(I’m updating this post from September 2021 based on my insights after 6 months into senior year. As I should have expected, it’s getting more expensive!)
I like to think that I am a pretty well-prepared person. And I also consider myself to be quite on top of finances and forward-thinking in terms of what costs are coming up. But the expenses of having a senior in high school really surprised me, and I’m a bit caught off guard. So I’m hoping that I can share my experience- so you will be better prepared than I was!
In some ways, getting through a senior year in high school is like getting married. A few similarities:
- Everyone has their hands out!
- If you don’t push a bit, you are going to get taken advantage of.
- There’s a huge range of what you can spend.
- And there is an end to the spending…eventually.
I’m sharing what I’ve figured out so far on the expenses of senior year in high school. But it’s only September! No doubt there are a few more surprises around the corner.
And please know that I am very aware of how lucky we are to be in this position and able to (gulp) afford these expenses. That said, here are a few things I’ve learned over the past few months. May those of you with younger kids start saving now!
Just getting through senior year
Senior year isn’t like junior year; there are additional expenses associated with the last year in high school. I had a vague awareness of them, but I wish I had anticipated them a bit better.
Senior year activities and festivities
We’re in the early days of senior year, but I can already see the requests for my credit card number coming: there’s the Senior Bash next month, the prom, a yearbook, other parties, class photos? This and that. I think it’s a good idea to put some sort of placeholder in your budget now. Better to be pleasantly surprised than not!
Update in February: Don’t forget about the clothing! Sophie is going to need 2-3 dresses plus shoes for all these activities. Add another $350 to the total.
Total=$250-$750 (I have no idea what prom costs- doesn’t it involve renting a limo? Doing some sort of outlandish prom ask? Is Sophie going to need a spray tan? None of that is included in this number!)
Graduation
We just got the request from Sophie’s school to order her cap and gown for graduation. I clicked on the link from Jostens and of course, they do their best to upsell you with all sorts of garbage add-ons. If I didn’t bother digging deeper, I might have ended up with the $209.55 “Mascot Package.” It includes the cap, gown, tassel, a key ring, stationery, invitations, a hoodie and tee shirt. What?? And don’t even with the class ring. Those things are fugly; I cannot permit you to spend $315 (at a minimum!) on that! Don’t do it.
Dig deeper and you’ll find two options: 1) borrow a loaner cap and gown or 2) buy a la carte- for $39. I’m all for the free loaner but I was concerned about the logistics of picking that up. So I opted for the cheapest option. And Jostens conveniently adds a $1.99 fee on to your bill- to cover the cost of running their website. Hey, I hadn’t thought of that. Please go ahead and send me $1.99 for running this website 🙂
Total= Free- $39 (plus $1.99 “service fee”)= $41
After Graduation
I’m going to assume we’re going to be doing some sort of family dinner, there will be a gift involved, and maybe there are after grad parties?? This is a bit vague but probably best to anticipate some costs…
Total=$500-$1000 (depends how big your family is!)
Update in February: There’s a big After Graduation party hosted by her school…for $195. So add that to the total…
The college discovery and application process
College visits
You may have read my post on my trip with Sophie to see some schools on the East Coast. Although we did do a few things that weren’t college-related (e.g. eat ice cream almost every day!), I’m pretty sure we wouldn’t have done the trip at all if she weren’t college-bound. So I’m considering the entire trip as an expense of senior year in high school.
And some of Sophie’s friends did multiple trips or much longer/extensive trips. And they may have stayed in fancier (or not) hotels. The trip was just Sophie and me; if Dear Husband had attended, it would have been more expensive. So there’s a range here to account for that.
And I think there’s a decent chance Sophie will be doing 1-2 additional college visits once she is admitted to schools in the spring. It could be to visit and compare a handful of schools where she was accepted. Or it could be an “admit weekend”, where the school(s) tries to sell her on how wonderful they are.
Costs vary significantly based on distance, timing, number of visits, days, etc. At a minimum, I’d set aside $1000. Could go much higher. These expenses of senior year in high school might be the most variable, especially if money is tight. You can do virtual tours and show “demonstrated interest” in other ways. But honestly, it’s probably worth the attempt to get your child on at least a few campuses.
Total= $1000-$5000
Update in February: We may need another college visit or two in March/April, depending on what happens. Add another $1000 to the total
ACT and SAT test costs
First, your senior is going to need to prepare for the tests, and then he/she will need to take the test. And although you may have heard that lots of schools are going test optional, the word on the street is that schools really, really like it if you take the test.
On the preparation front, there’s a wide range of options. You could buy a couple of books and do self-study (or even use Khan Academy- free!) Or you could hire an SAT tutor to live with your child at your house in the Hamptons over the summer. Or somewhere in between. No matter what route you choose, prep is necessary and it’s probably going to cost you.
And second, there are the costs of the test(s) and travel. Yes, I said travel. Due to the pandemic, a lot of test centers are closed, and it’s been very hard to get a spot at local test sites. So far, Sophie has taken a test in LA and in Wine Country. Both trips included at least one night in a hotel, food, car rental, etc. Maybe you will luck out and get a spot at your local high school. Or maybe not. Best be prepared.
And the actual SAT/ACT costs range from $55-$85 each. Let’s assume most kids take at least 2 tests.
Total= $200-$6000
College counselor
A lot of schools have excellent college counseling staffs in-house. But let’s get real; they aren’t going to have enough time to hold the hand of your high school senior. And honestly, our counselor has been helpful since freshman year (yes, you need to sign up-and pay for it- that early). A friend gave me the advice to hire one early on. “It helps preserve your relationship with your child during a stressful time” to have some else setting deadlines, giving the tough feedback and keeping the college application train on the tracks.
Again, sky’s the limit on the cost. Assuming you aren’t fabulously wealthy…
Total=$3000-$6000 (generally starting in freshman or sophomore year)
College applications
I know, I know, the costs just keep on coming! Finally, your senior is at the point of hitting “submit” on all those applications. Of course, everyone is going to want a little piece of the pie. These are probably the most straight forward expenses of senior year in high school. There is some negotiation on the college application cost (Sophie received a waiver from one of the schools on her list- saving us $70. Woo hoo!) But it’s largely a function of how many colleges your senior is applying to.
- Cost from college to submit an application= $40-75 each
- School transcript, test score submission, CSS profile (for financial aid) costs= $45-60 each
Total= $850-$1350 (assumes 10 applications)
“College affordability specialist”
I just learned about this on a WSJ podcast… apparently you can hire someone (like this company) to help you negotiate reductions on tuition through some strategic moves. It can cost $7000, but it could save you much more than that on tuition breaks. Probably considered “optional”… but maybe not for long.
Total= $5000-$7000 (optional, not included in the grand total)
Update in February: You may not need this. Cheaper (free!) is getting an EdMit account and checking out what you will likely pay at various schools. This site has been eerily accurate so far.
The grand total
I was planning on getting into anticipated costs for getting your child safely ensconced in his/her dorm room, but I think I’ll leave that for another day (it involves lots of bags and boxes from Bed Bath and Beyond!) I don’t want you to have a heart attack on the spot!
Total= $5,800-$19,350
February Updated Total=$7,800-$21,350
Wow, that number shocks me a bit. And it would have been super nice to have had this in mind a year ago. And although I think there are some opportunities to cut costs here and there, this is a once-in-a-lifetime experience. A milestone. This is what money is for- right? And as with weddings, at some point, the expenses of senior year in high school will end. And you are left with memories and lots of credit card reward points. Lots and lots of them 🙂
What expenses have I forgotten? Or might be coming up- and I’m going to get an unpleasant surprise?? Do share in the comments!
