So, how much does it really cost to put two kids through university?

miss_thenorth

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Ok, so yo 've pieced that hubby and i are having money conflicts.

Realistically, and I have read projected amounts, how much are we looking at to send two kids who will be living in another city.
 

tortoise

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What is financial aid and work situation? Average rental or dorm costs?

Somehow I survived 2 semesters. Tuition was paid by grants. I took out a student loan for $1700. I was not working and my house payment alone was $500 per month. I was renting a room in my house, training dogs on the side, and getting some child support.

Now my house leased out and is on the market. :/

But somehow I survived it. :lol:

My personal opinion is that it is the child's responsibility to suck it up. If s/he is motivated enough, it will work. I remember my brother working 90+ hours a week in the summer to pay for school. Financial aid covered tuition and dorm, but he wanted more. So he worked his @$$ off and got it.

I plan to put aside enough for my son to go to a 2-year tech school. I won't leave him with no skills and no education. But it will be up to him to earn the rest, either by scholarship or work.
 

Occamstazer

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Aside from tuition, my monthly expenses during school have been about $750 a month, which I've paid for by working too much.
That included half rent, half utilities, and food.
I don't know how it is where you are, but here the school housing is a complete scam. High rent, lousy conditions, and it forces you to eat expensive cafeteria food. I never lived on campus for that reason.
A friend of mine used to yak about how I was spending all my money on off campus housing, until I did the math on her room and told her she was spending $600 a month to share a room with a stranger, and paying $8 a meal. She'd never done the math, just assumed the bulk payment came out to be cheaper :rolleyes:

Well, "too much work", except for this last semester, I've been living on savings and it's been awesome :rolleyes:

ETA: my tuition runs about $4,000 per semester, after fees and things. Some semesters it has been as high as $4,500. That's for University of Alabama, middle-of-the-road state school.
 

miss_thenorth

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there will no grants. And very likely no scholarships. It will be us contributing, and the kids having jobs while in school. the projection I got was around $100K for 4 years. I refuse to turn my kids out on their own with that kind of debt. Could you imagine just starting your life with that kind of debt already? We will be covering most, the kids will obviously have jobs.

No offense, but I would like to know dollar amounts, generally speaking. As in average rental costs etc tuition fees etc. Telling the kids to suck it up doesn't wash in my books. It's an education and their future, not a boo boo on their knee.
 

miss_thenorth

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Occam, does that also include transportation costsor any other fees associated that might not be readily considered?
 

ToLiveToLaugh

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I'm on a scholarship, so I don't monitor my expenses as much as I might. My apartment is through the housing system, which means my scholarship can carry over, but like occam said, is a complete scam on the price. I'm at an Oregon University, state run school. Tuition is $4500 for in state, I believe. The town I live in is fairly expensive, being a small university town with a lot of very well educated people. My expenses, including fuel and housing and my low low grocery bill is about $1300-1400 a month. Books per term are usually around $450, sometime lower or higher depending on what I can find without a middle man or what I need to buy new.

A lot of state universities have unclaimed work study, if students qualify for it. But yeah, in short... it's EXPENSIVE! But bless you for doing this for your kids. My parents help me cover what the scholarship doesn't cover, and so terms like this, where everything is falling apart, I can take off work if I have to. It is an amazing gift.
 

tamlynn

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I agree that parents should help with college if they are able, but the student also better be working his/her butt off. I was able to get Pell Grants (financial aid), and my parents covered the remainder of tuition for 2 1/2 years. They were also able to give me $200 a month for 2 1/2 years. I tried to cover my rent with that. All other expenses were mine. I started at a university 2 months after I graduated high school, so didn't have a lot of time to work full time first. I got married during my Jr. year, so my dh and I worked out the rest. Thankfully, he was employed full time in his field and had only 1 semester left in his Masters.

There is nothing wrong with working hard for an education and a future, but I agree that parental help is great.

As far as actual costs, I think you are going to be more specific as to which kind of school -state, private, community, etc. Living at home, on campus or off? Car? Also where you live has a huge impact on cost of living. Are we talking medical school or just bachelors degree? So many factors.

I didn't see if you are in the US. If so, have you checked out 529's? They are savings accounts that can only be spent on education.
 

FarmerChick

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there are tons of variables here definitely

how old are the kids now? and how many years before they get to university?

do they know what they want to be? different degrees cost alot of different money.

or they might want to be something that is specialized with less college years, like 2 years for business or something?

Nicole is 5. I am putting away about $100,000 for her education. I have 13 more years to bank LOL so far I have about $10K banked and it is in CDs and all earmarked for her education----and if by some roll of the dice she doesn't want to attend college or some other job opportunity hits for her (who knows 13 years from now), then she will have $100k for a house or something.

I take money from IRS refund and put about $2k aside each year just for her, best way I can work her education fund right now.
 

Wifezilla

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I told my oldest he was athletic enough and smart enough to fund his own college. We weren't being mean here, his dad and I have to take care of his disabled brother and this effects our income earning ability. He had plenty of notice he was on his own for college.

He did work from the time he was 16, he did get grants and took out a loan then proceeded to do 2 horrible semesters. He finally joined the army and he is now in Iraq. His loans are paid off now and he is socking away money.

He may go to college in the future, but it is on him :D
 

Dace

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Our strategy is unless they work hard enough in high school to earn a scholarship, it is two years at community then transfer to a State.

It is much easier to have them live at home and keep a close eye on them as they transition into adulthood.


I know that is not what you asked though, sorry.
 

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