Estimated College Costs for my daughter

[Andy_B]

I went to WPI starting in 1985.

Checking with my dad, he said he spent ~17k when I was a freshman on tuition/room/boards/extras.

Today that same school costs $42,000 for this coming year for tuition/room/boards/extras.

That amounts to approximately an average of 4.6% increase each year since 1985.

Using that identical 4.6%, my 5 year old daughters 4 years of college at the same college I went to will be approximately

$72,000 $75,000 $78,000 $82,000

God that looks painful.

Andy

[Northside Rovers]

Damn. What school?

[Andy_B]

WPI. I am using the same school I went to so that I can try and limit the variables.

Andy

[VFish]

WTF is WPI if YDMNA'n?

[Andy_B]

WTF is WPI if YDMNA'n?

http://www.wpi.edu/About/

Andy

[firstshirt]

well i just made the mistake of sending my daughter 400 miles away to go to school at VCU. She went in as a forensic major the first semester and by the end of the semester was a beer pong major. 12k for room/tuition and board for one semester...now she is in a community college basically a semester behind everyone she graduated. 1200 dollars for 13 credits is much better than the 12k for the same amount,,,but really it was 12k for 4 credits because thats all she ended up getting out of 3 1/2 months of college. the kid was an honor student in high school and cranked out a 1.3 gpa her first semester. Love that girl to death but i could have strangled her all the way back to connecticut after pulling that crap. I will not make the same mistake on my other two daughters. National guard for both of them!!!

[cent]

I did about the same in my freshman year except I talked my parents and the Dean into giving me one more chance. Eventually graduated on the 5yr plan. Very costly freshman year party. So what do I go and do? I get my kid accepted into American University next year. Costs about 40k. He will soon be read the riot act. Oh well, keeping my fingers crossed.

[B Rock]

Given a number of states' current financial problems and the budget cuts which have been instituted at a number of Universities I would say that you can expect the rate will increase significantly more than the 4.6% you calculated if it is a public university.

For example, my University (Ohio U.) was forced to race tuition by 9% despite reducing expenditures by $4.49 million in 2004. This budget crisis was not faced alone by OU but by many other schools as well. There are a number of reasons for the squeeze that I'm sure I don't need to go into.

But as I mentioned in your other topic on a similar issue, although you will clearly want to provide as much as possible for your child it is very likely they will be eligible for significant aid.

I compare the current process as a tax on the "rich and stupid" (excuse my lack of political correctness) as those you don't pursue scholarships will clearly not recieve any and pay full tuition, which for most families in this country at the current time is not a reality.

[alberto232ec]

College is a pain in the ass. :D
Tuition at RPI is close to 45,000$ which is why I'm not even looking at that school :D It's crazy though what the hell do they do with all that money.

[96Squig]

That is why University/college for everyone for free is good!
That's why I for sure would not want any of my possible kids growing up in the U S...