I am saving for my granddaughter in a 529 and am using RU’s cost as the goal to reach.
So thank you for this information.
Rutgers University to raise costs for tuition, fees, meals and housing
- Thread starter T2Kplus20
- Start date
So thank you for this information.
You can thank economics from the middle out and the bottom up. Nobody even know what that line of propaganda means.
The emperor has no clothes !
Mr Magoo is in charge.
The emperor has no clothes !
Mr Magoo is in charge.
1/2 of NJ is commutable to Rutgers New Brunswick.
Tuition and Fees is $17k.
World class education for $68k for four years.
Ponder that.
Tuition and Fees is $17k.
World class education for $68k for four years.
Ponder that.
I think the point you're making is this, in-state for other quality flagship universities is lower. Took a look UT Austin (where there is no state income tax), UNC and Michigan.
UT-Austin 30k, for a family with 110k in income grants reduce it to 25k.
UNC 25k, for a family with 110k in income grants reduce it to 22k.
Michigan 32k, for a family with 110k in income grants reduce it to 19k.
Yes. Rider was $55K a year but offered her $25K per year scholarship. I think Monmouth was around $70K a year. RU is a better school than both of them. Saint Joes in Philly was $65K a year for out of state.
…As should professors’ salaries. English and Social Sciences professors should not be making similar salaries to Engineering and Medical professors. Similarly, Social Sciences/English degrees should not cost as much for the student either.
True. And if a student goes to an NJ community college for 2 years for next to nothing, RU will take the credits and the student will only pay for 2 years at RU.
You probably are aware of this change to possible excess 529 contributions, which allow for roll over to an IRA for the child/grandchild. If not, take a look:
How A 529 Plan To Child IRA Conversion Can Turn Your Teen Into A Middle-Class Millionaire
Beginning in 2024, you can convert your child’s 529 plan to a Roth IRA. This backdoor Child IRA now becomes a valuable planning tool. Here’s a step-by-step process you can start today.
www.forbes.com
I was going for more along this, the out of state private's vs the flagship where you live.
Although sometimes your zip code can affect that number too.
This.
Lots of people in this thread who have no idea what the fvck they're talking about. They need to do some research regarding how much college costs these days.
The alternatives (both out of state and private/in-state) that my son was considering were between $50K - $70K per year all in.
Note that the "living costs" for non-commuters can also be curbed in a bit. The most expensive/robust meal plans are generally not needed, we also received over $2K back for unnecessary Health Care expense which is covered by our own plans. Next year he will be off-campus which will reduce living expenses a bit further.
I agree.
I would not go into debt to be an on campus student but it was important to me that my daughter was able to be a resident rather than a commuter. I would like my granddaughter to also have that opportunity.
Tom, honestly the more you are able to put away and save the better. I built a pretty robust model back when my first daughter was born, and based upon a range of inflation, market performance, and college cost inflation assumptions, I landed on a target of putting in around $10k per year. Granted, that was pretty conservative and assumed a private school but unless something changes it's going to continue to get more expensive.
And this re: my prior postYou probably are aware of this change to possible excess 529 contributions, which allow for roll over to an IRA for the child/grandchild. If not, take a look:
How A 529 Plan To Child IRA Conversion Can Turn Your Teen Into A Middle-Class Millionaire
Beginning in 2024, you can convert your child’s 529 plan to a Roth IRA. This backdoor Child IRA now becomes a valuable planning tool. Here’s a step-by-step process you can start today.
I was not awareYou probably are aware of this change to possible excess 529 contributions, which allow for roll over to an IRA for the child/grandchild. If not, take a look:
How A 529 Plan To Child IRA Conversion Can Turn Your Teen Into A Middle-Class Millionaire
Beginning in 2024, you can convert your child’s 529 plan to a Roth IRA. This backdoor Child IRA now becomes a valuable planning tool. Here’s a step-by-step process you can start today.
Thank you
I don't necessarily disagree, but the bigger problem is the explosion in the volume of "administrative staff" at universities. I can't recall but there are schools that now have more AA staff than students. Madness.
Yeah, that's not wrong but I wouldn't want my kid to have that on their resume when looking for entry level jobs...
I believe our inflation rate is lower than the other. G7 countries.
Lmao at Rutgers being worse than Rowan in anything. That's just a complete lie.
In an ideal world, in state college would be tuition free, but RU is still a relative bargain.
I have to laugh at going into debt to send your kids to OOS schools like the Cult or UDel when RU is a better education for less.
RU is tied with Maryland for top ranked public school in the Northeast. While paying tuition for St. Joe's or JMU or something may impress the ShopRite line, employers and grad schools not so much.
I have to laugh at going into debt to send your kids to OOS schools like the Cult or UDel when RU is a better education for less.
RU is tied with Maryland for top ranked public school in the Northeast. While paying tuition for St. Joe's or JMU or something may impress the ShopRite line, employers and grad schools not so much.
A more detailed article:
Saving for college: The new 529-to-Roth IRA transfer rule
A provision in the SECURE 2.0 Act enables greater flexibility in saving for children’s education while also helping 529 plan beneficiaries to get a jump-start on retirement savings.
www.journalofaccountancy.com
Exactly. When I have kids I'm going to give them the offer to stay in-state and go to RU for undergrad and if they take that offer, then they can choose to go wherever they want to for grad school and I will financial support them for grad school. If they choose to go for a flavor of the week type OOS college that doesn't justify the cost like a UDel or Cult or Boston U, then they're on the hook for grad school themselves.
+1A more detailed article:
Saving for college: The new 529-to-Roth IRA transfer rule
A provision in the SECURE 2.0 Act enables greater flexibility in saving for children’s education while also helping 529 plan beneficiaries to get a jump-start on retirement savings.
529s are getting more flexible.
Are teachers at the Medical School, presumably licensed MDs, really paid the same? I'm not so sure about that. A better comparison would be the non-teaching bureaucracy, which has ballooned over the last 40 years, and the actual teaching faculty.
It continues to skyrocket. It's very little to do with inflation - it's an explosion in demand, both generally speaking but exasterbated by anyone getting a student loan, as well as huge uptick in administration costs and ineffecieincies at schools
unreal and totally unwarrantedWow, big increases across the board, but hey, had to feed the union overlords:
Rutgers University to raise costs for tuition, fees, meals and housing
The increases are part of a $5.4 billion budget unanimously approved by the board for the upcoming 2023-24 school year.www.politico.com
Rutgers University on Monday approved increasing student tuition and fees by 6 percent each.
The university’s Board of Governors also approved raising meal plans by 7 percent and student housing by 5 percent. That means the typical in-state arts and sciences undergraduate will pay an average of $387 more per semester for tuition, from $6,450 to $6,837. Mandatory fees will increase about $100 per semester for those students, according to the university.
Rutgers needs to streamline, cut the dead weight and consolidate.
Like health insurance, this is another serious issue that isn't being solved because we no longer compromise. We "fight for our beliefs." Most people would agree that having a highly educated population is vital and that making college too expensive works against that. Yet all we get are band-aids, at best. When I was a kid politicians would grandstand and then go hammer out compromises that made things work. Now everyone is so smart and smug and right that they just can't do that. Anyone who disagrees must be an idiot and should be blocked at all costs. It's pure arrogance imho.
Is that the only thing that shocked you when compared back to the 60s?
The State of NJ shaft Rutgers when it comes to funding the flagship State University of NJ, and that is not Rutgers' fault. So, Rutgers is not really "collecting taxes" as you put it. The State is allocating collected taxes to Rutgers, and it does a poor job of doing that. That's why it is funny. You made it sound like Rutgers was directly taxing State residents.
Better tuition/similar school are all variable, and depend very much on the degree and the school.
Somebody did something about it. NPR interview with Mitch Daniels, who is retiring as President of Purdue, and did not raise tuition during his 11 year tenure. 72 is a relatively young age for DC as opposed to West Lafayette. Maybe he could help with the budget there.
So it's not really lower, except for UNC. You did not mention for Rutgers:
- Students from families with adjusted gross income of $65,000 or less receive scholarship funds to cover full annual tuition and mandatory fees.
- Students from families with adjusted gross income of $65,001 to $80,000 will pay no more than $3,000 per year toward tuition and mandatory fees.
- Students from families with adjusted gross income of $80,001 to $100,000 will pay no more than $5,000 per year toward tuition and mandatory fees.
But that will not stop the constant whining and bashing from our so-called fans and alums. We should also pull up the thread on the strike and see how many of tuition complainers supported the workers who were striking.
Rutgers Tuition-Free for More In-State Students
I’m in the process with my oldest. Don’t think she will go to RU because it is just too big for her. Funny thing is, the big pro for RU is cost.
