<p>Well....we told our kiddos that we will pay for four years of undergraduate school. BUT with DS, we said that if he got his undergrad degree in music performance from a university, we would help him with his masters from a conservatory. That is the route he is taking. What were we thinking????</p>
<p>We told our kids we'd pay for undergraduate and we might help with grad school but expected them to contribute as well. Kid #1 might eventually decide on law or business school. Kid #2 will probably never want to go to school again! And kid #3 is only a high school junior.</p>
<p>I wonder if the folks who do plan to spring for grad school don't want to post on this thread. I know I have friends older than we who say they can't retire (H is alredy retired) because they figure grad school is coming, plus wedding-with-the-Vera-Wang-dress... </p>
<p>Add to that the very real expenses of parents ready for assisted living and they feel caught in a bind. Part of that bind seems to me of their own making, and I am glad to find support for our pov from so many posters here.</p>
<p>Like many universities, our son's department haa a program where he may work toward a combined BS/MS degree. Often this is not possible to complete in 8 semesters, but our son would be able to do it in 9 semesters with the 16 AP credits he received. These programs almost always require admission into the graduate program, so the student would need to maintain a decent GPA. I'm not certain about the GRE however. I do not recall RPI requiring that in the combined BS/MS program.</p>
<p>In addition, because he is a compsci/cogsci major, it is very likely that he would be offered a TA which would pay for tuition that 9th semester. </p>
<p>At most graduate schools, a vast majority of science/engineering PhD students are offered TA, RA or various fellowships which cover tuition plus in some instances a stipend.</p>
<p>So, to answer the OP question, no we do not plan on paying for grad school other than to maybe help out, no pay for in toto, with room/board. PhD program, for which he is not now inclinded, is his own baby.</p>
<p>The sandwich generation begins (or continues!) stuffing their bread. VERY good point, jmmom, and one that is ever more relevant to the discussion. Some of us <em>DO</em> need to factor into our financial equations the added responsibility of elder parent care while also planning for our own retirement. While I like to joke that as soon as the last undergrad tuition bill payment is in the mail, I hand in my resignation at work, a much more careful analysis at that point will reveal how soon we can make those paycheck-changing career changes.</p>
<p>We are planning to partially underwrite one S's grad program (M.A.), and all of the other S's undergrad studies. Most likely, S#2 will get some kind of fellowship in grad school, so we hope we won't have to spring for it.</p>
<p>In general, I agree with Cangel; we will pay for undergrad. Our two are (currently) headed for science/engineering/CS degrees, so we are thinking they will be able to get TA/RA support (with tuition remission) in grad school. If that's true, we would give some limited $ support to raise the standard of living (a bit), but we also see benefits to "living poor" in grad school, and then graduating and knowing that you want to work to raise your own standard of living!</p>
<p>As with many boomers out there squeezed by anticipated expenses, there is no retirement in our plans...just working as long as we can, and hopefully having fun along the way.</p>
<p>i feel really bad about how much US colleges cost... i will probably never attend one if that means my parents have to pay close to 40K a year... my only hope is finaid or a scholorship.. if not ill be spending my college years in cairo where ill surely get a full scholorship from any college there...but i dream of haveing a us education only to improve the gov. system in my country...i mean its kind of selfless right? However at the same time id feel bad taking even more money out of my rents' accounts i mean my high school tuition, travel expenses, mun confrences, athletic events... were enuf... actually even more then enuf!! as for grad school i would never dream of asking my parents 4 money for that...my dads stories of how he had to work and study ever since he was 16 make me feel like im a spoiled brat whos good for nothing.... but i still havent figured out how id be paying for grad schoool.. i suppose i could save money through haveing a job all my undergrad years... sighhh im sorry for posting here im no parent just thoguht id give my 2 cents bout the topic c if u all had any advice...</p>
<p>elodie, there are cheaper schools than $40,000 in the US. You should do some research and find out.</p>
<p>You may need to get a part time job to cut costs.</p>
<p>I think my take is we that we will cross this bridge when we come to it. Mercifully, D got her way paid in a doctoral program, including living expenses, but things may be different for the two S's. In any case it will only be a matter of trying to help out, as there will be only so much to go around. But since education is what H and I most value of this world's "goods" we will do what we can to assist with any schooling. (Also, we doubt sincerely we are raising doctors or lawyers, just academics and possibly ministers, I think.)</p>
<p>well the way i look at it is if i bother to go to the us at all then itll be for a good uni.. one of the tops that'll make a difference... if not then ill just go to a college here, because its better then going to a sec. tier school in the us + i wouldnt pay anything at all...and i wouldnt be goign through all the hasslle and id most probably be gettig a better education then one offered in a mediocre us school..</p>
<p>It's odd reading this thread, because I have guilt feelings about the fact I'm not paying for all of my older kid's law degree. The parents are paying about 55 % of the total bill. Kid is paying the rest and borrowing to cover most of that. Add in very expensive flights to see the significant other, and kid will be in debt about $75,000 or more on graduation day. I think that's enough. I feel guilty that the parents aren't covering all the cost, but that's the way it is. </p>
<p>However, kid may well go into a low paying public interest job, in which case, given the generous loan forgiveness policies of the law school, kid may never end up having to repay the educational loans--but there will be credit card debt for living expenses, especially those trips to see signifcant other. (Those I have NO guilt about not paying for.)</p>
<p>No debt for undergraduate.We parents did foot the entire bill--the full sticker price at a top college. I'm bragging, but kid did well..which, of course, earned the acceptance at a top law school among the exalted few which gives no merit money. </p>
<p>Almost all her friends who are going on to top med and law schools are getting financial help from parents, if they can afford to help. Amounts vary, but most folks are helping at least some. A lot of "we'll pay half, you pay half "cases among her friends.</p>
<p>reasonable dad - I really like your point about "living poor" in grad school. My brother did not go to college and never did understand the concept of deferred gratification. He expected to live in a similar neighborhood/house to the one we lived in as our parents' "move-up" house. So, that's what he did. Obviously, he couldn't afford to buy one, so he rented. High rents and costs of living the lifestyle in every other regard meant he never has been able to save. He finally bought a house in a less expensive vacation area (he is now 50), but he will be working until the day he dies. Or maybe his DD and DS, now in college, will support him. One thing he has been is a top-drawer dad.</p>
<p>jonri -
my niece is paying off her law school debt (160,000) in good order. Very well paying job, and, most importantly, she has avoided justing suckered into the trap of buying stuff (leather sofa seem to be popular items). She is still driving her Ford Ranger pickup. Law school was a gamble, but she (unlike the clueless young woman in the article) will be ok - and, most importantly, she loves her work. </p>
<p>Due to your help, your son will only be in up to his chin in debt - so dont' fret. Just tell him... no leather sofas!</p>
<p>We had to tell both of our kids that we would do everything we could for 4 years - and that grad school was on their dime tho - our college $$ committment covers many years as they are far apart in age.</p>
<p>DS got thru college with about 1 years worth of dept to pay back - private LAC - but on to grad school for FREE!!!!! - such a deal!! and on the schools dime - thank goodness and God Bless the boy!! haha. </p>
<p>Our DD will most likely not be a grad school kinda gal - very different from her big bro - out-of-state Univ. - tho she may surprise us - she will come out of college tho in debt - a bit more than her bro - but she has ''plans'' to see the world - at least part of it - so if she goes on to grad school - it will be up to her.</p>
<p>If I am flush and S needs assistance beyond room and board during breaks, I would provide it gladly, insofar as my personal financial goals are on track. I believe S's responsibility is to make darn sure that he does very well in college so that he can obtain a fellowship, or if not, a TA or RA position (free tuition + a pittance of living expenses). There are also some medical school full scholarships (as I know from parents of students who got them), even for MD/PhD programs.</p>
<p>I was a poor grad student TA. Shared apartments with other students, "furnished in early poverty," got a couple hundred a month from my parents to keep the wolf from the door. Not a bad life for a few years, and it is a definite incentive to strive for reasonable wages after attaining that degree!</p>
<p>i was told my parents would help me pay for 4 years of undergrad school. if it took me five years to graduate, that entire 5th year would be on me. same with graduate school. if, for some reason, i choose to go, it would be on me.</p>
<p>Actually, MD/PhD programs are often free, but many provide that you have to repay the cost if you don't complete both degrees. It's much easier to get funding for a MD/PhD than for "just" a M.D.</p>