My daughter and I talked today on the phone. She finally has internet access in her room, and wireless access all over campus. It was a hard week without it, but she made it. Class start Monday, so she is all set now. 
Since she could log in online she took a look at her billing statement. Tuition, fees, room and board for the first semester AFTER scholarships is $7,198.55. Scholarships amounted to $10,000. Room and board is the largest portion at $5,145.55. The tuition/fees for 18 hours came $2,044. Living ON campus is required for Freshman under the age of 19.
The bill hasn't actually been generated yet. The first bill is due September 12. I can pay in full with a debit card or check for no additional fees. If I use a credit card they add a 2.75% convenience charge. I can also make three payments, but need to sign up each semester for a $20 fee.
It's tempting to do payments, but I'm not sure it is absolutely necessary. I will be using her college funds to pay at least $5K. I would like to pay the remainder out of some of our savings and cash flow the remaining. It's the willingness to cash flow some of it that makes me interested in making payments.
I haven't thought it through much more than what I've written here. I will take a look at balances and see what I can do by September 12. I'm grateful for the scholarships and ability to pay this bill without student loans. So grateful!
Anyone else sending a child to college this semester? How much is your first semester bill?
First Semester Bill
August 22nd, 2015 at 09:02 pm
August 22nd, 2015 at 11:03 pm 1440281037
August 22nd, 2015 at 11:09 pm 1440281352
August 22nd, 2015 at 11:46 pm 1440283579
For example, if you take $5,000 out of a 529 college savings plan to pay for tuition you cannot use that $5,000 of tuition expenses to claim the American Opportunity Tax Credit also. This coordination of benefits provision is exactly why it helps to have a tax preparer who understands education funding so that you can make the most of the benefits that you qualify for.
August 23rd, 2015 at 12:15 am 1440285351
I don't see how parents do it, especially without scholarships. If I had a freshman today, s/he would go to the local community college and work, unless there was a full ride scholarship.
August 23rd, 2015 at 12:20 am 1440285631
Tuition - $4500 (after $15,250 scholarship)
Room - $2400
Board (285 meals) - $2750
Total - $9,650
August 23rd, 2015 at 12:57 am 1440287824
August 23rd, 2015 at 01:42 am 1440290565
August 23rd, 2015 at 01:51 am 1440291093
Too many people are going to college these days. The college degree is so ubiquitous that receptionists are required to have them. And students need to be counseled on the likelihood of getting good paying jobs if they major in English or journalism. Starry eyed 17 year olds are not able to understand the consequences of taking loans. Up-front cost benefit analysis should determine who gets aid and who does not.
August 23rd, 2015 at 01:52 am 1440291155
We do plan to use some of her Coverdell ESA. I realize this does not allow for a credit. No biggy, the money was saved and then earned tax free just for this. I will claim anything above the amount we take out since that will be from savings or current cash. It cost far less to save the money then it does to take on a loan. The goal is to end up with the least amount in loans as possible.
August 23rd, 2015 at 02:00 am 1440291607
Can your daughter qualify as in-state at some point and still get all or part of her scholarship?
August 23rd, 2015 at 02:03 am 1440291825
Someday her work could grace your ears or eyes...finding yourself in awe of the beauty she created. I've seen what she can do and it is up there with the best of them.
August 23rd, 2015 at 02:07 am 1440292076
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August 23rd, 2015 at 02:17 am 1440292676
August 23rd, 2015 at 02:21 am 1440292867
August 23rd, 2015 at 03:02 am 1440295335
In 1994 I tranferred to a california state u. The tuition and fees was $991/semester. Room and board for the semester were about 4k. My how costs have gone up!
August 23rd, 2015 at 03:47 am 1440298042
@Kiki - California State has only tripled its cost in the past 20 years. It's $3k per semester now. (Which is really in line with inflation; still extremely affordable).
August 23rd, 2015 at 04:14 am 1440299695
August 23rd, 2015 at 04:28 am 1440300511
August 23rd, 2015 at 04:58 am 1440302322
Believe me, that staggering tuition is NOT going to academic staff who teach most of the classes most places. The single biggest contributor to rapidly escalating tuition since the 1980s is the enormous cutbacks in aid to the universities from the government. And with a young teen, those tuition numbers make me very queasy.
August 23rd, 2015 at 07:25 am 1440311155
We are so lucky here in Scotland because we don't have to pay tuition fees. When I went to University back in 2002 I was entitled to the maximum amount of help in the form of a bursary because my mum had recently stopped working. I had the option of taking out a loan but I didn't. I stayed at home and travelled in so I didn't have to worry about rent etc. I remember spending a fortune on books.I was the only one out of my group of friends that didn't have any student loans. Two of the other girls that I was friends with that also still lived at home took out loans. However, they used them for their holidays (vacations), going out, helping towards getting a car. I always kind of thought that sometimes the Scottish students weren't taking it as seriously as the foreign students in our class - a girl from America, one from Norway and Russia. Maybe the fact that they were actually paying to be there? I don't know. It used to annoy me when I would leave really early to get there for a 9am class and some of the girls would come in, clearly not having been home yet, from the night before. Sorry I'm getting sidetracked.
August 23rd, 2015 at 11:25 am 1440325520
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August 23rd, 2015 at 09:56 pm 1440363380
I'm not really sure that she will live with relatives or not. She's really only close to one family that lives in town. They don't have an extra room. She doesn't drive (yet), so she either needs to figure the bus system
August 24th, 2015 at 01:33 am 1440376382
October 30th, 2015 at 04:56 pm 1446224189
October 30th, 2015 at 05:36 pm 1446226573