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To: Modernman

Even in-state schools run close to 20K when you factor in books and fees. Penn State's tuition is 10K, and room/board is 8K. Add in about 2K per year in books. You think a middle-class family has 20K per year extra to spend per child, over 80K for 4 years ?


132 posted on 08/02/2005 12:04:45 PM PDT by cinives (On some planets what I do is considered normal.)
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To: cinives

You forgot to add in the subsidy paid by the taxpayers. State colleges aren't any cheaper than private colleges, they just send the bills along different routes.


135 posted on 08/02/2005 12:07:58 PM PDT by GovernmentShrinker
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To: cinives
Even in-state schools run close to 20K when you factor in books and fees. Penn State's tuition is 10K, and room/board is 8K. Add in about 2K per year in books.

The $8K a year is kind of misleading. Unless the kid lives at home (which, BTW, is an option for many students, too), he is going to be spending that much on room/board anyway. So, the 8K isn't an additional expense.

You think a middle-class family has 20K per year extra to spend per child, over 80K for 4 years ?

I'm assuming they've put something away during the first 18 years of their kids' life for a college fund. Even on the low end, assume they put away $1K per year for 18 years. Let's say that has grown to about $30K (it would probably be higher, but I'm being conservative). Even with your numbers of $20K/year, that really only leaves about $50K for them to pay. Let's say they can put another $5K a year in and the kid can work during the four school years for a total of $10K (again, probably on the low side).

You're left with $20K that needs to be taken in loans.

So, well within the means of the average middle-class family, with a little planning.

140 posted on 08/02/2005 12:22:59 PM PDT by Modernman ("A conservative government is an organized hypocrisy." -Disraeli)
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