We learned that DD’s tuition is increasing next year, but her FA remains the same. It’s been a struggle this year, next year is going to be HARD. Do prices go up yearly at these schools or like once every few years? She is really enjoying her BS experience, and I want her to be there as long as she wants to be there, but honestly I don’t know that we could take another increase after this. I already work more than one job.
I’m very surprised that they are no increasing her FA. I thought that most school work on a percentage basis so if you are on X% aid you stay on that throughout your time there. It would still go up but only relative to your aid %. Is this something you can talk eurh them about or is it a done deal?
Tuition does increase yearly (and will for college too.)
I am also surprised that your FA stayed the same.
Went up every year for us! Really hard.
Appeal to the financial aid office. Be prepared to state why you need more dollars and most schools will work with you.
Like clockwork, tuitions will increase every year; the same will be true in college. Generally though, FA increases, although not necessarily to the same dollars or percentage. Speak to the FA office.
Thanks, we already signed the new contract and everything so I am sure it is what it is for the new year, but will keep it in mind to talk to the FA office next year if there is another increase. Honestly, school has been a LOT more expensive than we thought it would be once all the incidentals and travel are added in.
I would LOVE your help in understanding the hidden costs. (Assuming we get good news on Saturday, that is…)
Our experience: Choate tuition increased from $48K to $52K during ChoatieKid’s time there. Our annual cash outflow after all travel expenses, fees, sports-related costs, and miscellaneous ranged from $50-58K per year. The school’s sticker price was merely a suggestion.
I see tuition/fees at Choate are now at $57,420. Yikes.
Tuition went up yearly for my D and I think her FA only went up once. She attended all four years.
Base or starting point might be better terms than suggestion. Suggestion implies that one can pay a lower amount and still attend. Like the suggested admission price for the Metropolitan Museum of Art is $25, but a NY resident can pay less and still enter.
Our FA increased each year in sync with tuition increases.
Some of us pay full sticker price. Have to have two jobs each to do it, but nonetheless, it hurts. Our daughter’s small LAC with room and board now is something like low 70’s per year. Given what we pay in taxes, it’s like one of us is just working for her to attend college. Ouch!
Re hidden fees: Some schools (including my kid’s) have additional fees not included in the tuition amount published on the website… like Health Services fee, Technology fee, Consolidation fee… those can be a bit of a surprise when you get the first year’s bill. Sometimes I’d get calls from my kid like this: “Mom, the (insert sport here) team is having special hoodies/jackets/whatever made for us, they’re $75, can you add money to my account?” And some junior/senior year expenses I hadn’t planned for: the class ring, the 8 nice dresses for the numerous “tradition” events for seniors (more common at all-girls schools), etc.
Not exactly hidden expenses, but some that I wish I’d thought about sooner and started saving for during freshman year: the testing and application fees for colleges! And those road trips. We visited 20 schools during junior/senior year and those travel expenses really added up quickly. (We had a blast, and it was worth every penny, but still!)
Just a little sarcasm, @skieurope, but you are correct.
Choate has maintained one of the lowest tuition increases across prep schools in general. This coming year marked the first significant increase in four years.
Exeter went up $3000 this year. $2000 the year before. Quite obscene.
I read an article somewhere that predicts larger increases in private school tuition over the next year or two due to the change in 529 rules.
Our FA raised along with the tuition last year, though not at the same percentage. I did end up having to pay a bit more out of pocket, which is a little hard considering the additional costs everyone else has outlined. I’m a single Mom, I live in a rural area, and I make far less per year than what the full tuition costs. It’s a struggle, but completely worth it to have her there!
Deerfield is going up by about $1,300 in 2018-19 and I don’t think all that much if any the year before.