Archive for June 6th, 2013

June 6, 2013

A look at one family’s first three years of college expenses

by Grace

The Family CEO shared details of paying for her daughter’s first three years of college.  This breakdown offers insight into how many families are managing to send their kids to college without going broke.  In this case, Julie Mayfield’s daughter is attending the “University of Kansas, an in-state school with affordable costs”.

JUNIOR YEAR COSTS:

Tuition/Room & Board/Books: $10,143

  • Tuition = $3059*
  • Room = $2950
  • Board (Meal Plan) = $3800
  • Books = $334

*After scholarships

Fees: $1328

  • Required Campus Fees = $888
  • Technology Fees = $290
  • Sports Combo Pass = $150

Sorority: $2465

  • Dues & House Maintenance: $1032
  • Moms/Dads Weekends, Flowers, Musical Production = $1433

Total: $13,936

What’s Not Included:

Spending money – Lindsey is responsible for her own spending money so I don’t have costs for things like eating out, snacks, toiletries, school supplies, clothing, laundry, gas, etc.

TOTALS FOR THE FIRST THREE YEARS OF COLLEGE:

  • Freshman year: $17,435
  • Sophomore year: $13,171
  • Junior year: $13,936
  • Total: $44,542

The first year involved some “start-up costs”, including a printer and dorm furnishings.  Go to Julie’s blog for more details, including itemized expenses for the first two years of college.

Related:  Average amount of parents’ contribution to college is about $10,000 (Cost of College)

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