s/o Is everyone on DCUM planning to pay for their kids college?

[Anonymous]

Hope to do exactly what my parents did for me. They were first generation immigrants to this country, earning decent professional/middle class salaries (but not DCUM-level salaries!) and fully paid for my liberal arts (Ivy) degree and subsequent law degree. Very grateful for their sacrifices, and am saving to hopefully provide the same for my kids! I may want them to cover some portion though, as a financial education matter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Who says you can't get a decent education at a community college? There are lots of allied health professions that can pay you a decent salary (60k+) on just a 2-year degree. I see non reason why students or parents should pay top dollars at 4-year colleges for useless core classes (psychology, history, social studies).

I didn't say you can't get a decent education. I did say that it may not fit your child's goals. You just decided that only thing anyone needs is a career in health using an associate's degree. Maybe your child will want to teach English or build robots.

I don't understand scripting a child's choices, whether it is by insisting on elite colleges or community.

It's about providing a low-cost way to attend college. Some of my friends with middle class parents attended community colleges for two years and then transferred to four-year colleges. They saved thousands of dollars and still ended up with a decent college education.

[Anonymous]

Yes, we're paying for kids' college. Also paying for the food and clothing and even some things for entertainment and fun. It's a pretty simple thing -- when we decided to become parents, we decided to pay for things (within our means) that helped them on their path to responsible adulthood. If they decide to pursue a vocation that requires an education, we'll pay for that. Totally get that some people are stretched too thin to pay for college and a secure retirement, and those people have to make tough choices. But, for people with means who'll withhold money for an education, I just hope they realize that they can't take it with them.

[Anonymous]

Anonymous wrote:Yes, we're paying for kids' college. Also paying for the food and clothing and even some things for entertainment and fun. It's a pretty simple thing -- when we decided to become parents, we decided to pay for things (within our means) that helped them on their path to responsible adulthood. If they decide to pursue a vocation that requires an education, we'll pay for that. Totally get that some people are stretched too thin to pay for college and a secure retirement, and those people have to make tough choices. But, for people with means who'll withhold money for an education, I just hope they realize that they can't take it with them.

A lot of people who can pay don't without it to be stingy - its so the kids have skin the game. I plan to pay tuition/room/board for undergrad but my child is responsible for eating out/entertainment. Grad school I'll pay half. Not because I can't afford it but because too many kids waste a shit ton of money on grad school because they don't know what they want to do or just don't want to face the real world. Hence, skin in the game.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Who says you can't get a decent education at a community college? There are lots of allied health professions that can pay you a decent salary (60k+) on just a 2-year degree. I see non reason why students or parents should pay top dollars at 4-year colleges for useless core classes (psychology, history, social studies).

I didn't say you can't get a decent education. I did say that it may not fit your child's goals. You just decided that only thing anyone needs is a career in health using an associate's degree. Maybe your child will want to teach English or build robots.

I don't understand scripting a child's choices, whether it is by insisting on elite colleges or community.

It's about providing a low-cost way to attend college. Some of my friends with middle class parents attended community colleges for two years and then transferred to four-year colleges. They saved thousands of dollars and still ended up with a decent college education.

I did. i went to NVCC and transferred to UVA. Graduated debt free.

I'm in sales now and make anywhere from 300-700K/yr. UVA has helped me tremendously in this town. For many of my colleagues it is either UVA or VT and either school goes a long way when looking for a job and getting set up for success and luck.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, we're paying for kids' college. Also paying for the food and clothing and even some things for entertainment and fun. It's a pretty simple thing -- when we decided to become parents, we decided to pay for things (within our means) that helped them on their path to responsible adulthood. If they decide to pursue a vocation that requires an education, we'll pay for that. Totally get that some people are stretched too thin to pay for college and a secure retirement, and those people have to make tough choices. But, for people with means who'll withhold money for an education, I just hope they realize that they can't take it with them.

A lot of people who can pay don't without it to be stingy - its so the kids have skin the game. I plan to pay tuition/room/board for undergrad but my child is responsible for eating out/entertainment. Grad school I'll pay half. Not because I can't afford it but because too many kids waste a shit ton of money on grad school because they don't know what they want to do or just don't want to face the real world. Hence, skin in the game.

Fair enough, but that's a totally different animal than the posters above who said "I make $2M per year but paid my way through college so my kids can do the same" or "we'll pay for community college but nothing else."

[Anonymous]

Nope. My kids can pay for their own college. It certainly won't kill them, and it will make them appreciate it more. Nothing is free in this world. Why should they begin their adult lives thinking that college is?

[Anonymous]

I told my 9 year old I will pay for what I can, but he'll have to cover the rest. I tell him thats why he needs to do well in school and try to get scholarships for college. I'm a single mom, and have to make sure I'm covered for retirement and medical issues in my old age.

[Anonymous]

Anonymous wrote:Nope. My kids can pay for their own college. It certainly won't kill them, and it will make them appreciate it more. Nothing is free in this world. Why should they begin their adult lives thinking that college is?

Do you also bill them for their shoes? Parental support, at the level that is appropriate to your income, for college expenses is simply part of getting children started in life. If you do not have the money, you don't have it. But if the FAFSA kicks back an "expected parental contribution" figure, colleges expect the parents to produce roughly that amount. Financial aid is not going to cover "I don't feel like paying because indepedence."

And the only way for a child to make up the gap is to work minimum wage to $10 an hour making up for what their parent making $30, $50, or more per hour could cover.

Waste of valuable time.

Skin in the game is not the same thing as being thrown from the boat.

[Anonymous]

My parent paid some, but gosh I don't know HOW in this day and age my husband and I will ever be able to do it! We are 4 years away from our first going, and it looks nearly impossible even now! I had jobs, worked on campus for few room and board, yet still I had 10k in loans. And thats nothing compared to what my kids are going to be saddled with. It's definitely a haves versus have-nots world.

[Anonymous]

We will pay 100% for them. My father told me when I was in college he would pay for my education to the level I wanted to go even if it meant for him to sell everything he owns including his walking stick! So I will do the same.

[Anonymous]

Anonymous wrote:My parent paid some, but gosh I don't know HOW in this day and age my husband and I will ever be able to do it! We are 4 years away from our first going, and it looks nearly impossible even now! I had jobs, worked on campus for few room and board, yet still I had 10k in loans. And thats nothing compared to what my kids are going to be saddled with. It's definitely a haves versus have-nots world.

How many here are looking at sending your kids to foreign countries (in practice, Continental Europe) where many countries offer very low or even free tuition to all qualified students regardless of nationality?
"Qualified" may mean the requirement to speak local language at a passable level, but learning that over several years may be not too bad compared to six-digit tuition amounts over 4 years.
Some may also qualify for local citizenship based on ancestry, it's even better then of course.

[Anonymous]

Anonymous wrote:We will pay 100% for them. My father told me when I was in college he would pay for my education to the level I wanted to go even if it meant for him to sell everything he owns including his walking stick! So I will do the same.

My mother always promised to take a second job flipping burgers at McDonalds if that is what it took.

That being said, my siblings and I were promised Undergrad only. My parents could have easily afforded to pay for grad school, but to them it became a fairness issue. I was the only sibling to go to grad school- so I am the only sibling with student debt.

[Anonymous]

We will pay as much as we can so our children won't have debt. State school will help in this regard. Luckily our state school is amazing.

[Anonymous]

Anonymous wrote:My husband is giving/gave his GI bill to our kid so we don't have to worry about it. But we expect her to be employed during the summer and she works less than part time as a tutor with the local school district.

We're also going to help pay for grad school.

GI Bill benefits are not transferable to children. They end 15 years after mustering out.