Our Kids: College Questions

[wizards8507]

How do you wind up with graduates who earn less than the US median value for all individuals?

Starting salary versus mid-career salary. My dad is a factory worker with no education and he earned more than me (Note Dame plus a Master's Degree) until I was about three or four years out.

 

[ND NYC]

since 529s can cover elementary and high school tuition now (from the trump tax bill passed late last year) is there even any need for having a Coverdell?

 

[wizards8507]

since 529s can cover elementary and high school tuition now (from the trump tax bill passed late last year) is there even any need for having a Coverdell?

Yes. Coverdell lets you invest in whatever stocks, mutual funds, ETFs, or bonds you want. 529s limit you to whatever funds are offered by the sponsoring state.

 

[ND NYC]

Yes. Coverdell lets you invest in whatever stocks, mutual funds, ETFs, or bonds you want. 529s limit you to whatever funds are offered by the sponsoring state.

but u can still "pick from" which funds the 529 offers, no? its not like you don't have any options; I may roll my kids Coverdell accts into their 529 (I think that an option now?), it all gets so confusing.

 

[wizards8507]

but u can still "pick from" which funds the 529 offers, no?

It varies widely from state to state. You're also free to use 529s from other states, but make sure to read all of the fine print.

For example, I don't really love the fund options in Connecticut's 529, but I get CT state income tax deductions for contributing, so I deal with it.

 

[MNIrishman]

Starting salary versus mid-career salary. My dad is a factory worker with no education and he earned more than me (Note Dame plus a Master's Degree) until I was about three or four years out.

Come on, man. Have a little faith. The article presents mid-career salary information which I compared to BLS info for comparable demographics. Any college degree worth the paper it's printed on should come out ahead or at least even, but many don't. There's some fuzziness with cost of living but it's hard to account for that without more data.

 

[ACamp1900]

Come on, man. Have a little faith. The article presents mid-career salary information which I compared to BLS info for comparable demographics. Any college degree worth the paper it's printed on should come out ahead or at least even, but many don't. There's some fuzziness with cost of living but it's hard to account for that without more data.

You mean my degrees in social work and fine arts should have paid me more??? !!!

 

[Bluto]

Here's one for the engineering folks.

So far my kid has been accepted to the following as a Mechanical Engineering Major.

Harvey Mudd
Cal Poly Pomona
Worcester Polytechnic Institute
Rensselaer Polytechnic Institute
University of Urbana Champagne
UC Merced
UC Irvine
University of Nevada Reno

Anyhow, thoughts? For example, is the Harvey Mudd price tag worth it?