Sharing College Costs with Children

scmom12
Mon, 03 Jun 2019 15:07:36 +0000

We fully covered the cost. Our goal was to keep it at cost equal to in-state (approx 100k over 4 years each). Oldest went to more expensive LAC but with full tuition scholarship so we covered R&B. She had work study jobs for 2 of those years and worked summers as camp counselor. We also paid for year and summer masters while she lived at home. Still came out than less than full pay for 4 years in-state.

D2 followed money to in-state honors where she combined two scholarships for full ride. She also worked a bit over summers but she scored with paid research grant and she received overage refunds each semester. She had healthy savings when she graduated. The masters degree had a full tuition plus a grant that helped with living. We covered remainder of expenses and flights. She did extended masters year where we paid half tuition for her. She is now in doctoral program and off our books except for flights home. We have asked her to dip into the savings for a few things but mostly have had the attitude that the 100k budget was for Ds. D2 has still not used that.

They are both appreciative and know they are lucky. It was definitely a goal for them to not have school debt.