<p>I'm a student, not a parent, but I've been having this discussion with my parents recently as to what they expect they can contribute. I'm trying to build a case for the amount they can contribute (since they can't seem to come up with a figure) towards my college.</p>
<p>I was just wondering, what things do you save money on with your child being away at college?</p>
<p>Well...first I will say that the money we are saving doesn't come CLOSE to the amount we are contributing to DD's and DS's private college educations. But we save significantly on electricity (about $100 a month less without the kids), food (about 1/2 the cost with them gone), car wear and tear (they aren't here to rack up miles on the car), costs of THEIR activities (no more piano or other music lessons, no more contributions to the school fundraisers, no more tickets to events, no parties for the band or swim team, no more contributions to the music program at school or the athletic program, no more costs for music festivals, etc). Also, now that our kids are in college, THEY pay for their own entertainment and their own clothing....we don't pay for that anymore (you, the student, would need to add that into YOUR costs if you are planning to deduct that from your parents). </p>
<p>In all, we are saving perhaps several thousand dollars. It doesn't come close to the $42,000 bill. </p>
<p>Sorry...I don't think that is what you wanted to hear.</p>
<p>Actually thumper, that's exactly what I wanted to hear. I realize that the amount doesn't doesn't come close, but I'm trying to gauge how much they'll reasonably be able to contribute to my education.</p>
<p>You see, I'm a number cruncher and my parents are the opposite, so I just want to figure on what I can count on. Thus I'm trying to determine what savings they will have from me now being in the house.</p>
<p>Thumper, I can't imagine anyone thinking it's going to zero out the 42whatever thousand, but on the other hand, it is good to know that the whole amount isn't really the whole amount.</p>
<p>Like Thumper, we save a lot on utilities, a ton on food, and quite a lot on water. I would estimate several thousand. Also, we got a 2000 tax credit last year for education, so that goes against costs, too.</p>
<p>The way I look at it, every little bit makes a difference.</p>
<p>Not sure if this helps - but we took a student out of the dorms - which required the cost of a food plan (which was not always used) - to live on the economy - which was much cheaper in the long run - set up a budget for the student and stuck to it - for a pretty good savings over 3 years.</p>
<p>We also utilized every savings program we could find - AAA - Student Advantage - used books when at all possible - etc... which also made a difference from our original cost analysis.</p>
<p>Not sure if that is what you are looking for - but we found ways to save all way around - and were surprised at what we found as well.</p>
<p>We save on food, gas for her car, money I would spend on her while we were out (shopping and lunches) and the occasional money we would slip her as she headed out for the evening. If the dinner plan were not required at college we would be saving a lot more because she is not using it much. She went to college with $200 cash and still has most of it. Almost all activities on campus are free.</p>
<p>If they currently pay for your auto insurance, and you can be taken off when you go to college, see what the difference is in their premiums.</p>
<p>We keep the thermostat at 62 degrees. That's way lower than the 74 degrees DD prefers. With two kids in private school the savings don't make amount to much. Now, if I could just reduce the house temp to, oh minus 3000 degrees ....</p>
<p>Thanks for the suggestions, please keep them coming!</p>
<p>I came up with some obvious ones, for example, I go to private school so my parents will save around $6500 a year from that alone, but I'm also trying to think outside the box.</p>
<p>By the way, I'm the youngest, so now it'll just be my parents in the house.</p>
<p>Milk and laundry are the only things I've noticed. I should look at the electric bill but I doubt there's a big difference.</p>
<p>I can't crunch the numbers but will add to your list. </p>
<p>After our last little birdie flapped his wings and flew away:</p>
<ol>
<li><p>Less wasted food. Instead of buying extra milk and fruit to be sure it was around whenever needed, my H and are eat much more predictable portions. I cook tidy meals for two instead of bloated casseroles overflowing so leftovers will surely follow.</p></li>
<li><p>Less on gasoline for my car, because now S is at a campus where he walks or bicycles. He used to borrow my car for everything.</p></li>
<li><p>I don't buy extra movie tickets or sandwiches out for his g.f. SOmetimes we'd go together, believe it or not, and I just could never accept her money offered for such things. </p></li>
<li><p>No h.s. expenses for dances, prom, school field trips.</p></li>
<li><p>No weekly allowance. He pays for his own expenses on campus from summer savings first term freshman year, and by second term will have a part-time job to cover those "walking around" expenses.</p></li>
<li><p>Less laundry soap, shampoo, stuff like that.</p></li>
<li><p>Less heat; we close the bedroom doors and take care of his guinea pig in the laundry room now.</p></li>
</ol>
<p>We save money on meat! Son is a carnivore, daughter a vegetarian. When he isn't home, we eat very little meat or chicken.</p>
<p>When I first saw the subject heading, I kinda laughed as the concept of "saving money" with my two kids in college is well....um....laughable, as my expenses are greater than ever! BUT.....I DO know what you are getting at. Actually, we did do a bit of this figuring to come up with paying for college (we also have loans, FA, etc.). The main thing we figured on from the outset was that we would no longer be paying for extracurricular activities/lessons and summer programs, all of which were a significant chunk of change. So, that was money we were used to paying and so now that goes toward college. It is not a big dent in the college bill, but it is the out of pocket we can afford each year that we were paying before but simply now toward college instead. There are likely other savings but we did not figure those into money for tuition.....such as I spend less on gas for my car as I am no longer schlepping them countless miles to their activities and I spend less on food. But again, we didn't figure either of those into the college budget like we did the first thing I mentioned. I think this 'savings' is easily eaten up by new expenses such as their travel home for breaks and our travel to see their events, their books/supplies, etc. But the ECs and summer program expenses were consciously now put into college tuition out of pocket. While going to college IS a new expense, and a huge one at that, there is some money that we were used to spending on them here that now simply goes into the college payment instead.</p>
<p>Why don't you just bill your parents? </p>
<p>At first I was going to chime in, but your responses kinda put me off a bit..</p>
<p>Do you honestly figure that the money they spent last year, the year before that or even five years ago... is yours to do as you please? </p>
<p>Is that particular amount of money always yours? When do you feel they should stop?</p>
<p>I don't think I agree with your mindset here, your parents don't owe you, you owe them...</p>
<p>Don't forget the little things that add up as expenses - one unexpected increase we had was postage for the care packages I was sending frequently when s. first went off to school. It's not nearly as frequent now (just at exam time), but it does add up. We've also absorbed the extra work s. did around the house - gutter cleaning, mowing, splitting wood, etc. We haven't 'outsourced' those yet, but they do represent economic value and it's possible your parents will have to pay someone to do some job you've been doing (child care, musical lessons for younger sibling, tutoring younger sibling, etc.)</p>
<p>Actually, Walt99's question is a very good one for parents to think about, especially if the parents are going to be borrowing some of the money for college. I did not think about those savings, and I ended up taking a PLUS loan for several thousand dollars more than I needed my son's first year of college. When you consider the loan origination fees and added interest over the years -- its a costly mistake.</p>
<p>My biggest savings when my kids left was car insurance -- I took them off completely, since they were not driving while in school.</p>
<p>If you want exact figures: I figure $80 a week x 30 weeks = $2400 saved for food, shampoo and sundries, hot water, extra schlepping around gas, etc. I don't count any savings for car insurance, since (except for 5 months for DS) we haven't had to pay any. (Our car insurance does not charge for students without vehicles, if students are more than 150 miles away from home. We do not have to pay car insurance for them over summer or breaks. It is great!). :)</p>
<p>Opie, you aren't aware of the circumstances of the situation nor the circumstances of my relationship with my parents. I don't feel compelled to explain such circumstances to an audience, but suffice to say, I've spoken to my parents and they've encouraged me to "crunch the numbers" so to speak. This is not an editorial, this is not your thread, respectfully, I think you should keep your opinion to yourself.</p>
<p>Furthermore, this isn't a matter of being able to afford a $40,000 university, but rather I'm trying to determine whether it'll even be economically feasible for me to attend the local state university. Not that that is any of your business.</p>
<p>"Opie, you aren't aware of the circumstances of the situation nor the circumstances of my relationship with my parents. I don't feel compelled to explain such circumstances to an audience, but suffice to say, I've spoken to my parents and they've encouraged me to "crunch the numbers" so to speak. This is not an editorial, this is not your thread, respectfully, I think you should keep your opinion to yourself."</p>
<p>ow... </p>
<p>So Have they given you a number yet? Or are they waiting to hear from you exactly what they need to contribute? Something's fishy junior. :) </p>
<p>If mom and dad said we can pay x and you want them to pay y, are you looking for ways to point out how they can pay y.</p>
<p>or possibly are you wanting to attend a school where the cost is much higher then they have offered and you are trying to squeeze a bit more?</p>
<p>I mean fine go for it, but really they've sent you to private school, they've done for you and it sounds like they are going to do for you again.. but shouldn't it simply be what they can swing? Should you pour over their tax returns too? :)</p>
<p>Opie, I think it's more like Walt's parents are saying they want to do the best they can but the max they can afford is $X - and Walt wants to help them with planning to show that the max they can afford is $X+Y by looking for areas where they will save or can cut back when he is not living at home.</p>