college savings were less than i thought.

[Anonymous]

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

[Anonymous]

Anonymous wrote:Move to Virginia and use in-state options.

No no no
At this point in time no college students should be applying in VA til parents know VA will be safe.

VA is coming for contraception and Youngkin will kill schools so yeah no.

[Anonymous]

You and your kids are quite well off. It will be fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

You already have $135,000 per kid. Divided by 4 years that equals 33,750 per year per kid. Then take the $50k you currently spend and give $25k/year to each of your 10th graders. That’s $58,750 per year per kid. You’ll need to figure out something for when kid 3 enters college but you’ve got plenty of time to figure that out. Am I missing something?

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

So you actually have about $500,000 in savings plus cash flow of $50k/year to get 3 kids through college?

I still don’t see the problem- use $250k/ each for the twins and save the $50 in private school tuition for the younger kid. Also try to get merit scholarships.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Move to Virginia and use in-state options.

No no no
At this point in time no college students should be applying in VA til parents know VA will be safe.

VA is coming for contraception and Youngkin will kill schools so yeah no.

Ok drama lama.

But I agree don’t move to Virginia. We have enough people.

[Anonymous]

Anonymous wrote:You and your kids are quite well off. It will be fine.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

So you actually have about $500,000 in savings plus cash flow of $50k/year to get 3 kids through college?

I still don’t see the problem- use $250k/ each for the twins and save the $50 in private school tuition for the younger kid. Also try to get merit scholarships.

We have savings of $405k plus cash flow of $50K yearly based on current school expenditure plus maybe an additional $50K if we trim down life to survival or "graduate student" level (no extras at all).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

So you actually have about $500,000 in savings plus cash flow of $50k/year to get 3 kids through college?

I still don’t see the problem- use $250k/ each for the twins and save the $50 in private school tuition for the younger kid. Also try to get merit scholarships.

We have savings of $405k plus cash flow of $50K yearly based on current school expenditure plus maybe an additional $50K if we trim down life to survival or "graduate student" level (no extras at all).

I’m 14:09 and I think you can do it without trimming except maybe the one year all three are in together. Check my math above.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You are currently managing to pay $50k/year for each kid for private school from current cash flow? You don't need to save anything for college. Your kids will have plenty of college options at that budget. With the savings you do intend for college you would be able to full pay at any school.

FWIW, we pay about $26k/year for one in-state public U and senior DD has offers with merit aid that put the net prices at a range of $17k/year to $39K.

OP here. We pay $50K for one kid to attend private. A family member pays for kid #2 (that money won't continue on to college).

So you actually have about $500,000 in savings plus cash flow of $50k/year to get 3 kids through college?

I still don’t see the problem- use $250k/ each for the twins and save the $50 in private school tuition for the younger kid. Also try to get merit scholarships.

We have savings of $405k plus cash flow of $50K yearly based on current school expenditure plus maybe an additional $50K if we trim down life to survival or "graduate student" level (no extras at all).

I’m 14:09 and I think you can do it without trimming except maybe the one year all three are in together. Check my math above.

Agree. I think OP is in much better shape than they believe they are. Based on the facts presented, your math seems right.

[Anonymous]

Oh DCUM. OP-I don’t even know what to say.

[Anonymous]

First, if the kids were truly having problems in public school, that justifies the private school spending. Letting your kids go to bell is a bad way to economize.

Second, the real solution is just to tell your kids now that you hope to be able to pay $55,000 per year for them for college, and that they might have have to come up with the rest through work, loans, etc.

If you can pay $55,000 per year, and they get TAG, that means they can attend any public college in the world, and any private school that really likes them and offers merit aid.

If they’re ordinary bright kids, that should be fine.

Avoid paying for high-end test prep are admissions consulting. If your kids want high-end help, they should earn the money to pay for it.

If your kids really are rocket scientists, and both tenth graders get into any of the kinds of no-merit private colleges that are very clearly better than the University of Maryland or Indiana University (example: HYPSM, or Cal Tech) without special admissions help, then work should get them up to $65,000 per year, moderately frugal living should get them up to $75,000, and maybe your kids could qualify for loans and get up to $82,000, or you could swallow hard, be very frugal and get the total to $80,000.

If you get twins into HYPSM, without help from fancy consultants, maybe that would be a reason to talk to relatives and see if they could help with getting the kids up to $80,000, from $75,000.

Also, if you get wonderful twins into HYPSM, maybe you could get the financial aid offices to help with loans and capping total costs at $80,000 per year per kid.

[Anonymous]

Anonymous wrote:Oh DCUM. OP-I don’t even know what to say.

+1. And imagine if you were OP's DH -- but that's for another forum.

[Anonymous]

I agree with your husband... You are five. 135 per kid? Goodness.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Oh DCUM. OP-I don’t even know what to say.

+1. And imagine if you were OP's DH -- but that's for another forum.

Yep. HER low income job is totally fine but his higher income job is not good enough!