Enjoying a nice bout of cooler weather. & the clouds/sunsets that come with the cooler weather.
I got some more firm college numbers for DL(18). Woohoo!
I've been following actual CSU college numbers (over the decades) and planning for $30K (sticker price) degrees for my kids.
Actual cost = $30,400 at DL's specific college. It looks like it will be closer to $32K with parking permits (over 4 years). I am considering that as part of tuition/fees, since the parking is kind of necessary to be able to commute to the college.
Up until this afternoon, that's all the info I had. $32,000 degree minus $10,000 college tax credits = $22K max I expect to pay for this degree.
It sounded likely the kids would have similar state middle class grants, but I was second guessing because I recently read it depend on the college. & for all I know, DL(18) didn't get the paperwork in. I don't know! I had this number in April? when MM applied to college, but I didn't know if I'd get this number (for DL) until after I paid for DL's first year of college. Or like 9 months later. 🙄
But I saw the topic come up in the college parent group (MM's college) today and it looked people had real numbers. What!?
DL(18) got a $4K grant! (I was able to log into his state grant account). I am so relieved that everything went through.
The best part is these grants are increasing every year. Was more like $2K MM's first year. Then $3K. Then $4K.
DL's expected net college costs:
-10,000 tax credits
-16,000 CA middle class grants
$6,000 Net cost
Probably minus some increased middle class grants in the future, which could easily net out this cost to $0.
Of course, it's not quite so simple. The tax credit thing gets complicated. If middle class grants increase any further, then the tax credits will decrease. & I mean, we won't even get the full $2,500 tax credit this first year. But I feel pretty confident saying that DL will probably pay no more than $5K for his degree (if he can finish in 4 years).
It sounds like most likely I won't get any refunds from DL's school until next year. His tuition (full sticker price) and parking permit will be $4,000 for the spring semester. Due end of December maybe? Early January? But the school will owe me this $4,000 (grant) refund, so that should be a wash. Because of this, I've checked off DL's freshman year as done and paid for. In my sidebar. The $4K cash already paid should be all I need to come up with for the next 11 months. Phew! Feeling relieved because the money drain was pretty crazy in August/September. Paid college x2, medical bills, last minute vacation and so on.
The planner in me is very happy. We plan to just cash flow DL's college expenses (with income). I didn't think it would amount to much more than $1,500 per year. But it's nice to have firm numbers and a more firm plan.
DL(18) is just living at home, so no other college expenses to figure out. I mean, he's got a bigger commute now, but he is covering those expenses.