[quote=CA renter]Yes, I get your point, but one might also argue that money is more valuable when you are starting out, so saving that money now — possibly the difference between staying out of debt or taking on loans — might be more valuable than having that 1 year’s worth of extra income later.
Of course, there are so many variables involved.
Correction regarding mom…it was cum laude, not summa cum laude. Still, I probably didn’t give her enough credit, especially since English wasn’t her native language.[/quote]
Remember that I use 1 year on the job salary and not the last year on the job salary. That would make a big difference too. I look at that $4k-$5k in extra up front cost as being a good investment to making anywhere between $20-200k+ (depending on whether you use 1st year or last year salary and which profession you’re in). Also, this is assuming the student doesn’t work or if the parents doesn’t help with school. If the student work, I’m sure they can work an extra shift or two to scrape together ~$1k-$1200/year.
I gave my dad all the credit he deserves, especially after I finish college. He worked, took care of 2 kids, and didn’t even speak a single word of English a few years earlier. Yet, he graduated cum laude as well (or was it magna cum laude, I don’t remember exactly, but regardless, it impresses with his achievements under that circumstances).
