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  #1  
Old 10-25-2012, 04:28 PM
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I know this topic is a ways off for some of you on here. It's creeping up quickly for us. I don't know if there's anyone other than ministermatt who's really reached this stage, but I'd be interested in any info. I know some of you are going/went recently yourself, maybe you know some too.

There's an interesting story in Time mag (article link) about reinventing college, making it cheaper and maybe more interesting. Including online colleges like Udacity. So some might change by the time our kids start. But odds are, it'll still be going to a brick and mortar - read that big $$$ - college if they go. I mean if you have just 2 kids going to the average private school, you're talking well over $200,000 just for tuition and fees, if they finish in 4 years (article says 58% finish within 6 years. Yikes.). No way we can do that in our family.

Matt, you mentioned certain ACT scores equate to scholarships, I'm curious how that works. I'm guessing that depends on the school? And any other scholarship info anybody has.

So are you saving already? Or do you care if they go to college? I'm realizing part of the saving program can be helping the kids keep grades up and get ACT & SAT scores up by practicing. Course you can't count on that for sure. Important though.
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Old 10-25-2012, 05:18 PM
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We have college accounts for the kids, but haven't been putting enough in them.

Why private? What is wrong with State schools? We have lots of great options in North Carolina. Great private schools too, but $$ unless you have scholarships. Hopefully all my kids will get them. We shall see.
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Old 10-26-2012, 02:41 AM
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We sent our first off to college this year and the whole senior year in highschool was a wake up call for us. Taylor got a 25 on the ACT and had a 3.89 GPA and she was offered 1/2 tuition scholarships at all 4 schools she applied to.(1 private, 3 state) She ended up at a state school 1 hour from us mainly due to the low cost. Once you hit 28 on the ACT you start to see BIG college dollars from the schools themselves, plus a lot of private scholarships. A friend of my daughter got a 28 ACT/ 4.0GPA & received a full ride to a state school here in Missouri plus piled up $6000 a semester in private scholarships.
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Old 10-26-2012, 03:45 AM
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We started an RESP when our son was 6 mo old. Right now, he's richer than I am.

We put $100 in every month (from our family allowance cheque) and the gov't puts in a contribution as well. I think about 20% or so, not sure the exact percentage. So hopefully when the time comes it will help. I'm sure it won't cover the entire tuition, but it should help.

BTW tuition in the US is way higher than up here. I know up here a Masters' course would be just over $600 for a 3 credit hour course. I know a few years ago I looked at Boston University at an online course and it was $2000 for a 3 credit hour course - unreal. Not sure if that is typical for down there or not, but I thought, how can anyone afford to go to university at $2,000 per course?
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Old 10-26-2012, 04:26 AM
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Yeah Hockey, I have no problem with state schools and would imagine that's where our kids will go. I mean I got my engineering degree at one, see all that cash I make now? Seriously though it was a great school, good reputation. My decision not to use it. Still damn expensive even in state though when you add it all up.

I told my son tonight how it works with in state/out of state tuition, he thought that was pretty stupid. I'd have to agree. As he said, we're all one country, can't we figure it out somehow? I know there are some reciprocal agreements for graduate school here in the west, maybe there's others.

Matt, thanks for waking me up to how that works with test scores, didn't know that. Good reason for him to start practicing now. Now I see why they start SAT practice at 7th grade now. Looked it up, and you're right, at one of our state colleges, over 28 on ACT gets you up to $42,000 over 4 years. Wow.

Yeah, QV, some of the prices are insane. I did read somewhere though that the % who pay full price at some of those places is tiny. Lots of scholarships and other aid. Interesting that gov't contributes to your individual fund, guess it's just a different way as opposed to our grants/loans. Makes sense for incentive to save for it.
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Old 10-26-2012, 10:27 AM
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Like Hock, we've started a fund for each kid and haven't been putting enough in. Frankly, if my kids wanted to learn an actual trade rather than go to college I'd be OK with that. Something that you can't outsource overseas.
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Old 10-26-2012, 12:07 PM
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I got a 27 on my ACT's and didn't get squat.

We have funds for all three girls going that my dad started. It won't pay for everything but it'll sure help when they get so far. I'm just dreading 5th grade next year, can't even think about college.

Good luck guys.
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Old 10-26-2012, 01:06 PM
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Isn't state school free in Georgia? Georgia Tech maybe? Mark?

I think it's good that in state kids save $. It's our State. Our money.

QV.....was that cheque baby bonus?
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Old 10-26-2012, 01:11 PM
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In Georgia they have the hope scholarship. Used to be about any kid could get at least their first 2-4 years free if they maintained a certain gpa. Which is now a 3.0. (It think when I lived in GA is was 2.5).

An in 2015 it gets even harder, basically only kids in ap classes will be eligible. I suppose with most states in budget crisis mode, college assistance is one of the first things to cut.

We have some college funds but have not deposited much the last few years. Probably have enough to cover 1 semester at a state school not including room and board.
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  #10  
Old 10-26-2012, 01:16 PM
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Missouri has the A+ program where a student who meets GPA, attendence & community service requirements get 2 years tuition at a community college. That is a great way to get going, especially if the youngster does not really know what they want to do.
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