Affording a Catholic college for multiple children

[JanetF]

In your experience working for universities, what kinds of policies have you seen on tuition discounts for children of university employees?

I know you weren’t asking me, but…I’ve worked in academia for 30 years.

The private jesuit institution where I currently work, offers tuition remission for employee’s children after they have been employed for 3 years (only for a bachelors degree, and does not include room and board).

Another private institution in my city offers free tuition to their institution after a certain number of years of service, and a % of the tuition to attend there can be applied to another institution (this is the gold standard). I think it’s 40%.

I have no idea what sorts of offers are available from state schools, but it’s definitely worth researching.

 

[TheLittleLady]

At our community college, dependents attend for free.

 

[Clementine14]

In your experience working for universities, what kinds of policies have you seen on tuition discounts for children of university employees?

At one university, I could take up to two courses tuition free per semester- I think it was four courses for children of employees though. This was at a top university in the Northeast. I didn’t look at any of the other policies for the other two universities I’ve worked for because I wasn’t interested in taking courses there myself, but I imagine it was a similar benefit.

 

[Clementine14]

Bolded above which is a quote…While it’s true that many colleges offer tuition remission for employees children, you usually have to have a length of service. You can’t start working in May and send your kiddo to college the following august and expect it to be free. Ex: Saint Louis University has a 3–year service requirement. So yes, it’s a great benefit, you’d have to get started before your kids get into high school AND, you have to hope that they want to go to the same institution. Not many colleges offer tuition remission for the child to attend another university, unless like Saint Louis University they engage in a tranfer program with other jesuit universities.

At the university I was employed at, it was only three months.

 

[JanetF]

At the university I was employed at, it was only three months.

As an employee, I could start taking classes immediately and they will even pay for post-grad classes, no more than 3 classes per semester. The only restriction, is I can’t go to medical school on their dime.

 

[dochawk]

Savings that is kept in a safe deposit box will pay tuition

I suppose, but there’s that bit of fraud involved when you don’t list it as an asset . . .

Not many colleges offer tuition remission for the child to attend another university, unless like Saint Louis University they engage in a tranfer program with other jesuit universities.

There are actually a few interchange programs out there.

I have no idea what sorts of offers are available from state schools, but it’s definitely worth researching.

Generally, nothing.

Penn State, which is actually a private school with a state subsidy (which I learned to my surprise during my interview), gives faculty and staff a 75% discount–which lowered the price to about the sane as the actual state schools . . .

Also, tuition remission was taxable income last I checked.

 

[TheLittleLady]

I suppose, but there’s that bit of fraud involved when you don’t list it as an asset . . .

You are correct, we should never attempt fraud. I am betting that a financial manager would be able to help find a way to save for school. Perhaps, if your kids are determined what school they will attend, they could even start paying tuition ahead of time. Like a pre-paid funeral, just, with fewer tears.

 

[dochawk]

Just keeping them as parental rather than student assets makes a big difference–part (14%) of parental assets over a threshold are added to income, while 35% of child assets over a threshold ($1200?) are “ability to pay.”

Home equity and a business under a significant threshold are not considered parental assets for financial aid purposes.

I think 523 accounts count as assets of the child, too