[Mick]

Couple of thoughts:

1)  In 2009, I saw a presentation that said that the discounted rate that virtually anyone could get from virtually any private institution essentially made the cost of public school and private equivalent assuming that (a) one attended public school for five years and private school for four years and (b) that you worked the fifth year after graduating from private school.  Seemed pretty compelling, and I know a number of people who have attended some very expensive schools for very little money, some at rates that are below public school rates.

2)  I have a friend whose daughter is attending one of the top eight schools on the list with an endowment north of $1 mms. per pupil.  He's suffered a set of health- and business-related reversals that are breathtaking.  He's essentially lost everything; house, retirement, savings, job (for two years), wife had two bouts with cancer during that time.  His daughter's well-heeled school claims that no student graduates with more than (low level) of debt.  That may be true, but the girl's parents have fearsome levels of debt associated with her education.  They've tried everything to get the college's financial administration to budge, to no avail.  Six months after he lost his job, he spoke with Financial Aid, who literally told him "sell your house."  So he sold it.  Today, he lives check to check and he's more than half-a-million dollars in negative net worth and he has about $20k in liquid assets.  The college will lend him money, but won't give him a dime in financial aid, because he and his wife make $190k annually.  That they live in Silicon Valley with the attendant costs is immaterial.

[Mick]

Couple of thoughts:

1)  In 2009, I saw a presentation that said that the discounted rate that virtually anyone could get from virtually any private institution essentially made the cost of public school and private equivalent assuming that (a) one attended public school for five years and private school for four years and (b) that you worked the fifth year after graduating from private school.  Seemed pretty compelling, and I know a number of people who have attended some very expensive schools for very little money, some at rates that are below public school rates.

2)  I have a friend whose daughter is attending one of the top eight schools on the list with an endowment north of $1 mms. per pupil.  He's suffered a set of health- and business-related reversals that are breathtaking.  He's essentially lost everything; house, retirement, savings, job (for two years), wife had two bouts with cancer during that time.  His daughter's well-heeled school claims that no student graduates with more than (low level) of debt.  That may be true, but the girl's parents have fearsome levels of debt associated with her education.  They've tried everything to get the college's financial administration to budge, to no avail.  Six months after he lost his job, he spoke with Financial Aid, who literally told him "sell your house."  So he sold it.  Today, he lives check to check and he's more than half-a-million dollars in negative net worth and he has about $20k in liquid assets.  The college will lend him money, but won't give him a dime in financial aid, because he and his wife make $190k annually.  That they live in Silicon Valley with the attendant costs is immaterial.