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Post by High Priestess on Aug 8, 2016 3:37:09 GMT
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Post by Maria Lurdes (Milu) on Aug 8, 2016 12:21:09 GMT
I had guests from Beijing two years ago, and they were so awesome, we had a great time with them. They proposed a partnership with us - to run an "angel house" which is exactly like booking an airbnb to have a baby. They'd provide the clients, I'd provide the place. The wealthy Chinese families want to have a US born baby not to come to the USA (so not as an anchor baby) but rather so that 18 years from now the kid could get domestic tuition at an Ivy League school if they attend, and/or the prestige of an American birth in the high Chinese society. The couple told me that families budget about $10k per month for four months - three months before the baby, one month after the baby and on top of it of course they have their lawyer fees, hospital fees, etc. They estimate the family spends $100,000+ to have the baby in the US.
My husband and I actually joke about it every time we see a big house for sale - we say 'there's our Angel House, let's buy it and fill it with pregnant women'.
It's a big industry in the New York area, there are a number of places in Queens, Brooklyn, etc that advertise in China.
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Post by High Priestess on Aug 8, 2016 14:26:44 GMT
$100,000 to have a baby in the US? That's very pricey, but I guess these are higher class Chinese who can afford it. If there's a loophole, people will not only find it, but make an industry out of it. I think "Angel House" is a sweet name....
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Post by lambada on Aug 8, 2016 15:57:16 GMT
$100,000 to have a baby in the US? That's very pricey, but I guess these are higher class Chinese who can afford it. If there's a loophole, people will not only find it, but make an industry out of it. I think "Angel House" is a sweet name.... That is actually very cheap, Deborah, considering a very low tuition they'd have to pay later on, like Milu said. A foreign college student has to pay considerably higher tuition fees than a US citizen. $100K will probably pay for a year only. |
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Post by High Priestess on Aug 8, 2016 23:31:32 GMT
$100k for a year tuition?!?! Gasp! I am out of touch with some college tuition prices, clearly. Seems this is an area for the rich folks only....
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Post by lambada on Aug 9, 2016 2:32:18 GMT
OK, I just checked with my nephew who is in his first year at Purdue, and he pays $35K/year, for tuition only. This doesn't include summer classes.
But I'm also thinking, as a US Citizen, you will have to file tax return every year once you reach 18. So citizenship only has great benefit if you would actually live here. Otherwise, it would just be a hassle.
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Post by keith on Aug 9, 2016 16:08:26 GMT
There are lots of benefits to the Chinese (or any foreigner) to having a natural born US citizen child.
Likely property ownership rules will change since so much foreign investment is driving up local housing costs. Australia already has very tight limits on foreign ownership unless it's ones full time residence. Canada is considering something similar as are cities like Vancouver who are, like San Francisco, finding large amounts of housing sitting idle where people are parking money in anticipation of a collapse of the Chinese economy.
Aside from the education cost benefits, this would grant people the right to potentially buy property under their childs name .. it's also a good way of transferring wealth tax free.
As long as these guests are good, I think this could be a nice niche market and you could charge premium rates.
My personal experience with the super wealthy Chinese guests is that they're a bit high maintenance (just like the wealthy American and European guests). I tend to do well with people of middle or lower income. They seem to have better managed expectation of what their trip would be like, how they should behave and what a hosts responsibility is to them.
As for costs of college... Private schools likely don't have different tuition based on your country of origin, but public schools do.
I'm not sure what the difference is at, say, Berkeley or Boston College, but at City College of SF, a California resident will pay $46/ credit hour, a Non-California Resident will pay 46+211(tuition)+7(capital outlay fee--I've no idea what this is) (264/credit hour)
I have some international students, they're paying $1056 to take a course, they have to take 12 units ($3168) to be full time to maintain a student visa.
Most of those students are here just barely getting by in their classes because they're mostly working or looking for jobs that will allow them to stay (H1 Visa, etc.)
For people serious about getting a degree from a branded institution the costs could be very high.
Berkeley fees (per semester -- full-time):
California Residents: $8k/semester (not including housing)
Non-Residents: $21,400/semester (not including housing)
more strangely... one of the classes i teach for City college (for which a local resident can take for $184) I teach at Berkeley Extension and people there pay $2290 ($730/unit) for the same course, same material, same instructor.
The International students also have to pay an International fee of $200/semester and a mandatory $700 health insurance fee/semester).
However, I'm not sure simply being born in the US will abate the International student fees until you've resided in the US/California for at least 1 year. I think for City College you have to live here for 1 year + 1 day to be considered a resident and for State schools I *think* it's 2 years.
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Post by keith on Aug 9, 2016 16:09:44 GMT
But I'm also thinking, as a US Citizen, you will have to file tax return every year once you reach 18. So citizenship only has great benefit if you would actually live here. Otherwise, it would just be a hassle. I *think* you only have to file a tax return for years you earned income. If they're here and don't work or make money, one doesn't have to file a return. |
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Post by High Priestess on Aug 9, 2016 16:11:09 GMT
That's great that you teach classes at City College, Keith! What types of classes?
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Post by keith on Aug 9, 2016 16:48:05 GMT
That's great that you teach classes at City College, Keith! What types of classes? computer programming: link to teaching profile |
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Post by High Priestess on Aug 9, 2016 18:13:35 GMT
Yeaaa! Good for you. Computer programming is such a good skill to have. I actually took a class in computer programming at a community college several years ago, aiming to learn...but found it difficult to stick with as many of the exercises didn't seem as relevant to where I wanted to go with this which was mostly focused on creating websites. So now I'm just learning myself from books and web videos and tutorials.
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Post by lambada on Aug 9, 2016 18:32:44 GMT
Great seeing you here, Keith! I always valued your posts in the SF Home Sharers forum. And you were right, the tuition costs difference was for international students in state owned colleges. Oh and yeah, I paid $7K for a 3 months Summer Program at Berkeley Extension, many years ago when I came here!
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