Speculate please - cost of college 18 years from now

[AroundTheBlock]

Cost of out of state colleges will double (yes, double) in 18 years.

[Anonymous]

Yikes! I graduated less than 10 years ago from state school and it's more than doubled! Too bad salaries haven't done the same

[Anonymous]

What a waste of money.

[Anonymous]

I'm also assuming $50K/year for state and $100K/year for private (when mine start in 12 years).

I don't see a bubble, per se, that could pop. At least at my small private college and others like it, they are struggling with trying to keep tuition in check while keeping facilities up to par - its not like some of the big schools where the administrators are living high on the hog and there's lots of fat to be cut. Now, schools do have to collectively say "no" to this trend of rapidly improving facilities, and providing very high end facilities, so there is an end to competition in that regard and they can better keep costs under control. But beyond that, I'm not sure what is going to "burst."

[Anonymous]

We're in MD and there are state schools that cost about 20k/year now including room and board.

Unless there is a scholarship or significant aid, we just won't be funding a private college education. Can't do it.

[Anonymous]

Too Damn Much!

[Anonymous]

I went to a private college in Boston with financial aid and loans (I was poor but the loans were reasonable) 25 years ago. Now my dc wants to go to the same college in Boston (now I am upper middle class) This college costs almost $60,000 a year. There is no way we can pay $240,000 for an undergraduate education. I told my dc the better option is to go to our state school and save money for your life where you choose to live after you graduate. Perhaps Boston if you can find a job- because an apartment in the city will cost a lot too. Students and parents can not be saddled with debt from college. Parents will have retirement/ aging issues/ high health care costs around the corner and students face a tough job market with a future of high housing costs. Student debt will hurt everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

That seems totally right. If you make $430k/year, you should easily be able to pay for college at private schools for 2-3 children. If you can't, you are doing something wrong.

Out of earned income? We net $218,000 after taxes and maxing out our 401(k)s. $68K for all other expenses for two people for an entire year????

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

Considering that people can and do live on much less than $280K a year (the difference in those two amounts), I don't see how that's not reasonable. What, didn't you save a dime of that huge income over the years?

We pay almost half our gross income in taxes.

[Anonymous]

Anonymous wrote:

It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

What's not right is that one would feel that it is some kind of hardship to live on 280K per year.

Another person who doesn't understand the high tax bracket and disallowance of exemptions issues.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

What's not right is that one would feel that it is some kind of hardship to live on 280K per year.

Another person who doesn't understand the high tax bracket and disallowance of exemptions issues.

Another person who needs to quit bitching about how hard it is to be rich.

[Anonymous]

Um...what is EFC?

[Anonymous]

Anonymous wrote:Um...what is EFC?

expected family contribution

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

What's not right is that one would feel that it is some kind of hardship to live on 280K per year.

Another person who doesn't understand the high tax bracket and disallowance of exemptions issues.

Another person who needs to quit bitching about how hard it is to be rich.

That's a lot of money, but be honest, not enough to pay $150K after taxes unless all of the rest of the life is structured around cutting costs to pay for schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It's crazy. Our EFC is $150,000 per YEAR with a $430,000 income. That's just not right.

That seems totally right. If you make $430k/year, you should easily be able to pay for college at private schools for 2-3 children. If you can't, you are doing something wrong.

Out of earned income? We net $218,000 after taxes and maxing out our 401(k)s. $68K for all other expenses for two people for an entire year????

If I earned 430K/year I would expect to pay for college. It is a foreseeable expense and I would have saved enough to cover it. In fact, hour HHI is half yours and we have saved enough to cover it in full.

You seriously think a family with an income of almost half a million dollars a year should get financial aid?