What did you pay last year (tuition+living) for DC college?

[Anonymous]

Anonymous wrote:Private. We paid $0.

And this is helpful how?

[Anonymous]

Anonymous wrote:[

Most likely your friends' students received very generous merit aid packages, espeically if they're attending lower-ranked/regional private schools.

We've found that the cutoff for actual financial aid (not merit aid) is about $180,000 at the top schools. (Our HHI is $180K and we pay $18K/year at Princeton. Duke and Northwestern both came in at about $50K, so Princeton is a great deal.)

When people say the cutoff is about $180000 HHI is that gross income or is it AGI?

Bump

[Anonymous]

Anonymous wrote:

Anonymous wrote:I also have a high school freshman. My question for parents of college kids is did you find that the "net price calculators" on school websites were accurate?

No.

+1. Not been close for us. We actually pay about $52,000 - calculator projected $20,000. And, $52 is a lot of money for us.

[Anonymous]

Get government out the student loan business and the rates would go down--that is when they started going through the roof in the first place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Total cost at her OOS Catholic college- $48,000
minus merit aid - $14000
Paying $34K out of pocket.

She probably could have gotten into some "higher ranked" schools but we knew we absolutely could not do 50/60K or more a year so we focused our efforts on schools that gave merit aid. And state schools, but she didn't really like any of VA's options except William and Mary which she was rejected from.

As a Maryland parent, it kills me when I hear Virginia students say they just don't like the Virginia colleges. I wish we had in-state choices like yours. That said, I know it must kill you, too!

Let's switch. My DC wants to major in physics. MD beats Va hands down for this major.

I have a friend who is a physicist. He went to Va Tech for undergrad, majoring in physics and math. Then Harvard for doctorate in physics. Now well employed as research physicist at a national lab. Your DC will be perfectly fine at a VA state school for undergrad in physics, and then the PhD will be funded.

How many others have there been?

A lot. People go to name-brand grad and professional schools from all kinds of undergrad programs.

[Anonymous]

Anonymous wrote:I'm a teacher who currently makes around $60K but my DD is 10 yrs old right now. I'm wondering how I'll ever afford even a state school. In the next few years, I can start saving maybe $100/month for college but that's it. The fact that some of you pay more than I gross in a year for college makes me wonder what to do. I know there are a lot of schools that would give a lot of FA but what if my DD doesn't get into them? I am not against student loans because I had them myself but if she doesn't get into the schools with who give out lots of FA, what is left to do?

Nothing wrong with comminity college for the first two years.

[Anonymous]

Private college in the Midwest- $5K a year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:[

Most likely your friends' students received very generous merit aid packages, espeically if they're attending lower-ranked/regional private schools.

We've found that the cutoff for actual financial aid (not merit aid) is about $180,000 at the top schools. (Our HHI is $180K and we pay $18K/year at Princeton. Duke and Northwestern both came in at about $50K, so Princeton is a great deal.)

When people say the cutoff is about $180000 HHI is that gross income or is it AGI?

Bump

Every school has it's own need based financial aid formula, but generally I'd say $180k gross HHI is most accurate as the ceiling. We were getting 30k/yr FA from Duke when our HHI was under 150k. When our HHI rose to 175k gross we got only 8k/yr.

[Anonymous]

Private school tuition is like MSRP on a new car - very few people pay it. Most kids get "merit scholarships" which are really just discounts they give to everyone but psychologically they make parents feel like they are getting a deal.

[Anonymous]

Anonymous wrote:We told DD that we would fund 75% of the cost of an in-state tuition and she could fund 25% through student loans that do not exceed federal maximum. We felt that amount kept her student loan burden at a manageable level.

If she wanted to have out of state public or private colleges as options she needed to bring grades / scholarships to the table that augmented the above sources. She is not the most studious, so she stayed with the in-state option, and I think its been a good fit. Do what you can afford. If you can afford 62k, more power to you. We felt we could not and given her academics we didn't think it would measurably change her college experience either.

You sound very wise and are probably doing her a great service by teaching that money doesn't grow on trees, choices have consequences.

[Anonymous]

Anonymous wrote:Get government out the student loan business and the rates would go down--that is when they started going through the roof in the first place.

This.

[Anonymous]

$65,000 for Bowdoin tuition, room board, books etc...
-$1200 work study

[Anonymous]

Anonymous wrote:$65,000 for Bowdoin tuition, room board, books etc...
-$1200 work study

We are savers and now it comes back to bit us in the A$$!~!~!~!~!~!~!!!!!!!!!!!!!!!

[Anonymous]

Anonymous wrote:Private school tuition is like MSRP on a new car - very few people pay it. Most kids get "merit scholarships" which are really just discounts they give to everyone but psychologically they make parents feel like they are getting a deal.

Nice of you to think so. A handful of posters on this thread have indicated they pay full freight. I'm certain there are others.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$65,000 for Bowdoin tuition, room board, books etc...
-$1200 work study

We are savers and now it comes back to bit us in the A$$!~!~!~!~!~!~!!!!!!!!!!!!!!!

+1!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!