Uni Costs in the US

[RPoo]

For those of you in the US, are college fees really around 60k USD per year and are you planning on staying there for that stage of your kids' educations?

TIA

The top private universities do cost that much per year (Ivy league, etc).

However, the public state universities cost about a quarter of that - and are much cheaper if you go to university in the state where you live (residents of each state pay significantly less to attend university in the state where they reside).

FWIW, many of the private universities have large endowments and offer significant financial aid to a good % of students who attend (for example, the large private university near me - which costs in the region of $60k per year - offers some form of financial aid to over 50% of the students enrolled). There are also many scholarships available based on financial need, academic/athletic/musical prowess, and there are also quite a few general scholarships which must be applied for.

Yes and in order to benefit from the reduced expense of state universities, you must be a resident. Non residents pay a significantly higher tuition. Financial aid is available as the above poster mentioned, but it is incredibly and increasingly difficult to qualify for.

Don't forget that most degree courses are four years, rather than three!

A few interesting articles on the subject:

www.cnbc.com/id/100975171

www.cnbc.com/id/102056583?trknav=homestack:topnews:9

Yes, private colleges really do cost that much, I have five DCs, three of whom are either graduates (DD1) or still in the thick of college (DS and DD2) and two more DDs to go.

Federal financial aid is not available to nonUS citizens, but institutional aid is available. There is lots of form filling and tax document production associated with financial aid and if you are planning to send your DCs to university in the US, you should get familiar with what is on offer and how to get it. Most high schools are happy to provide all sorts of resources to parents who ask. Most families earning less than $150K will qualify for at least a little aid and the aid offered can be significant the lower your income is.

The DCs are all US citizens and qualified for federal financial aid. DD1 had a job throughout her undergrad years at a private university and managed to pay off one of her federal loans before graduation. She owed about $12,000 at graduation but got a job that will make that very easy. DS is at a state school and has a free ride, between financial aid and scholarships. DD2 is at a private university and will owe about $20K when she graduates as she is not paying off any of her loans as she goes -- this could change if she gets her head screwed on.

Thank you everyone. Very helpful.