university costs
Mar 9th 2005, 3:30 pm
#1
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university costs
Hi we moved here in July 04 with our 2 children aged 12 & 9, i'm not sure whether we'll stay or not but i'm sure on the chance we do we should start to make some kind of provision for them going to university, does anyone have any suggestions, we did take out plans at home when they we're born which we are continuing but i can't imagine they'll cover the cost here so any advice would be great.
Mar 9th 2005, 3:36 pm
#2
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Re: university costs
Kind of depends on what visa your here on, and all that as to what kind of student loans and grants you'll be able to apply for...also, some of them depend on which schools you go to, which states your in, if the uni is in state etc...
Not much help there really, but just things to look out for as well
Not much help there really, but just things to look out for as well
Mar 9th 2005, 3:41 pm
#3
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Re: university costs
Originally Posted by Bob
Kind of depends on what visa your here on, and all that as to what kind of student loans and grants you'll be able to apply for...also, some of them depend on which schools you go to, which states your in, if the uni is in state etc...
Not much help there really, but just things to look out for as well
Not much help there really, but just things to look out for as well
Mar 9th 2005, 4:11 pm
#4
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Re: university costs
Have a look at these sites:
http://studentaid.ed.gov/PORTALSWebA...lish/index.jsp
http://www.college-scholarships.com/
There's also a whole bunch of books (but check your local library first - they'll have stacks of books about college...)
http://www.amazon.com/exec/obidos/se...185780-3301601
http://studentaid.ed.gov/PORTALSWebA...lish/index.jsp
http://www.college-scholarships.com/
There's also a whole bunch of books (but check your local library first - they'll have stacks of books about college...)
http://www.amazon.com/exec/obidos/se...185780-3301601
Mar 9th 2005, 4:13 pm
#5
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Re: university costs
You can set up "trust funds" to cover costs of university. Talk to your bank or financial adviser and see what they offer.
Mar 9th 2005, 4:32 pm
#6
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Re: university costs
Originally Posted by Duncan Roberts
You can set up "trust funds" to cover costs of university. Talk to your bank or financial adviser and see what they offer.
It's very complicated - there's probably a dozen books on this topic alone...
Mar 9th 2005, 5:03 pm
#7
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Re: university costs
What about Uni in Britain? When do you kids qualify/not qualify for British fees?
Mar 9th 2005, 5:24 pm
#8
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Re: university costs
Originally Posted by britchicknyc
What about Uni in Britain? When do you kids qualify/not qualify for British fees?
Mar 9th 2005, 5:42 pm
#10
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Re: university costs
Presumably you want to cut your tax bill while saving for kids' education. Here are some starters:
Coverdell education savings account - http://www.irs.gov/newsroom/article/...107636,00.html
529 plans - state sponsored - Google on individual states, but you can take one from any state
IRAs (all forms thereof)- http://www.irs.gov/publications/p970/ch09.html
Coverdell education savings account - http://www.irs.gov/newsroom/article/...107636,00.html
529 plans - state sponsored - Google on individual states, but you can take one from any state
IRAs (all forms thereof)- http://www.irs.gov/publications/p970/ch09.html
Mar 9th 2005, 6:32 pm
#11
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Re: university costs
Originally Posted by fatbrit
Presumably you want to cut your tax bill while saving for kids' education. Here are some starters:
Coverdell education savings account - http://www.irs.gov/newsroom/article/...107636,00.html
529 plans - state sponsored - Google on individual states, but you can take one from any state
IRAs (all forms thereof)- http://www.irs.gov/publications/p970/ch09.html
Coverdell education savings account - http://www.irs.gov/newsroom/article/...107636,00.html
529 plans - state sponsored - Google on individual states, but you can take one from any state
IRAs (all forms thereof)- http://www.irs.gov/publications/p970/ch09.html
Mar 10th 2005, 2:20 am
#12
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Location: Where bad things rarely happen in movies
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Re: university costs
Got our financial adviser to do some projections on costs for sending our 2 to uni here (they're currently 3.5 and 2 yo).
They took what I considered pretty crap assumptions - inflating todays uni costs at 5% (bet its a lot more than that!) and funds appreciating at 8 or 12% annually., and gave us figures for Harvard (who knows, maybe he has mummy's brains... ) and in-state uni. It worked out at $340kfor a 4 year course at Harvard, requiring $930/month/kid savings from now at 8%, or $640/kid/month savings at 12%. Equivalent figures for an in-state uni were $106k, 290/month, 200/month.
Poor little sods are gonna have to have mighty big paper-rounds to pay for that little lot!!
They took what I considered pretty crap assumptions - inflating todays uni costs at 5% (bet its a lot more than that!) and funds appreciating at 8 or 12% annually., and gave us figures for Harvard (who knows, maybe he has mummy's brains... ) and in-state uni. It worked out at $340kfor a 4 year course at Harvard, requiring $930/month/kid savings from now at 8%, or $640/kid/month savings at 12%. Equivalent figures for an in-state uni were $106k, 290/month, 200/month.
Poor little sods are gonna have to have mighty big paper-rounds to pay for that little lot!!
Mar 10th 2005, 2:25 am
#13
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Re: university costs
Originally Posted by Yorkieabroad
Got our financial adviser to do some projections on costs for sending our 2 to uni here (they're currently 3.5 and 2 yo).
They took what I considered pretty crap assumptions - inflating todays uni costs at 5% (bet its a lot more than that!) and funds appreciating at 8 or 12% annually., and gave us figures for Harvard (who knows, maybe he has mummy's brains... ) and in-state uni. It worked out at $340kfor a 4 year course at Harvard, requiring $930/month/kid savings from now at 8%, or $640/kid/month savings at 12%. Equivalent figures for an in-state uni were $106k, 290/month, 200/month.
Poor little sods are gonna have to have mighty big paper-rounds to pay for that little lot!!
They took what I considered pretty crap assumptions - inflating todays uni costs at 5% (bet its a lot more than that!) and funds appreciating at 8 or 12% annually., and gave us figures for Harvard (who knows, maybe he has mummy's brains... ) and in-state uni. It worked out at $340kfor a 4 year course at Harvard, requiring $930/month/kid savings from now at 8%, or $640/kid/month savings at 12%. Equivalent figures for an in-state uni were $106k, 290/month, 200/month.
Poor little sods are gonna have to have mighty big paper-rounds to pay for that little lot!!
And students in blighty complain about being a few k in debt! $340K! Stuff that! Its the Car Sales or Realtor routes for mine then!
disclaimer: Car Sales people and Realtors are very worthwhile jobs and are performed by very intellgent people. No realtors or car sales people were harmed in the making of this post. If stupidity continues please consult your doctor. Who did go to university. At great cost.
Last edited by ImHere; Mar 10th 2005 at 2:28 am.
Mar 10th 2005, 2:33 am
#14
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Re: university costs
Originally Posted by ImHere
And students in blighty complain about being a few k in debt! $340K! Stuff that! Its the Car Sales or Realtor routes for mine then!
Or Baconwhore?
Or Baconwhore?
Mar 10th 2005, 2:36 am
#15
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Re: university costs
Originally Posted by Yorkieabroad
Don't mind if I do - thanks!
