College costs at $1m/kid?

[Anonymous]

A thread on a different topic contained this comment as a throwaway, so I thought I would start a different thread. Is this reality? I thought the ost expensive colleges were around $80k/year. Are we really up at $200k for full pay students? And if so, could someone break that cost down or point me to online info?

Perhaps I misunderstood. TIA.

[Anonymous]

No one is paying $200K per a year for college students at any private institution. Harvard full pay is $75K~ a year.

[Anonymous]

Anonymous wrote:A thread on a different topic contained this comment as a throwaway, so I thought I would start a different thread. Is this reality? I thought the ost expensive colleges were around $80k/year. Are we really up at $200k for full pay students? And if so, could someone break that cost down or point me to online info?

Perhaps I misunderstood. TIA.

You misunderstood

[Anonymous]

What about total cost?

Tuition + room&board + travel to&from home + incidental fees and expenses? Obviously it will vary by family, but I'm assuming this can easily push total cost to 100K per kid per year, no?

[Anonymous]

Full pay includes tuition plus room and board, around 70K for top schools.

[Anonymous]

I could be wrong but I think a different post mentioned paying $1M total for 3 kids, which could be true all in (especially in a few years).

[Anonymous]

Anonymous wrote:I could be wrong but I think a different post mentioned paying $1M total for 3 kids, which could be true all in (especially in a few years).

That was the mention - thank you - there was a typo where I didn’t pick up on the 3 kid part. thank you.

[Anonymous]

Anonymous wrote:What about total cost?

Tuition + room&board + travel to&from home + incidental fees and expenses? Obviously it will vary by family, but I'm assuming this can easily push total cost to 100K per kid per year, no?

Also, if you don't have savings you are paying in after tax dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What about total cost?

Tuition + room&board + travel to&from home + incidental fees and expenses? Obviously it will vary by family, but I'm assuming this can easily push total cost to 100K per kid per year, no?

Also, if you don't have savings you are paying in after tax dollars.

If you don't have savings AND you are paying $100K / year / kid and can afford it, you did some piss-poor planning over the years.

If you don't have savings AND you are paying $100K / year / kid and can't afford it, I'm not sure why you are going into so much debt.

[Anonymous]

Harvard and others could be $120,000/ year by the time my 9th grader would be finished (Wesleyan is more than Harvard). Harvard Law and Med is already $100,000 plus a year. So total for one kid could be $1 million.

[Anonymous]

Anonymous wrote:What about total cost?

Tuition + room&board + travel to&from home + incidental fees and expenses? Obviously it will vary by family, but I'm assuming this can easily push total cost to 100K per kid per year, no?

No, that would not be a reasonable extension of the estimated cost of attendance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I could be wrong but I think a different post mentioned paying $1M total for 3 kids, which could be true all in (especially in a few years).

That was the mention - thank you - there was a typo where I didn’t pick up on the 3 kid part. thank you.

[Anonymous]

Anonymous wrote:Harvard and others could be $120,000/ year by the time my 9th grader would be finished (Wesleyan is more than Harvard). Harvard Law and Med is already $100,000 plus a year. So total for one kid could be $1 million.

This. It's important to remember that costs increase faster than salaries or inflation. The price for my junior won't be the same as the price for my 6th grader.

[Anonymous]

Sure, but $100k is not close to $200k. Of course college is expensive. But no where in the ballpark do $200k/year yet.

[Anonymous]

I wonder at what price per year people will turn their backs on Ivies. Maybe there are enough 1 percenters. For people who make 200-400k in this area- 100k per year is a lot!