<p>We are planning to send our S to boarding school form his 9th grade. While reading the forums and top notch boarding schools' info we understand that the BS tuition fess are between 38K to 48K. My question is How much extra budgest we should be prepared for? (Excluding emergencies)
Based on the income and savings we have; we think we can afford around 40 K per annum for sure. Anything more than that will be a real stretch. This stretch can be done by borrowing or getting it from liquidating the assets/ stocks.
Some forums mentions using 1.5 multiplying factor for all expenses related with extra curricular activities , air fare (four times) , clothings etc.
Can any one share first hand feedback on "TOTAL EXPENSES INCURRED" for their children for the BS like Exeter , Andover, SPS, top BS schools?</p>
<p>$60,000 per academic year.</p>
<p>Assume - if you do everything that on top of tuition:</p>
<p>4 round trip tickets home
books and technology fee (approx $1,500)
allowance and misc. dorm and school fees
$2,000 for overseas trips, etc.
cost for at least two trips to parent day if you live out of state</p>
<p>And to drill down a bit more, for allowance, our d’s school recommends “no more than $20 per week,” but then there’s the bookstore “SmartCard” account, from which there are various levels of restricted and unrestricted expenses (everything from coffee and snacks to school supplies, etc.)… which can add another $20 or more per week; so call it another $1200 for a school year’s worth of weekly expenses, and that’s assuming your kid does his or her own laundry. If s/he uses a laundry service, which some schools encourage (not our d’s), add another $500 or so a year.</p>
<p>Depending on your actual financial situation, it sounds like you will require at least some financial aid. But if that $40K is your upper limit, keep the additional expenses in mind when you are working on your PFS… the amount you can afford for tuition will be reduced by this amount. Most schools do take into account some travel expenses, if you live at some remove from the school.</p>
<p>For another data point (school in driving distance, no international trips, no music lessons) on the lower end of things:</p>
<p>SAS builds in a books allowance into tuition…so no line item there.
Also no laundry service and free washer/dryers on campus.</p>
<p>So…
$500 student spending money
$100 sporting equipment (rowing unitard, etc.)
$400 for parent weekends hotels (2 nights a year)
$300 for parent weekend meals (2 dinners for 4-6 people)
$500 clothing (will be higher if building wardrobe from scratch)</p>
<h2>$200 misc.</h2>
<p>$2000 total</p>
<p>I could argue that student spending money and clothing would be incurred even if student was at home…so as low as $1000/year?</p>
<p>Hmmm… good points about spending money. Some of what goes IN to allowance comes OUT of monthly grocery bills (like toiletries and other basics). </p>
<p>You mentioned no music lessons, but I don’t think anyone mentioned what they might add… If your kid takes individual music lessons, add $1200-$1500, depending on the school. Of the 14 schools we looked at, only Hotchkiss included music lessons within their tuition.</p>
<p>Some schools, like Exeter, also have a sliding scale of student contributions for various add-ons (like music lessons), for families receiving ANY amount of FA. Usually the discounts are based on the percentage of FA to full tuition (so if you receive 20% FA, expect similar reductions in certain services). I do NOT think this is common, though some schools also have funds set aside to assist FA students with other items. Our d’s school has an “opportunity fund” that can help pay for the cost of ONE overseas (or across-the-country) trip in a four-year career, for example.</p>
<p>As you can see from just a few posts, your mileage may vary. </p>
<p>Note that my D does take music lessons, but I wanted to give an example at the lower end of the spectrum…so people could see that incidentals don’t have to add up to 5 figures – on top of tuition. </p>
<p>That said, I could easily see it running $10k or more for families who have to fly or if kids go on cultural/service trips and take individual music lessons.</p>
<p>FWIW, the SPS site lists “Estimated additional expenses $2,550” in their Financial Aid FAQ. Also, SPS has/had at least one regional scholarship (the Ross is for NJ area students) that includes a stipend to cover these sorts of costs…but then again, what do I know about that school.</p>
<p>Budget for tuition increases in future years. If tuition and fees don’t increase, that’s great. If they do increase, you have a cushion. At the very least, you can use any such “found money” to college visit travel expenses.</p>
<p>Just saw this on SAS site (was not in FA section): “Estimated personal expenses: $1,500”</p>
<p>Athletic teams (like Crew) travel to warmer climates to train during Spring Break. Many schools plan school trips during Spring Break, too. I know these excursions are sometimes underwritten for students, but they can cost a tidy sum. Obviously not mandatory, but something to consider… or brace for.</p>
<p>It really does vary wildly depending on how far you live from the school and how the school handles things like laundry. Travel is the kicker for us–between parent visits and getting him home, it’s close to $3000 a year–and that’s only because we constantly seek out discounts. </p>
<p>On the upside some schools, like Exeter, will give a stipend for books, supplies, and computers to students on FA. </p>
<p>Laundry is an expense too (maybe $850 between mandatory and optional programs. We could maybe get away with $350/year if son did his own laundry (there’s a mandatory linen fee)–but he’d be very wrinkly and probably stale smelling from clothes left too long in the washer. At a school with a less formal dress code, we’d have him do it himself. </p>
<p>So far, team costs have been surprisingly low. But I think that Exeter teams are pretty conscious of the high percentage of FA students, and don’t–for example–plan pre-seasons in expensive places. Or trips are subsidized by the school or kind donors/parents. </p>
<p>So it really does depend…</p>
<p>Personal expenses, clothing, general team gear costs are probably about the same or cheaper than home. Thrift stores and outlets rock for men’s dress clothing!</p>
<p>And we save a LOT of money on food. :-P</p>
<p>…and gas to commute to and from activities. I think my gas costs are about half what they were before, which is not inconsiderable.</p>
<p>Non-discretionary expenses
- airfare/travel costs for Thanksgiving, Winter, Spring & Summer Break (dorms are closed)
- ground transport cost from the school to the airport
- dress-code appropriate clothing
- sports gear
- cellphone costs (many schools don’t have phones in dorms)
- laptop & IT fees</p>
<p>Discretionary expenses
- laundry service (w and w/o drycleaning)
- airfare/travel/hotel for parents for Fall & Spring parent weekends
- special occasion clothes (dances & costumes)
- special school trips/ athletic training camps during breaks
- holiday trips w friends during breaks
- private music lessons
- allowance (enough to cover toiletries/supplies, pizza delivery, taxis, extra clothing, etc)</p>
<p>Some schools have on-campus credit accounts for the kids to use at the school supply store and cafes</p>
<p>More possible, not so obvious expenses, although they are not necessities, but just to factor in:</p>
<p>dorm wear/team wear, etc. - different dorms, clubs, sports teams like to order customized jackets, sweatshirts, or t-shirts: $100-200/year</p>
<p>Spring break service/language/cultural trips: $2,000-3000. If on FA, this is often prorated by the percentage of FA your student receives.</p>
<p>Transportation/spending money when you child is invited to another child’s home/vacation spot: $?</p>
<p>Contribution to Parents’ Annual Fund: $?</p>
<p>Preseason sport’s camp and related transportation: $500-1000</p>
<p>I travel to my daughters school at least once a month from September-February (several of those months are twice/month). It costs me between hotel, gas, food (we eat inexpensively) and boarding the dog $400/visit. </p>
<p>If your child is in a school play are you going to want to attend? If they play a sport are you going to want to attend games? If they are in a music concert are you going to attend?</p>
<p>Don’t forget as they enter the college application season the campus visits, accepted student visits, orientation, test and score fees, application fees, transcript fees, SAT/ACT prep. These will likely be similar at home or in BS, but they can really add up at a point when the till is depleted in senior year, and college costs may be looming.</p>
<p>Bumping thread for taurusmom.</p>
<p>Exeter add-on expenses for non-financial aid (financial aid covers a large part of many of these expenses):</p>
<p>1) computer
2) about $300-500 a term for books. 3 terms a year.
3) about 30 dollars a week for Amazon orders (printer ink, paper, munchies), food items, little mall expenses, a movie, coffee shop, LionLinks card snacks, trips to Boston on train, birthday cards for friends. This can be trimmed, but that is our Ds average.
4) Round trip transportation 4 times a year
5) summer storage/shipping costs
6) AP, SAT exam fees
7) sports equipment
8) family weekend hotel, food, travel for family
9) college visit expenses during vacation time
10) music lessons
11) medical co-pay and deductibles
12) warm boots and a coat if you don’t already have. Clothes are variable, but most students wear JEANS. Ignore the e-book on girl’s clothing rules. Do not buy fancy clothes.
13) The laundry service. A huge help.</p>
<p>Don’t forget SAT/ACT prep courses, other summer programs, optional travel/trips like spring break</p>
<p>The annual cost for boarding students varies from school to school and facilities you are opting. However the least expensive boarding school for day students may range around $23,300 per year for day students. However, the most affordable boarding school can be around $29,550 per year for boarders.</p>
<p>@eileen12: This thread was more about the “non tuition/room&board” costs of BS…what some might called “hidden” costs.</p>