Coming to Terms with Full Pay

[Anonymous]

OP, yes, you are being entitled. Ridiculously so. Send your kids to a good public school and get your head screwed on straight so you can be thankful for what you have.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, you may have addressed this but I don’t have time to read all the comments. Are your kids still young enough for you to move/rent in Virginia and meet the residency requirement? That would open up so many more options for you.

Virginians always say this but it really doesn’t help.

OP’s primary concern is with the cost of private schools, which are no less expensive from Virginia.

As for state schools, moving to Virginia makes almost all of them more expensive, not less, because you lose TAG.

As for Virginia schools, most are no more expensive from DC than from Virginia, after merit and TAG.

Moving to Virginia for colleges only really makes sense if you are planning to send your child to UVA or W&M. Which of course is why high school in NoVa can get so cutthroat.

(There are plenty of other excellent reasons to live in the beautiful state of Virginia, but if those reasons were compelling to OP, they’d already live there.)

All wrong:
1) OP never says private only.
2) OP needs to look at in-state options including guaranteed transfer programs from schools like Virginia Community colleges to four year publics. That’s affordable.
3) TAG is worth only $10,000. Most privates are running $93k a year. TAG makes that amount $83k. UVA and the other in-states are around $40K = a $43k year savings. Invest the difference, if you have it, and you can help with grad school.
4) if OP rents or moves now they will meet the VA residency requirement. Or MD (but fewer options in MD).
5) from VA, OP can apply to public and also then start chasing merit money at privates throughout America. You aren’t confined to privates only in VA (strange assumption).

But you must start planning now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you may have addressed this but I don’t have time to read all the comments. Are your kids still young enough for you to move/rent in Virginia and meet the residency requirement? That would open up so many more options for you.

Virginians always say this but it really doesn’t help.

OP’s primary concern is with the cost of private schools, which are no less expensive from Virginia.

As for state schools, moving to Virginia makes almost all of them more expensive, not less, because you lose TAG.

As for Virginia schools, most are no more expensive from DC than from Virginia, after merit and TAG.

Moving to Virginia for colleges only really makes sense if you are planning to send your child to UVA or W&M. Which of course is why high school in NoVa can get so cutthroat.

(There are plenty of other excellent reasons to live in the beautiful state of Virginia, but if those reasons were compelling to OP, they’d already live there.)

All wrong:
1) OP never says private only.
2) OP needs to look at in-state options including guaranteed transfer programs from schools like Virginia Community colleges to four year publics. That’s affordable.
3) TAG is worth only $10,000. Most privates are running $93k a year. TAG makes that amount $83k. UVA and the other in-states are around $40K = a $43k year savings. Invest the difference, if you have it, and you can help with grad school.
4) if OP rents or moves now they will meet the VA residency requirement. Or MD (but fewer options in MD).
5) from VA, OP can apply to public and also then start chasing merit money at privates throughout America. You aren’t confined to privates only in VA (strange assumption).

But you must start planning now.

I don’t think you understand this situation at all.

Why are you taking $10,000 off the price of private schools and attributing it to DC TAG? That’s not how DC TAG works.

What do Virginia privates have to do with anything? It doesn’t matter where private schools are located.

And the key question: Why do you assume DC residents can’t find public schools to attend in the $40k range, if that’s what we want? I am personally sitting on two offers of $40k/year or less (after merit but without even taking DC TAG into consideration), both at public schools not located in Virginia.

[Anonymous]

While you should expect/embrace paying full tuition, things may turn out differently depending on your kid's approach. My family would have been full pay but my kid's application strategy was to chase merit and fit, rather than prestige; she received significant merit scholarships from several terrific schools. In the end, DD chose the least-expensive option on the table even though she had other affordable (if somewhat more expensive) offers.

[Anonymous]

Anonymous wrote:So I started checking the net price calculators. We are both feds and have been for 20-plus years, with plenty of promotions. Own our little rowhouse. Almost paid off. 20 years of TSP. 2 kids, strictly DCPS. Old car, limited spending, lots of savings. No medical bills.

We’re gonna be at max for ability to pay even though we aren’t living in champagne and caviar. Right?

I just need to count my blessings right? We’ve had stability and ability to pay even if we aren’t living high on the hog. People with more precarious lives deserve the lower price. Right?

I guess merit aid is possible - first kid did great on PSAT. But we’re still likely to just pay full freight even then because if he applies to a reach school EA or ED we’ll say yes, right?

Turned down full ride to be full pay at Harvard. Kid has regrets. I think it’s hard to turn down that reach school when your kid gets in. Maybe don’t let them apply if you have any doubts about the $$$.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So I started checking the net price calculators. We are both feds and have been for 20-plus years, with plenty of promotions. Own our little rowhouse. Almost paid off. 20 years of TSP. 2 kids, strictly DCPS. Old car, limited spending, lots of savings. No medical bills.

We’re gonna be at max for ability to pay even though we aren’t living in champagne and caviar. Right?

I just need to count my blessings right? We’ve had stability and ability to pay even if we aren’t living high on the hog. People with more precarious lives deserve the lower price. Right?

I guess merit aid is possible - first kid did great on PSAT. But we’re still likely to just pay full freight even then because if he applies to a reach school EA or ED we’ll say yes, right?

Turned down full ride to be full pay at Harvard. Kid has regrets. I think it’s hard to turn down that reach school when your kid gets in. Maybe don’t let them apply if you have any doubts about the $$$.

Yep. Told my kid not to apply to Harvard because not a good fit but kid may find it hard to turn down if gets in

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, you may have addressed this but I don’t have time to read all the comments. Are your kids still young enough for you to move/rent in Virginia and meet the residency requirement? That would open up so many more options for you.

Virginians always say this but it really doesn’t help.

OP’s primary concern is with the cost of private schools, which are no less expensive from Virginia.

As for state schools, moving to Virginia makes almost all of them more expensive, not less, because you lose TAG.

As for Virginia schools, most are no more expensive from DC than from Virginia, after merit and TAG.

Moving to Virginia for colleges only really makes sense if you are planning to send your child to UVA or W&M. Which of course is why high school in NoVa can get so cutthroat.

(There are plenty of other excellent reasons to live in the beautiful state of Virginia, but if those reasons were compelling to OP, they’d already live there.)

All wrong:
1) OP never says private only.
2) OP needs to look at in-state options including guaranteed transfer programs from schools like Virginia Community colleges to four year publics. That’s affordable.
3) TAG is worth only $10,000. Most privates are running $93k a year. TAG makes that amount $83k. UVA and the other in-states are around $40K = a $43k year savings. Invest the difference, if you have it, and you can help with grad school.
4) if OP rents or moves now they will meet the VA residency requirement. Or MD (but fewer options in MD).
5) from VA, OP can apply to public and also then start chasing merit money at privates throughout America. You aren’t confined to privates only in VA (strange assumption).

But you must start planning now.

PP specifically mentioned that it does matter to be in state for UVA and W&M.

BTW, UVA is now over $50k in state for business and engineering (over $90k OOS for those majors).

I don’t know the delta for VT, but TAG plus usually merit at other VA public schools effectively removes the delta with all other VA public’s.

[Anonymous]

Canadian schools are cheaper...but I wouldn't say much, much cheaper...at least the schools my kid looked at. UToronto for engineering 2 years ago came to around US$64k...I assume it is probably around US$70k now. This was just tuition and room & board...this doesn't include other items like travel, books, etc. that are estimated in the total COA.

They do charge a la carte and engineering majors cost more than liberal arts.




McGill in Montreal is half of that! (For an American)!

Is U of Toronto a private school? McGil is public.