Layout:
Home > College Tuition

College Tuition

December 22nd, 2011 at 01:47 pm

My wife and I met while we were undergraduates at Michigan State University. We would, as would be expected, like for our children to follow in our footsteps. The following was copied directly from the msu.edu admissions website:

In-State Freshmen
•Tuition and fees (15 credits/semester): $12,822
•Housing (double room/Silver Meal Plan): $8,204

Total for two semesters: $21,026


How are we going to afford that?

That's just an estimate for one child for one year. For the 2011/2012 year. Our oldest won't be ready for college for another 10 years.

My oh my. One financial crisis just follows another.

6 Responses to “College Tuition”

  1. creditcardfree Says:
    1324562216

    Don't forget scholarships, saving now, your child working before and during school, and of course loans if needed.

  2. CB in the City Says:
    1324562333

    At the college I work for, tuition alone is $35K per year. However, 85% of our students receive scholarships.
    Employees' children go free.

    Before I came here, I worked for a large university. My sons each went for half the price of tuition. Working for a college/university really pays off in that way. Perhaps not an option for you, but many plan to find jobs in higher education for that reason alone.

  3. MonkeyMama Says:
    1324562471

    Well, your child could always work to help pay for that. That would easily cut YOUR cost down in half. & if able bodied, you could always take a second job to help pay for it. I think I have Plan A - Z in place, and "working more" is high on the list. (Savings is in case we can't simply work more to pay for it).

    Just as a tip, make sure you also look up the "common data set" for any college you are considering. I heard this tip a while ago on the radio. Every college publishes tuition, fees, cost of room, board, etc. I think they even estimate books, etc. I have been keeping an eye on the cost of our alma mater and several colleges around here. This is GREAT information. Interestingly, I feel I have a pretty solid idea about the cost of college (I even looked up 1999 data set to compare the figures to my reality the last year of my college - the info is really good). But these days everyone thinks college cost a bajillion dollars and I am just insane and out of touch. Our alma mater costs little more than it did 10 years ago. BUT, I keep an eye on it because anything can happen - particularly with this economy - is heavily state subsidized.

    & beyond that, maybe another college will be more appropriate or cheaper. The more flexible you are, the more options you have. I have not read "Debt Free U" but heard it was a great book. My family has always focused on lower cost options and working - no one in my family has borrowed a cent for college (parents, siblings, etc.). Debt Free U really gets into some more outside of the box thinking. I definitely plan to read that one as my kids approach college age.

  4. Joan.of.the.Arch Says:
    1324565445

    Don't know how things will be in 10 years, but when my son started college in 2006, there were so many scholarships that I began to wonder how many students actually pay full tuition. In my state, we see tuition support crumbling on the edges now. So, yes, parents do need to stay on top of things. Keep in mind that there may be ways other than college for your children to learn and be launched into a career.

  5. creditcardfree Says:
    1324569297

    MM...thanks for mentioning the common data set. I will be using that. It is hard to believe that I have a child who will be going to college in just under 4 years! It comes up fast.

  6. snafu Says:
    1324573311

    First year University is General Studies, so if there is a Community College in your area, staying home is wa-aay cheaper and easily transferable to your State Uni.

    By 2nd semester high school, DKs can develop research skills significantly by seeking/examining all scholarships and grants whose qualifications they could meet. If they can develop team skills needed, they can involve/work with friends to expand the search. The skill sets acquired will be very useful after 2nd year.

    So many universities have developed distant learning programs [e-mail] they may be the most cost efficient in 10 years. These students work in on-line groups and get one-on-one time with professors that brick and mortar school can't offer. Interestingly, on-line professors must meet much higher standards than the stand-up folks in qualifications and committment

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]