Reply to Just calculated projected college costs for my kid and almost vomited

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[quote=Anonymous]OP, when your kids are old enough, I think you need to show them the costs of different schooling options.

I don't know what the college situation will look like in 15 years when your children are ready to go, but the situation for us right now is this:

We live in Prince George's County.   PGCC is free to our kids for two years; after which they can attend UMD in College Park or Baltimore for about $12,000 a year (commuting from home and eating at home).

So a four year degree is achieveable for our kids for $24000 or possibly less.  Total.

If we have more money, they can do all four years at UMD.  If they get scholarships, it will cost less.  If we can afford the extra cost, they can live on campus.   But bottom line is it is POSSIBLE to get a four year degree for less than $25,000 total.

Any other college situation needs to be compared with that baseline cost.  If your child isn't a good enough student to get into one of the UMDs, it might be that a college education is not the best way to spend your money right now.  If you do not live within commuting distance of a state college, that will of course affect the cost of attendance, and would make attending a local community college even more important.

If you don't live in Maryland of course do this exercise with your local state schools.  (If you live in PA I'm so sorry.)

Americans need to divorce ourselves from this idea that kids should go away to college and live four years in a dorm in a college town.  They want to do this because they want the full college-party experience.  it is totally understandable but... it has just gotten crazy out of control too expensive!  It isn't worth it; it isn't worth sacrificing your own retirement savings or putting them into years of student loan debt.

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