Re: Are you planning to help your kids go to college?
We paid everything in full for one child who lived at home and went to a state college(this was his choice- he was offered private college) - about $2600. per year. And then of course his gas and living expenses with us.
We paid everything but the unsubsidized student loan that my other child was able to get each year for 4 years. He was in an expensive Private college in a 5 year Engineering Program. He also got about $4500. a year in scholarship money from the college. We paid about $14,000. a year in tuition after the loan he took and the scholarship. We paid all fees and all his room and board and provided him with a car for 2 of the years. He was living off campus a couple of years. The room and board and fees came to about $9000. a year, so approximately $23,000. per year for this child for 5 years.
We saved and planned ahead for both children so we paid cash for both of them. No loans for us involved. Both DH and I are college graduates and DH has graduate degrees so we felt an education was very important for them.
Momtwo
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