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The older one got into three Ivies on full ride and few other top engineering schools in a country with full scholarships. The same plan is for my MS kid.

Anonymous wrote:I'm in CA and there was a new law that caps out of state %s at the UCs now. I think it is pretty much back to being equally hard to get in OOS vs in state. But it is really hard to get in to a UC (except the new one) so you can't count a UC as a given at all. My dcs will hopefully end up going to state schools in other states that are either part of the western state exchange or that give a lot of merit aid for high achievers. We really want them to get in and out of college in 4 yrs and that is also very difficult at UCs.

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The older one got into three Ivies on full ride and few other top engineering schools in a country with full scholarships. The same plan is for my MS kid.

The Ivies don’t give “full rides” only financial aid based on income so if you currently make 150k or less and your kid gets into Harvard, you will get 100% aid and will not have to pay.

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The older one got into three Ivies on full ride and few other top engineering schools in a country with full scholarships. The same plan is for my MS kid.

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Anonymous wrote:We have 20,000 so far and I know we are very behind. How much do you have and what is your strategy?

As a point of reference for you:

My DD is OOS, at a state school. She is finishing up her sophomore year. We started out with $80K, she has $14K left in her 529. As you can see, not nearly enough to get her through even one more semester.

Would the $80K have been enough to go to an in state public college?

Yes, but not by much. We're in California where in-state tuition is high AND where schools tend to give preferential treatment to OOS/OOC students - so she would have likely had to go OOS or go to a lower-tier public than where she is currently.

NP. I’m in California too, that’s such a bummer to hear. I know the UC’s are competitive to get into, but I actually thought only UCLA and UCB have a significant percentage of OOS students. I hate that they’ve gotten so expensive

California PP here. I'm a native Washingtonian, have only been in CA for 6 years. Because of how ridiculously competitive it is to get into pretty much any UC school, it is very common to see many HS grads go straight into community college and then matriculate from there into their 4yr UC of choice. I know that in the DC area going to CC is considered a "scarlet letter" - but out here it is not at all seen that way.

This Forbes article is a good example of what I'm talking about:

https://www.forbes.com/sites/kristenmoon/2018/11/15/uc-admissions-why-being-an-out-of-state-student-might-just-work-in-your-favor/#2f5ee17527bd

People on DCUM won't admit it, but this is becoming an increasingly popular path in this area as well.

BTDT. We moved in 2007 and ended up losing so much money on the house we sold in the recession. Then, I had medical issues and was unable to work for a few years. Result: we went into MS with no college savings. If your kid is in MS, it is not to late to start.

Kids are now 9th and 11th. They will each graduate with 4 years of VA prepaid 529. Worth about 70k if they don’t go instate. Starting there was the best thing I did. Started with older DC in 7th, and then a year later added DC2 in 6th. It looks like oldest DCs first choice is WM— and he has the stats to get in (hopefully). So that would be another windfall, because prepaid 529 covers tuition at any VA college, and WM is 10-15k a year more than other state schools.

My kids inherited $25k each from my grandmother last year, and that is obviously a windfall (I did not know they were in her will). And we will save about $20k per kid in cash in an INVEST Account on top of that before they start college. We started contributing to DC1 the year after starting Dc 2’s prepaid account. And DC2 just this year. So, we have pumped up the savings each year. That will cover in state tuition and about 3 years of room and board. We can cover the last year of room and board in cash. And will try to keep saving so that their inheritance stays intact.

And I can sleep at night, because no matter what happens with my health, the economy, college prices, etc., the kids can get a good instate college education with no debt as a worst case scenario. Since we were at zero 5 years ago, I’ll take it.

If the don’t go in state, they will have $110k-120k saved. We are currently chunking $3200 a month into the 529s. We plan to continue to contribute through college. So, we have told the oldest he would need to bring private or OOS public down to $40k a year, tuition and RB, using merit money. The youngest will probably be $45k because of increases in tuition. We are donut hole, so this means that they can’t apply to Ivy schools or NESCA schools with no merit aid. But he has some good options with midwestern SLACs where his stats are above 75%, plus WM plus VT science as a safety.

Younger kid is looking like she will head to a big engineering school— but it’s early. So, VT and OOS Public’s. We should be close, especially if she gets any merit money at all.

Now, we were able to free up the $3200 a month because I was able to go back to work the year before we started saving. Paid of credit cards, then turned to college. And about 60% of my take home right now goes to kids college. I realize that’s not everyone. But still, it’s not too late to start. And Prepaid 529 can be a good place to start. And it is open enrollment season for prepaid right now.

This is the anxious poster. Thanks for responding with this. Even though I know I won’t save a ton, hopefully I can’t get something in savings between now and then.