A representative from a very reputable automotive school in PA came to talk to us about their school. We requested the visit because after an extensive research. We thought that this school will be the best fit for our DS#2. He will graduate from high school in June of 2012. It is clear that he has no intention of persuing a traditional post high school education and I feel that my job as a parent is to guide him and let him decide what he wants to do. After the presentation, of course, the representative gave us the rundown of how much the program will cost. Worst case scenario, tuition will cost close to $30K, not including room and board. Most of these programs cost that much money. We decided that we would go forward with the application process. As some of you know, we paid for DS#1 college tuition, which we estimated to cost close to $45K because my son never inccured room and board expenses. We intend to pay for DS#2 tuition also. Here is my question, Do we get student loans to cover the cost of this program or should we pay for it in full with the money we have in savings (tuition only)? We would pay for his living expenses on a month to month basis. With DS#1, tuition was paid every five months for 4 years. We do not have the same option with DS#2 since this program is only for 12 months. DS#2 is planning on getting a part-time job with the help of the job placement department at school. Assuming that by September of 2012 we have $90K in savings, that would leave us with $60K. Enough to cover about 10 months of a bare bones budget. Any advice you can offer is greatly appreciated.
Just found out the high cost of technical school and need advice
November 10th, 2011 at 01:46 pm