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College and University Discussion
Reply to "How do middle class families pay for private colleges?"
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[quote=Anonymous]Define "middle class." We are definitely not "middle class" with a HHI of $220K. OTOH, we do not qualify for need-based aid. We send our DC to a private small liberal arts college out of state. DC was admitted to our state university, but it is really too large to meet DC's needs, so we looked at other options. We pay $38,000/year for tuition, room and board after his merit scholarship of $26,000/year is applied. We have saved for this since DC was a baby and have enough to cover all four years at that price plus increases. Our college savings are in dedicated accounts and we do not need them for any other purpose. We will do the same for DC#2. We do not plan to pay for their graduate or professional school, but if anything is left over, we will divide it between them.[/quote]
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