Depends on the field of study. If you’re talking the next step is law school, then you are probably right. But everything else, it’s more a factor of you have that piece of paper than what it says on it. In fact, I would argue that a higher GPA from a “second tier” school is better than a lower GPA from a “first tier” school.

I did follow my own advice. it’s just that when I went to school my choice was a “second tier” and my friends and I like to joke that we probably wouldn’t even get in today. I got student loans for about 25% of it, I got scholarships for about 25% of it, I worked my tail off during the summer and while I was in school for 25% of it, and Mom & Dad picked up the rest…about the cost of a car payment (other than the occasional infusion of beer money or winter semester tuition because of said beer money, but I digress…). Then again, I was selfish and could have gone to a state school and Mom & Dad wouldn’t have had to pickup anything. But if they didn’t have it, I would be SUNYPotsdam89. Would I make the same choice to spend $42,690 now (although we know nobody pays full retail)? I can tell you that I recommended my niece NOT go there because they weren’t offering her enough scholarship money in comparison to their competitors.

The point was not to pick on you and your choice. I think it’s admirable that YOU made the CHOICE on how to fund YOUR child’s education. The point was that there are other affordable options to people with less means. Not everybody has to go to an almost-ivy (lawyers excluded) to get a good start on life.

Wilton Businessman my friend, from what I know of you, I’m guessing that the college you went to now charges $42,690.

Since a college degree is the lynch pin to everything else, and what college matters, especially when it comes to getting into graduate education programs or being competitive in the marketplace, I will do whatever is needed to give my child a fighting chance. Even if that means reducing my quality of life for what time remains.

I think community colleges are great, as are many lower costing colleges and universities, but as we know…. That piece of paper will determine what options exist at the end of the next four years.

Regardless of what the Federal Government says you can afford, you are the master of your own finances. If you can’t afford $30K a year for college, you can’t afford it. What about community college? What about commuting? Sure, everybody wants to go away to school, but if you can’t afford to go away, don’t.

There are values out there. Sure, it might be a “second tier” school, but there are dozens of schools ready to throw scholarship money to your Connecticut educated children. These schools know that they are getting quality students from families that can probably afford to lay down $15K a year without too much difficulty.

More power to you for taking on that kind of debt. I can’t say it’s the financially smart thing to do and I hope your student realizes what a sacrifice you made for them. Imagine how many kids you could send to community college with $160K,,,, Just saying….