Random happy thoughts about college tuitions:

(No, I'm not smoking anything hallucinogenic, thank you.)
Just got off the phone with Son 1's Financial Aid office finalizing some stuff for his frosh year at UARTS. May I brag for a moment? We got a nice package. High on the merit scholarships and grants. (Proud of the boy!) Low on the loans and out of pocket. TG!! One of my relatives is already mid-five figures into a bank for their child's education AT A STATE SCHOOL and the kid is only halfway through. I know this is a far more typical scenario than mine. And it upsets me.

Observation, with the way that states, especially PA are gutting their education budgets, (thank you Mr. Corbett) and Mr. Ryan's designs on Pell Grants, perhaps you're better off looking at private schools (with their more generous endowments) rather than state schools for a cost effective education. I know this sounds counter-intuitive, especially for folks of my generation, but this is my experience. I'm not saying that we were savvy when we started this process. Far from it. We were total newbies--more lucky than smart. I'm just a middle class guy, two working stiffs making middle class money and last year at this time I looked at the numbers and was convinced I wouldn't be able to send my son to college. Every time I looked at the mid-5 figure college tuitions, my BP shot up and I got pissed.

It's a "funny money" situation. Like healthcare. We say this procedure will cost $35k, but insurance will cover 90% and we'll accept it. Your out of pocket $25. Why can't medicine, like education, cut out the funny money business and just charge reasonable rates that middle class people can afford? Despite our good fortune, I'm convinced the system is broken.

I amused the young financial aid officer with tales of my $3100/year tuition room and board at UVa. I transferred to Temple and graduated with a BA and $600 in loans to repay. I half-expected him to ask me if I rode a horse to school.

When I went to school, part of the joy of the experience was moving out from under my parents' thumbs. There was a Forbes article not so long ago on the trend of even upper middle class kids living at home for college. When I moved out, it was "get ready to party down time." I majored in debauchery with a minor in indolence and wasted my father's money for about a year and a half before I buckled down. It shames me to say this. This is one area where my son CANNOT follow my footsteps. We can't afford it. If he were to lose his scholarship, he would lose his one shot at college. This is the new reality of College 101. My take, if my son and others of his generation have to sacrifice the autonomy of dorm life for the privilege of attending college, well this is a small sacrifice. Even he sees that.

Looks like alma mater #2 is having a "bake sale" to help raise financial aid support. Cue Bill Cosby.