My child is in the upper midwest. Price is a bit cheaper than UVA after merit aid (no financial aid).

After flights, storage, and visits, it is a few thousand more a year.

How accurate are the EFC calculators?

DS1 Private 38k/yr 5 years, DD1 Private 46k/yr 4 years, DS2 Private 49k/yr starts in the fall.

We are in DC so we pay OOS. Since DC TAG has an income limit now we don't qualify. We have two in college and two in Catholic high school. We also moved to this area about 5 years ago when we had a huge jump in income. Before that in flyover country I thought we were doing fine plugging along and saving a bit into 529s. Each kid has about 50k in their 529s. We are considered high earners though we don't own a home and have multiple kids in college. Right now I have DC#1 where we are paying 26k at a OOS flaghsip school, about 1/2 price due to merit-- 5k out of 529 then rest from salary. DC#2 is at private which gave 20k in merit which still puts us around 48k -- ouch. Which we have taken 10k/year out of 529 then pay rest from salary. Both kids work summers and the one in private does work-study to knock off a bit more.

We will have at least 2 in college and 1 or 2 in private high school for the next few years. Lean living over here but completely manageable.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:For most UMC families state colleges are the way to go.

+1. That's what we did.

That is what I am thinking. The only issue is the one everyone wants to go to is sooooo tough to get in. So I feel like there aren't too many in the middle!

We have enough in 529s, savings, and current income to cover 3 kids (2 overlapping at a time) at $70k per year. It would be tight, and vacations would stop. Doesn't mean we are going to though - the value has to be there. State school is our baseline - $25k/year. Any out of state or private has to offer something substantial (top 10, special program) to be considered.

With kid #1, we found that several other state schools offered enough merit aid to bring costs closer to state costs and to be worth considering. For example, Purdue offered $15k, to bring costs around $35k. A private offered $5k one year only - 1st year $70k, then $75+ after that? Nope. Kid #1 is at a great fit state school.

Going in kid #2 knew the criteria, and applied accordingly. There's a possibility we'll be paying $70k for this one, or it might be full ride to state school and $towards grad school. We'll know in a couple months.

Kid #3 is likely state school.

Just because you CAN pay top dollar doesn't mean you should.

Anonymous wrote:UMC with investments in non-liquid NQ assets. We did not apply for financial aide. Offered merit at lower ranked schools but accepted at a high ranked school which has faculty and career counseling advantages for DC's academic strength. Paid full freight of about $80k/year including travel costs, abroad programs, internship lodging expenses and EC donations. While the internships were well compensated, it wasn't enough to make a dent; instead, we elected that DC retain "his" monies. Goal being to obtain early decision making experience with personal financial management Way back when, we thought we had put aside enough for both college and grad school. The forecast when we started was a max of $50k/year. It all worked out though because it provided the luxury of having room to pivot.

I find it difficult to understand parts of this post I think the poster is saying that although their child got offered merit at a lower ranked school they decided to send their DC to a school that was more expensive ($80K) but a better fit. I don't understand the parts I have bolded.

Anonymous wrote:

Anonymous wrote:For most UMC families state colleges are the way to go.

+1. That's what we did.

That is what I am thinking. The only issue is the one everyone wants to go to is sooooo tough to get in. So I feel like there aren't too many in the middle!