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College cost in future

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  • College cost in future

    Would colleges really cost 400kish in 7-10 years ? I don’t know where my kids would go , but when I look at calculators and look for pvt colleges , that’s what they project .

    I know people paying 50-70k/ yr right now, so seems plausible but isn’t it craziness ?

    it seems like we discuss it off and on, but the thought of paying even half of it needs some good saving ( in case kids end up in those colleges).

  • #2
    With kids, things cost as much as you want/allow them to cost. I am sure there are already people paying over 400k for college for kids- tuition plus luxury apartments and cars and going to the bar all the time or whatever. If you want to spend that much on your kids, then yeah you better start saving. Or you can decide on an amount you're willing to subsidize and let your kids figure out the rest.

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    • #3
      U Chicago already Costs $80k per year.

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      • #4
        You can certainly pay that much for college now if you wanted to. You’d have to run a cost vs. benefit scenario to see if it’s worth it. There’s not too many reasons that would make me think it would be worth it.

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        • #5
          https://www.statista.com/statistics/...ges-in-the-us/

          Tuition, room, board, fees. This is not total cost of attendance. Add books, supplies and living expenses and a couple of trips home. The dorms close. You could be pushing $90k / year just living in a dorm.

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          • #6
            My kids had a choice, choose any instate university and we’ll pay for it, or go out of state or choose a private school and you’ve got to figure out the difference yourself. It kept prices reasonable.

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            • #7
              Originally posted by HikingDO View Post
              My kids had a choice, choose any instate university and we’ll pay for it, or go out of state or choose a private school and you’ve got to figure out the difference yourself. It kept prices reasonable.
              As of right now that is my plan.

              Op who knows. Maybe there will be a revolution in tuition in the next decade. I doubt it but maybe.

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              • #8
                Originally posted by Lordosis View Post

                As of right now that is my plan.

                Op who knows. Maybe there will be a revolution in tuition in the next decade. I doubt it but maybe.
                I hope something changes . The cost of education and health care are ridiculous , especially if you are not very rich or qualify for financial aid .

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                • #9
                  Originally posted by FIREshrink View Post
                  U Chicago already Costs $80k per year.
                  Brown, in the middle of nowhere Providence, costs $82K per year for tuition, room, meals, books etc. This does not cover the cost of travel or other incidental expenses. And with 3.5 months off in summer and 2 weeks in winter where you don't get any of these services, that is one heck of expensive education for 8 months a year.

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                  • #10
                    Originally posted by uksho View Post

                    I hope something changes . The cost of education and health care are ridiculous , especially if you are not very rich or qualify for financial aid .
                    They are very expensive because many of the laborers within those systems are getting rich. Like most of the people on this board.

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                    • #11
                      Originally posted by uksho View Post

                      I hope something changes . The cost of education and health care are ridiculous , especially if you are not very rich or qualify for financial aid .
                      Cost of expensive top colleges / Ivy will not change because they hide under financial aid umbrella that most here don't qualify, and thus keep the tuition rate very high.

                      People think that cost of Harvard or NYU is 35K when in reality it is 80K+.

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                      • #12
                        Assuming my husband's job and benefits stay the same, our kids have the following options:

                        1) Tuition free thanks to waiver (with possibility to go to a different school based on university agreements)
                        2) State school (we have 529s in case my husband's situation changes...worse case could go to grad school)
                        3) Private school with scholarships that make the total COA the same as a state school

                        We talk about money openly at home (age-appropriate), and my kids are currently on the "free" train. They don't know about the 529s and won't unless we need to tell them. We expect them to work hard in school, do some extra-curriculars, and go from there.

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                        • #13
                          My son chose one of the schools that offered the most money. We paid for private college counselor in part because she helped him pick schools that typically offer lots of merit aid (and in part because his high school had only one counselor who served 1800 students). The big state school is too hard to get into, which is unfortunate. I heard about another kid at the school who was offered significant money from MIT (perhaps financial aid, as I don't think they offer merit aid) and was turned down by our state school. There are lots of great smaller schools out there who offer a lot of discounts to make it financially similar to a state school, but your kid has to look for them and be open-minded. As an aside, my son says everyone he knows who goes to NYU drives a fancy car and spends money rather freely, so he didn't want to go to that kind of school anyway.

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                          • #14
                            It depends what question you’re really trying to answer -
                            1. in 7-10 years, will you be able to find a college with total tuition of over 400k? Yes
                            2. in 7-10 years, will the average cost of college tuition be 400k? No.

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                            • #15
                              $400k for college in the future? The future is now!

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