Results 101 to 125 of 155
Thread: College costs
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06-14-2018, 03:55 PM #101
I like the idea somebody mentioned of giving the kids a set amount that you will pay. Anything above that, the kid pays. If they come in under budget, they can have the balance. My wife's parents did that exact thing for our wedding and guess what, we figured out quickly how to put on a cheap (yet fun) wedding and stash the rest in the bank, which we later used to help us make a down payment on a house (back when 5% was sufficient). It's amazing how your perspective changes when you get to keep the "change."
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06-14-2018, 04:22 PM #102
Cheaper if you are Canadian but the international student vigorish still makes it lower than the local U in most states. I'm a US citizen and I spent 4 lovely years in Montreal in the 70's and my son went to Dalhousie in Halifax from 07 - 11. International student Tuition in both cases was lower than In-state rates for UMass.
Damn, we're in a tight spot!
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06-15-2018, 06:44 AM #103
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06-15-2018, 10:21 AM #104
Personally, there's no way I'd do a 529. I'd like to set aside money into a mutual fund that the kids don't really know about. For one, the average yields are better, but also that way if my kids go to school and I have to pay for it, we can do it, BUT if they pursue a trade, don't go to college, or get it paid for via scholarship, military, etc., then I can pocket it. I prefer to refer to my kids' college savings as "Daddy's Lamborghini Fund." I am not exactly going to be disappointed if I don't have to pay for their college. Haha.
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06-15-2018, 10:41 AM #105
Why would the yields (returns) be any different? We used Nevada's plan, which is through Vanguard, and you can select any holding you want from Vanguard's offerings.
Using a 529 vs separate earmarked taxable account: yes on restrictions on withdrawals - OTOH, if you use the 529 for education expenses, it is tax sheltered growth.
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06-15-2018, 10:45 AM #106
Yeah, and your kids won't give a shit when Dad is wearing diapers and needs elderly care. Your texass is showing.
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06-15-2018, 10:50 AM #107
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06-15-2018, 11:23 AM #108
Yeah, the yields should be the same. But the Roth is a better vehicle for me than a 529, and likely is better for anyone who will turn 60 during their kid's time in college. The money doesn't get counted on the FAFSA, and if they don't go to school the money is yours. If they do, you wait until after they have finished their last FAFSA, then use the Roth to pay off existing loans.
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06-15-2018, 11:24 AM #109
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06-15-2018, 11:56 AM #110
So if the kids get that full ride ski scholarship I can move the money out? I presume it becomes taxable income? Or can I roll it into another tax sheltered growth (403b etc).
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06-15-2018, 07:33 PM #111
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06-15-2018, 07:59 PM #112
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06-15-2018, 08:03 PM #113Funky But Chic
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06-15-2018, 10:03 PM #114
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06-15-2018, 10:59 PM #115
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06-15-2018, 11:28 PM #116
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06-16-2018, 12:06 AM #117Ich bitte dich nur, weck mich nicht.
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06-16-2018, 03:46 AM #118Registered User
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^^ Yeah, the costs are unreal now in the USA. No way can most unrich families afford it anymore, when that was not such a big deal 30 yrs ago. We better figure out how to fix it, too, or we will end up a nation of uneducated morons, if we are not there already. Sorry, don’t mean to insult those without a college degree.
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06-16-2018, 08:47 AM #119
How can this system not break down soon? How can that many families out there pay +$60k a year for an average private school? And $40k a year for a shit in-state where they spend more time high than in class?
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06-16-2018, 09:12 AM #120
Spending 500k for a upper level private education isn't that big of an expense over a 85 year life span.
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06-16-2018, 12:39 PM #121Rod9301
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Yeah, but you know that up and us are the only developed countries where college is not free?
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06-16-2018, 01:04 PM #122indentured servant
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screw that, judging form the people in the news that went to "recognizable" schools I'd rather hire no name grads any day of the week
that being said if money right out of the gate is the goal as mentioned above get 'em in a trade school and they'll be golden
oh, and to the people claiming that tuition in in PQ is cheap, yes it is, thatnks to the rest of Canada paying for it...transfer payments for the winLast edited by waxman; 06-16-2018 at 01:53 PM.
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06-17-2018, 05:58 AM #123
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06-17-2018, 06:20 AM #124
My kids are dual citizens. The oldest just finished her first year at UNB Fredericton. I spent about $15K USD give or take on everything including spending money and travel. She got a $1500 CAD scholarship from the school for her HS grades and a $1000 USD one from a local org. Minutes after she accepted at UNB, Dal offered her $4500 CAD. However, she didn't really like Dal, they don't have her exact program with the specialty she wants, and she applied there only because I said she had to apply to more than one school. She really, really, really likes UNB. I mean it looks nice and all, however I will never understand her level of attachment for it. It's just a school. Hopefully she gets a good academic scholarship this year from UNB as she has a 4.3 GPA. It is cruel that they don't announce that until mid July. And she won some writing contest, but can't seem to tell me how much $$$. Of course I have a kid going into 11th and a kid going into 8th. I am screwed.
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06-17-2018, 09:37 AM #125Registered User
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the costs i'm hearing are usually under 20K a year for a Canadian Uni, almost nobody goes to an American school unless they got a sport scholarship or its for something unusual not offered in Canada
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