View Full Version : When did this happen? college tuition EEEK
02-01-2007, 02:25 AM
I discovered last night that tuition to the college dh went to is up to 50K a year!!! That's more than Eton(sp) college in england. Holy monkeys. Granted he got a good education but i just about jumped out of my seat. Then i started looking at the state colleges. 8K for residents but 20K for non-residents. YIKES. Told dh he could forget about dc going to sarah lawrence,he agreed. Am I the only one that thinks this is incredibly high for college? I'm afraid of what things will be like in 14 years. Soooo afraid. EEk. Where do you hope that your dc will go to college at?
02-01-2007, 04:34 AM
yes, this worries me, too. DH's parents paid for his tuition, so he feels compelled to do the same for our DDs, while I think we should do our best at saving for college but have them pitch in and work, too when the time comes. It scares the bejesus out of me when I think of how expensive college is going to be in 16 years! I just don't understand why we don't have free colleges, or free prescool/daycares for that matter.
02-01-2007, 07:48 AM
my dh went to state college and his motto is "state college, if it was good enough for me it's good enough for them"... We are doing our best to save so we can at least pay for state tuition, but I don't think we will be paying 100% if they decide to go to private. btw, I grew up about a mile from Sarah Lawrence and it was always one of the top 3 most expensive college in the country, I didn't realize it is up to 50K, WOW!!!
02-01-2007, 07:49 AM
You're kidding about that free college thing, right?
I agree with you, though, about having DC pitch in to pay for college. Plus, while I enjoyed the traditional 4-year college (never mind that it took me 8 years to FINISH!) I think the option of a community college, THEN finishing up at a 4-year institution is a great money-saving option. I'll certainly encourage that route with DS and DD-to-be. After all, I got my undergrad, and THEN went to a 2-year community college for my nursing degree.
Amy in NC
mom to Dixon, born 2/14/05
...and let the shopping begin!
A GIRL (!!) Due 3/30/07
02-01-2007, 07:56 AM
Just looked up my alma mater and it is $30K a year! We are aiming to pay for most of instate tuition at a state school, but beyond that will be financial aid, loans and/or scholarships.
02-01-2007, 08:19 AM
Mine would be $23K (including living on campus). I don't know how people pay for one child in college, much less more than one! We plan to help our kids out as much as possible but I am quite sure we will not be able to pay the whole thing. My parents paid nothing so I know the pain of BIG student loans and I just don't want to do that to my kids.
02-01-2007, 08:37 AM
My college was free and very good. Yeah to Soviet system! I just checked how much my MBA would cost these days and the estimated total cost is $65.8K per year of a two-year program, with tuition being $41,115 of that. YIKES. And I know it's a bit early to think about it but not having a masters degree of some sort is not option in our mind. Of course, DS would go to college. MIL is putting money into his 529 plan every year and we have a rental property that would hopefully appreciate enough to pay for his degree. We are making up the difference on what we are getting from renting it and mortgage plus taxes so I am telling myself it's enough to finance DS degree. I can't imagine what we'd have to do if it is not.
And if DS is smart enough to not need it, than it will finance our retirement. Oh, and hopefully, DH would fulfill his dream of becoming a professor in a good University and we'd get a break on DS' degree. Everything I've read on financial planning says to take care of your retirement needs first before socking money away for your child's college. He'd be able to take a loan for his education, you won't.
02-01-2007, 09:32 AM
Our children will be going to state schools. They can go via community college and finish up at a 4 year school. Luckily NC has great state schools. Spring tuition and fees at NC State is $2,391.50. The only school that DH refuses to pay for is UNC (school rival), but he said if our kids get full scholarships he'll proudly put on a Carolina blue t-shirt.
Mommy to Martie
& Li'l Girl Bunny to come Feb. 2007
02-01-2007, 09:56 AM
Yikes, that is crazy! I'm keeping my fingers crossed that Georgia's Hope scholarship will still be around when our DC are ready for college. [Free tuition and book allowance for any state school if you have a B average in high school and for as long as you maintain a B average in college.] I went to state schools and was happy with the experience and the result.
Mommy to Annabelle 9/08/03 & Finn 10/31/05
"If we couldn't laugh, we would all go insane." - Jimmy Buffett
02-01-2007, 10:16 AM
This is really tough. My parent paid my way through college and my husband and I are 100% committed to doing the same for our children. My degree is from a small nationally known liberal arts college and tuition must be topping 40K/year by now. On the other hand, I also went to a big state university for my med school prereqs and had a great time and thought I got a good education at a fraction of the cost. I don't know how much having that prestigious name on my resume helped me, overall. When I was applying to college we were all very much about getting into the "best" - I can still quote you the US News and World report rankings for my senior year. I have since come to believe it's probably not worth the money, though it is hard to give up that mindset entirely. I will encourage my children to explore all their options, including state schools.
02-01-2007, 05:29 PM
my alma mater is up to $43,700 ($33,700 being tuition), but, from their website and in my experience:
"high tuition doesn't necessarily mean high debt"
Sam 5/19/05 How lucky I am that you chose me.
02-01-2007, 07:03 PM
Yes, we have already begun a 529 for Dora. I can't imagine what we will do, but assuming tuition goes up faster than the rate of inflation or cost of living, perhaps we will actually qualify for grants or scholarships or that kind of thing. Maybe we will end up living in a state where the public universities are good. But I'm not pinning my hopes on any particular college at this moment. It would depend on a lot of things that aren't in my control.
>my dh went to state college and his motto is "state college,
>if it was good enough for me it's good enough for them"...
That is my motto, too. I went to one of the top 50 public universities in the country, so I feel I got a good education. It won't be as good of a deal as I got, but I don't know that I will be in the same financial position as my parents were when my kids are 18. Plus I could have 3 in college at the same time; they only had 1 at a time.
My DH thinks we should pay for wherever they want to go, but I honestly just don't see how anyone will be able to afford to go to college in 14+ years if rates continue to rise in the same rate. The financial aid game has changed considerably since I entered college 15 years ago, but I don't know if that's necessarily a good thing.
02-02-2007, 01:17 AM
DH and I are committed to paying all college costs for our children (and we have already started savings accounts for this purpose). Quite honestly it is our #1 priority. Wherever they get in--private or public--we'll pay for it, even if we have to eat peanut butter sandwiches every night. And I do not say this as someone who is wealthy (which I am not); it's just something about which I feel very strongly.
02-02-2007, 08:15 AM
We are diligently saving for DS college cost. But honestly we will decide what to do once we see the person he has grown into.
Both DH and I financed at least a portion of our college costs. In someways it may have held us back, but in others it made us better/more financially responsible people.
02-02-2007, 09:54 AM
I agree with PP about Community College for the first two years. I went to CC, got my associate's, then went on to a prettyy $$$ private university, which I transferred out of after a year and a half, because it was TERRIBLE (for many reasons). I learned so much more at the community collge, and felt much more a part of the "student body", if that makes sense. If I was allowed, I would have gotten my whole education there.
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