Neale Godfrey: Return to the Nest
Jill Patir: Hug Your Loved Ones a Little Tighter
Total cost of a college education is over 30K
Filed under: Day Care & Education
I'm embarrassed to admit that I grumbled my way through University, never understanding how a deep knowledge of the Faerie Queene was going to help me succeed in the corporate rat race. Admittedly, Spencer is galaxies away from what I do everyday now, but I know for sure that I never would have been presented with the opportunities I've had without my University Degree.
So I have to shake my head when I see reports like this one: how do kids afford school today? How do their parents afford it? According to CNN, the cost of a four year college education (all expenses in), now costs $ 32,307.00. This blows my eyes clear out of their sockets. Two thirds of students enrolled in post secondary education in the US must apply for some kind of federal grant. No doubt. Tips at the local restaurant won't cover that kind of tuition.
So I have to shake my head when I see reports like this one: how do kids afford school today? How do their parents afford it? According to CNN, the cost of a four year college education (all expenses in), now costs $ 32,307.00. This blows my eyes clear out of their sockets. Two thirds of students enrolled in post secondary education in the US must apply for some kind of federal grant. No doubt. Tips at the local restaurant won't cover that kind of tuition.
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ReaderComments (Page 1 of 1)
10-23-2007 @ 10:12AM
Eva said...That actually sounds cheap to me. My undergrad was something like 100k. I totally should have gone to a state school but the pressure of fancy names, so inane, is very strong!
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10-23-2007 @ 10:26AM
soccermomoftwo said...If you look at the article it's 32K per year for a private university. So yeah that's 100K for a 4-year degree. I am one of the few lucky ones to get through a private university without a loan. My brother did it too through PhD. But my kids sure won't!
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10-23-2007 @ 2:54PM
SKL said...It doesn't seem like that much to me. It's only $8K per year including living expenses? It may sound like a lot but it will come back many times over.
My undergrad was only $11K for tuition and books, including extra courses due to changing my major, didn't that include room & board, and it was a LONG time ago (finished in 1987).
I think it's wonderful that there are so many options for financing college education. I was flat broke but financed a $100K education (undergrad, MBA, and law) through work, grants, scholarships, and mostly loans. It's long since been paid off and I never regretted it for a moment.
If each parent put aside a bit of money each year into their kids' tax-benefited college funds (or 401K or other savings), it would really help defray the cost of their education when the time comes. Nearly everyone can afford to put a bit aside by trimming some unnecessary extras, and we can also encourage teens to work and put money aside for college. For those who really can't afford to save at all, there are many forms of need-based financial aid. Hence this is by no means an insurmountable challenge. The cost is certainly no excuse for not making the effort.
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10-23-2007 @ 6:11PM
Kirstie said...Yeah, it's definitely 32k a year. I'm a college freshman who's currently in the process of transferring from my ultra-expensive $50,000 a year private school to a $16,000 a year public school, because I can't handle the expense paying for college on my own. It's doable with many loans, but I have to cut the corners somewhere.
Suprisingly enough, the cheaper state school is a lot nicer in terms of dorms and grounds than my ultra-rich private school!
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10-23-2007 @ 9:15PM
Melissa said...My financial planner estimates that my sons will need $124,000 and $132,000 for their college tuitions, 16 and 18 years from now, respectively.
If only I have $24,000 to invest for each of them TODAY so that it would grow to that in 16 or 18 years. ha!
My first HOUSE cost less than that. Geez.
Education reform. We need it.
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10-23-2007 @ 9:48PM
Kim said...Sounds cheap to me. My class motto was "60 thou to live with cows." That was the tuition, room and board for four years, almost 20 years ago.
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