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Final College Payment Today! Total: $90,045
Old 01-08-2009, 09:19 AM   #1
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Final College Payment Today! Total: $90,045

All done with paying for college! DD is now financially independent from us.

We have champagne in the fridge, and will drink it tonight.

Note that the cost went down after the first year, since we used up money saved in DDs name, making her eligible for more financial aid.

CollegeSpending.jpg
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Old 01-08-2009, 09:25 AM   #2
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You're a wonderful dad, Al.

Parting with that kind of money was surely an agonizing and excruciating experience for a frugalista like you. I hope your DD appreciates the gut-wrenching financial sacrifice you made to give her an education. But don't hold your breath.
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Old 01-08-2009, 09:27 AM   #3
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Congratulations, Al! Our younger son graduates in Dec.2009. We've made the payment for the Spring semester and we have one more due in August for the Fall semester. Our costs are lower because he's going to a state school and commuting.

Have a nice time tonight. You two deserve it.
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Old 01-08-2009, 09:38 AM   #4
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Congratulations ! Of things I've spent money on educating my children was the best !
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Old 01-08-2009, 09:51 AM   #5
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Congratulations to your daughter and you and your wife, Al.

I would have gladly spent the money if my boys had decided to complete their college education. I have offered to help if they decide to return, but I'm not holding my breath.

I know you are very proud of her, as you should be.
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Old 01-08-2009, 09:53 AM   #6
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Congrats! It is a real accomplishment to have a child graduate from college without having student loans.
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Old 01-08-2009, 09:55 AM   #7
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Quote:
Originally Posted by TromboneAl View Post
All done with paying for college! DD is now financially independent from us.

We have champagne in the fridge, and will drink it tonight.

Note that the cost went down after the first year, since we used up money saved in DDs name, making her eligible for more financial aid.

Attachment 5459
I heard that kids still need money in their 20's.........
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Old 01-08-2009, 10:18 AM   #8
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Congrats! It is a real accomplishment to have a child graduate from college without having student loans.
No, no, she has student loans as well.
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Old 01-08-2009, 10:33 AM   #9
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OK, I have to ask, given the cost, what school and what degree?
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Old 01-08-2009, 10:35 AM   #10
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Hot damn, good for you (and her!).
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Old 01-08-2009, 10:59 AM   #11
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Good going, Al.

We accumulated about 12 years of tuition for our two kids, starting just about the time I got my educational and practice loans paid off. It felt really good to have that over and done with. That's when I started seriously saving for retirement.

If I had it to do again, I'd probably have them incur some of the debt themselves but from my current vantage point it all feels good. Enjoy the champagne.
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Old 01-08-2009, 11:21 AM   #12
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Congratulations Al. That is a big step. I am nearly at the same place. DD is four credits short of graduation. I just sent $5k in to cover her last "course" which is actually an internship at the Smithsonian. DW is living at home and will graduate in May provided she satisfactorily completes the internship. Not quite independent yet, but close.
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Old 01-08-2009, 12:57 PM   #13
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Thats a lot of coin! I think I have under $10K in on my education, including my recent MBA. State school tho, not ivy league or anything fancy!
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Old 01-08-2009, 01:14 PM   #14
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Well, now I'm a little bummed out. With a college sophomore and a high school sophomore I have at least 6 years of tuition checks to write.

Eldest will probably not graduate in four years, so I'm guessing that the overlap year is going to really suck.

I would go ahead and buy the champagne now, but it will be so long before I can pop the cork to celebrate it will most likely have turned into vinegar.

Congrats Al. I'm jealous. Excuse me while I go look for the animated avatar of the guy banging his head against the wall.
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Old 01-08-2009, 01:25 PM   #15
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Originally Posted by TromboneAl View Post
All done with paying for college! DD is now financially independent from us.

We have champagne in the fridge, and will drink it tonight.

Note that the cost went down after the first year, since we used up money saved in DDs name, making her eligible for more financial aid.

Attachment 5459
Congratulations. And I hope that "financially independent" means that she has a job that will repay her student loans.
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Old 01-08-2009, 02:24 PM   #16
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What did you end up doing with her old bedroom? Inquiring minds. . . .
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Old 01-08-2009, 02:28 PM   #17
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Have you explained to her that she needs to send you 20% of all her earnings? And did you decided if this was pre or post tax.
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Old 01-08-2009, 02:52 PM   #18
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OK, I have to ask, given the cost, what school and what degree?
Wash University in St. Louis, biomedical engineering. No job yet. She turned down one $60K job offer, was turned down for another job, and is waiting to hear from some others. I don't think she'll have any trouble with the student loans.

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What did you end up doing with her old bedroom? Inquiring minds. . . .
It's currently an exercise room, with a stationary bike and rowing machine.
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Old 01-08-2009, 05:39 PM   #19
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Congratulations! Just curious, how did you draw the line between what you were willing to pay for, and what DD needed student loans for? Did you have a hard figure that you'd decided you could afford, and she was on the hook for anything beyond that?

DW and I have been having conversations about how we'll manage this with our kids (currently 4 and 2), and I'm interested in hearing what others have done.
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Old 01-08-2009, 08:05 PM   #20
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Congratulations! Just curious, how did you draw the line between what you were willing to pay for, and what DD needed student loans for? Did you have a hard figure that you'd decided you could afford, and she was on the hook for anything beyond that?

DW and I have been having conversations about how we'll manage this with our kids (currently 4 and 2), and I'm interested in hearing what others have done.
Easy, she took the maximum loans that were allowed. In addition I loaned her money, but for a graduation present, we will tear that up.

After the first year, she paid for all her food and other expenses through summer jobs and jobs during the year. She had several jobs each semester (tour guide, alumni contributions telemarketer, lab work).
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