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Financial Planning / Paying For College

URL:  http://boards.fool.com/learning-new-strategies-30190201.aspx

Subject:  Learning New Strategies Date:  8/7/2012  6:07 AM
Author:  inparadise Number:  7971 of 8153

As we prepare to send Eldest off to the start of his college career, we are learning some new strategies towards paying for college. Our local alumni association had a fantastic send off party where incoming freshmen and their families got to ask questions and receive recommendations from existing students and graduates. Wow, what an education.

Two major pieces of information may only be applicable to the school Eldest is headed off to, paying out of state tuition rates at Georgia Tech. I don't know how much of this will be school dependent, and of course things can change, but sometimes it simply helps to know to ask certain questions.

GTech is a great value for in state students, almost twice the cost for out of state. And of course, getting financial aid at a state college when you are not a resident is near impossible. Much to our surprise, if you study at one of their overseas campuses you pay in state tuition no matter where you come from. That is a significant savings.

It is also a school that encourages coops and internships, which for Eldest's program at least tend to be very well paid, and of course bring fantastic resume material and exposure to potential future employers. I was happy to learn that there are almost no fees incurred when employed this way, unless the student is staying in the dorms in Atlanta or continuing to take classes. We will happily let him do as many internships as he wants/can do, particularly since he is pretty young and the delay will most likely be more beneficial than not in getting decent employment. It will also ensure that his brother is in school at the same time for some of the period we have to pay for Eldest, which makes it more likely we will get some financial aid.

So this may or may not help, but it at least gives you a couple of questions to ask.

IP,
a bit insane getting all our ducks in a row for the big move in
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