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US News Rankings: We're No. 28! Yay......at $75K a year?

I’m no Hatch fan, but what has Wake done differently than other schools? All schools overbuilt and tried to justify tuition increases that far outpaced wage or inflation increases. But tough to justify $75k annually for Wake when higher ranked schools are somewhat less.
 
DeacDiggler said:
a) i'm not paying to send my kids to wake
b) on an annual basis, someone bitches about how we're not climbing the rankings, as if it's a basketball poll and schools ahead of us are losing rankings. That's stupid. Look at the schools ahead of us and tell me which ones you're embarrassed to be associated with and which ones we should be jumping. There's no difference in prestige of being #28 or #18. They're all good schools.
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Just to play along, I think Wake should be ranked above Washington University-St. Louis, UCLA, USC, and Carnegie Mellon. Additionally, I think UNC and UVA get by on history more than quality.

A lot of kids from families I know in Florida have recently been accepted to UVA in particular. They just aren't that remarkable. Good AP or IB grades/scores and good SATs but not athletes, campus/community leaders, or anything similar. Not legacies. Just your average kinda smart kids with good work ethics. I was really surprised.
 
Most in-state kids who go to Wake these days probably did not get into UNC. With the quota/class rank system its very freaking difficult to get into UNC if you go to a competitive HS in a larger county. And with it costing 25-35% as much, that's an easy decision.

I hate the Holes, but my two month old can 100% go to UNC if he gets in in 17 years. But I'm also fine sending him to any other decent in-state school. Private undergraduate tuition is a colossal waste of money. Save your loans for the second degree you'll need.
 
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Buttermaker said:
I’m no Hatch fan, but what has Wake done differently than other schools? All schools overbuilt and tried to justify tuition increases that far outpaced wage or inflation increases. But tough to justify $75k annually for Wake when higher ranked schools are somewhat less.
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Playing along some more; I always thought the "noble" and "pioneering" gesture of dropping the standardized test requirement was just to recruit rich white kids whose parents would not only pay outrageous tuition but also gift to the school. It worked for a while; what's the Mag Quad called now? Anyway tuition has still rocketed up. I've had two 30 minute meetings with Hatch....that's not a great sample size, but I found him to be very pompous. His personality is the opposite of Hearn's. Hearn who was a wonderful guy who understood the school he was running and did his best to preserve its character. If you were a Hearn fan (and I know about that bad endowment investment, but that was really the fault of the financial advisors) it's hard to be a Hatch fan.
 
BillBrasky said:
Most in-state kids who go to Wake these days probably did not get into UNC. With the quota/class rank system its very freaking difficult to get into UNC if you go to a competitive school in a larger county. And with it costing 25-35% as much, that's an easy decision.

I hate the Holes, but my two month old can 100% go to UNC if he gets in in 17 years. But I'm also fine sending him to any other decent in-state school. Private undergraduate tuition is a colossal waste of money. Save your loans for the second degree you'll need.
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I agree with the part about grad school. Surprised to hear of UNC's selectivity and Wake being a UNC safety school. It was the opposite back in the day. But that was back in the day.
 
Paul Hogan said:
Is Duke worth it ?
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Only if you go to medical school. Duke grads don't do any better in most other professions (I can speak to law directly) than folks from other places. They are nerdy and pompous though. All of them.
 
If you’re going to med school, why not go to the cheapest undergrad you can? Same for law school.
 
Buttermaker said:
I’m no Hatch fan, but what has Wake done differently than other schools? All schools overbuilt and tried to justify tuition increases that far outpaced wage or inflation increases. But tough to justify $75k annually for Wake when higher ranked schools are somewhat less.
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Nothing, people just love to bitch about Hatch and how he’s destroying the school. Wake is exactly the same as other private universities (for better or worse).
 
Wake Forest is a very expensive school, but the talk on this thread about the sticker price and $400K of loans is just wildly, wildly hyperbolic. Here are some actual facts for those who are interested: https://www.collegecalc.org/colleges/north-carolina/wake-forest-university/

Not making the argument that it's affordable or even a wise investment for many families, but when you look at the real numbers it's a much closer call.

Sticker prices, real prices, loans, endowments, etc. at US colleges are yet another puzzling piece of "American exceptionalism" that does us no favors but puts a lot of money into the pockets of finance types.
 
wakelaw13 said:
If you’re going to med school, why not go to the cheapest undergrad you can? Same for law school.
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Well, I meant Duke Medical School. I typically can't stand Duke but I have to admit if I see a Duke medical degree on the wall in the Doc's office I feel better. They are one of the best in the world, no doubt.
 
Brangus said:
Only if you go to medical school. Duke grads don't do any better in most other professions (I can speak to law directly) than folks from other places. They are nerdy and pompous though. All of them.
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As has been mentioned before, dook law pumped out DR and 2&2(RIP). Make of that what you will.
 
Rafi said:
It blows my mind that people on this board don’t understand how college tuition works. Only the very rich pay full tuition. The average indebtedness at Wake after 4 years is $35,000. At UNC it is $22,000, the state average is $26,000, and the most is Chowan at $38,000
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I just ran a scenario in WF's net price calculator for a family of three. Two adults earning a combined $240,000 putting $20k per year into retirement, with a $500,000 house (still owing $300k), $500,000 in savings. Student is a junior in high school with no job and $1,500 in the bank.

Is that family "very rich"?

WF's net price calculator results: net price $77,278. Family can afford $105,483 in total college expenses.
 
^edit function not working, but in case it's not obvious, that family contribution of $105,483 is annual. From gross income of $240,000.
 
Wake Law nose dive down to 42, bummer. Maybe I can get a discount on the rest of my loans.
 
thatguy2016 said:
I just ran a scenario in WF's net price calculator for a family of three. Two adults earning a combined $240,000 putting $20k per year into retirement, with a $500,000 house (still owing $300k), $500,000 in savings. Student is a junior in high school with no job and $1,500 in the bank.

Is that family "very rich"?

WF's net price calculator results: net price $77,278. Family can afford $105,483 in total college expenses.
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I suppose it makes sense if the grandparents are paying.
 
AMCDeac said:
I suppose it makes sense if the grandparents are paying.
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I am going through the stages of grief....denial...anger made its appearance on this thread....and now acceptance. My daughter, who has worked her ass off and has a great academic, athletic and service resume, will not go to Wake. I need to accept it, not give the university or the athletic department any more money, and just become a fan of wherever my kids and my money go. See you guys later. I might post if basketball comes back but I need a break from all things Wake.
 
PhDeac said:
Any idea why?
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One factor must be that UNC and other state schools have in state tuition. With what’s happened to the legal market, choosing the lower priced option over the slightly higher ranked school is a no brainer.

I don’t have the statistics in front of me, but we learned at a CLE a year or two ago that the median lawyer in NC makes less than $100k. It’s a field where there are tons of government jobs (I started in one), but still. The good news is that Grad Plus loans aren’t real money. They go away after 20 years of payments, or 10 if you do public service.
 
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