Is the actual cost of having a kid in college what you expected ?

[Anonymous]

For those of you who have a child in college now, has the total actual cost lined up with what you expected? I see that schools provide estimate what the total cost will be (tuition, room and board, meals, incidentals)

[Anonymous]

Ugh. Hit submit accidentally. I meant to add -

Has that estimate been accurate? Or is it more than what you thought?

[Anonymous]

Yes, ours has been exactly as the school outlined once we opted out of their health insurance. It helps that books and other instructional materials are free at our child’s school. I remember that being a large tacked on expense when I was in college.

[Anonymous]

College Board's Big Future site was spot-on

[Anonymous]

Anonymous wrote:Yes, ours has been exactly as the school outlined once we opted out of their health insurance. It helps that books and other instructional materials are free at our child’s school. I remember that being a large tacked on expense when I was in college.

Swat?

[Anonymous]

Books are cheaper now. It's negligible compared to my late '80s expenses.

Everything is pretty close to what I expected except the vending machine tab/out of dorm snack bill is $100-ish a month. This is kind of bugging me. Because I'm cheap.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, ours has been exactly as the school outlined once we opted out of their health insurance. It helps that books and other instructional materials are free at our child’s school. I remember that being a large tacked on expense when I was in college.

Swat?

Amherst

[Anonymous]

Sooooo much more expensive.

Full pay Ivy $92k/year. When kid was in elementary, I thought it would be $65k/year for an Ivy/T20 private.

2nd kid starting in one year and we will be full lay for both.

[Anonymous]

I didn’t expect $5000 in sorority dues!

[Anonymous]

The biggest variable is transportation. Can you transport your child for breaks or do they require a plane ride?

[Anonymous]

The tuition, room and board has been accurate. However, flying the child home for Thanksgiving, winter break, spring break, and flying there for parents weekend (and paying an outrageous amount for a hotel), as well as all the little things needed, add up to a lot.

It's like buying a house by stretching, and then you realize you need window shades or curtains, bathmats and shower curtains, kitchen towels and entry mats, etc. If you are stretching, and budgeting every dollar, college will seem a lot more than what you thought. But chances are, those costs will exist at any OOS college, so unless your kid is staying within a couple of hours drive, suck it up, allow them to enjoy the ride, and just keep forking over the dough and smiling. It's only 4 years. Per child.

We have 2 currently in college and one who's graduated and gainfully employed. Only one stayed within driving distance

[Anonymous]

Slightly less than expected overall because DC is an RA at a state school, which means room and part of the meal plan are covered. Sorority and club dues are more than expected. As others mentioned, hotels for family events at school add up,

[Anonymous]

Anonymous wrote:For those of you who have a child in college now, has the total actual cost lined up with what you expected? I see that schools provide estimate what the total cost will be (tuition, room and board, meals, incidentals)

Yes, the only surprises were less aid for two and more for one.

[Anonymous]

We’ve found cost estimates actually overestimated a bit at an expensive private. Ours has been able to use their summer savings for fun discretionary stuff, you can book travel way in advance because you know the dates…. Has worn old high school dresses to formals or swapped with friends… We really haven’t seen other unexpected costs - no club dues, books have been cheap…. Kid is in a sport and that stuff is all included.

[Anonymous]

My college kid is low maintenance and spends very little on stuff. He's at a SLAC where the meal plan is unlimited swipes and where the off-campus environment is very limited and low cost. The only surprise should not be a surprise, which is that tuition has steadily risen every year. Just paid his last semester bill, which started out around $41k for the first semester and is now $45k.