College Tuition prices

[HoneyBBQ]

I went to a state U in the late 90's... My tuition was $1600 a year + fees.

The university where I currently work (faculty) charges a mind boggling $40000 a year for undergraduate tuition. Now, I know times have changed and I do work at a private university... but SERIOUSLY?

I don't have any children (yet, working on it) but it seems unfathomable to me to save $200,000+ in a 529 for each child. So strange. I make good money but DAMN that's a lot of money!

I'll make my kid go to a state school like me, I guess.

I personally am in favor of funding a child's 4 years of education if it is possible for the parents. Of course scholarships help, but... jeez! most families barely make 40k a year!

[Abby Normal]

Private universities have always been expensive. I looked into one about 20 years ago and it was 17K/year then. I can't imagine how high it is now. I chose to go to a state school instead.

I'm saving for my kids college. They'll have to settle for a state school or get a scholarship.

[whoisjohngalt]

First - good luck on the baby making thing!!

Second - does anyone else remember the movie Love Story - a rich guy marries a poor girl and gets cut off from his parents. So, she works as a music teacher to pay for him to attend Harvards Law School.

Always makes me think of that when tuition conversations come up

Lena

[zibazinski]

50K a year was DF's DD's college tuition and that didn't include everything.

[Deleted]

Don't you get free tuition for kids by working there?

[Poppet]

It's overpriced. Shop elsewhere.

[lynnerself]

My DD went where it was about $30,000. However private schools give a significant amount of sholarship money. We ended up paying about the same that we would have at the State University.

[NomoreDramaQ1015]

However private schools give a significant amount of sholarship money. We ended up paying about the same that we would have at the State University

Same here. I got a lot more aid that I would not have to pay back than I did for the state universities, they mainly offered loans. Ended up being about the same out of pocket.

DH insists I keep working at the university I am at till DD is old enough for college. She can go 100% free if she goes part time.

I can do graduate school 100% for free which is what I am looking into.

Then DH could get his bachelor's at 50% off as long as he meets the credit requirements to be a part time student.

[steph08]

Jan 21, 2011 14:07:33 GMT -5 lynnerself said:

My DD went where it was about $30,000. However private schools give a significant amount of sholarship money. We ended up paying about the same that we would have at the State University.

Exactly. My private college was about $35k a year for tuition, room and board but we didn't pay anything close to that. As soon as I got accepted, I automatically (because of grades, SAT scores, etc.) got a huge scholarship for more than half of the cost, plus a lot more grants. It ended up costing about the same as if I had gone to the local state school (7k a year) since there are a lot less scholarships there.

[thyme4change]

I'd be interested to see how many people actually pay full price for a private college. I suspect the number is 2-digits.

[Savoir Faire-Demogague in NJ]

I'd be interested to see how many people actually pay full price for a private college. I suspect the number is 2-digits.

Other than a partial athletic scholarship, a small annual amount from the college based on some test scores, and a miscellaneous small scholarship, I paid full price to the private school I went to.
I also had tuition reimbursment from an employer.

[dragonfly7]

I applied to three public schools and two private ones, and the private one I eventually chose was the second least expensive after factoring in scholarships, and definitely cost very little after applying my loans to the room and board. (The sheer number of people at the least expensive public school, 17,000 vs the 750 at the private college, was too overwhelming for me)

[lynnerself]

It was my son's out of state public school that was expensive. Even with a 3.99 GPA and 800 SAT no scholarships for out of state students.
(The degree he wanted was not available in state)

[HoneyBBQ]

"Don't you get free tuition for kids by working there?"

After 7 years of service, yes.

[souldoubt]

I went to a state school for almost 3 years. Between my first and last semester the cost for just tuition more than doubled. I've seen recent reports of what Cal State's cost right now and the price has shot up even more.

[thyme4change]

no scholarships for out of state students.

I am okay with this. As long as public universities are funded with resident's tax dollars, I want the bulk of their scholarship money to go to in-state students.

[973beachbum]

Even with a 3.99 GPA and 800 SAT

How is an 800 on the SAT good?

The worst part to these discussions is that the prices that everyone complains about being so high at the schools, look like bargains to me, considering the prices by me.

[Cookies Galore]

Jan 21, 2011 14:31:49 GMT -5 Savoir Faire-Demogague in NJ said:

I'd be interested to see how many people actually pay full price for a private college. I suspect the number is 2-digits.

Other than a partial athletic scholarship, a small annual amount from the college based on some test scores, and a miscellaneous small scholarship, I paid full price to the private school I went to.
I also had tuition reimbursment from an employer.

If you got scholarships and other aid, how did you pay full price?

[lynnerself]

(How is an 800 on the SAT good? )

Sorry 800 on the math, 750 or something on the other.

[Savoir Faire-Demogague in NJ]

If you got scholarships and other aid, how did you pay full price?

Athletic scholarship was for two years only, and roughly 1/4 of tuition. Was also paying room and board dorm fees, books, etc. Other scholarship moneys were like $300 per year. Remember, this was mid 70s.

[Gardening Grandma]

I'd be interested to see how many people actually pay full price for a private college. I suspect the number is 2-digits.

While I got my bachelor's at a state school, I got a master's at a private school. Although I paid full tuition, my employer reimbursed me in full (tuition and books). That was probably the sweetest benefit I've ever had.

[thyme4change]

Even if they discounted your tuition by $10 - you still weren't paying full price.

[alabamagal]

All tuition has gone up at a rate WAY greater than inflation. Same for room and board. When I applied for college 25 years ago, tuition at 2 of the prestigious private colleges that I applied to were $5000 per year, room ~$1000. Now I know inflation basically doubled prices in that time, but now those colleges are in the $50,000 range. I got some scholarships to help with tuition, but the prices were somewhat affordable for middle class parents. I then transferred to out of state state technical institute (one of the most prestigious in the nation) and had to pay more. In the end, it was worth it. But at today's prices, the costs are out of reach, and many students take out loans to go there.

DD applied to some expensive private schools, got a lot of grant money and then loans to cover tuition. Instead she chose to go to out of state college (nearby) that gave her full tuition scholarship. She has some loans to help pay for room and board, but not nearly as much as she would have had at private college. DS1 gets full tuition at in state school. DS2 starts in another 2 years, definitely staying in state.

[lynnerself]

Yes, the only issue with DDs scholarship is that is was locked at an annual amount each year for 4 years. While the tuition continued to rise.

[Savoir Faire-Demogague in NJ]

Even if they discounted your tuition by $10 - you still weren't paying full price.

Good gawd. The posters here as are rigid as they were in MSN Money. I paid for 90+% of the cost myself.

[thyme4change]

ROFL!

Okay - I was kidding. But you listed off 3 or 4 different reductions and then said you paid full price - so your statement was pretty funny.

[973beachbum]

Jan 21, 2011 15:32:10 GMT -5 lynnerself said:

(How is an 800 on the SAT good? )

Sorry 800 on the math, 750 or something on the other.

Now that is a good score!

[Savoir Faire-Demogague in NJ]

Okay - I was kidding. But you listed off 3 or 4 different reductions and then said you paid full price - so your statement was pretty funny.

[Deleted]

Sorry 800 on the math, 750 or something on the other.

Your child was a National Merit finalist (or at least semi-finalist) and got no scholarships? Did he go to Harvard or Princeton or one of those schools that are simply financial need based?

These are qualifying scores so actually I'm thinking you don't really know what the scores were and are merely guessing because you know they are "high." My son made 1400 (700 on both) and was a National Merit finalist. I know that some states are more competitive, but 1550/1600 has to qualify you.

And, yes, I know it's based on PSAT scores and not SAT scores. So there is the slight possibility your child didn't take the PSAT. But I would wonder why.

[Angel!]

I just looked it up & the university I went to currently charges $7k/yr. I honestly don't really know how much I paid for tuition 10 yrs ago, probably half that amount.

I would be willing to be, with very few exceptions, a $7K/yr school will get you just as far as a $40K/yr school. I know in certain fields the school matters a lot, but in most fields it really doesn't.

I was a national merit finalist & got a very small scholarship to the school I attended. I got offered a full-ride to a school I never even applied to, but it was a very tiny school & did not offer any degree programs I was interested in, so I declined.