Anonymous wrote:

Anonymous wrote:Freshman in-state at William and Mary - no financial aid - first semester payment (tuition + housing + meal plan) was just over $15,000.

That tuition is supposed to be locked in now, right?

Yes, they've promised that tuition will stay the same for all 4 years. However, that doesn't stop the weekly phone calls asking us to contribute to various fundraising efforts.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Total cost at her OOS Catholic college- $48,000
minus merit aid - $14000
Paying $34K out of pocket.

She probably could have gotten into some "higher ranked" schools but we knew we absolutely could not do 50/60K or more a year so we focused our efforts on schools that gave merit aid. And state schools, but she didn't really like any of VA's options except William and Mary which she was rejected from.

As a Maryland parent, it kills me when I hear Virginia students say they just don't like the Virginia colleges. I wish we had in-state choices like yours. That said, I know it must kill you, too!

Let's switch. My DC wants to major in physics. MD beats Va hands down for this major.

I have a friend who is a physicist. He went to Va Tech for undergrad, majoring in physics and math. Then Harvard for doctorate in physics. Now well employed as research physicist at a national lab. Your DC will be perfectly fine at a VA state school for undergrad in physics, and then the PhD will be funded.

How many others have there been?

Anonymous wrote:

Anonymous wrote:I'm a teacher who currently makes around $60K but my DD is 10 yrs old right now. I'm wondering how I'll ever afford even a state school. In the next few years, I can start saving maybe $100/month for college but that's it. The fact that some of you pay more than I gross in a year for college makes me wonder what to do. I know there are a lot of schools that would give a lot of FA but what if my DD doesn't get into them? I am not against student loans because I had them myself but if she doesn't get into the schools with who give out lots of FA, what is left to do?

The teacher parents I know supplement their income by tutoring during the school year and teaching or doing something else in the summer. If your ex is sporatic about child support put whatever he sends into the college savings account to supplement what you are saving.

I tutor in the summer too but it isn't as much as tutors probably make in the DC area. I use that money to pay the bills when my ex doesn't pay. I wish I had the extra money to save right now but I will hopefully when I get my next raise in another year or two. In the next few years my child will be old enough to leave home alone so I can get a summer job.

I hope the ROI is in line with the cost.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Total cost at her OOS Catholic college- $48,000
minus merit aid - $14000
Paying $34K out of pocket.

She probably could have gotten into some "higher ranked" schools but we knew we absolutely could not do 50/60K or more a year so we focused our efforts on schools that gave merit aid. And state schools, but she didn't really like any of VA's options except William and Mary which she was rejected from.

As a Maryland parent, it kills me when I hear Virginia students say they just don't like the Virginia colleges. I wish we had in-state choices like yours. That said, I know it must kill you, too!

Let's switch. My DC wants to major in physics. MD beats Va hands down for this major.

I have a friend who is a physicist. He went to Va Tech for undergrad, majoring in physics and math. Then Harvard for doctorate in physics. Now well employed as research physicist at a national lab. Your DC will be perfectly fine at a VA state school for undergrad in physics, and then the PhD will be funded.

Anonymous wrote:I'm a teacher who currently makes around $60K but my DD is 10 yrs old right now. I'm wondering how I'll ever afford even a state school. In the next few years, I can start saving maybe $100/month for college but that's it. The fact that some of you pay more than I gross in a year for college makes me wonder what to do. I know there are a lot of schools that would give a lot of FA but what if my DD doesn't get into them? I am not against student loans because I had them myself but if she doesn't get into the schools with who give out lots of FA, what is left to do?

The teacher parents I know supplement their income by tutoring during the school year and teaching or doing something else in the summer. If your ex is sporatic about child support put whatever he sends into the college savings account to supplement what you are saving.

It's scandalous what's happened to tuition, but people shouldn't be surprised because this is the way it's been heading for years. This is what income inequality looks like. Did you know there are actually a lot of people out there who really can write a check for $65k without batting an eye? Many of them in this area have been writing checks for $35k for 13 years for private school already. And if universities run out of these full-pay parents, they can and do import the wealthiest kids from China to fill the rest of the spots. The world has changed, and our kids probably won't go to the caliber of schools that we went to, because it's so much more expensive now and, paradoxically, much more challenging to get in now as well.

Private. We paid $0.

Anonymous wrote:Thanks PP. my income is the only one. I am supposed to get appr. $4000/yr in child support but I can't count on it. My income will go up appr. $1500/Yyr gross so I'll look into the MD pre payment plan.

I was going to suggest you look at the MD prepaid. Look at the two year community/two year university plans and also the extended payment options. I don't know that you can find a plan for $100 a month, but once you see the numbers, you might be able to find a way to make it work for you family.

Thanks PP. my income is the only one. I am supposed to get appr. $4000/yr in child support but I can't count on it. My income will go up appr. $1500/Yyr gross so I'll look into the MD pre payment plan.

Anonymous wrote:I'm a teacher who currently makes around $60K but my DD is 10 yrs old right now. I'm wondering how I'll ever afford even a state school. In the next few years, I can start saving maybe $100/month for college but that's it. The fact that some of you pay more than I gross in a year for college makes me wonder what to do. I know there are a lot of schools that would give a lot of FA but what if my DD doesn't get into them? I am not against student loans because I had them myself but if she doesn't get into the schools with who give out lots of FA, what is left to do?

Keep saving what you can and I assume your pay will go up over the next 7-8 years, too. But I think you'll probably get a decent amount of aid. You are a single parent? Or that's the only income?

I heard a financial program once that said you should think of it in 1/3s. Save a third, pay a third as you go, and borrow a third. That might be a more manageable way to look at it.

The other option is to look at the prepaid plans for the 529s. That locks in today's tuition costs. Maryland offers a lot of variety there. Not sure about other states. Pay two years of community college, or two years of a four year college, or the whole thing.

Anonymous wrote:

Anonymous wrote:$62K.

Nice to see we're not the only ones. Cheers.

Me too. DD goes to school start with letter S in CA and it 's $65K per year.

I'm a teacher who currently makes around $60K but my DD is 10 yrs old right now. I'm wondering how I'll ever afford even a state school. In the next few years, I can start saving maybe $100/month for college but that's it. The fact that some of you pay more than I gross in a year for college makes me wonder what to do. I know there are a lot of schools that would give a lot of FA but what if my DD doesn't get into them? I am not against student loans because I had them myself but if she doesn't get into the schools with who give out lots of FA, what is left to do?