Mom just showed me exactly how much my sheepskin cost. (I knew it was a lot, but didn’t know exactly how “a lot”).
The total cost (tuition + room/board, excluding books, personal, traveling, etc.) for my 4 years at an institution of higher learning was just over $177,000. My parents paid almost $123,000 of that amount. The difference came from federal & college grants and my student loan. I can’t imagine how they squeezed out $123K.
I feel loved. 😉 I’ve also realized that my future child will be an only child. … I can’t imagine shelling out over $1 million each (what today’s $177K would be in 26 years at 7% annual tuition increase) for TWO kids.
Mom never spend frivolously, but she always said that money that should be spent must be spent, so it made me feel good that she thought I was worth the $123K investment. (Okay, so I’m her daughter and all, but still).
P.P.S. I am very glad that my first job will at least allow me to pay off the student loans.