Anonymous wrote:My kids are young and we're saving diligently for college but I would find it fascinating to hear what people are actually paying and how they're paying it:

Could you share something like:

HHI: $200K
One child
College cost: (tuition + room and board): $38K/year
Yearly payment out of college savings: $23K
Yearly out of current income: $10K
scholarship(s) money: $5K

HHI 150k
total cost of college 25k give or take
FIL had set up a college trust fund for DD so out of income/savings for us: zero

Anonymous wrote:My kids are young and we're saving diligently for college but I would find it fascinating to hear what people are actually paying and how they're paying it:

Could you share something like:

HHI: $200K
One child
College cost: (tuition + room and board): $38K/year
Yearly payment out of college savings: $23K
Yearly out of current income: $10K
scholarship(s) money: $5K

2 kids in college
Tuition, room and board is $125,000/year
Scholarships $0
Savings $100,000
Cash $25,000

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We've got another year to go before our first starts college, but our plan:

HHI: $215k
2 kids
Total college cost: max of $32,000 at our state's priciest public (less at other in-state publics)
Out of income: $12,000
Out of savings: $15,000
Unsubsidized stafford student loan: $5,000

Just curious: why unsubsidized?

There are income limits on the subsidized Stafford loans.

Yep, instate tuition is less than the federally calculated expected financial contribution amount for our family, so we won't qualify for financial aid or subsidized loans.

DC1 is also interested in some private schools, but those are only an option if DC receives enough merit aid to bring the price close to what we'd pay in-state. We can swing a little more out of income if necessary. I don't want DC to borrow more than about $15k, total.

HHI: $142k
5 kids (3 steps - 1 in college, 1 starting next year, 1 starting in a couple of years and 2 young bios)
Total college cost for current kid in college: ~20k
$13k parent plus loan
$7k in subsidized/unsubsidized loans
Years 3 and 4 will be paid for out of 529 plan

Probably will be the same for other two steps.

2 bios already have 40k each in their 529s (thanks to generous grandparents) plus another 529 by other set of grandparents that I have no idea how much is in. God knows what college costs are going to be in 15 years.

Anonymous wrote:

Anonymous wrote:We've got another year to go before our first starts college, but our plan:

HHI: $215k
2 kids
Total college cost: max of $32,000 at our state's priciest public (less at other in-state publics)
Out of income: $12,000
Out of savings: $15,000
Unsubsidized stafford student loan: $5,000

Just curious: why unsubsidized?

There are income limits on the subsidized Stafford loans.

Anonymous wrote:We've got another year to go before our first starts college, but our plan:

HHI: $215k
2 kids
Total college cost: max of $32,000 at our state's priciest public (less at other in-state publics)
Out of income: $12,000
Out of savings: $15,000
Unsubsidized stafford student loan: $5,000

Just curious: why unsubsidized?

We've got another year to go before our first starts college, but our plan:

HHI: $215k
2 kids
Total college cost: max of $32,000 at our state's priciest public (less at other in-state publics)
Out of income: $12,000
Out of savings: $15,000
Unsubsidized stafford student loan: $5,000

HHI - $125,000
Child support - $12,000 year
Two kids both in college
Private college- $35,000 FA grant (son)
Public college- private scholarship plus DC TAG plus small merit grant from university (daughter)
I pay $10,000 per year for son out of income.
Did not use savings from grandparents. Kids will receive cars upon graduation from grands.

Anonymous wrote:

Anonymous wrote:HHI $200K
Total college cost - $48,000
Merit aid scholarship - $10,000
Outside scholarship from DH's company - $5,000
From college savings - $18,000
Out of income - $15,000

Oh, I should add my younger child who is attending an instate school next year -
Total college cost - $25,000
Scholarship from DH's company - $5,000
From college savings - $18,000
Out of income - $2,000

HHI $150k
2 kids in private college = total college cost annually $140k (tuitions and room and board)
Need-based financial aid = $60k
Tution assistance from my parent's university employer = $30k
Savings/cash on hand/borrowing on credit cards = $50k

Anonymous wrote:HHI $200K
Total college cost - $48,000
Merit aid scholarship - $10,000
Outside scholarship from DH's company - $5,000
From college savings - $18,000
Out of income - $15,000

Oh, I should add my younger child who is attending an instate school next year -
Total college cost - $25,000
Scholarship from DH's company - $5,000
From college savings - $18,000
Out of income - $2,000

HHI $200K
Total college cost - $48,000
Merit aid scholarship - $10,000
Outside scholarship from DH's company - $5,000
From college savings - $18,000
Out of income - $15,000

HHI: ~$180k
1 entering in fall, 1 two years later
Annual College cost: $40k for tuition/fees/R&B for first

We have saved a mix of 529s, prepaid tuition (which he will not be using and we will cash in two years if his brother does not go instate), ROTH IRAs and other savings. We currently put in ~$10k a year into those funds and if his brother goes in state or to a similar cost oos state school, we will have enough without having to cut our 401k contributions or other spending or getting a higher paying job.

We put enough in 529 to cover what the prepaid in state tuition does not cover (R&B essentially). The rest we have put into ROTHs and other savings.

HHI: $500K
3 kids
College Cost: $58K/year
Yearly out of current income: $38K/yr
athletic scholarship: $20/yr

My kids are young and we're saving diligently for college but I would find it fascinating to hear what people are actually paying and how they're paying it:

Could you share something like:

HHI: $200K
One child
College cost: (tuition + room and board): $38K/year
Yearly payment out of college savings: $23K
Yearly out of current income: $10K
scholarship(s) money: $5K