Just calculated projected college costs for my kid and almost vomited

[Anonymous]

Anonymous wrote:

Anonymous wrote:We should be angry at the cost of state schools, not privates. And I know someone will come on here and say “UMD is only $11k” (conveniently ignoring the cost of room and board) which is a ridiculous answer considering
1-Some qualified kids still can’t afford that amount per year in tuition
2-If they are going to live nearby CP, rent costs money
3-Don’t suggest a kid live at home and commute 45+ minutes per day if that is not an option you’d find acceptable for YOUR OWN kid. If that was such an amazing option everyone would do it. You can’t boast the benefits of living in a dorm (and make fun of directional “commuter” schools) and then say that THOSE kids should commute because it’s so great, but but not my kid!

Tuition is the important thing. Living in a dorm is a luxury not all families can afford so they live off campus or at home. There is nothing wrong with that. Would I prefer my kid to live on campus? Sure. I saved for it but if something happened and they couldn't I would have them commute. The important thing is to get a college degree for a good job, not living on campus. 45 minute commute is normal around here.

My college required that students live on campus for their first three years.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We should be angry at the cost of state schools, not privates. And I know someone will come on here and say “UMD is only $11k” (conveniently ignoring the cost of room and board) which is a ridiculous answer considering
1-Some qualified kids still can’t afford that amount per year in tuition
2-If they are going to live nearby CP, rent costs money
3-Don’t suggest a kid live at home and commute 45+ minutes per day if that is not an option you’d find acceptable for YOUR OWN kid. If that was such an amazing option everyone would do it. You can’t boast the benefits of living in a dorm (and make fun of directional “commuter” schools) and then say that THOSE kids should commute because it’s so great, but but not my kid!

Tuition is the important thing. Living in a dorm is a luxury not all families can afford so they live off campus or at home. There is nothing wrong with that. Would I prefer my kid to live on campus? Sure. I saved for it but if something happened and they couldn't I would have them commute. The important thing is to get a college degree for a good job, not living on campus. 45 minute commute is normal around here.

My college required that students live on campus for their first three years.

My kid’s requires all four years unless the kid is married or can prove they live with their parents (the college is in a rural area). I think that it’s a total month grab; the town is furious and wants the requirement repealed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We should be angry at the cost of state schools, not privates. And I know someone will come on here and say “UMD is only $11k” (conveniently ignoring the cost of room and board) which is a ridiculous answer considering
1-Some qualified kids still can’t afford that amount per year in tuition
2-If they are going to live nearby CP, rent costs money
3-Don’t suggest a kid live at home and commute 45+ minutes per day if that is not an option you’d find acceptable for YOUR OWN kid. If that was such an amazing option everyone would do it. You can’t boast the benefits of living in a dorm (and make fun of directional “commuter” schools) and then say that THOSE kids should commute because it’s so great, but but not my kid!

Tuition is the important thing. Living in a dorm is a luxury not all families can afford so they live off campus or at home. There is nothing wrong with that. Would I prefer my kid to live on campus? Sure. I saved for it but if something happened and they couldn't I would have them commute. The important thing is to get a college degree for a good job, not living on campus. 45 minute commute is normal around here.

Pp here. Ok UMD wasn’t a good example because it’s urban. But how is a working class kid in the DMV supposed to commute to UVa? VT? I read an article about a kid who commutes 2 hours each way to UC Berkeley, but that must be brutal.

[Anonymous]

College/universities need to make all outside scholarships stackable. And not up the cost for a kid if they decide to commute or they’re a transfer from cc.

[Anonymous]

I guess that I felt like if we could figure out how to pay for daycare when we were:
- early in our careers
- still paying on a mortgage and student loans, and
- had relatively little time to prepare

then we can figure out a way to pay for college.

One thing to remember is that you don’t have to have every cent in a savings account. You only need to have the difference between what you can pay out of pocket and what the actual cost of tuition is. Right now, you are paying for daycare and putting away money for college every month. So that is probably $20-$30k/yr that you know you can pay out of pocket.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. So I mentioned this to DH, who has worked in higher ed. He said the number one thing that will stop all of this is to get rid of private student loans entirely. He said as soon as students can only take out loans up to the federal limit, "tuition will crater back down immediately."

Similarly to what some of you have said, he said the biggest driver of tuition increases is the ability for students to borrow a ton of money. He also said that if you can discharge loans in bankruptcy, that will reduce banks' incentive to give out these loans like candy.

I do not disagree with your DH, but in addition to the availability of loans, the reduction in the states' funding of higher education has been a huge contributor to out-of-control increases. As state schools - which serve as a bellwether for both public and private schools' tuition - increased their tuition and fees, private schools have followed suit, so that their tuition and fees stay apace (proportionately) with those of public schools. And up and up it has all gone.

My NESCAC school cost about $9,000 in 1981 when I attended. Had its tuition and fees increased at the same rate as inflation, it would cost just under $27,000 today. Instead, it costs just under $77,000.

Crazy.

Yeah, you're right. My dad went to Syracuse in the 70s and said tuition was so low then that students really could earn it through working part-time jobs. He worked at the student union. Syracuse's base tuition is now $50K and when you include room and board you're looking at $73K. They estimate students will need to budget an additional $4K/year for misc expenses. Insane.

And that's why DD is no longer at CUSE. She's finishing up @ UMD living at home to a cost of just over 10k. Way less that her private HS....lol

[Anonymous]

Anonymous wrote:I guess that I felt like if we could figure out how to pay for daycare when we were:
- early in our careers
- still paying on a mortgage and student loans, and
- had relatively little time to prepare

then we can figure out a way to pay for college.

One thing to remember is that you don’t have to have every cent in a savings account. You only need to have the difference between what you can pay out of pocket and what the actual cost of tuition is. Right now, you are paying for daycare and putting away money for college every month. So that is probably $20-$30k/yr that you know you can pay out of pocket.

Lmao you think that people can afford to pay for daycare and save for college at the same time. Your privilege disqualifies you, you are henceforth banned from commenting on this subject.