75k college fund can afford what in VA or outside

[Anonymous]

I anticipate having saved approximately $75,000 per child in college funds by the time they graduate from high school in three years from now. In practical terms, if they choose to pursue a STEM field such as engineering or science, which colleges should I consider as a Virginia resident, taking into account affordability, both in-state and out-of-state options?

[Anonymous]

Something within commuting distance of your house, and allow them to still live at your home while going to college?
George Mason is excellent (and rising!) for STEM fields.

The Virginia public schools average at least $25k/year when you include housing/meal costs.

[Anonymous]

Anonymous wrote:Something within commuting distance of your house, and allow them to still live at your home while going to college?
George Mason is excellent (and rising!) for STEM fields.

The Virginia public schools average at least $25k/year when you include housing/meal costs.

+1 also, depending on the field look into UMW and CNU. Both give some merit aid. UMW would have been $17k per year for DD.

[Anonymous]

They can work and save some money in their summers. They can take loans that would not be overly burdensome for any school in Virginia.

Purdue is a more reasonable out of state option, but would probably require loans. Engineers frequently co-op and earn decent amounts so that could help decrease the loan burden.

If they are well suited for it, becoming an RA in the dorms generally gives a student free room and board and sometimes an additional small stipend.

Engineering majors at most schools have additional fees assessed.

[Anonymous]

Anonymous wrote:I anticipate having saved approximately $75,000 per child in college funds by the time they graduate from high school in three years from now. In practical terms, if they choose to pursue a STEM field such as engineering or science, which colleges should I consider as a Virginia resident, taking into account affordability, both in-state and out-of-state options?

OP here. Is Virginia Tech out of possibility? Do they provide financial aid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I anticipate having saved approximately $75,000 per child in college funds by the time they graduate from high school in three years from now. In practical terms, if they choose to pursue a STEM field such as engineering or science, which colleges should I consider as a Virginia resident, taking into account affordability, both in-state and out-of-state options?

OP here. Is Virginia Tech out of possibility? Do they provide financial aid?

Very little. I helped a low-income, first gen student with his application there and his only aid was Pell grant + a similar VA state grant for low income. Still left with $20k to pay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I anticipate having saved approximately $75,000 per child in college funds by the time they graduate from high school in three years from now. In practical terms, if they choose to pursue a STEM field such as engineering or science, which colleges should I consider as a Virginia resident, taking into account affordability, both in-state and out-of-state options?

OP here. Is Virginia Tech out of possibility? Do they provide financial aid?

Very little. I helped a low-income, first gen student with his application there and his only aid was Pell grant + a similar VA state grant for low income. Still left with $20k to pay.

But your 529 savings, plus the standard federal loans (not an unreasonable amount for kids to take), plus kid's summer earnings and a bit more from parents current cash flow can make VT work.

[Anonymous]

Anonymous wrote:I anticipate having saved approximately $75,000 per child in college funds by the time they graduate from high school in three years from now. In practical terms, if they choose to pursue a STEM field such as engineering or science, which colleges should I consider as a Virginia resident, taking into account affordability, both in-state and out-of-state options?

You can do the Net Price Calculator for a couple different schools and see what the results are. Every college website should have a link for this. Even if it is an imperfect estimate, it will be more useful than DCUM guessing.

[Anonymous]

For VT, what is a reasonable college savings fund for current high school student?

[Anonymous]

Anonymous wrote:For VT, what is a reasonable college savings fund for current high school student?

Need to source about $35k to $40k/year x 4 = $140k to 160k total, it appears.

Others who have had kids attend there recently can provide better estimates.

[Anonymous]

Anonymous wrote:

Anonymous wrote:For VT, what is a reasonable college savings fund for current high school student?

Need to source about $35k to $40k/year x 4 = $140k to 160k total, it appears.

Others who have had kids attend there recently can provide better estimates.

I have a junior there. Current tuition is just under $16k. Living expenses will vary. Most live off campus after first year. For our off campus student it's about $10k/yr for rent +groceries/dining dollars. Any spending beyond that, including books, he pays for so I don't know the amount.
Tuition goes up a bit each year but for him living expenses went down. First apartment was less than the dorm and this year he moved to an even less expensive apartment.

[Anonymous]

Not sure this applies to your family but if healthcare falls through Nader the sciences umbrella, VCU is very reasonable and gives good merit, or it did 2 years ago.
Not sure what the off campus situation is. I think VCU has really limited on campus housing beyond freshman year

[Anonymous]

Inder the umbrella

[Anonymous]

Under

[Anonymous]

V Tech is within the realm of possibility, depends on your net worth, other than your primary house, and how you fill that financial aid form