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[quote=Anonymous][quote=Anonymous][quote=Anonymous[b]]It's really not a big deal. I'm another who had zero saved for college, working class parents.[/b] I got into the school of I wanted but the FA package meant loans of $17K a year. Instead, [b]I took advantage of DC residency and chose an out of state public university[/b]. I worked through college and graduated with about 12K in loans. My work experience (and degree) landed me a nice job at a Top 10 Most Wanted Employer.

Nobody I knew expected their parents to pay for school yet all of my friends from similar backgrounds are doing very well for themselves. I didn't realize that parents who werent wealthy paid for college until I'd graduated!

Your kids don't have to work through school like I did, but I just didn't like loans. 6k of my loan balance was from my first year when I didnt work and I was turned off. My good friend opted to go community college and then UMCP. For MD and VA residents, you're very fortunate to have community colleges that feed into good public universities. Nobody cares where you started and its a lot cheaper. I'm seriously considering this option for my kid.

[b]Does anyone else think its insane that parents are expected to save for almost 20years in order to afford college?[/b] [/quote]

I'll start backwards from your post....yes, I think it's insane that parents have to save for 20 years to afford college.  And, there is NO way you'd be able to send your kid to out-of-state with DC benefit without having them rack up extreme debt.  UofM is $25K/year for DC residents, so that's 15K/year not including housing or living expenses.  Other top publics, UVA or Michigan are $50K (for everything) out of state.  So, your kid would be taking up loans up to 4-10x more than what you did.  So, to end, it's a big deal and will limit their choices (unless you luck out and fees return to earthly standards).  [/quote]

You named probably the 3 most expensive public universities for out-of-state students to prove your point? My DC isn't attending ANY school, public or private, that costs 50K a year out of pocket in today's dollars. A bachelor's degree isn't worth the $$$ considering options elsewhere and ROI today. Additionally, your figures exclude any grants or scholarships from the school. Even if DC chose to do community college (pay as you go) and 2 years at UMCP out of state, thats still a total of 50-75K (not factoring her 529 or any sort of free money from the school) vs over $200K going the route many DCUM parents are planning to go.[/quote]

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