College Scholarships ? Debt Dumping? 5 year plan, oh my!

We are paying $30,000+ after the $18,000 yearly scholarship. Room and board is $13,000, so even paying $700 a month for rent year round, I think it will still be cheaper (she barely uses her dining plan and spends about $100 a month on groceries for her dorm room. She’s in a forced triple and it’s the hang out room, I think having her own bedroom will be beneficial (plus she is super type A especially with grades (as are all of her friends, all in the honors program). She can walk/bike to campus (and now her laundry will be free).
If I had a daughter I probably wouldn't pay for the meal plan. I buy it for my son because he eats pretty much and it saves us having to monitor every debit card swipe to make sure hes not been hacked. (My friend's son had his debit card hacked so that's why its on my radar.) Of course this varies kid to kid. His plan is $950 a semester and is 80 swipes, plus $300 in flex dollars for the food court and such. He still buys bagels and water for his room but those expenditures are minimal. His room in a new building with one room mate and bathroom shared between 4 people is I think $3600 per semester. He does not have a group of people he feels comfortable renting with either, so that's another factor. Otherwise he probably would be renting. Laundry is free in his dorm.
 
If I had a daughter I probably wouldn't pay for the meal plan. I buy it for my son because he eats pretty much and it saves us having to monitor every debit card swipe to make sure hes not been hacked. (My friend's son had his debit card hacked so that's why its on my radar.) Of course this varies kid to kid. His plan is $950 a semester and is 80 swipes, plus $300 in flex dollars for the food court and such. He still buys bagels and water for his room but those expenditures are minimal. His room in a new building with one room mate and bathroom shared between 4 people is I think $3600 per semester. He does not have a group of people he feels comfortable renting with either, so that's another factor. Otherwise he probably would be renting. Laundry is free in his dorm.
The cheapest meal plan is $2600 a semester, and mandatory if you live in campus, 14 meals a week and 200 points.
 
Sites like Niche will have bunches of national scholarships for current college students but I figure anyone's chances are extremely low. If you can google some that are more targeted that helps. My DD21 applied for one on Sallie Mae's scholarship search that was national, but for her major and they give out a couple hundred, not just one. She did win one and it was renewable.

It's been mentioned upthread but I agree on checking out the college's foundation/departmental scholarships- usually a common app. DD21 got one 4 out of 5 semesters at CC. DD18 has applied (deadline was 2/1) but I have no idea if she'll get one at her school. I do believe a lot of students don't bother though.

Are you getting for the American Opportunity Tax Credit? You can get up to $2500 credit on your tax return.

I feel for you, $16,000 is not crazy high compared to what many people are spending but it still hurts doesn't it!
 
Oh, also I have two small side gigs that all the income goes toward college costs. DD helps with one when she's home. Do you have time to add a bit of a part-time job?
 


I have a DD headed to a university in August, after staying home and getting her AA for nearly free through high school and the free tuition year. We only paid for books and parking and the ridiculous health care fee, though we have our own. (don't get me started...)

Reading through this thread, and other college threads, reminds me that we all have: 1. our own situations and 2. our own opinions. Making a comment that if you don't qualify for government backed loans now, you should've been saving before isn't fair. I know my situation has vastly changed over the years. DD has a 3.85 GPA and still couldn't qualify for the top scholarships. Yes, she tried local and even subscribed to Scholarly to try for others, but she still is only able to secure $5-$7k in scholarships because of what I earn now. That will leave her with $40k for her degree since it is a specialized degree that is not offered in every college and she will be attending out of state (closest one to us, guys).

What it all boils down to is that the cost of college has far outpaced the COLA. DD knows that we will help with the loans after she graduates and made the effort in her education. I watched two friends get loans and HELOC's and their kids just...do nothing with the degrees. Do I want her to have debt? No. But she will. And we will help as much as we can without going into debt ourselves. At least her degree will land her a job, since she already has a couple of places asking about it.
 
I'm going to say something unpopular here...I have managed to pay for most of 2 DD's college costs out of pocket (plus a significant portion for my Niece). DD1 graduated with minimal loans (already paid off) and DD2 will graduate this year with only $5k in loans. Due to unforeseen family circumstances, I could not handle the last year's tuition for DD (I had thought I had enough saved, but life happens) so this year I took out a home equity loan to pay for her last year. Assuming DD2 gets a job and is self supporting fairly quickly after graduation, I plan to pay down the loan as quickly as possible while not touching retirement savings. Sometimes a loan is your best option.
 
She's commuting and in state correct? Because in state as opposed to out of state can save a ton of money. Can she get work study through the college. I have a friend that paid for all of college in cash while attending and it worked well for him. His parents didn't help him at all. He buckled down and save every single penny he earned in a high yield account. Worked at Red Robin, had a job on campus, picked up a few side gigs here and there. Got straight As all the while as well. Is there an alumni scholarship a graduated friend can sponsor her for? We all did that when our friends graduated. All they had to do was sign a piece of paper and $1,000 came off the tuition bill.
 


Okay, so it's $1600/month (since you only have a 10 month window). That is a lot to pull out of a budget without a little loan float (or a savings spot to pull from) or a large tax refund.

So, there's about $48-$50K left to get her through the last 3 years.

I understand not wanting to take out loans, although I do second the poster who mentioned considering having your daughter take out the kid specific ones that don't require a co-sign from you. There's nothing wrong with letting her have them, and then paying them off as her graduation present (but since they are in "her" name, you're never technically on the hook). If it gives you the float in your budget you need...and you don't have kids coming after who would make the budget even worse with their expenses, it's worth thinking about.

And I'd also 2nd the poster who mentioned looking into RA positions...I know you said she's in an apartment next year, and it's cheaper...but in year 3/4, if she gets an RA post, many places will give room (and possibly board) free...and that would be a huge savings.

And I'd finally 2nd the poster who mentioned looking for college work positions, both in and out of school. One thing that could pay well, but not take a ton of time, is tutoring/teaching homeschooled high schoolers, particularly in high level Maths or Sciences (if your child is gifted in those areas). Another area to consider (while possibly not as fun) would be in-home child care, b/c college students with a license are always in huge demand and can command $20-$25/hour in some places. So, again, she could create a college schedule that makes either of these options doable without putting a huge demand on her time.

Ill have to look into that loan- i thought we had exhausted all of those options, but the whole process was overwhelming and we may have missed it?

She did apply for an RA position this year and was not chose. PRAYING she gets it next year.

She does work when she is home. Has had a steady job and income since 8th grade. She also works for me to help "pay down" some of what we are .


It is also the case that colleges are broke. Most can't afford needs blind admission. The generation of alumni who gave generously is retired and dying off, and the generation that is in its peak earnings years doesn't go in for alumni donations like their predecessors. In the next 20 years a significant number of private colleges are expected to go under. https://www.usnews.com/news/educati...-signal-start-of-a-crisis-in-higher-education

interesting!

Does she live on campus? If so, she can be an RA at a dorm. It will give her free room and board and a single room. She can still have work study (if she qualifies) that she can use as income or towards her tuition. It is not a 24/7 job. They rotate the hours so she is not on call all the time. It is a commitment but it alleviates upwards of $10,000 per year.
She didnt get chosen as an RA :/

$16,000 a year including room and board? Even with a top scholarship DD’s bill is over $30,000 (OOS). She will save some money next year renting an apartment with 5 friends and not getting a meal plan (which is about $6000).
NOOO thats pretty much room/board and dining plan (which they have to have first year if staying on campus)

That’s probably after taking off scholarship money. I/we pay about $11000 a year after scholarships. That includes housing and a meal plan. We priced an apartmt but when you factor in paying year round, paying for internet and laundry, and having to drive to campus in all kinds of weather, it wasn’t really any cheaper.

Obviously prices vary greatly by state.
Luckily all of the laundry/internet etc is included in apartment next year. Shes also in a city, so no worries about transport.

Sites like Niche will have bunches of national scholarships for current college students but I figure anyone's chances are extremely low. If you can google some that are more targeted that helps. My DD21 applied for one on Sallie Mae's scholarship search that was national, but for her major and they give out a couple hundred, not just one. She did win one and it was renewable.

It's been mentioned upthread but I agree on checking out the college's foundation/departmental scholarships- usually a common app. DD21 got one 4 out of 5 semesters at CC. DD18 has applied (deadline was 2/1) but I have no idea if she'll get one at her school. I do believe a lot of students don't bother though.

Are you getting for the American Opportunity Tax Credit? You can get up to $2500 credit on your tax return.

I feel for you, $16,000 is not crazy high compared to what many people are spending but it still hurts doesn't it!

Didnt do taxes yet- but willl look into that, thank you!

Oh, also I have two small side gigs that all the income goes toward college costs. DD helps with one when she's home. Do you have time to add a bit of a part-time job?
No, I really dont. I already run my own business and have a side hustle as a TA (doesnt pay much, but hotel discounts are a nice perk.)

I have a DD headed to a university in August, after staying home and getting her AA for nearly free through high school and the free tuition year. We only paid for books and parking and the ridiculous health care fee, though we have our own. (don't get me started...)

Reading through this thread, and other college threads, reminds me that we all have: 1. our own situations and 2. our own opinions. Making a comment that if you don't qualify for government backed loans now, you should've been saving before isn't fair. I know my situation has vastly changed over the years. DD has a 3.85 GPA and still couldn't qualify for the top scholarships. Yes, she tried local and even subscribed to Scholarly to try for others, but she still is only able to secure $5-$7k in scholarships because of what I earn now. That will leave her with $40k for her degree since it is a specialized degree that is not offered in every college and she will be attending out of state (closest one to us, guys).

What it all boils down to is that the cost of college has far outpaced the COLA. DD knows that we will help with the loans after she graduates and made the effort in her education. I watched two friends get loans and HELOC's and their kids just...do nothing with the degrees. Do I want her to have debt? No. But she will. And we will help as much as we can without going into debt ourselves. At least her degree will land her a job, since she already has a couple of places asking about it.

I had my dd when I was 19- my situation was very dismal for a very long time. Now its great , but unfortunately I didnt plan ahead. Why babies shouldnt have babies lol?

She's commuting and in state correct? Because in state as opposed to out of state can save a ton of money. Can she get work study through the college. I have a friend that paid for all of college in cash while attending and it worked well for him. His parents didn't help him at all. He buckled down and save every single penny he earned in a high yield account. Worked at Red Robin, had a job on campus, picked up a few side gigs here and there. Got straight As all the while as well. Is there an alumni scholarship a graduated friend can sponsor her for? We all did that when our friends graduated. All they had to do was sign a piece of paper and $1,000 came off the tuition bill.
Not commuting. Staying on campus this year- will be in own apt next. I will look into the alumni bit too though! Thanks for your input.
 
helping our DD19 pay her college expenses, but it is killing us ... I know she should have gone to CC ...
I totally understand the idea of wanting to give your child the college experience he or she wants, but when the cost is "killing you" and a less-expensive option exists, it's crazy not to take it.
I always thought scholarships were locked into place before you started at a College, not after.
Completely false! Every scholarship is different /rules are set by the benefactors. Some scholarships are good for 4 years -- as long as you keep up your grades. Some are only for freshman year, while others are good for two years. Some aren't available until the student reaches junior year. You have to read the fine print for each and every one.
They also made it clear that you likely will be expected to contribute about 25% of your gross income towards your child's college costs ...
Not to be argumentative, but the people who administer college costs know you've had this kid for 18 years, and they assume you've been saving for 18 years. If you're cash-flowing it from your current income, yeah, it's going to be difficult.
This just seems like poor planning. When attending CC with the anticipation to switch to a traditional 4 year university then they should have carefully reviewed what and how the credits transfer. This isn't rocket science. I have also seen some students take a core class at a community college over the summer, especially if it is an area they aren't strong at, like a math class that may prove more challenging at the traditional 4 year.
My youngest opted to start at community college (more because she wasn't ready to leave home), and while she had a great experience, she didn't get a bit of guidance from the community college about what classes to take or how they'd transfer to a 4-year school.
I helped her plan, so she chose classes efficiently, but most of her friends just kinda signed up for classes and hoped it'd all work out -- few finished in two years, and most ended up with some classes that counted only as electives at the university level.
Her poor roommate came from a different community college, and she clearly had no guidance. She was at the community college for four years, and she will be at the university for three years -- but she's very much NOT a planner. She signs up for classes that sound interesting /teachers she likes -- and she doesn't reference the course of study that leads to graduation on a regular basis. She doesn't have much parental support, so I try to help her, but she's satisfied with what she's doing. Not my biz.
I'm absolutely a fan of the community college, but they really need to step up their guidance game.
Yes to one thing you said: I sometimes advise my high school seniors to take their most-dreaded class at the community college; they never "get" why it's a good idea. The credit transfers to the university, but your grade does not. So say you're a good student, but Chemistry is your nemesis. Take Chemistry at the community college -- your 3-4 credit hours transfer, but it doesn't affect your GPA. A C is as good as an A+. Especially good advice if you're trying to maintain a certain GPA to keep a scholarship.
Next year she will be in an apartment to herself which is significantly cheaper.
I know people say that, but for both of my children an apartment turned out to be WAY more expensive: paying rent year-round, renting a truck to haul cast-off family furniture up to the school. I calculated that her apartment (not a fancy place at all) is costing us more than 40% more than the dorm.
Of course, she has more space.
And her food expenses are lower.
Know what though? She misses the dorm. She misses living in the middle of the action /misses all the on-campus events, and misses being able to walk everyone on campus in minutes. Doesn't matter though: she didn't make lottery, so it was not a choice.
Her roommate is really screwed: She has to stay an extra semester, so she's going to have to sign a one-year lease ... but she'll graduate in December. When my older daughter graduated and wanted to sub-let her apartment /avoid continuing to pay the lease, we ended up negotiating to pay only 50% of the rent -- it's a tough thing to sub-let in a college town.
So, there's about $48-$50K left to get her through the last 3 years ...

I understand not wanting to take out loans, although I do second the poster who mentioned considering having your daughter take out the kid specific ones that don't require a co-sign from you ...
Be SURE she's going to finish in three more years. So many students don't -- good planning makes all the difference in the world.
Does she live on campus? If so, she can be an RA at a dorm.
I did this, and it was a lifesaver for this poor kid.
"Back in the day", being an RA gave me a free (private) dorm room, 50% of my in-state tuition paid, 50% of my meal plan paid, and a paid phone in my room (pre-cell phones).
Last year I saw a sign about RA jobs in my daughter's dorm lobby, and it seems to me that (although her university pays cash, not free stuff like my RA job), it is about the same total amount today.
 
Last edited:
Not to be argumentative, but the people who administer college costs know you've had this kid for 18 years, and they assume you've been saving for 18 years. If you're cash-flowing it from your current income, yeah, it's going to be difficult.
Well, I get flamed because I have posted before that people should think about the financial impact before they start a family, including college. As I have posted before, I just grew up in a household where money was tight and saving money was a priority. It's just how I was raised and it is a trait I have carried into adulthood.
As for current income for college, our youngest started college 26 years after we bought our house. We had a 15 year mortgage on a modest track home ($101,000), so her entire Public University cost was easily covered by the money that we HAD been paying for the house payment. So NO, if you plan, doesn't have to be difficult. Her brother is 4 years older, and that money went to his College too, but as he went to Private University, we had to use College savings and Parent and student loans.
 
Well, I get flamed because I have posted before that people should think about the financial impact before they start a family, including college.


Not to be argumentative


continuing on in the same spirit........

the concept of 'middle class' americans paying for their kid's college educations is not a national multi decades old practice. i graduated in '79 in an area with (for then) very well to do/wealthy families (generational as well as 'new money'), and even among my well to do peers it was the exception vs. the norm on the west coast (northern california) for parents to fund their kids entire educations.

i was the late bloomer among my peers-not married by my 10th reunion, no kids by my 15th, but i heard them all talking, and at all, the 20th and beyond, the accepted norm decision making process for people my age as well as my dh/peers (8 years younger) NEVER included for offspring college attendance as a perceived, prerequisite, planed for necessary standard of care. we wanted our children to be housed, fed, clothed and reasonably educated (housing choices based on schooling options).

the concept of taking into consideration, delaying conception and funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.
 
continuing on in the same spirit........

the concept of 'middle class' americans paying for their kid's college educations is not a national multi decades old practice. i graduated in '79 in an area with (for then) very well to do/wealthy families (generational as well as 'new money'), and even among my well to do peers it was the exception vs. the norm on the west coast (northern california) for parents to fund their kids entire educations.

i was the late bloomer among my peers-not married by my 10th reunion, no kids by my 15th, but i heard them all talking, and at all, the 20th and beyond, the accepted norm decision making process for people my age as well as my dh/peers (8 years younger) NEVER included for offspring college attendance as a perceived, prerequisite, planed for necessary standard of care. we wanted our children to be housed, fed, clothed and reasonably educated (housing choices based on schooling options).

the concept of taking into consideration, delaying conception and funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.
Different experience for me here in Sacramento. Graduated from high school in 75. Parents paid for college for all my peer group. Middle and working class area. Not until I hit college did I encounter students who were paying their own way including a guy who parents had him declare himself financially independent to take advantage of free money. His dad was an exec with a major public corporation with a $1 million salary (IN 1975!!) and clearly could afford to pay $2,500 a year for college. On the flip side, my Freshman orientation roommate's parents both took on part time second jobs and hold stuff to put him through college.
Going back to my mom, in the 1930's, my grandfather paid for private boarding high school 100 miles from home for her, her 2 sisters and her brother (public school ended at 8th grade in the farm area she lived in), AND college. In the case of my mom and her sisters, my Grandfather felt it was a waste of money for girls to go to high school or college, but my Grandmother insisted he do it. As a small wheat farmer, that had to be a huge financial challenge.
 
What it all boils down to is that the cost of college has far outpaced the COLA. DD knows that we will help with the loans after she graduates and made the effort in her education. I watched two friends get loans and HELOC's and their kids just...do nothing with the degrees. Do I want her to have debt? No. But she will. And we will help as much as we can without going into debt ourselves. At least her degree will land her a job, since she already has a couple of places asking about it.

Thank you for saying this. I have a high school junior, and we have been planning for two years of CC for a long time, followed by 2 years at a university. Every situation is different, and I have been trying to figure out how to help her with the university years without handing an education (my parents were not able to help me, and I worked myself crazy to go to college - it paid off, but I don't think she needs to struggle as much as I did with life surrounding college to appreciate her education). Not sure how I never thought I could just help her pay the loans afterwards, lol. My DD is not ready to leave home, and has not so far had a job to start saving, although she may try to get one this summer. I am a single mom and will have no help from her father. College has been overwhelming me for years, but somehow I never thought of helping her repay the loans she will undoubtedly need when she goes to a university. I would like to say I have saved a nice chunk of change, but that isn't the case. I have figured that I can cover the cost of CC to get her started.

Striking a balance between helping and having her pay for it herself has been a tough internal battle for me. My family has always struggled financially, and college was very difficult for me because of bad decisions that are completely on me, but it would have been hard regardless. I worked all the time in HS and in college and still had loans to repay over 15 years. I use my degree and it was all worth it in the end, but I do want a little easier for my DD. Not waste the money and then don't bother to get as job easy though!
 
continuing on in the same spirit........

the concept of 'middle class' americans paying for their kid's college educations is not a national multi decades old practice. i graduated in '79 in an area with (for then) very well to do/wealthy families (generational as well as 'new money'), and even among my well to do peers it was the exception vs. the norm on the west coast (northern california) for parents to fund their kids entire educations.

i was the late bloomer among my peers-not married by my 10th reunion, no kids by my 15th, but i heard them all talking, and at all, the 20th and beyond, the accepted norm decision making process for people my age as well as my dh/peers (8 years younger) NEVER included for offspring college attendance as a perceived, prerequisite, planed for necessary standard of care. we wanted our children to be housed, fed, clothed and reasonably educated (housing choices based on schooling options).

the concept of taking into consideration, delaying conception and funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.

Though it was for my family - I graduated college in 1988 and had a very middle class upbringing. I don't know anyone who thought their college would be paid for by anyone other than their parents - sure they might get some small scholarships, but the bulk was coming from Mom and Dad. I also don't remember a belief you could "pay your own way through" even back then - not by realists. Again, you probably worked part time and got some work study - and probably took out a few loans, but Mom and Dad paid the bulk. And my parents put three of us through school - no loans - and I'm the oldest - tuition didn't get cheaper for the baby in the family. (California was weird, IIRC in state tuition was free until 1970 - which lead to a bunch of Californians not planning at all since their kids would go to a state school . That would put you in a time and place where saving for college wasn't normalized)

I know that when my college age kids were born, affording college was very much front and center of the personal financial press - even the general press. Kiplingers and Money magazine had it on their cover at least once a year. Saving through 529s and prepaid tuition plans has been around since before my kids were born. The bank puts "saving for college" posters up in the lobby. It isn't a matter of not knowing.

A lot of people DO delay conception until they think they can afford children, and start saving for college the day they are conceived. And for people who have annual expensive vacations in their signature to have not saved is not a matter of unrealistic standards - its a matter of priorities. (In my neck of the woods, its the parents who would pull up in brand new cars to drop their kids off, and have the kids in expensive traveling sports like hockey or gymnastics. And SAHMs who didn't take as much as a part time job when their kids got to be schoolage). You'll probably still not manage to save everything - especially if you let your kids decide to go to a SPLC (Small Private Liberal Arts College) and one that was a stretch (tends towards full pay), but its less likely to break you. It isn't an all or nothing thing.
 
continuing on in the same spirit........

the concept of 'middle class' americans paying for their kid's college educations is not a national multi decades old practice. i graduated in '79 in an area with (for then) very well to do/wealthy families (generational as well as 'new money'), and even among my well to do peers it was the exception vs. the norm on the west coast (northern california) for parents to fund their kids entire educations.

i was the late bloomer among my peers-not married by my 10th reunion, no kids by my 15th, but i heard them all talking, and at all, the 20th and beyond, the accepted norm decision making process for people my age as well as my dh/peers (8 years younger) NEVER included for offspring college attendance as a perceived, prerequisite, planed for necessary standard of care. we wanted our children to be housed, fed, clothed and reasonably educated (housing choices based on schooling options).

the concept of taking into consideration, delaying conception and funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.

My experience in the 1980s. I did not grow up in an affluent area and my parents were lower middle class, but only thanks to two incomes and a very frugal lifestyle. However, I went to a magnet school, where some of my peers were filthy rich and some were dirt poor but all were smart and for the most part ambitious. We pretty much all went to college. My parents could not fund the pricey college I chose to transfer to (even with massive grant financial aid) and I took out the subsidized loans offered. Whatever was left of my tuition (and it was hefty) was funded by my parents, whose every spare penny went to my school for 3 years. I worked, but only to the extent my college suggested as a research assistant. After one year in the dorms, I moved out and was able to fund my share of the rent, food and books with my job while my parents and my loans paid tuition. It was never a "parents only" or "student only" situation. We all contributed what we could.

With my children, I had more of an opportunity to save in advance and I paid the lion's share because I could. Also, I remember when I went to school, the cost of attendance was a staggering $14,000 and my parents' gross pay was around $55,000. My youngest's current cost of attendance is almost $70K (heavily discounted due to scholarships and financial aid grants). There is no way she could pay a significant portion of that with earnings, any more than I could in the 80s.
 
Not to be argumentative, but the people who administer college costs know you've had this kid for 18 years, and they assume you've been saving for 18 years. If you're cash-flowing it from your current income, yeah, it's going to be difficult.
From the point of view of the school and government - the people handing out the majority of needs based aid - its a case of "lack of planning on your part does not constitute an emergency on our part." Neither the government (federal or state) or the schools have endless pools of money available.
 
continuing on in the same spirit........

the concept of 'middle class' americans paying for their kid's college educations is not a national multi decades old practice. i graduated in '79 in an area with (for then) very well to do/wealthy families (generational as well as 'new money'), and even among my well to do peers it was the exception vs. the norm on the west coast (northern california) for parents to fund their kids entire educations.

i was the late bloomer among my peers-not married by my 10th reunion, no kids by my 15th, but i heard them all talking, and at all, the 20th and beyond, the accepted norm decision making process for people my age as well as my dh/peers (8 years younger) NEVER included for offspring college attendance as a perceived, prerequisite, planed for necessary standard of care. we wanted our children to be housed, fed, clothed and reasonably educated (housing choices based on schooling options).

the concept of taking into consideration, delaying conception and funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.
DH and I graduated from the same HS in 1985, we got married right before out 10 year reunion (I was so wedding thin and still tan from our honeymoon), the majority of our classmates were not married. So many today on Facebook still have kids in elementary school.
 
funding the cost of tens upon tens if not hundreds of thousands of dollars in post k-12 education access, experiential/living expenses for a half decade or beyond one's child reaching adulthood is (imho) an unrealistic idealized standard.
Eh, not so unrealistic. I recently paid my final college bill and my youngest will graduate in May.

Our total cost to put two kids through college -- tuition, housing, meal plan -- has been just over 57K. Would've been more like 55K if our youngest hadn't "lost lottery" for her senior year. One started at community college, and they both attend/attended a university that includes books in the tuition. Both worked their butts off to find /apply for scholarships. One did two years at community college because she wasn't ready to head out to university at 18. Both understood that we would only pay for four years, and their responsibility was to work hard /graduate. That 57K includes everything except the cars we provided for them. If you're getting into hundreds of thousands, you've made some expensive choices along the way; I'm not saying bad choices, just expensive choices.

I don't think 57K (actually a little less) is a bad price to pay to prepare two kids for professional jobs, which will support them and their future families for the rest of their lives. Admittedly, we do live in a low cost of living area, which kinda balances out because it's also the land of low wages.
 
Eh, not so unrealistic. I recently paid my final college bill and my youngest will graduate in May.

Our total cost to put two kids through college -- tuition, housing, meal plan -- has been just over 57K. Would've been more like 55K if our youngest hadn't "lost lottery" for her senior year. One started at community college, and they both attend/attended a university that includes books in the tuition. Both worked their butts off to find /apply for scholarships. One did two years at community college because she wasn't ready to head out to university at 18. Both understood that we would only pay for four years, and their responsibility was to work hard /graduate. That 57K includes everything except the cars we provided for them. If you're getting into hundreds of thousands, you've made some expensive choices along the way; I'm not saying bad choices, just expensive choices.

I don't think 57K (actually a little less) is a bad price to pay to prepare two kids for professional jobs, which will support them and their future families for the rest of their lives. Admittedly, we do live in a low cost of living area, which kinda balances out because it's also the land of low wages.
In state tuition at dd23’s university was $29,000 a year with room and board at year, ds21’s in state tuition $34,000 a year. There really aren’t many inexpensive choices here. Fortunately both got great job offers before graduating. Both lived off campus junior and senior year and worked as well as attending school. Dd graduated a semester early by taking 18 credits every semester.
 
I think college is doable if you plan for it and start saving early. EDIT: and are lucky enough to have affordable choices!

We weren't able to save until after daycare and by then my oldest was 10 so we only had 8 years to save for her. We aren't a high income family and I only work part time. Our oldest graduated May 19. I just checked my spreadsheet, her tuition was around 11,500 a year. She lived at home and commuted. We had saved 15k total for her in a 529. But we qualified for the American Opportunity Tax Credit. That credit gave us back $2500/year, and every year when I got it in a CD it went to pay back her loans. In Dec she paid her loans in full, she had a little over 13k. I gave her the 10k from the AOTC and she was able to save the rest from working her job and they were paid before any interest accrued.

We have 2 others and are on track to do the same thing. Our middle DD graduates this May and only has 10k in loans. She went away to school (instate) but got a lot more grants and scholarships to help her.

I always told them, I'll pay a year(529$), you pay a year, you get scholarships that equal a year and do a year of loans. My goal for them was to have no more than 15k in loans. Our plan worked out but the key is having a plan to begin with :thumbsup2 .

One of my favorite quotes
Benjamin Franklin
“If you fail to plan, you are planning to fail!”

― Benjamin Franklin
 

GET A DISNEY VACATION QUOTE

Dreams Unlimited Travel is committed to providing you with the very best vacation planning experience possible. Our Vacation Planners are experts and will share their honest advice to help you have a magical vacation.

Let us help you with your next Disney Vacation!










Top