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How do folks afford private college?
Posted on 9/15/18 at 1:28 pm
Posted on 9/15/18 at 1:28 pm
So I was watching College Gameday this morning (it was at TCU) and googled cost of attendance. It's $60K/year ($48K in tuition), that's $240K over 4 years. My wife and I both do reasonably well and pretty conservative financially. We have a 2 year old and 3 month old and started 529's soon after they were born and have contributed $4800 each year (the max for state tax deduction). If we did that every year for the next 18 and it compounds at 7% you come up with about $200K, so well short of $240K and college will only go up. Our parents paid for our college (state school) and I intend to do the same for my kids, SO for kids that go to private university are their parents THAT loaded, received large scholarships, come out with a ton of debt?
9
Posted on 9/15/18 at 1:29 pm to bgbam07
Schollys. I know more than a dozen people that went either there or SMU and none of them paid close to full price.
It's still expensive but not even close to 250k
It's still expensive but not even close to 250k
Posted on 9/15/18 at 2:25 pm to bgbam07
my sister is at TCU. she got scholarships, but it's still stupid expensive
Posted on 9/15/18 at 2:30 pm to Carson123987
Pics?
Posted on 9/15/18 at 2:34 pm to bgbam07
Almost no one pays the full price.
The only full pays are rich parents with dumb students (relative to the averages at that school) that would otherwise never get into the school.
Generally, private schools let “full pays” in during the early rounds and tell them they won’t get in otherwise.
The only full pays are rich parents with dumb students (relative to the averages at that school) that would otherwise never get into the school.
Generally, private schools let “full pays” in during the early rounds and tell them they won’t get in otherwise.
This post was edited on 9/15/18 at 2:39 pm
Posted on 9/15/18 at 7:49 pm to bgbam07
I work with several TCU & SMU grads. Every one of them grew up very wealthy.
Posted on 9/15/18 at 8:00 pm to bgbam07
One of the following scenarios usually
1) Large scholarships
2) Decent scholarships with parents that can make up the difference (even though it is still expensive
3) Well to do parents that can pay full price
4) Tons of student debt
1) Large scholarships
2) Decent scholarships with parents that can make up the difference (even though it is still expensive
3) Well to do parents that can pay full price
4) Tons of student debt
Posted on 9/15/18 at 8:02 pm to bgbam07
When I was at Baylor, I had several friends that went to Baylor instead of Texas cause Baylor would be cheaper (due to their national merit scholarships).
Face value of price tag doesn't always mean everything.
Face value of price tag doesn't always mean everything.
Posted on 9/15/18 at 9:01 pm to Joshjrn
According to that, families that make $270k or more pay full tuition ($72k per year). Assuming they don’t have additional circumstances
Posted on 9/15/18 at 10:04 pm to bgbam07
pretend my ancestors were native american
Posted on 9/16/18 at 10:05 am to bgbam07
quote:
We have a 2 year old and 3 month old and started 529's soon after they were born
They should be expected to contribute to their college education in some way. You don't want your kids to start off with mountains of debt but putting it on yourself to give them a full ride is unrealistic with today's tuition costs.
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