do you think it is your responsibilty to fund your child's college tuition?

obviously, if we are in the position to do so, we will help out as much as possible however, i feel once they are in college, it is their responsibilty.

I might start a college fund when they are young...but i've read that it is important that parents focus on their retirement savings and expenses ( house, car payments etc) first before they fund college tuition.Esp. since student loan interest rates are pretty low.

what do you think?

Re: do you think it is your responsibilty to fund your child's college tuition?

responsibility, no but my parents paid for 4 years of college for my sister and I and I plan to do the same for my children.

I already have a 529 plan started for my dd and I put money from every paycheck into it

Re: do you think it is your responsibilty to fund your child's college tuition?

What my parents did with my education is one thing. They paid for it.

If I have the money, I will pay for DS' education.

I don't believe in "I had to work for it so can my kids". Obviously "some" people have resentment or they would not say that.

If I can afford it, I will try to make my son's life easier and not have to pay student loans for years. What a way to start your grown up life!

That being said, I will expect full dedication to studying. No goofing around for 6 years to graduate. KWIM?

Re: do you think it is your responsibilty to fund your child's college tuition?

I've seen it both ways.

DH's parents paid for his college education. What was left over at grad from the college fund paid for my DHs new car.

I, on the other hand, paid for my own way through school, held part time jobs on campus, took out loans, etc. My parents paid the minimum amt required of what was not covered on my student loan, but I usually helped them out.

IMO, I told DH that I wanted our children (if we go that route) to have to pay for their college education and we would try to help them with as much as we can. I bet in 20 year or maybe 30 years, college costs will be a lot higher than they are now and I don't see us having that type of $$ to pay for house, cars, college, retirement, etc. He disagrees, but we'll see what happens.

Re: do you think it is your responsibilty to fund your child's college tuition?

I think that beginning to save now is the best thing I can do for my kids. JMHO.

I was lucky and got scholarships, but I would not want to put that kind of expectation on any of my children. The reality is, if I had not gotten scholarships I would have been SOL.

Re: do you think it is your responsibilty to fund your child's college tuition?

I'm sure we will help them out but I'd like to see them get scholarships & work for it. After they graduate, I'd gladly pay it off as a surprise graduation present if it was doable.

I had my college paid for by my parents. From my experience, the people that are paying their own way seem to appreciate it more & get more out of it.

Re: do you think it is your responsibilty to fund your child's college tuition?

Re: do you think it is your responsibilty to fund your child's college tuition?

I plan to pay for in-state tuition. If my child chooses to go elsewhere they will be respobsible for the difference. Of course a lot can change in 18 years, but I think this is a fair arrangement and similar to what my parents did for me.

Re: do you think it is your responsibilty to fund your child's college tuition?

Re: do you think it is your responsibilty to fund your child's college tuition?

When I was young we had a bank account where all our money was deposited. We had a choice to use the money for a car or for college. My brother opted for A, I opted for B.

There was not much in the bank but taught me to make wise decisions. My parents offered to "help" pay for college but I was too indpendent (I didn't want to answer to anybody). I joined the Military for the college benefits and took out loans for the rest. My parents did help with books and food though.

My children will be taking this responsibility for themselves. I have started an account for them and plan to help them when needed but I want them to do the footwork, balancing, budeting, applications, scholarships etc. I will help them all along but not monetarily. I would rather help them buy a house when they are finished with there education.

Re: do you think it is your responsibilty to fund your child's college tuition?

Not responsibility, but I hope that I will be able to.

Also, coming from a family that focused more on college expenses than on retirement - may I just say PLEASE focus on retirement. We can take out student loans for school but no one cares if you can afford to stay in your house AND the burden will fall on your children - obviously speaking from experience.

Anyway, my parents paid for my brother to go to college and since he is 12 years older than me he was supposed to pay for mine BUT I got a full scholarship and paid for my own graduate school.

ETA: I think I would also say something like if you got a CUNY or SUNY I will pay your way but if you go to a private school you are responsible for the difference.

Message edited 10/23/2008 11:01:31 AM.

Re: do you think it is your responsibilty to fund your child's college tuition?

Re: do you think it is your responsibilty to fund your child's college tuition?

Not my responsibility, but I will do everything in my power to be able to. Grad school I think is up to them.

Re: do you think it is your responsibilty to fund your child's college tuition?

Personally, when I have kids, I plan on put money away for their college education, but not the entire thing. I will probably follow suit with what my parents and my DH's parents did. Pay a portion and have them be responsible for the rest.

I wish I could afford to pay everything, but I also don't want to hold my kids back from going where they want to go and pursing the careers they desire. I will support them the best I can, but the rest is up to them.

Re: do you think it is your responsibilty to fund your child's college tuition?

Nope. We will help out as much as possible, and as long as our retirement is taken care of, but it is not our responsibility to pay for it.

I believe that a college degree is better off earned by the student. DD will be a better student if she understands that it is her money that will fund it.

Re: do you think it is your responsibilty to fund your child's college tuition?

One of the young people that I mentor told me a few weeks ago that he has to take out loans every semester and then when he passes his classes his parents pay the loan off.

I thought that was such a great idea. This instills in him that they will pay for his college tuition but not for his slacking off. If he gets a D in the class his parents do not pay the bill. I can't remember if he said they will pay for C.
In the situation with this youth it is definitely a contributing factor to him getting his act together.

Re: do you think it is your responsibilty to fund your child's college tuition?

Responsibility? Yes. I do think that if I can afford it, it is my responsibility to ease that burden off of my child. Why would I sit on the money and put that stress and debt on my child unnecessarily? He WILL be contributing in one way or another as a lesson of responsibility and to teach him that nothing in life is free. But it is my responsibility, as a parent, to teach my child values and the value of an education. So, yes, part of that responsibility is making sure he gets the best education possible. Just like my parents did with me.

Message edited 10/23/2008 11:20:21 AM.

Re: do you think it is your responsibilty to fund your child's college tuition?

Re: do you think it is your responsibilty to fund your child's college tuition?

It is my responsibility if it is my expectation for my children to go to college. However, DH and I will never have the means to pay for a four year degree and beyond, so we will do our best to come close.

Not every kid gets a scholarship. Not every kid is a straight-A student. Not every kid gets financial aid. I speak from experience. In my family, there are 4 siblings each with different scholastic aptitude. There are 7 degrees between us, (4 undergrad degrees, 2 graduate degree and one law degree) and only one of us got an academic scholarship. Sadly, it was not me. I'm not the family brain.

Just because a child's college education is financed by the means of his or her parents does not mean they work any less hard in class. It does not mean they do not understand the value of a dollar. It does not render them ungrateful either. We were damn blessed to have had parents who could do it for us. All they asked was that we did well and not EFF up or we would be yanked out. We made them proud.

Re: do you think it is your responsibilty to fund your child's college tuition?

I don't think it's my responsibility but I would like to be able to help DD out if I can. I do think though that I will let her be responsible for certain things (i.e. books, etc) just because I think college is a step into adulthood and adulthood requires learning how to manage your money.

Re: do you think it is your responsibilty to fund your child's college tuition?

No, I do not think it is a parent's responsibiity to pay for a child's college education. We will try to set aside money for this, but in the beginning it will be tough as we have our own school loans and other things to pay for.
I hope I will be able to help them out, but I do not feel it is my responsibility.
I paid for college myself, worked all through college to pay bills, buy clothes etc. I feel no resentment towards my parents in the slightest. They did not have the money to pay for my college education, and I did not expect them to do so.

Re: do you think it is your responsibilty to fund your child's college tuition?

For me, yes, I think it is my responsibility. My parents paid for my college, which was a private commuter school because I was not allowed to go away to school. During college, I worked a part time job, but for spending money and not to assist with books/tuition, etc. However, I paid (and still am paying) for law school. My DH got a sports scholarship.

My parents were very proud that their children went into the workforce without the burden of student loans. It is my goal to do the same for my kids and will likely take out loans myself to pay for it if I don't have the means to pay for it directly.

Re: do you think it is your responsibilty to fund your child's college tuition?

No but I do have a 529 for both of my children...

Re: do you think it is your responsibilty to fund your child's college tuition?

Re: do you think it is your responsibilty to fund your child's college tuition?