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

Forum Index » College and University Discussion

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]She's 3. I used the Vanguard calculator and it came out with the following projected tuition costs:

Public in state: $196,681
Public out of state: $343,454
Less expensive private: $446,837
More expensive private (so the ones that now cost around $60K/year): $539,392

We make a good living and have one kid, but how the hell are we supposed to be able to afford these tuition costs?! To get to the public in-state option, and assuming no appreciation from investment options, we'd have to put away roughly $1100/month starting now. Well, we pay for preschool and have a mortgage, so that isn't happening at all easily. Saving for the most expensive private universities would require putting away $3000/month starting now.

Someone tell me how the hell people do this.

[/quote]

I was like you when I was starting out with a new-born daughter. Then everything turned upside down after a divorce. I had no savings to speak of. I had to stop my retirement contribution, even if that meant losing out on a 5% employer contribution. Long story short is I am now sending my daughter to an Ivy League. Most of my daughter’s life, I was too overwhelmed by bills to even plan college savings. Things worked out. [/quote]

I know this is an aside...but why do women leave themselves as vulnerable as this poster did??? Roughly half of marriages end in divorce. People need to stop believing in Donna Reed and plan for all contingencies. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics