mkvc
1304
A truly top college remains a good deal.
I have paid for 2 kids to go through Yale College, and it has been absolutely worth it, both for their undergraduate experiences and for the its effects on their post-college lives.
Very few schools can provide that. There plenty of schools that cost approximately as much as Yale and don't provide anything remotely similar either during or after college. I would hesitate to spend money on one of those schools if there were a state school option of similar quality. For clarity: in my experience, a private college provides zero "prestige" value unless it is very highly selective. (Good education is available in most colleges if the student is motivated to take advantage of it, so I don't consider that a differentiator.)
That being said, education is important, and I would absolutely have given up all my watches and other luxuries to provide even a relatively small incremental improvement in my kids' educational opportunities.
I don't think that graduate education is at all comparable to undergraduate in this regard. Graduate school is where you were trained; college is who you are.
Cost of college education in the US is out of hand
My son is going to college in September and he is choosing among a Canadian public school, an in-state US public school and a private school. The tuition costs are from $6000CAD to $12000USD to $62000USD. All three are top universities. As a matter of fac...
It depends...
on the field of study. If I had been more judicious for my undergraduate study, I would've applied to the fancy private schools because they can be such a booster in my field if you do well. That said, I went to a big public institution and turned out fin...
Yeah that’s what my son is trying to tell me.
I do see the benefit of a smaller private college provides to their students. But for quarter of a million? 😀
That's a huge sum, absolutely.
I'd have been on some amount of financial aid if I went to a place like that. It depends on the field. Since I went on the academic route, the degree at the start mattered since it was BA --> PhD (and hence, letters of recommendation, writing opportunitie...
Sounds a bit like what we face in the watch world:
Conspicuous consumption without a commensurate difference in the product.
But there is definitely brand recognition
and other people who "own that brand" will be inclined to favour you.
Having put 3 dual US/Canadians through college.
Do the undergraduate in Canada and grad school in the US. McGill UT Vancouver. All are first rate. There is one big difference and that is class size if your kid goes D3 for example. Also depends on the major. If it’s a non economic major then Canada for ...
Yeah both my wife and I went to UT and we turned out to be ok 😀
Also my older son is going to UBC and he is loving it there
I wouldn’t put too much credence on school rankings.
In fact I think for a bachelors degree it doesn’t really matter as it’s almost seen as a high school diploma did some 20 years ago. If he plans to go beyond a bachelors then it might matter a little more but not much. It all comes down to the standardized...
This
I followed similar path but state medical school. Less debt but less 911 speedsters 😘 I think a top student at a well respected public school will do fine getting into a grad school. I even know people top law who went public uni then top private law scho...
"...Wife just asked me which watches I plan to sell to fund his education."
The one question no WIS ever wishes to hear... the dreaded collection liquidation :-( Hang in there my friend +++
My two boys have gone to private schools their entire lives...
...I always joked with my wife that had they gone to public schools, we'd both be driving Ferraris : )
In France, out of business schools,
Most of the best institutions are public and demand modest fees; students at some of the very best ones are even paid a salary by the State as they are considered training civil servants, be it as aspiring teachers (the Ecoles normales supérieures for sci...
When it comes to such choices, I suppose I would only pay the highest fee
If the school's prestige would allow the kid to escape the competitive pressure on the job market.
Or if I would feel attending such a place were somehow the best way for him to study,
Because of his specific needs or aspirations. But the sums you mention are impressive!
Agreed that tuition costs in the US are out of hand...
As others have said, I think the importance of the school can be very field dependent. You could consider gifting part or all of the tuition difference to your son if he chose University of Toronto as an incentive. The amount is certainly large enough tha...
Vanderbilt is a fine institution.
Depending on the degree he is pursuing, can well be worth the difference. Especially if he stays in the region to pursue employment.
Congrats!
First off congrats to your son on securing such good options. Did I see MIT in one of the pictures? If this is the private school that you mention, I would at least consider it. It’s not that the quality of the teaching is going to be that different but w...
Thanks for the nice words. It’s actually Vanderbilt.
His grandfather went to MIT but unfortunately they don’t look at legacy😀
All good advice here....
There's clearly no 'silver bullet', and he'll likely end up doing fine either way. Like others have mentioned, I would balance the decision on the field of study, and the quality of the student body that might affect future job opportunities. I went to pr...
A truly top college remains a good deal.
I have paid for 2 kids to go through Yale College, and it has been absolutely worth it, both for their undergraduate experiences and for the its effects on their post-college lives. Very few schools can provide that. There plenty of schools that cost appr...
Yes very true.
At end of the day we will support him no matter where he goes. We just don’t want the decision to be made purely based on name recognition. I am more than willing to liquidate my watches to support his college education. But hopefully I don’t need to as l...
"College is who you are"... - as much
as I'm a sucker for good advertising copy, I hope to God this is not true. Cheers Marc
1. The endowments of these schools are completely out of hand. As are the interest rates for student loans.
2. My advice to my nephew that graduates Berkeley law and is STILL having trouble finding a full time job was if it’s not a top ten school don’t bother. 3. My niece just got into Yale MBA (if it makes you feel better she didn’t get into Vanderbilt undergr...
:))
Equally excellent in my opinion. If I end up having a small boat I'll call it Ol' Haven or something along those lines....
Really makes you wonder...
Class sizes increases, replacement of professors with adjuncts, and continual grade inflation all suggest that education is worse even as the University collects more tuition. It isn't going to supporting the research mission of the University either. For...
Frankly, the way the US colleges are
“indoctrinating” kids these days instead of “educating” them, many are re-thinking sending their kids to college at all. I’m not sure I’d send my kids to college these days the way they are. Don’t have to make that choice though as they are older and thro...
Save the difference for a Masters or MBA…
Bachelors degree is not enough nowadays…so get a good, reputation college and then further studies.
Well I did this
I went to the University of Toronto then got my MSc at The London School of Economics. Even though I was born in UK but grew up in TO let's just say England is expensive and I wouldn't have been able to attend if my BA was also overseas-just too much.
we do not have this problem in switzerland... public universities are within the top 20 of the world.....
...and the fees? Well, for locals, they can be paid from the petty cash
+1 indeed, a few hundred dollars per semester
And ETH for example is consistently in the top 10 worldwide! Dirk
Tell your son go to the University of Toronto. Tap rated. I know it’s reputation well. Save the money for graduate school.
My daughter went to a large university which was public and then went on to get her Pharm D degree at the same university. The tuition was cheaper than the high school I sent her to. My son went to undergrad and a public university, then got his MBA and j...
Be sure he studies what he really wants to do. Our son went to one of the
top universities in the US. He got a business degee, woke up one morning and said " I can't do this the rest of my life" He then went to medical school at the same university he got the business degree from and now he is a radiologist in Massachusetts. Al...
US Universities prey on the parent guilt factor...
Many parents will feel guilty not spending all they could afford if their child is not "successful". "If only we had sent them to High Priced Prestigious School X instead of Affordable State School Y...perhaps they'd be uber-successful by now...but you di...
We have no children
so may not be appropriate for me to comment. But from a financial standpoint. If you take the quarter million of tuition fees and invest it prudently, the outcome may be as rewarding as what that piece of paper may bring eventually, strictly on a financia...
Thank you all for your kind words and suggestions.
I just want my son to look at things holistically before making the decision. Also for people in European countries with free education, do you want to adopt a college bound boy? I’ll make sure he comes with a Milgauss strapped on his wrist 🤣
You remember the joke about secretaries, right? . . .
. . . guy had to hire one of three candidates: a blonde, a brunette, and a redhead. Well, obviously, the school your son chooses should have the best football team. 🏈
I went to a hippie college (Hampshire) in ‘72
which widened my horizons but was too costly so I took off to Bowman Tech for clock and watch making. Built a clock, hung a shingle and made no money Went back to UMass for BS/MS ME (which is probably what I should’ve done in the first place, but it was t...
