Cost to get kids through college

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94chem
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3:17p, 1/22/24
Right now it's around $30K for A&M. I'd budget $28K if you figure they won't be eating your food. If they need more than that, they can get jobs in the summer or during the year.

I've got one who's paying about that to a private school out of state, and another one on full ride to an out of state private school.

Another one finished welding school.

3 more to go, plus my wife.

Might get an Aggie grad student...
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
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aduey06
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3:33p, 1/22/24
Curious what others asset allocation is inside of the 529. I have an 8th grader that was 100% equities and with the recent run up, I went to a 60/40 equity/bond mix. The age based fund for him has 60% stable value but I think that is not enough equity exposure over the next 4 years.
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Kool
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In reply to aduey06 • 6:50p, 1/22/24
AG
aduey06 said:
Curious what others asset allocation is inside of the 529. I have an 8th grader that was 100% equities and with the recent run up, I went to a 60/40 equity/bond mix. The age based fund for him has 60% stable value but I think that is not enough equity exposure over the next 4 years.
When our son was very young, my wife and I "front-loaded" a 529 plan. If each spouse opened one up, we could put more in. We used American Funds and chose asset allocation separately. All of the balances were going to each of our emails separately, nobody was overseeing what the other was doing.

Recently, I looked at the performances, as we are nearing needing to use the plans starting Fall 2024. I tweaked my plan to go as heavily into equities as it would allow, my wife did some sort of a BS blend of equities and bonds. Hers is now worth $40,000 less than mine. I almost blew a gasket when I saw that. A year of college (if he goes to a state school) down the drain.

I switched hers to my asset allocation and I am leaving both that way. If the market tanks, I will let it ride and use cash to pay for college expenses. He will be able to inherit the 529s to give to his children. If the market does well, we will have more in the funds to pay for college and any grad school he might endeavor. Just one way of doing things.
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Comeby!
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8:40p, 1/22/24
AG
I have a junior in the corps studying engineering. $12-14k/ semester taking 12-14 hours. Will be about $130k when everything is said and done. About 2/3 TPPT and 1/3 529 with American Funds. Out of pocket is about $200/month for meals outside the corps meal plan so about $50/week.
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Kool
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In reply to Comeby! • 9:52p, 1/22/24
AG
Comeby! said:
I have a junior in the corps studying engineering. $12-14k/ semester taking 12-14 hours. Will be about $130k when everything is said and done. About 2/3 TPPT and 1/3 529 with American Funds. Out of pocket is about $200/month for meals outside the corps meal plan so about $50/week.
Since you are also using American Funds with the 529, can you tell me how that works? Do they send you checks to write from the account once you start to need to tap into the funds? As of now, it's just like a brokerage account that I do not have checks for. Thanks in advance,
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Comeby!
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In reply to Kool • 9:53p, 1/22/24
AG
No, don't take the check or have it mailed to you. You send direct to A&M from the online system. It should populate when you search for the school. If it doesn't and you need help, pm me and I'll take a snapshot where they are supposed to send the funds.
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Kool
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In reply to Comeby! • 9:56p, 1/22/24
AG
Comeby! said:
No, don't take the check or have it mailed to you. You send direct to A&M from the online system. It should populate when you search for the school. If it doesn't and you need help, pm me and I'll take a snapshot where they are supposed to send the funds.
Thanks. At this point, I don't even know what school he will be attending. I was just curious as to how the entire system was set up. Once I/we know that, does the school help with setting up access to the plan?
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Comeby!
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In reply to Kool • 10:26p, 1/22/24
AG
Understood. No, the school doesn't have a hand in anything. This is what it looks like when you are ready to disburse.


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94chem
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11:17p, 1/22/24
I always have the money sent to my account instead of the school, since I use it for stuff besides tuition, for example meal plan equivalents for off-campus students.
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
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AggieDruggist89
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In reply to Kool • 4:45a, 1/23/24
AG
We also used American Funds (capital group) and you can send money directly to your account or have the check sent to you.
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AggieDruggist89
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In reply to TMfrisco • 5:35a, 1/23/24
AG
TMfrisco said:
AggieDruggist89 said:
TMfrisco said:
AggieDruggist89 said:
DannyDuberstein said:
Dill-Ag13 said:
No kidding. That's an absurd amount.


Absolutely. My daughter is a junior and thankfully was born just before the TTF closed. Her share of rent at nice places has been about $750-800/mo. So call that $35-40k for 4 years. I see what tuition/fees are and what the TTF pays A&M. I'd ballpark that at $7500/semester, so call that $60k if someone takes all 120ish hours there (most have enough AP and dual credit to take a big chunk out of this tho). So that's generously $100k to living and school. So the dude spent another $100k on food, gas, and beer money


I'd allow expensive green fees
I'm your age and I think a semester pass at the campus course was under $200. For that extra $100k I could have splurged and been a member at Briarcrest!
I think the semester pass was $25 my fish year... 1985
I don't remember the number, but know they lost money on me.


We may have played together!
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Kool
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6:41a, 1/23/24
AG
Thanks for all of the above responses
No material on this site is intended to be a substitute for professional medical advice, diagnosis or treatment. See full Medical Disclaimer.
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TMfrisco
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8:12a, 1/23/24
AG
I'd say $30K/year all-in is pretty close to correct - could be a little more or less depending on where they live. I am shocked to find out parents are putting their kids in some of the new apartments on the north side of campus and paying over $1000/month.
My daughter has lived on campus, the Barracks and Sorority house right now. Her R&B and misc(extra food, gas, etc) comes in between $1200-$1500/month. Tuition and fees averages around $7K/semester - more in the fall for PP and Sports pass and less in the spring. Her time at The Barracks cost less than the dorm or Sorority house. She already has a spot for the fall and the expenses are about the same as there. She spends less on food when living off-campus than the meal plans at either the dorm or House.

She has a part-time campus job to fund her coffee addiction and extravagant clothing (though she shops resale shops as much as anywhere)

We've been pretty fortunate between the Texas Tomorrow Fund, a 529 (not large, but funded by my parents) and miscellaneous small scholarships we don't come out of pocket for a tremendous amount other than Sorority dues.

It's expensive to send a kid to college now days! I understand the parents who don't want to or can't spend that kind of money. I totally get Vocational options. For us, the "Other Education" at A&M has been worth every penny.
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Agilaw
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8:26a, 1/23/24
AG
Just put two through and one still at A&M. $200,000.00 is way out of line. It is much closer to $24,000.00 - $27,000.00 depending on the dorm/apartment/home. It's not cheap, but my experience is not even close to $50,000.00 per year.
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cab559
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In reply to aggiepaintrain • 1:57p, 1/23/24
AG
aggiepaintrain said:
I have 2 at a&m right now

Here's what it costs for one of the beauties

$8k a semester in tuition and fees 12-13 hrs
Rent $750+ a month plus utilities
Food $500 a month
Gas $200 a month
Car ins $200 month
Fun $400 month

I guess if you track every cent you spend on your kid it could cost that much BUT a lot of those expenses would be spent even if your kid was not in school.

Blinn is 1/3 the cost so take that for what it's worth.



Am I reading it right that is over $40k a year (all in) for undergrad?
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b0ridi
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In reply to cab559 • 9:37p, 1/23/24
cab559 said:
aggiepaintrain said:
I have 2 at a&m right now

Here's what it costs for one of the beauties

$8k a semester in tuition and fees 12-13 hrs
Rent $750+ a month plus utilities
Food $500 a month
Gas $200 a month
Car ins $200 month
Fun $400 month

I guess if you track every cent you spend on your kid it could cost that much BUT a lot of those expenses would be spent even if your kid was not in school.

Blinn is 1/3 the cost so take that for what it's worth.



Am I reading it right that is over $40k a year (all in) for undergrad?
Assuming you're driving in from Cypress 5 times a week and hitting the bars every Thu/Fri/Sat, the gas and fun categories look reasonable to me!
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Aggie95
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In reply to aggiepaintrain • 10:15a, 1/24/24
AG
aggiepaintrain said:
I have 2 at a&m right now

Here's what it costs for one of the beauties

$8k a semester in tuition and fees 12-13 hrs
Rent $750+ a month plus utilities
Food $500 a month
Gas $200 a month
Car ins $200 month
Fun $400 month

I guess if you track every cent you spend on your kid it could cost that much BUT a lot of those expenses would be spent even if your kid was not in school.

Blinn is 1/3 the cost so take that for what it's worth.



my 2 college kids want to know if you are looking to adopt?
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aggiepaintrain
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10:22a, 1/24/24
AG
Fun can also be called misc (clothes, sorority dues, etc)

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Mike Hancho
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11:45a, 1/24/24
Man I wish I was some of y'alls kids while at a&m.

Was averaging about $550/mo rent all three years off campus. The barracks is pricy but so are alot of the other places that have a "lifestyle" pitch to their housing.

Wasnt poor but definitely not living it up 24/7
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The Kraken
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2:14p, 1/24/24
AG
No kids for me....and there's no way if I were graduating HS these days that I'd have asked by parents to pay for my education with it so expensive these days. Not when they were both educators and could barely help me back in the 80s, and that was with a few scholarships and financial aid. I'd enlist and let the government pay for it now. Any of you try pushing your kids in that direction?
plus ça change, plus c'est la même chose
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Dill-Ag13
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4:37p, 1/24/24
AG
Was an RA in college at Walton. $1300/semester in rent. These numbers are crazy.
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AggieDruggist89
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In reply to The Kraken • 4:41p, 1/24/24
AG
The Kraken said:
No kids for me....and there's no way if I were graduating HS these days that I'd have asked by parents to pay for my education with it so expensive these days. Not when they were both educators and could barely help me back in the 80s, and that was with a few scholarships and financial aid. I'd enlist and let the government pay for it now. Any of you try pushing your kids in that direction?


No,

My buddy with household income less than $120k per year, his daughter got accepted to Stanford and Harvard with all expenses covered by need based financial aid. Not sure of the amount but California public colleges are free for household income less than 80k I think.
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94chem
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In reply to AggieDruggist89 • 7:28a, 1/25/24
AggieDruggist89 said:
The Kraken said:
No kids for me....and there's no way if I were graduating HS these days that I'd have asked by parents to pay for my education with it so expensive these days. Not when they were both educators and could barely help me back in the 80s, and that was with a few scholarships and financial aid. I'd enlist and let the government pay for it now. Any of you try pushing your kids in that direction?


No,

My buddy with household income less than $120k per year, his daughter got accepted to Stanford and Harvard with all expenses covered by need based financial aid. Not sure of the amount but California public colleges are free for household income less than 80k I think.


Your buddy has a good way to hide assets. With 6 kids and 3 in school, our family contribution to Swarthmore, Princeton, etc., was "only" $55,000/year. Makes more sense to go there for grad school and get it for free plus the stipend.

These private schools are not for middle class families who have been frugal and saved over the years. You only save enough to convince them that you don't need any help. They see that you've socked away $60K, and decide it won't be any problem to come up with $220K more. Um, no thanks.
94chem,
That, sir, was the greatest post in the history of TexAgs. I salute you. -- Dough
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Troglodyte
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8:36a, 1/25/24
AG
I live in Texas. My oldest goes to Colorado State, so out of state tuition. We pay $15k per semester for tuition and fees. He is a freshman this year, so we pay $6k per semester for dorm and meal plan.

In the grand scheme of things, out of state isn't that much more. Off campus housing is an eye opener. The biggest issue is the required 12 month lease. Good thing Fort Collins is a great place to live over the summer. If he doesn't want to stay over the summer, maybe I'll go live there for the summer!!
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water turkey
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8:26p, 1/28/24
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GoAgs92
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3:53p, 2/1/24
AG
Son #1 graduated may 2023, I spent about $56K. He graduated in 3 years due to AP classes.

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