College

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College

Unread postby Chasbo » Wed Dec 20, 2017 11:34 am

I'm preparing to send my oldest son to college.

What a complete scam. Just about $300k for a private college. There are various grants but those disappear if you make over 100k. Even state college will be over 100k.

Ive saved up quite a bit for the boy in a 529. But this is really mind blowing. How do people afford it?
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Re: College

Unread postby TJinCA » Wed Dec 20, 2017 11:48 am

Particularly if you're considering a private school, start working with their financial aid people. It might also be worthwhile to talk to a financial advisor who specializes in college financial aid.

A friend of mine did both of those things and wound up getting her daughter into a private school that, even though tuition was more expensive, wound up netting out after financial aid at a cost that was competitive with (possibly better than) a state school.
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Re: College

Unread postby ib536 » Wed Dec 20, 2017 2:34 pm

How do people afford it?

My D started college this Fall... So I've been thru the discussion of which schools to go to. She initially wanted to attend a well-known Big 12 university, but that was going to be $6700 (12 hrs - tuition & fees) per semester. Even the extension school (from same Big 12 university and my alma mater), which is less than a mile from my house, was going to be $4000 per semester. And that doesn't include books. (I know...some of you guys are commenting on how cheap that is!)

Luckily, our city has a lot of major universities and also a lot of community college campuses that feed into the universities. All of their classes are designed to be transferable to major universities. That's they're selling point for attending.

The CC campuses are also very affordable. So, D's Fall semester (3-A's & 1-B: 12hrs) was only $1000: tuition, fees, & books!
She was able to even pay for it outright, so no student debt yet!!! Her campus also has a program that if you're a full-time student for Fall/Spring, then they pick up the tuition cost for up to 6 hrs in the Summer semesters if you want. Bonus!

The plan is for her to attend for 2 years to get her basic, General Requirement classes done at the CC campus, then transfer to a bigger university to finish her degree. This will save her a minimum of $12,000+ in tuition alone. And since she isn't going into a highly specialized career field (ie: law, engineering, medical, etc.), she still has some less expensive school options.

Although, she is now dead-set on a school away from home! Minimum 2 hr drive, she says! :lol:

There are ways to minimize the total cost. Looking at a community college to cover the basic classes can be a very inexpensive way to go to school. And if the degree path is not known yet, this can make even more sense.

A lot of kids have this idea they have to attend all 4 years at the same school or you won't be a true alumni. BS! It's all about the name stamped on that piece of paper at the end of it all. Attend the big school for the last year if they have to have the school name on the diploma.

You might even consider out of state schools. Some out of state tuition costs can be a lot cheaper than those "prestige schools" and the degrees are essentially the same.
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Re: College

Unread postby massdad1234 » Wed Dec 20, 2017 4:26 pm

community college for core courses, transfer to a more prestigious campus if needed for major. If you think tution is a heist, wait until you are shedding out $1K every semester for books alone.

Unless going into finance/wall street, ivy league is no longer the only place to go.
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Re: College

Unread postby BartSimpson » Wed Dec 20, 2017 5:28 pm

If college were about education, the internet has replaced it - but it is no longer about education, it’s about credentials.

If my son were entering college, I would be painfully aware of what a hostile environment it is for him now and counsel him appropriately. ‘Cause, you know, 1 in 5 and all that.
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Re: College

Unread postby ib536 » Wed Dec 20, 2017 5:48 pm

We found out something this Fall that they didn't have back in my days of college: books for rent!

"Yes, you too can rent your college text books for the low, low price of $......"

Just make sure you send them back by the stated semester end date, or you pay a hefty price tag and the book is yours to keep!

IMHO, with regard to degrees, the paper is nice but only good for hanging on your office wall. Based on my experience in Construction, it's who you know (not the school you went to) that gets your foot in the door to talk to a company about a job. After that, it's all about selling yourself to seal the deal. I imagine quite a lot of jobs are the same way.
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Re: College

Unread postby a dad » Wed Dec 20, 2017 8:55 pm

King Midas, you may not qualify or you may not like the school options but you should be aware that your state is the first in offering free 4yr college tuition.
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Re: College

Unread postby Campfire » Wed Dec 20, 2017 10:15 pm

Chasbo wrote:I'm preparing to send my oldest son to college.

What a complete scam. Just about $300k for a private college. There are various grants but those disappear if you make over 100k. Even state college will be over 100k.

Ive saved up quite a bit for the boy in a 529. But this is really mind blowing. How do people afford it?



I worked full time as did my Ex. She graduated from state school debt free. I graduated from a private school with significant debt.

However, I'm not sold on higher education. I know too many folks (myself included) who did not need college to do their job. It's amazing how much money you can make once you learn a trade or provide a service for "unpleasant" tasks. I know a guy in Houston making major six figures running a dog poop business. He started by himself and now he just writes checks. One of my coworkers runs a mailbox installation business. Yeah, right?? Mailboxes? He does it part time and makes $60k a year in Cleveland on his side hustle.

Sorry, college isn't what it's made out to be by society. Too many kids go because they're "supposed to".

If the kid isn't getting scholarships, too bad, so sad. Go to community college and then state school. Better yet, learn a valuable skill while getting paid for it (apprenticeship).
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Re: College

Unread postby ib536 » Thu Dec 21, 2017 8:50 am

Campfire, you make a really great point (that I forgot) about Trade Schools & apprenticeships. The guy that came to fix my A/C at the thouse told me that he quit his office job and went looking for a "more permanent job not affected by lay-offs." So he became an HVAC technician.

I've heard it time & time again. Careers that will always be looking for people: Electrician, Plumber, HVAC Tech, and truck driver. Don't need a 4yr, $100k+ education for those.

And starting pay for a truck driver these days? $50k-$70k if you work as a company driver. Own your own truck? $100k+

And if you decide to make a 180* in your career choices like I did a few years back, due to layoffs, you can always try your hand working in the oilfields. I did for 5 yrs. Made a crap-pile of money and paid a lot of bills. Worked my butt off though; 90+ hrs/week - all overtime! But I made 6-figures damn every year! (that was almost a $45k/yr increase over my last job) I know guys that barely finished high school...pulling in over $120k/yr.
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Re: College

Unread postby massdad1234 » Thu Dec 21, 2017 1:29 pm

meh, I am an adult learner and loved every second of it. Yeah it was hard working full time and going to school, but I loved the academic environment and embracing the eternal student mindset, jack of all trades master of none. I also took it as an opportunity to come in contact with the future workforce. I find the differences in leading across generations interesting.

BUT, I paid for my college with the GI Bill, so debt wasn't an issue. Between GI bill and my school, tuition was covered 100%.
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