I started a thread asking how to lock-in the current value of the CAD vs USD, since DS is/was seriously considering a Canadian University. In going this process with him, he had a lightbulb moment. He realized he could save a lot of money (for all of us) by going to the in-state university and living at home.
We've committed to giving him a full ride at an in-state university. This includes tuitions, lodging and meals. The Canadian University he's looking at is going to be about 10k/year more, based on the current exchange rate. We figure that if he leaves with 40-50k worth of college debt, that's not too bad, especially if he gets a degree in compsci. He's been thinking about this and he realized that he has a great deal living with us. He gets a lot of freedom, he doesn't want to live in a dorm, and if he can get a compsci degree in-state he saves himself a lot of money with better employment prospects.
The biggest risk is that he doesn't get into compsci. I told him to look at other majors to see if there are good alternatives. This is one of the reasons he was looking at Canada. The Canadian University he's looking at is academically about the same as the in-state university. For the field of study he wants (compsci), the in-state university is much more competitive. For Canada, once you are accepted as a freshman, you're in your program of study, which is a big advantage. He's going to try for direct admission into him major for in-state, but it's unlikely he'll be immediately accepted.
I'm wondering what others think about going to university and living at home?
I've had the opinion that moving out for university is a great way for kids to learn how to be on their own, yet still be in a relatively safe environment. But presented with this option, I'm not sure it's worth 13k/year. DS is already independent. We've raised them that way and it's paying off for us. So I'm not sure how much benefit he'd have by living on his own. We've already told him that if he stays, he'll still have to live by our rules (our house, our rules), but that's really not a big deal for either of us. I'm curious to know what others think, especially those that had the experience of going off to college.
We've committed to giving him a full ride at an in-state university. This includes tuitions, lodging and meals. The Canadian University he's looking at is going to be about 10k/year more, based on the current exchange rate. We figure that if he leaves with 40-50k worth of college debt, that's not too bad, especially if he gets a degree in compsci. He's been thinking about this and he realized that he has a great deal living with us. He gets a lot of freedom, he doesn't want to live in a dorm, and if he can get a compsci degree in-state he saves himself a lot of money with better employment prospects.
The biggest risk is that he doesn't get into compsci. I told him to look at other majors to see if there are good alternatives. This is one of the reasons he was looking at Canada. The Canadian University he's looking at is academically about the same as the in-state university. For the field of study he wants (compsci), the in-state university is much more competitive. For Canada, once you are accepted as a freshman, you're in your program of study, which is a big advantage. He's going to try for direct admission into him major for in-state, but it's unlikely he'll be immediately accepted.
I'm wondering what others think about going to university and living at home?
I've had the opinion that moving out for university is a great way for kids to learn how to be on their own, yet still be in a relatively safe environment. But presented with this option, I'm not sure it's worth 13k/year. DS is already independent. We've raised them that way and it's paying off for us. So I'm not sure how much benefit he'd have by living on his own. We've already told him that if he stays, he'll still have to live by our rules (our house, our rules), but that's really not a big deal for either of us. I'm curious to know what others think, especially those that had the experience of going off to college.