Hi SoWallers and Wise Advisors,
A couple of us on this board (I'm sure more than a couple) are getting ready to send teens off to college. Do you think private college is worth the cost and why or why not. What should we be thinking about? My teens are interested in out-of-state mostly small private colleges. I'm certainly willing to support their interest in a private college, especially if it's going to pay off in their lives in terms of quality of education, quality of life for 4 years, helping them grow up to be wiser/happy adults who are loyal to their college as alums, etc. But it's good to get ideas (especially from those of you who already put teens through college or who recently graduated from college). Thanks.
Replies
31
beats on hood
In the State of Georgia it's all about the HOPE Scholarship at public institutions. Many students take a minimum load (usually 12 hours) to try to maintain their GPA at 3.0 or above to keep free tuition. A 120-hour degree done 12 hours per semester means 10 semesters (5 years).
Edited
Beach Fanatic
I am currently a student at a private university, and I have happily decided to transfer to a state school.
I would rather have my family's money go towards my education than the campus landscaping.
I would rather have my family's money go towards my education than the campus landscaping.
SoWal Insider
By doing your homework and finding several schools that meet your student's needs/criteria, state or private, then you have some wiggle room. In our case, when it came down to the top 4 acceptances, it was whoever was giving the most money. Since we already knew that each were comparable, it was a no brainer.
Again, privates can be less expensive than state schools. I would consider them as equals during the early stages of the search.
Again, privates can be less expensive than state schools. I would consider them as equals during the early stages of the search.
Beach Lover
When the "fat envelopes" go out from the admissions offices all over the country, they almost always include the financial aid offer. They know that families with limited resources can't make a decision without running the numbers. My advice would be to apply to the top schools that are of interest and see what happens.
At need blind universities, this offer is sort of a guarantee that you'll be able to afford it with a mix of scholarships, loans and work study options. Public Universities are more limited in their ability to make those offers as legislatures and boards can pull the rug out at any time. And these days, the endowments are still in better shape than State budgets.
When I got my packages in the mail, my state school option was ironically the most expensive. It was a very pleasant surprise.
At need blind universities, this offer is sort of a guarantee that you'll be able to afford it with a mix of scholarships, loans and work study options. Public Universities are more limited in their ability to make those offers as legislatures and boards can pull the rug out at any time. And these days, the endowments are still in better shape than State budgets.
When I got my packages in the mail, my state school option was ironically the most expensive. It was a very pleasant surprise.
Beach FanaticAuthor
Useful info all around, especially the financial aid piece. And that's not a dorm photo is it, Chip and Dale?
SoWal Insider
ditto here what chip & dale said.
Also, for privates, they almost all knock off $10K on the first round.
It's the same for colleges as for a new car, no one ever pays sticker price.
Also, for privates, they almost all knock off $10K on the first round.
It's the same for colleges as for a new car, no one ever pays sticker price.
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