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October 11, 2010

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My kids are to young (10 and 6), but it never hurts to read the book just to see what the author has to say :)

I look forward to your review!

For discussion:
1. If parents have enough money to pay for college AND properly fund their own retirements, should they pay for college?
2. What college cost should these parents consider reasonable? (State at $10K per year?, Private at $50K per year?)

Maybe I'm missing something, but how do you not mention the one most important indicator of whether a college education is worth it or not: what you major in.

If your kid gets into any "respectable" college and majors in philosophy or women's studies, is that going to help her at all economically? Far better to take out loans to become a civil engineer than to pay out-of-pocket for a useless degree.

I wish I would have not taken out student loans. But I did not have a choice. The loans help me to get where I am right now, eventhough I am still trying to pay them off.

Greg --

There's much, much more on this book to come -- including the selection of a major. Stay tuned...

One thing which I say time and again to people is that the tuition quoted in the brochure is the _full sticker price_. Don't be dissuaded from applying to a school because it seems expensive. Many of the top flight private schools have huge endowments so most of the students get some sort of financial aid. With the so-called "cheaper" public schools cutting back due to state fiscal woes, many are actually raising tuition and cutting back on scholarships. What that means is that it might be cheaper going to a private college.

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