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MM(20) Tuition Update

March 11th, 2024 at 03:45 am

I've revised MM's estimated college costs, below.  I also kept the old numbers (to the right), for reference.


MM's expected net college costs:

$42,000 Tuition/fees** (4 Years)

+$10,000 5th Year Tuition/Fees 

-12,000  Tax credits  (-10,000)

-21,000  CA middle class grants (-13,000)

-  6,000  Scholarship


$13,000 Net cost  ($23,000)

**I added in MM's $1K summer school class


I won't believe it until I see it, but I now believe that MM's 5th year will be entirely paid for with state funds and tax credits.

So, I just completed the kids' FASFAs for next school year (was delayed this year due to major revisions; I waited for all the kinks to work out before I bothered with it.)  I logged into DL's account to make sure his GPA was reported by his high school. 

I am still so confused because MM(20)'s state grant changed from '3 years' to '4 years' at some point.  It was expected he would only get 3 years of grants re: college credits he went into college yet.  He was already considered a sophomore when he started college (per state grant measures, but he would need a minimum of 4 college years to complete an engineering degree).

So I asked MM(20) to double check today while we had a video call.  (He set up his own account; I don't have access).  I also needed his college tax form, so was just taking care of business.  It is still very clearly showing that he will get a middle class grant next year (Year 4).  He told me that he is pretty sure that changed when he made his double major official (end of last school year).  Which is *why* he is taking a 5th college year.  So, wait.  This means his 5th year will cost $0!  If that's the reason and this is true, that is pretty sweet.  I mean, he's getting a whole free year out of the deal of adding one more year of college.   

I am still skeptical and will believe it when the money hits our account.  

I also (at some point) crunched the numbers on a Year 5 college tax credit and it was a lot more than I expected.  A full $2,000.  & so I also added that to my estimate, and that will bring the net Year 5 cost down to $0.

In the end, net tuition/fees will be the same difference, if it takes 4 or 5 years.  

I will have to check if MM(20) anticipates taking any more summer classes.

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