Paying for college

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Forum -> Parenting our children

Paying for college

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amother

Smokey

Tue, Mar 05 2024, 10:48 pm

Guess it depends. I went to an ivy league, full scholarship. Law school, full scholarship. My daughter is planning to do Brooklyn College because of a specific Suny Downstate med program. If she gets in, undergrad and med school are discounted. We'd be paying roughly the same as her high school, all the way through med school. Very affordable to help her with that. If she went to a higher tier school, it would be 50k+ and difficult to afford. But for what she wants to do in life, she doesn't need a higher tier and knows that. She'd rather go cheaper and be top of her class. It's all about priorities. Top tier, mid range and lower level only matter if there's a certain job your child is aiming for. I'm a very, very successful attorney and went free to a low level law school but that didn't matter. I was top of the class and had a job before I started to actually look. Chose not to go to big law (although I've had quite a few flattering offers) and bh, was happy in mid-size law. My ivy league undergraduate degree means nothing. If I had paid for it or took out loans, it wouldn't have been worth it. This is just my opinion and personal experience. Everyone has different goals and dreams.

amother

Aqua

Wed, Mar 06 2024, 1:12 am

OP, I want to congratulate you for wanting your kids to be able to make a decent living and understanding that their chances will be better if they attend college. As you see, there are many different ways to attend college and to cover the costs, so G-d willing you should be able to find a way that won't break the bank. Colleges have financial aid people who can help you learn about your options.

Elfrida

Wed, Mar 06 2024, 6:12 am

amother OP wrote:

Student loans are so expensive. I really don’t want my kids to have to deal with that as they’re starting out…

It's far from an ideal situation, but it's easier to have loans at the beginning than to try to face reducing work and taking on loans in midlife when there are so many other expenses. The alternative, as you e seen, is to be stuck with low level jobs and minimal chances of progression, due to lack of qualifications.

Yes, some people do work up to a high level job without a degree, but they are the minority. Even with a good job, they have limited flexibility, because it would be hard to find a comparable job elsewhere.

amother

Wine

Wed, Mar 06 2024, 6:17 am

You do have to be careful to choose a degree that a tyaly pays well if you’re taking loans.

salt

Wed, Mar 06 2024, 6:39 am

Encourage them to make aliya and study in college in Israel Hiding

They'll spend less than a tenth of that amount on tuition, and as a bonus they'll already be in Israel when mashiach comes.

realtalk

Wed, Mar 06 2024, 7:20 am

Look into your states policies around a 529 savings account. It's tax free and a lot of states have matching policies. You can also roll it from one kid to the next if one doesn't end up needing the money (or a certain amount into an IRA if there's such a surplus of funds). Any bit of help will make a difference.

amother

Tan

Wed, Mar 06 2024, 7:40 am

salt wrote:

Encourage them to make aliya and study in college in Israel Hiding

They'll spend less than a tenth of that amount on tuition, and as a bonus they'll already be in Israel when mashiach comes.

Was just going to say this! Especially for the sciences. Technion not only doesn't charge for a Masters but even gives a stipend. My DH is considering going for his Masters right now...

amother

Wed, Mar 06 2024, 7:42 am

amother Smokey wrote:

This would be great but I don’t know if my kids will qualify for larger scholarships. I hope they will but I don’t want to pressure them throughout high school.

amother

Wed, Mar 06 2024, 7:44 am

salt wrote:

Encourage them to make aliya and study in college in Israel Hiding

They'll spend less than a tenth of that amount on tuition, and as a bonus they'll already be in Israel when mashiach comes.

This sounds like a beautiful idea if that what they want to do - and I hope Moshiach comes today.

essie14

Wed, Mar 06 2024, 7:56 am

I worked very hard in HS because I knew I needed a scholarship for college.
My parents were very clear that they couldn't afford it.
I got a partial scholarship to a state school.
I lived at home.
I worked full time the summer between seminary and college and I worked part time during every semester of college. During semester breaks (winter/summer) I got a 2nd PT job or I took classes so I could get ahead and graduate sooner.
I took a student loan for my last year.
Loan was paid off within 3 years of graduation.

amother

Babypink

Wed, Mar 06 2024, 8:05 am

YU is very expensive if you need to pay in full. You can try Touro College. It’s significantly cheaper and you can try for financial aid or scholarship.

amother

Wed, Mar 06 2024, 8:09 am

irk Babypink wrote:

YU is very expensive if you need to pay in full. You can try Touro College. It’s significantly and you can try for financial aid or scholarship.

Wow I just checked landers, it seems it’s halfthe price, around 25k including dorm… that’s great to know!

amother

Olive

Wed, Mar 06 2024, 8:25 am

amother Ballota wrote:

Most people do student loans. It’s not common for parents to fund college.

There are cheaper frum programs like TTI.

Is TTI correspondence?

amother

Khaki

Wed, Mar 06 2024, 10:22 am

amother OP wrote:

This would be great but I don’t know if my kids will qualify for larger scholarships. I hope they will but I don’t want to pressure them throughout high school.

You don't have to pressure them but if they want to get a degree without loans its reasonable for them to study hard so they can qualify for scholarships.

No, not everyone has it in them - but then those people might not necessarily be a fit for college either way...

Phoebe31

Wed, Mar 06 2024, 12:10 pm

Many people do not qualify for financial aid, your child can file for financial independence and then they should be able to qualify (you will no longer be able to claim them on your taxes though)

Cheiny

Wed, Mar 06 2024, 12:27 pm

mha3484 wrote:

If mine want to go, they can go to community college/state school and figure out how to pay themself.

I would suggest you think long and hard about subjecting your kids to secular colleges, with what’s going on these days.

Elfrida

Wed, Mar 06 2024, 12:29 pm

You want them to go to college and have opportunities.
You don't want them to have student debt.
You don't want them feel pressured about scholarships.
You want to be able to fund it, but your earning capacity is limited.

I think you're going to have to compromise somewhere along the way.

Cheiny

Wed, Mar 06 2024, 12:30 pm

My friend is doing Sara Schenirer for BA and is getting it practically free, I think she pays about $300 per semester.

amother

Cappuccino

Wed, Mar 06 2024, 12:41 pm

amother OP wrote:

How do you do it???
What’s the cost?
My parents couldn’t for me so I’m stuck in a part time office job. I’d like my boys and girls to have opportunities and I’d like to pay for their college or course etc.

But I just looked online and YU for example is over $50,000 a year! That’s a fortune. Is college only for rich people?

Didn’t read through the whole thread but I know I did my undergrad though fafsa which is financial aid. I wasn’t going to go for a masters but I got a job which the boss wanted the masters so he agreed to pay a certain percentage and the rest I took loans.
There’s also an option of working in the school office in exchange for free credits so ask about that.

finprof

Wed, Mar 06 2024, 9:57 pm

Kids can do CLEPS on their own in place of Community College even while they are in HS. This is what TTI and similar programs use. For more modern schools duel enrollment or AP exams are also an option.

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