spinoff to 529 - who is paying for college?

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Re: spinoff to 529 - who is paying for college?

hmm...I made a poll - but it doesn't look like it is showing up...

So Are YOU paying for your kids education?

Are you and your DC going to pay for it?

or is it DC's responsibility?

Re: spinoff to 529 - who is paying for college?

We definitely plan on helping, but it depends on where they go. If it's a very expensive private school they may need to take out loans too.

Re: spinoff to 529 - who is paying for college?

We would like to be able to pay for our childrens college.

Hopefully we will be able to

Re: spinoff to 529 - who is paying for college?

I would love to think that they will get scholarships (whether it be academic or athletic), but if they do not, they will have enough in their savings for that.

I truly do not want my kids to have to be indebited forever to paying back school loans.

Re: spinoff to 529 - who is paying for college?

Here we go again - this has been discussed a lot too.

I have been saving since before DD was born. We expect to have enough for her education. However, I think having a student loan makes the child more responsible and vested in his/her education. So she will have to take out student loans.

The interest is minimal, it's the easiest money out there. Better financially in the end to keep $$ in savings/investment and get a student loan.

Re: spinoff to 529 - who is paying for college?

Well, since my parents are the ones currently investing in their 529, they will and we will pay the rest for them.

Re: spinoff to 529 - who is paying for college?

We definitely plan on helping out. However, both of my children will need to contribute as well. They need to work hard to acheive their goals.

Re: spinoff to 529 - who is paying for college?

I agree with scholarships as well. Definitley going to have DS go for them.
We definitley want to try to pay for it, however, if he decides to go away, he will have to help as well.
DH and I have to discuss it more. We do have a 529 that we started for him as well as Upromise (not much in Upromise, but, in 17 years, it may add up).

Re: spinoff to 529 - who is paying for college?

Re: spinoff to 529 - who is paying for college?

Posted by MrsR

Posted by karacg

Here we go again - this has been discussed a lot too.

Sorry - Didn't realize I am bringing up an old topic. The other topics just got me thinking...plus I am home with a sick 2 year old ...so I need to do SOMETHING to pass the time!!

Re: spinoff to 529 - who is paying for college?

Posted by karacg

Posted by MrsR

Posted by karacg

Here we go again - this has been discussed a lot too.

Sorry - Didn't realize I am bringing up an old topic. The other topics just got me thinking...plus I am home with a sick 2 year old ...so I need to do SOMETHING to pass the time!!

Oh that's ok - obviously I wanted to answer!! I am just waiting for drama again...

Re: spinoff to 529 - who is paying for college?

my parents were able to pay for my college education and I plan to do the same for my DC...I hope that I am able to....we are starting to save for it now

Re: spinoff to 529 - who is paying for college?

We hope to be able to pay for the bachelors degree, beyond that will be the childs responsibility.

But a ZILLION factors go into that. A lot of things can change over the years.....

Re: spinoff to 529 - who is paying for college?

there was drama regarding this topic

Re: spinoff to 529 - who is paying for college?

We are saving and plan on doing what my parents did with us...pay for most of it, and take out loans for the rest. They believed that we should not get a "free ride" because then we wouldn't appreciate it. And I agree with them

Re: spinoff to 529 - who is paying for college?

Yes. We have one and hope to have her college paid for .

Some months we cannot put as much as we would like to in it, but we have an agreed upon "minimum" that we said would be the minimum if $$$ is tight one month (or a few months). The goal for us is to contribute as much as we can so she does not start her life out in debt with enormous school loans. I would love for her to get a scholarship, then that $$$ would be added to our retirement $$$$.

Re: spinoff to 529 - who is paying for college?

Hopefully DS will be super smart and will get scholarships left and right. There are so many alternatives such as his savings, grants, loans and other means that I'm sure when the time comes we'll figure out a way.

Message edited 3/6/2008 4:19:25 PM.

Re: spinoff to 529 - who is paying for college?

Their college will be paying for them. They will be 6' 2" and both get basketball or volleyball scholarships.

Re: spinoff to 529 - who is paying for college?

Posted by stephanief

my parents were able to pay for my college education and I plan to do the same for my DC...I hope that I am able to....we are starting to save for it now

Re: spinoff to 529 - who is paying for college?

Posted by FireIslandLove

Their college will be paying for them. They will be 6' 2" and both get basketball or volleyball scholarships.

Re: spinoff to 529 - who is paying for college?

We are hoping to be able to pay for DS's college...but we also plan on having at least 1, probably 2 more kids. I dont know how realistic it is that we would be able to put 3 kids through college 18 yrs. from now on our own at $350,000-400,000 a child. I am hoping we will be able to pay for most if not all of their education.


The truth is, I dont think anyone can guess where they will be financially 18 yrs. from now b/c we have no idea what the world and the economy is going to be like. My parents didnt start a college fund form me when i was born...they only started really saving for my college when I was in middle school, probably closer to high school and even with that, they used some of the equity in their home to pay for my college. When we were young, our parents didnt think about saving for our college (at least I dont think most did) they worried about just making it.

I feel like all of a sudden there is this movement that people should pay for their childs education and start saving now...most people can barely afford to pay their monthly bills right now in this economy let alone save for their child's college. And I want to make sure that DH and I are financially stable so that when our kids get out of college they dont have to support us b/c we spent our life savings putting them there.

Re: spinoff to 529 - who is paying for college?

Re: spinoff to 529 - who is paying for college?

Dh and I both got academic scholarships and have already told DS to do the same

We will pay as much as we are able. I hope we can pay for all of it, but who knows what college will cost in 18 years

Re: spinoff to 529 - who is paying for college?

Posted by Diane

there was drama regarding this topic