Adult Children Moving Home

[Ginger]

Originally Posted by DapperButch

This is another topic I have been reading a bit about in the financial magazines. As stepfordfemme noted, the cost of college is ridiculously high now.

...

Right now the trend is towards parents putting every dime into paying for their children's college and not funding their retirement. The economy/advice experts are suggesting that parents fund their retirement first and then give to the kids what they can for college.

Public colleges and universities are still affordable and even though the interest rate on college loans just went up a little, it's still about half the interest most loans incur.

I work in a college where over half the students attend tuition-free because they income qualify. Most of the rest benefit from some kind of scholarship fund and even those who pay full tuition pay only about $4,000 a year.

Start at a community college and save money on your transferable, intro- level classes. Transfer to a public university and meanwhile, research what kind of merit fellowships are out there as you gain credibility with a high GPA and the other stuff you accrue—a record of public service, etc.

Anyway that's what I recommend for people entering college. Unless of course they get some kind of incredible deal at a private college right at the start, based on their remarkable high school record and often, ethnic identity.

My point is, families don't have to lose their savings to put their kids through college. I never knew that till I fell ass backwards into fellowships and later, worked in a public university system.

[DapperButch]

Originally Posted by IslandScout

Public colleges and universities are still affordable and even though the interest rate on college loans just went up a little, it's still about half the interest most loans incur.

I work in a college where over half the students attend tuition-free because they income qualify. Most of the rest benefit from some kind of scholarship fund and even those who pay full tuition pay only about $4,000 a year.

Start at a community college and save money on your transferable, intro- level classes. Transfer to a public university and meanwhile, research what kind of merit fellowships are out there as you gain credibility with a high GPA and the other stuff you accrue—a record of public service, etc.

Anyway that's what I recommend for people entering college. Unless of course they get some kind of incredible deal at a private college right at the start, based on their remarkable high school record and often, ethnic identity.

My point is, families don't have to lose their savings to put their kids through college. I never knew that till I fell ass backwards into fellowships and later, worked in a public university system.

IslandScout, do you work at a community college or a college/university?

I agree about going to community college first. Our son (TF's son), was successful in getting a deal with our local university. Although his classes were held at the local community college, he was a university student. After two years he would receive a liberal arts associates degree from the university. As long as he kept his grades to a C, he would transfer to the "main campus" and finish out his Bachelor's degree. To boot, the associates degree is paid for by the State, as long as you keep your grades at a high C. If not, you are only looking at $4,000/year.

The State will also pick up the tab for the community college students (for a two year degree in whatever they choose, I think). For both programs, the requirment is that you must go right out of high school. It is pretty freaking amazing.

And yes, when I made the statement about college funding/retirement funding, I was speaking about parents with children who went straight to 4 year schools, not those who started at community colleges.

[Ginger]

Originally Posted by DapperButch

I agree about going to community college first. Our son (TF's son), was successful in getting a deal with our local university. Although his classes were held at the local community college, he was a university student. After two years he would receive a liberal arts associates degree from the university. As long as he kept his grades to a C, he would transfer to the "main campus" and finish out his Bachelor's degree. To boot, the associates degree is paid for by the State, as long as you keep your grades at a high C. If not, you are only looking at $4,000/year.

The State will also pick up the tab for the community college students (for a two year degree in whatever they choose, I think). For both programs, the requirment is that you must go right out of high school. It is pretty freaking amazing.

And yes, when I made the statement about college funding/retirement funding, I was speaking about parents with children who went straight to 4 year schools, not those who started at community colleges.

That's really great, Dapper. Oftentimes, kids get better academic supervision and mentoring at community colleges. And the cc's that are part of a large university system are protected from becoming workforce development factories and continue to develop their liberal arts offerings. Also, professors at "good" community colleges encourage students to compete in things and attend conferences that are traditionally dominated by 4-year schools.

And in the end, it's the bachelor's degree and beyond that matters, IMO.

[DapperButch]

Originally Posted by IslandScout

That's really great, Dapper. Oftentimes, kids get better academic supervision and mentoring at community colleges. And the cc's that are part of a large university system are protected from becoming workforce development factories and continue to develop their liberal arts offerings. Also, professors at "good" community colleges encourage students to compete in things and attend conferences that are traditionally dominated by 4-year schools.

And in the end, it's the bachelor's degree and beyond that matters, IMO.

Yes, it is the bachelor's degree that matter, for certain. I also saw the mentoring that you speak of where TF's son was going. Excellent professors. It was a really interesting situation where they were University professors (employees of the local university), nestled within a community college. I understand the community college professors are excellent as well.

ETA: I realize my posts could be confusing as I am posting in a different area on the site about how TF's son is leaving for boot camp tomorrow. Although D was in the above program, he did not continue on that path. He was in it for one year (last year).