Leonidas
Thinks s/he gets paid by the post
Just got back from Tulsa where we dropped off the oldest kid at TU. Along with a hefty chunk of cash for tuition, housing and meals. As he was the first I learned a few things about saving $$ along the way.
Meals plans - All students who don't live in the metro area have to live on campus, and all freshmen and sophomores living in dorms must sign up for a meal plan. They range from minimal to extravagant. I took a hint when the admissions people strongly urged me to go with the cheapest meal plan allowed. I figured if people at the school were steering me away from the more expensive options that those must be incredibly wasteful - they certainly were expensive. The ability to put cash into his student account, that he can use at snack bars and other dining options, provided flexibility. We'll have to see how that works out, but with milk at all time highs and my son having a gallon a day cow juice habit I think I'm coming out ahead in that department.
Health Insurance - Getting into bed with a college or university is the same as any other financial relationship you find yourself in. They all have multiple profit centers and financial relationships with service providers. You are quickly bombarded with offers for things you never thought you might need. One of the many pamphlets I received was for student health insurance - $900 a year.
Thanks to my former employer I get to keep my health insurance at employee rates for five years, and kids under 25 who are full time students can stay under the parents' policy. However, with BC/BS HMOs you are limited to the service area - and Tulsa is way the hell out of our service area. He would only be covered for emergencies and accidents under the HMO, and the University health center would only take care of minor ailments but no prescriptions, OTC medications, or outside tests.
I reviewed our policy three times and found no option - so I called the BCBS customer service people and asked them for advice. Lo and behold, there is a program called "Away from Home Care" for students out of the service area. You fill out an application and they assign him on a temporary basis to another BCBS HMO in the area where he is attending school. At no additional cost!
Renter Insurance - Another pamphlet arrived for insurance for loss or theft in the dorm. Concerned about the loss of an expensive laptop that might walk off I called my insurance company and found that he would be covered under my homeowners policy - again at no additional cost.
Compared to the costs of tuition and housing these savings were small, but I think I saved at least $2,000 by not buying things I didn't need - but that the University tried to sell me.
Meals plans - All students who don't live in the metro area have to live on campus, and all freshmen and sophomores living in dorms must sign up for a meal plan. They range from minimal to extravagant. I took a hint when the admissions people strongly urged me to go with the cheapest meal plan allowed. I figured if people at the school were steering me away from the more expensive options that those must be incredibly wasteful - they certainly were expensive. The ability to put cash into his student account, that he can use at snack bars and other dining options, provided flexibility. We'll have to see how that works out, but with milk at all time highs and my son having a gallon a day cow juice habit I think I'm coming out ahead in that department.
Health Insurance - Getting into bed with a college or university is the same as any other financial relationship you find yourself in. They all have multiple profit centers and financial relationships with service providers. You are quickly bombarded with offers for things you never thought you might need. One of the many pamphlets I received was for student health insurance - $900 a year.
Thanks to my former employer I get to keep my health insurance at employee rates for five years, and kids under 25 who are full time students can stay under the parents' policy. However, with BC/BS HMOs you are limited to the service area - and Tulsa is way the hell out of our service area. He would only be covered for emergencies and accidents under the HMO, and the University health center would only take care of minor ailments but no prescriptions, OTC medications, or outside tests.
I reviewed our policy three times and found no option - so I called the BCBS customer service people and asked them for advice. Lo and behold, there is a program called "Away from Home Care" for students out of the service area. You fill out an application and they assign him on a temporary basis to another BCBS HMO in the area where he is attending school. At no additional cost!
Renter Insurance - Another pamphlet arrived for insurance for loss or theft in the dorm. Concerned about the loss of an expensive laptop that might walk off I called my insurance company and found that he would be covered under my homeowners policy - again at no additional cost.
Compared to the costs of tuition and housing these savings were small, but I think I saved at least $2,000 by not buying things I didn't need - but that the University tried to sell me.
