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College and University Discussion
Reply to "Just calculated projected college costs for my kid and almost vomited"
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[quote=Anonymous]Back when our now seventeen-year-old was that age, they told us $1,600 a month in order to be able to pay for private by the time she went to college. We had the same reaction as you, because at the time, that was more than our mortgage. We have saved enough in the 529 to pay for four years at the State College, and there will be some leftover (toward grad school?). We've had honest conversations, this past year, saying we will pay up to xx amount per year for college. Some from the 529, some from cash as our salaries have gone up in the past 15 years, but not the $70,000 per year sticker price at private full pay Tier 1 colleges. She is hoping for some merit money at her first and second choice schools, and if not she has the choice of applying for outside scholarships, or choosing a less expensive college. We will not allow her to go into crazy debt for college. Especially not undergrad.[/quote]
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