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Tuition and Housing Details

March 22nd, 2015 at 07:50 am

My last post was about the generous scholarships my daughter is getting for attending the university she has chosen. I thought I'd detail the costs a bit more.

Tuition for 15 credit hours, two semesters (this is a public institution)
In state $6,480
Out of state $20,400

Fees (same for both)

Housing (required the first year)

Total $32,051 (for out of state)

At this point she has $20,000 in scholarships for the first year! So we are paying fees and housing/food and of course books. Her current investments for education equal $24,606. So we have the money to cover those costs. She will eventually use some of my husband's Post 911 GI Bill benefits, which will cover two years in state tuition and housing. We will give the other two years of benefits to her sister.

We are definitely feeling very blessed knowing that our daughter has earned such great scholarships based on her hard work and talent, that our investments have helped take some of the financial burdens off the costs, and humbled by the offer of financial benefits for our children by the American people for the sacrifices we have made to protect this country. It's not a small thing and we appreciate it all.

8 Responses to “Tuition and Housing Details”

  1. Rachael777 Says:

    I am happy our country provides for our military in this way. Smile

  2. LivingAlmostLarge Says:

    yeah! So with $24k and GI bill is she walking out for free?

  3. FrugalTexan75 Says:

    That is sweet!

    But man, what a HUGE difference between in state and out of state!

  4. creditcardfree Says:

    LAL, since Post 911 GI bill will cover half of tuition and half of housing for four years, that leaves us with two years to pay. She is almost to free for tuition for her first year, but still about $2K short, and yes we can pay that with the investments. And the remainder could go for another year in the dorms...so we might have at least one year of tuition to pay depending on future scholarships. The other caveat is that she is a double major and it may be hard to get all the work done in four years...so that could add to some of the cost of tuition and definitely housing. But if that is all we borrow or need to pay out of pocket we are doing really well. I also expect she will get a very part time job and we might put any loan of $6-$8K on her. Not sure on that yet.

  5. chloe Says:

    This is awesome! It's great that between your daughter's hard work/talent and your family's service that you will mostly be able to cover her college costs. Is it likely she'll get the same (or similar) scholarships for her second year? Do they renew?

  6. creditcardfree Says:

    The only one that renews is that big one...worth $56K or $14K per year, which if I was going to pick any to renew that would be the one. Smile

  7. CB in the City Says:

    Did she get any scholarship that is funded by an individual donor? If so, it is likely the school's development office will prompt her to write a thank you letter -- it's a really nice way to express appreciation and makes the donor feel special!

  8. creditcardfree Says:

    @CB, so far none of them seem like one from an individual. But if she does get one in that regard or we learn differently we will send a thank you...because they sure deserve one!

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