My daughter is applying to six schools—more than my oldest did three years ago—and none of them are really safeties. I graduated high-school in 1971. My first college was Washington University in St. Louis as a commuter. Tuition then was $3300/year. Today it's ten times that for tuition alone. My older brother went to Yale at $7000/year including room and board. Today it's about $48,000/year. (My high-school girlfriend went to Bennington at $9000/year.) But then everything is ten-times what it was then. The cheapest BMW was about $3300 in 1971 and today it's about $30,000. Twinkies (my favorite inflation-measurement tool) cost 12¢ a two-pack and now they're about a buck. Tootsie Roll pops were 2¢ now they're 25¢. Gas was 22¢/gallon when I filled up my '71 BMW R50/5 to ride to school in St. Louis, and today I filled up my '95 525i with Sam's Club premium for $2.28. I remember reading in the book Love Story, that the top graduate from Harvard Law was making $12,500/year in 1968 and I believe that's about 2/3rds of what a Lamborghini Miura sold for then. Today?
And as for financial aid qualifications, I told a friend that if he took the $50,000 he'd saved for college tuition and just bought a new Hummer and parked it in his driveway, he'd be able to qualify for aid. They don't seem to count money spent on your vehicles. I don't know why but the question never came up, ever! I'm not complaining! I need the help, and I'm nothing but frugal with my transportation needs.
Anybody else have children waiting to hear from colleges?
-
Kyle in NO
- Posts: 17638
- Joined: Feb 12, 2006
- Location: Nasty Orleans------> Batten-Rooehjch------>More Souther LA
Actually the closest school to us as far a 4 year school and where I got my degree, oh well, who needs to retire anyway