by gthog61
Irving, TX
Member since Nov 2009
71001 posts
Posted on 11/1/16 at 7:54 pm to
quote:

no performance based (academic)schollys



That is fricked up.
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