How much over budget do you all figure?

[Pilgrim21784]

Ouch! Your college expenses got my attention, although my reference frame is about a decade ago. By local colleges, are you referring to state or private institutions? One of the parameters I discussed at length with my kids pre-college selection was ROI. And yes, we discussed the non-economic variables concerning social contacts etc., but they made their decisions primarily based on economics. Interestingly, my relatively new SIL (son-in-law, I just clocked 3 years with wife #2) graduated with honors from St. Johns law school in NY two years ago. I obviously had no input into his planning. He intentionally sought and obtained employment with a company that covered 80+% of his law school costs while he was employed full time with them at a fairly decent salary. He completed the degree nights and summers in three years. SIL #2 got his masters essentially free from his employer (University of Maryland) doing the same plan. Neither of them will ever likely impact our retirement finances. My point being that planning (and hard work), whether parental or otherwise, is the key issue for financial stability and security, for both munchkins and retirement folks.

[mathjak107]

Originally Posted by Pilgrim21784

Ouch! Your college expenses got my attention, although my reference frame is about a decade ago. By local colleges, are you referring to state or private institutions? One of the parameters I discussed at length with my kids pre-college selection was ROI. And yes, we discussed the non-economic variables concerning social contacts etc., but they made their decisions primarily based on economics. Interestingly, my relatively new SIL (son-in-law, I just clocked 3 years with wife #2) graduated with honors from St. Johns law school in NY two years ago. I obviously had no input into his planning. He intentionally sought and obtained employment with a company that covered 80+% of his law school costs while he was employed full time with them at a fairly decent salary. He completed the degree nights and summers in three years. SIL #2 got his masters essentially free from his employer (University of Maryland) doing the same plan. Neither of them will ever likely impact our retirement finances. My point being that planning (and hard work), whether parental or otherwise, is the key issue for financial stability and security, for both munchkins and retirement folks.

colleges were city, queens college, law school was hofstra

[Gandalara]

Originally Posted by Pilgrim21784

Gandalara - boomerang insurance is to position your kids with enough cash upon college graduation or completion of other training to start their careers with NO debt and sufficient cash for a solid late model used car, professional wardrobe, utility/rental deposits, apartment furnishings, etc., etc.

Ah, thank you. Had never heard the term before. Or maybe I always ignored it ... the only boomerang kids I have are exchange students that come back to visit