Is It Really Gonna Cost $280K? OMG

[Anonymous]

DD got in to Northwestern and she is over the moon.

If we continue to save $1K a month, we should only be $35K short for the 4 years of tuition.

Still it's SO MUCH $! Am I the only one that feels this way? My DD has brought it up more than once to me. I tend to be okay about money issues. Just want to make sure I am not missing anything.

TIA

[Anonymous]

Mom of a grad school student. Have you added in incedentals? Travel home for the holidays? Rent after the first year off campus? Sorority dues? Extra money for ice cream, beer, laundry and a moped? I am being snarky but The extras add up. Add in another 5k a semester for the goodmeal plan, spring break trips etc.

[Anonymous]

I'd budget a little more than that. Tuition will go up each year. Plus you've got air travel to Chicago - it's a pretty cheap place to fly but still an expense. My DC just graduated from a similar school and I think we spent $280k over 4 years - it seemed like it was up to $72k last year, but some of that was expensive off campus housing.

Not sure what you mean by what are you missing.

[Anonymous]

Can you figure out what she costs you at home? That could cover some of this other stuff, maybe.

[Anonymous]

Anonymous wrote:Mom of a grad school student. Have you added in incedentals? Travel home for the holidays? Rent after the first year off campus? Sorority dues? Extra money for ice cream, beer, laundry and a moped? I am being snarky but The extras add up. Add in another 5k a semester for the goodmeal plan, spring break trips etc.

Spring break trips...? Tell the kid to get a j-o-b.

[Anonymous]

Anonymous wrote:I'd budget a little more than that. Tuition will go up each year. Plus you've got air travel to Chicago - it's a pretty cheap place to fly but still an expense. My DC just graduated from a similar school and I think we spent $280k over 4 years - it seemed like it was up to $72k last year, but some of that was expensive off campus housing.

Not sure what you mean by what are you missing.

LOL. Over $280k. There’s a sucker born every day!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'd budget a little more than that. Tuition will go up each year. Plus you've got air travel to Chicago - it's a pretty cheap place to fly but still an expense. My DC just graduated from a similar school and I think we spent $280k over 4 years - it seemed like it was up to $72k last year, but some of that was expensive off campus housing.

Not sure what you mean by what are you missing.

LOL. Over $280k. There’s a sucker born every day!

There sure is. 280k for a Northwestern degree? No thanks.

[Anonymous]

I went to Northwestern and have a hs junior. When we were in the area we went to an info session there. I could not believe the tuition! I loved my time there but I do not believe it or any college is worth that tuition.

[Anonymous]

It is interesting that with every other major expense in life you’d research, evaluate, bargain-shop, etc. But when it comes to college, people like OP just let their kid put “4 yrs private college” in the cart and move on to checkout. It’s a choice and it should not break you. It’s okay to say, yes, I know you love those 4 BMW’s or Northeastern or whatever, but we’re not prepared to spend that much money.

[Anonymous]

Anonymous wrote:I went to Northwestern and have a hs junior. When we were in the area we went to an info session there. I could not believe the tuition! I loved my time there but I do not believe it or any college is worth that tuition.

I agree. I know several Northwestern grads. Not worth the money.

[Anonymous]

Only the rich and the stupid pay full sticker price for a private.

[Anonymous]

Anonymous wrote:Only the rich and the stupid pay full sticker price for a private.

Often, these are one and the same.

[Anonymous]

Other incidentals to consider: science books can cost $300 each, and science "lab supplies" are $100 per class per quarter. And some classes have field trip expenses.

It does cost even more than the sticker price, believe me.

[Anonymous]

How many here drive expensive cars? Such stupid purchases.

[Anonymous]

I assume you will have our child take out the maximum $5500 in loans to contribute.

Also child needs to get a job to cover all her incidentals -- and travel cost to Chicago and home. If she has one now perhaps she can increase her hours now and over the summer. There are also lots of places to work in and around Evanston.

Northwestern's calendar is different than most schools, giving her a chance to work later in the summer than most people.