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It’s graduation day–a day that’s getting quite familiar to Marc and Beverly Ostrofsky of Houston.
So what’s the cost of putting five daughters through college? Ostrofsky told ABC News $60,000 to $70,000 a year, “easy—that’s really conservative,” Beverly Ostrofsky said.
In total, the family will spend about $1.5 million on college after taxes and that’s not including graduate school.
At first I was really focused on how much money they spent...then I read on... I think the more impressive thing in this article is that this is a blended family and college was paid for all of the girls. That's some step parent!
Complete waste of money. He should have taught them how to start and run successful businesses then take 300k and invest the money into each business venture.
Last edited by toobusytoday; 05-20-2012 at 09:21 AM..
That's just a waste of money. This is my college plan:
Yr 1: $4k (Community College) Yr 2: $4k (Community College) Yr 3: $7k (State College) Yr 4: $7k (State College) Total: $22k (Tuition) Real Total: ~5,500 (Bachelors Degree cost after including grants, scholarships, Fin.Aid and programs)
{Multiply that by Five if you had five kids: $27,500}
Of course taking into account inflation.
Last edited by LongIslandPerson; 05-19-2012 at 08:53 AM..
That's just a waste of money. This is my college plan:
Yr 1: $4k (Community College) Yr 2: $4k (Community College) Yr 3: $7k (State College) Yr 4: $7k (State College) Total: $22k (Tuition) Real Total: ~5,500 (Bachelors Degree cost after including grants, scholarships, Fin.Aid and programs)
{Multiply that by Five if you had five kids: $27,500}
Of course taking into account inflation.
Nice if you can do that, but it's not doable at all depending on where you live. For example, where I grew up, there was no community college nearby, so the first two years are impossible. State college did have a branch nearby, but the annual tuition is currently running over $13K/year. They don't have much in the way of grants due to huge funding cuts. Add in regular 8% increases in tuition, and the 4 year total is nearly $60K not including books, and that's presuming your parents don't charge you rent/food money/etc.
That said, $1.5million for 5 kids is utterly ridiculous.
The parents have the money to send these girls to the best schools. If they didn't have the money they would most likely have gone to their state's schools or there would have been a lot of financial aid due to have multiple kids at college at once. If you got it, spend it.
Nice if you can do that, but it's not doable at all depending on where you live. For example, where I grew up, there was no community college nearby, so the first two years are impossible. State college did have a branch nearby, but the annual tuition is currently running over $13K/year. They don't have much in the way of grants due to huge funding cuts. Add in regular 8% increases in tuition, and the 4 year total is nearly $60K not including books, and that's presuming your parents don't charge you rent/food money/etc.
That said, $1.5million for 5 kids is utterly ridiculous.
Even including my MBA (6 years ago), my schooling was way lower than 1/5th of 1.5m...
That's just a waste of money. This is my college plan:
Yr 1: $4k (Community College) Yr 2: $4k (Community College) Yr 3: $7k (State College) Yr 4: $7k (State College) Total: $22k (Tuition) Real Total: ~5,500 (Bachelors Degree cost after including grants, scholarships, Fin.Aid and programs)
{Multiply that by Five if you had five kids: $27,500}
That's just a waste of money. This is my college plan:
Yr 1: $4k (Community College) Yr 2: $4k (Community College) Yr 3: $7k (State College) Yr 4: $7k (State College) Total: $22k (Tuition) Real Total: ~5,500 (Bachelors Degree cost after including grants, scholarships, Fin.Aid and programs)
{Multiply that by Five if you had five kids: $27,500}
Of course taking into account inflation.
My college plan--get good grades in high school, pay nothing for college....
My kids--get good grades in high school, pay nothing for college....
Lot less expensive than your plan
If you have the money, who cares how you spend it.
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