What did you pay last year (tuition+living) for DC college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our income is in that range (~$180k)and we can afford it (the FAFSA of $60-$70k). It isn't supposed to come out of your cash flow for the year. It is an expected expense since deciding to have children. Almost two decades should be enough time to save for it.

Oh and our income was half that when our children were born.

Our income was a little higher than 1/3 of $180K and we can afford the $60K per year today.

[Anonymous]

We are upper middle class - top 1% income actually, with 7 degrees between DH and me, including PhD and JD.

The fact that people are throwing around these numbers, $45k, $65K, etc./ PER YEAR just to go to school is insane to me. The fact that people will actually pay that and think it is okay is even more insane to me. The value proposition is totally out of whack for a bachelors degree. We are saving too, but plan to spend no where close to that amount (and, yes, I've looked at the projections). I hope to pay for my children to get an education, not an experience. We need a revolution in the university system in this country. One year of parents refusing to pay those stupid, over-inflated, and unnecessary prices and the rates will come way down. Ridiculous!

[Anonymous]

Anonymous wrote:Finished my Under Graduation school India for $1000.00(incl all expenses) 1987-1991 Here I am not looking at combined VA In State $100K for my DS Freshman student college expenses!!!

Where is he going? The VA public U's do not cost that per year for in-state. It's more like $30K (tuition and living). Or are you talking about all 4 years?

[Anonymous]

People who pay that much for a bachelor's degree are paying a premium to go to a higher-ranked school.

If you can get into Prestige U at full sticker, you can probably go to a slightly less prestigious school for much less.

[Anonymous]

Anonymous wrote:People who pay that much for a bachelor's degree are paying a premium to go to a higher-ranked school.

If you can get into Prestige U at full sticker, you can probably go to a slightly less prestigious school for much less.

All true. This has been our experience exactly. xDH agreed with DD to pay expenses for any top 50 school she could get into (this was actually perfect motivation for DD in high school). So today she's very happy at a highly-ranked expensive private college and xDH pays about $68k per year. DD was a 3.4ish GPA high school student and had multiple partial scholarships to lower ranked out of state colleges.

[Anonymous]

Anonymous wrote:Our income is in that range (~$180k)and we can afford it (the FAFSA of $60-$70k). It isn't supposed to come out of your cash flow for the year. It is an expected expense since deciding to have children. Almost two decades should be enough time to save for it.

We have three children and have saved for two decades and cannot pay $60K/year today (and likely $80K/year by the time our youngest is there).

[Anonymous]

Anonymous wrote:We are upper middle class - top 1% income actually, with 7 degrees between DH and me, including PhD and JD.

The fact that people are throwing around these numbers, $45k, $65K, etc./ PER YEAR just to go to school is insane to me. The fact that people will actually pay that and think it is okay is even more insane to me. The value proposition is totally out of whack for a bachelors degree. We are saving too, but plan to spend no where close to that amount (and, yes, I've looked at the projections). I hope to pay for my children to get an education, not an experience. We need a revolution in the university system in this country. One year of parents refusing to pay those stupid, over-inflated, and unnecessary prices and the rates will come way down. Ridiculous!

I agree.

[Anonymous]

Anonymous wrote:Our income is in that range (~$180k)and we can afford it (the FAFSA of $60-$70k). It isn't supposed to come out of your cash flow for the year. It is an expected expense since deciding to have children. Almost two decades should be enough time to save for it.

For our two kids we have not been able to save $500K+ over the past two decades, given other obligations (retirement, mortgage, etc.). Our HHI is $200K but was half that at the beginning. I imagine we are in the majority.

Kudos to you for pulling it off, but I think you are the exception.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our income is in that range (~$180k)and we can afford it (the FAFSA of $60-$70k). It isn't supposed to come out of your cash flow for the year. It is an expected expense since deciding to have children. Almost two decades should be enough time to save for it.

For our two kids we have not been able to save $500K+ over the past two decades, given other obligations (retirement, mortgage, etc.). Our HHI is $200K but was half that at the beginning. I imagine we are in the majority.

Kudos to you for pulling it off, but I think you are the exception.

Think about it people. To "pull it off" you have to save for two decades for a four year stint. There's something wrong with that. It should not be that way. Discourse and expectations have to change if we are going to bend and actually lower the cost curve.

[Anonymous]

You have it all backwards. We pay $68k because that's what the sticker price is for the best school DD wants to go to. If you're at <$180k HHI or other circumstances, you can get aid. We don't need aid. Buy where do you think the $$ we "overpay" in tuition goes? To your financial aid package! Just be thankful there are people able/willing to subsidize your kid's education. Short of that, why on earth does it concern you what price we pay to send our kids to school?

[Anonymous]

Anonymous wrote:You have it all backwards. We pay $68k because that's what the sticker price is for the best school DD wants to go to. If you're at <$180k HHI or other circumstances, you can get aid. We don't need aid. Buy where do you think the $$ we "overpay" in tuition goes? To your financial aid package! Just be thankful there are people able/willing to subsidize your kid's education. Short of that, why on earth does it concern you what price we pay to send our kids to school?

Haha no. It goes to administrative bloat and unnecessary amenities.

[Anonymous]

The aid $$ just grows on trees. Just like money funding federal programs.

[Anonymous]

Anonymous wrote:We are upper middle class - top 1% income actually, with 7 degrees between DH and me, including PhD and JD.

The fact that people are throwing around these numbers, $45k, $65K, etc./ PER YEAR just to go to school is insane to me. The fact that people will actually pay that and think it is okay is even more insane to me. The value proposition is totally out of whack for a bachelors degree. We are saving too, but plan to spend no where close to that amount (and, yes, I've looked at the projections). I hope to pay for my children to get an education, not an experience. We need a revolution in the university system in this country. One year of parents refusing to pay those stupid, over-inflated, and unnecessary prices and the rates will come way down. Ridiculous!

I dunno. I'm pretty happy with the job my kid landed in Manhattan with a social sciences degree last May from a New England top 15 SLAC. They taught her to write, think critically and the social connections/exposure helped grease the works. And she is intellectually curious, culturally literate and will be a life-long learner I'm sure. She makes enough of a starting salary to get an apartment with a few kids. Might be interesting to talk to friends with really recent college grads (and not from 3-4 years ago when the economy was still recovering).

[Anonymous]

Anonymous wrote:

Anonymous wrote:You have it all backwards. We pay $68k because that's what the sticker price is for the best school DD wants to go to. If you're at <$180k HHI or other circumstances, you can get aid. We don't need aid. Buy where do you think the $$ we "overpay" in tuition goes? To your financial aid package! Just be thankful there are people able/willing to subsidize your kid's education. Short of that, why on earth does it concern you what price we pay to send our kids to school?

Haha no. It goes to administrative bloat and unnecessary amenities.

Uh no. It goes to aid. There's a lot of money out there. You need to look instead of jumping to confusions.

[Anonymous]

I have a 12 year old and we have been saving since birth. However, maybe it makes more sense to have him go to a community college and then in-state for two years and we give our child $150,000. They can then invest in income generating real estate, have a good chuck of retirement covered, down payment on a house, business venture - I don't know. College costs just don't seem rational at all.