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re: Cost of college projections are scary
Posted on 5/7/14 at 1:04 pm to VABuckeye
Posted on 5/7/14 at 1:04 pm to VABuckeye
quote:
You can't just say that "board" is $635 and use 529 funds to pay for it.
Do you have experience with this? I've seen some things described as equivalent costs to on-campus housing, but have always thought it would be pretty easy to document. Is this not the case in reality?
Thanks for the info, BTW.
3
Posted on 5/7/14 at 7:41 pm to Sigma
I guess I got lucky . We have charter and magnet schools through high school . Both of my kids went to LSU Alexandria and cost was about $ 5500 per semester for both .
Posted on 5/7/14 at 8:35 pm to Sigma
If the rent is the same or less than on campus housing you can use the 529 money for it. Anything above is on you. Paying utilities, Internet, satellite and food money mom and dad would provide is a decidedly gray area and probably not acceptable.
That was my experience in Virginia.
That was my experience in Virginia.
Posted on 5/7/14 at 9:33 pm to Sigma
I have one child, 19m old, and may plan to have a couple more.
The wife and I will have set aside 250K for each one of them. Our plan is to say, this is all you get. The rest is up to you.
The wife and I will have set aside 250K for each one of them. Our plan is to say, this is all you get. The rest is up to you.
Posted on 5/7/14 at 11:56 pm to Sigma
quote:
Do you have experience with this? I've seen some things described as equivalent costs to on-campus housing, but have always thought it would be pretty easy to document. Is this not the case in reality?
Thanks for the info, BTW.
I have zero experience, but I would assume that it works by what the university assesses.
I think they are required to give on campus and off campus room and board estimated expenses per semester.
You are allowed to take out UP to that much, regardless of how much your son actually uses.
For example, this is LSU's cost assessment for 2013-2014, and it serves as your limits/assumptions for a lot of aid:
LINK
Posted on 5/8/14 at 10:19 am to Sigma
This thread inspired me to open a 529 for my son and soon to be born daughter.
Posted on 5/8/14 at 3:24 pm to TheFolker
quote:
This thread inspired me to open a 529 for my son and soon to be born daughter.
Posted on 5/8/14 at 3:41 pm to YipSkiddlyDooo
Daughter is only 16 months old....have plenty in savings to cover. I was thinking the other day though....in 18 years will college be the way it is today?? Will the majority of it be online?
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