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Old 04-22-2021, 04:26 PM
 
9,105 posts, read 5,279,294 times
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Quote:
Originally Posted by DrPibbs View Post
SeminoleTom, imo it's better to have them live on campus or in an apartment house with roommates the first year rather than the last year.

College tuition has gone up a lot. Are there no scholarships or work study programs? When I went to college the tuition was a few hundred dollars per semester.
Yes, there is work-study, but it doesn't cover the full cost. And yes, there are scholarships. But the reality of scholarships is far different than the image people have. There are not near as many "full ride" scholarships as people like to think. Sure, everyone know a relative of a friend that got one, but if you looked only at CD it would seem half the kids in college went on full rides.

For most students they are stuck in the middle -- parents make too much to get free money and not enough to pay the bill themselves. Kids get some scholarships, but not a full ride. So they piece something together with a big of scholarships, a bit a parental help, a bit of work, and a bit of loans.
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Old 05-04-2021, 10:06 AM
 
1,535 posts, read 903,341 times
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How does a university president make over $1,000,000 a year in just salary alone? What justifies that? How much of that $ is shouldered by students, their parents, or taxpayers?

Compared to the average professor salary (many highly accomplished and just as valuable to the university), that salary difference is comparable to the CEO to worker pay gap that outrages so many people.
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Old 05-04-2021, 11:28 AM
 
660 posts, read 230,144 times
Reputation: 1257
I was talking to my mom about how much college will cost (for my daughter). She was truly shocked. Even more so when I told her my EFC is about half of my current take home pay. The funny thing with my daughter going to college is, because I am moving in a year, she will be a year without an instate college status anywhere. That ends up making private colleges, with their merit aid endowments cheaper for us than most state-run colleges. At least for the first year. But I kind of have to move for a variety of reasons. But it works out though.

Basically, I am selling my house and living nearly rent free with my mom. Mom has Parkinsons and wants someone to move in with her. She just needs someone in the house to make sure she's okay and to do the hard chores around the house like the yard work. I will be splitting household bills with her like utilities and groceries.

Where I live now my salary is just not keeping up with the cost of living. So I need to move at some point anyway. Moving in with mom ends up being a win for everyone. First, for mom since she really wants someone in the house with her and she wants it to be me. For my daughter, me not having a house frees up what I am paying for my mortgage payment, property tax payment, insurance, and HOA fees which is nearly $30K a year. That can go to college for my daughter. My daughter plans to do work study (which will cover another $3,000 a year) and, if she has to, apply for student loans (which covers another $5,500 a year max).

So that brings us to roughly $39K a year not including the $30K I have in a 529 for her. Her first pick is a private school that, with merit aid, will run about $36K a year. So she should be covered. But yeah, it is expensive. After she establishes residency, in-state flagship is $28K a year. But as an out-of-state student, it would be $49K a year for a year and a half (I need a full year of tax returns). With the higher tuition for a year and a half, over four years, the in-state school ends up being pretty much the same price as the private school.


Oh, she will be applying for scholarships too. But most of those are $500 here, $1000 there. I told her to make it her part time job applying. It all adds up after a while. But it is a lot of essays to write to put a dent in tuition--assuming she even gets them.

Oh, as for what the win is for me moving in with mom... I finally get to leave the city and move back home to a nice, quiet rural area. I am a divorced mom and only stay here so my daughter could grow up close to her father. I would be lonely in a house by myself after my daughter is off to college. I will be close to family--not just my mom, but my brother and his family, aunts and uncles, cousins, etc. So I will just be happier in general. And, I get to bank the proceeds from the sale of my house and watch it earn compounding interest.
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Old 05-04-2021, 11:57 AM
 
3,364 posts, read 1,057,238 times
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Big College. Not new. In part due to the number of third parties paying for it. There's a reason these 'school's have financial aid offices & counselors and it's not just about 'helping' the student.
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Old 05-04-2021, 02:31 PM
 
334 posts, read 166,234 times
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And this is why I am enrolled in a self-paced fixed rate online college, which is accredited. Search "WGU". Take as many classes as you want for one rate.
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Old 05-04-2021, 05:51 PM
 
3,866 posts, read 1,827,233 times
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Quote:
Originally Posted by compwiz02 View Post
And this is why I am enrolled in a self-paced fixed rate online college, which is accredited. Search "WGU". Take as many classes as you want for one rate.
I would ask for a list of where graduates of 'WGU' are getting jobs.
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Old 05-05-2021, 02:00 PM
 
334 posts, read 166,234 times
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Quote:
Originally Posted by Lizap View Post
I would ask for a list of where graduates of 'WGU' are getting jobs.
I'm currently in WGU and am working for the biggest casino gaming company in the US. A guy who got his MBA in WGU got a VP position at the company that is competing against the company I work for. Join the Western Governors University facebook groups. Different groups for different colleges (business, nursing, teachers, IT). Everyone in the groups will tell you they got promoted to managerial jobs once they graduated or stayed in the same position because they were already in a management job (they just wanted to get their degree).

This link might be useful: https://www.wgu.edu/career-services/...nd-alumni.html

https://www.businesswire.com/news/ho...y%C2%AE-School
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Old 05-05-2021, 06:56 PM
 
1,259 posts, read 85,812 times
Reputation: 756
Both my children went to CW Post (great college on Long Island).
They did well in High School and received some scholarship money.
They lived at home.
They both had part time jobs.
They did well at Post, and received additional scholarships.
They had a very positive college experience.

They are in 30's - they have successful careers.

I am not bragging - these are the facts.
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Old 05-05-2021, 07:38 PM
 
Location: Capital Region, NY
1,358 posts, read 597,977 times
Reputation: 1771
We plan on exchanging our mortgage for the tuition bill. Not a lot of options for us. Hoping for merit scholarships.
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Old 05-05-2021, 09:06 PM
 
1,289 posts, read 792,892 times
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One thing many don't realize is that merit scholarships given to top test scores (along with gpa's) have been greatly reduced. Many schools are doing away with rewarding the very top students in exchange for giving more scholarships to more students but of smaller amounts. In fact, there are those that say that giving large merit aid to top students is a form of racism.

As it is, full rides or very large scholarships are pretty much only given to your low income student (but high achiever), National Merit scholars, or recruited athletes. For everyone else the large amounts of scholarships are no longer offered.

My daughter has a 4.28 gpa and 1550 SAT. I have friends who said wow you are lucky that she'll be able to get a full ride. I wanted to explain that the most she'd earn from our public in-state universities is maybe $5000. This is for schools that run 24k- $30k a year for tuition, room and board (we don't live within a commutable distance). So $25k a year is still what we'd have to pay. We are not low income but not high income either. The irony is that there are a few private colleges my daughter is interested in that will offer her full tuition scholarships, we'd only pay room and board (which is still $13k a year).

I think many people are ignorant with how costs have skyrocketed and revert back to their own experiences years ago.
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