BigZuck wrote:Monochromatic Oeuvre wrote:jbagelboy wrote:Mono's parents (as an example) support his continuing education, being that education constitutes a foundational value of the american (upper) middle class, responsible choice, upstanding boomer profession, ect. It not like they would hand him a 7 series BMW or a monetary equivalent if he took the UVA offer over CLS. He wouldnt personally be any richer.cotiger wrote:Side note: I know that this is pretty standard practice, but it seems weird to me. It would (totally hypothetically) incentivize choosing sticker at CLS over a full-ride at Penn. It would be irritating to me if my parents were willing to give me $250k for going to CLS but would only cover the 60k COL of Penn. I think a much better idea is for the parent to give 50% of any scholarship to the student in cash. That way, earning a scholarship is win-win for both parent and student and allows the student to decide for himself what he thinks is best.
It is a little irritating, as far as being completely financed to the tune of $250k can be considered "irritating" at all. I brought up that exact point. The eventual COA difference is going to work out to probably $125k. I asked my dad if I could have the difference, not to buy anything but to put in a mutual fund. He shook his head. I asked if he could do anything with that money--nothing doing. He stated very forcefully that the money was earmarked for education only, even if I'd rather have a UVA degree and a $125k mutual fund than a CLS degree. The money was only for "the best school."
I pushed the point until I could tell he was starting to get pissed and, well, you don't piss off the guy who's about to pay your entire three-year bill. It's a boomer thing, along with the "Every respectable young man needs to spend time in New York" and dat Ivy preftige. (My father and his two siblings have a combined seven Ivy degrees between them, so I guess Columbia saves him the shame of telling his friends his son is at a *gasp* STATE SCHOOL.)
What was your dad going to do with that 125K? Light it on fire? I thought you were an only child, you were never going to get that money (even as an inheritance)? I don't know what 125K will be worth in 30-40 years (both in terms of inflation and the interest that would accrue on it as it rotted away in some savings account) but it sounds crazy to me that you weren't going to get it eventually.
Anyway, I think we can all agree: lolrichboomers