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I don't know what you think a "luxury" university is- even government run colleges in the U.S. can be expensive. A local 4 year degree at my city's state run u
by staticman2 4y ago
I don't know what you think a "luxury" university is- even government run colleges in the U.S. can be expensive.
A local 4 year degree at my city's state run university is around 18,000 to 22,000 per year for tuition. And that's without room and board.
In comparison a private liberal arts school near me is $65,652 per year for tuition alone.
To me the state option is still pretty darn expensive especially if you are also paying for the kids room and board.
- Spare_account 4y agoDoes the money for the college fees have to come from cash? University fees (in the UK) can be paid for by a student loan which is paid off once the student starts working. Parents don't have to pay for it
- jackhack 4y agostarting one's life with the (emotional/financial) weight of "just" $80,000 to $100,000 in debt is not a good strategy, in my opinion.
- Manuel_D 4y agoThe interest on those loans are pretty low. To the extent that people recommend you max out your 401k before paying off your loans. College graduates have lifetime earnings of 500,000 or more over non-degree holders. If 80-100,000 is prohibitively expensive then something is going on where universities are failing to deliver valuable and education, and the solution is those students stop seeing university as a good investment and stop propping up failing schools on credit.
- staticman2 4y ago"The interest on those loans are pretty low. To the extent that people recommend you max out your 401k before paying off your loans. " You say this like this is normal advice. People make all sorts of wild recommendations during a bull market, it wasn't that long ago that people were trading stories of buying Bitcoin with the money their grandparents gave thrm for college.