If your HHI is between 200-300k, how much will you have saved for college

[Anonymous]

Per kid? I feel like we are way behind on our 529. We won’t qualify for any financial aid (duh). I think we underestimated college costs.

[Anonymous]

It's not your responsibility to pay for college, OP. Adults are responsible for themselves. If you are 18, you are an adult. I raised independent adults who pay their own way for everything. If you want to go to college, you'll figure it out. If you do not want to go, you'll also figure that out.

[Anonymous]

We have three kids. Aimed for 120$ per kid. A little short on that for kid leaving next month due to market. Junior and sophomore will have little time to recover. We used to do 350$ a month many years but have upped to 1k per month now since we are still short. This is bas

[Anonymous]

Anonymous wrote:It's not your responsibility to pay for college, OP. Adults are responsible for themselves. If you are 18, you are an adult. I raised independent adults who pay their own way for everything. If you want to go to college, you'll figure it out. If you do not want to go, you'll also figure that out.

Why wouldn’t you help? I’m genuinely curious. Can you not afford it? Or you don’t WANT to, even though you could?

[Anonymous]

^ base on va schools at 30k a year. Though some are more than that now.

[Anonymous]

If it makes you feel better, you aren’t the only ones.

[Anonymous]

If we assume a 6% rate of return and an increase in costs of 5% per year like the calculators say, we will have $275k for our oldest and $350k for our youngest based on current balance and savings rate.

Neither of those amounts would come close to being able to full pay at a private school. We live in DC so no instate option and many of the really good state flagships are in the mid $50s to high $60s with room and board today…we’d be highly short of schools comparable to UVA.

The younger will have more because we upped our rate of savings when the youngest was 4 and the oldest was 9, so the youngest will have many more years to benefit from that (coinciding with the end of daycare which freed up $2k a month in our budget). We currently save $1000/month/child. Prior to about a year and a half ago we saved $4k/year/child.

[Anonymous]

Who knows, we save about $5k/kid (we have 3 kids) per year. Kids are all under 5. Will try to save more as they get older but we prioritize retirement savings, emergency fund, and travel. Whatever we don't have saved for college when it's time we'll pay out of pocket.

[Anonymous]

Anonymous wrote:It's not your responsibility to pay for college, OP. Adults are responsible for themselves. If you are 18, you are an adult. I raised independent adults who pay their own way for everything. If you want to go to college, you'll figure it out. If you do not want to go, you'll also figure that out.

WTF? Stop trolling jerk.

[Anonymous]

Anonymous wrote:If we assume a 6% rate of return and an increase in costs of 5% per year like the calculators say, we will have $275k for our oldest and $350k for our youngest based on current balance and savings rate.

Neither of those amounts would come close to being able to full pay at a private school. We live in DC so no instate option and many of the really good state flagships are in the mid $50s to high $60s with room and board today…we’d be highly short of schools comparable to UVA.

The younger will have more because we upped our rate of savings when the youngest was 4 and the oldest was 9, so the youngest will have many more years to benefit from that (coinciding with the end of daycare which freed up $2k a month in our budget). We currently save $1000/month/child. Prior to about a year and a half ago we saved $4k/year/child.

$350 is crazy. Most people aren’t paying this much for college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If we assume a 6% rate of return and an increase in costs of 5% per year like the calculators say, we will have $275k for our oldest and $350k for our youngest based on current balance and savings rate.

Neither of those amounts would come close to being able to full pay at a private school. We live in DC so no instate option and many of the really good state flagships are in the mid $50s to high $60s with room and board today…we’d be highly short of schools comparable to UVA.

The younger will have more because we upped our rate of savings when the youngest was 4 and the oldest was 9, so the youngest will have many more years to benefit from that (coinciding with the end of daycare which freed up $2k a month in our budget). We currently save $1000/month/child. Prior to about a year and a half ago we saved $4k/year/child.

$350 is crazy. Most people aren’t paying this much for college.

My youngest kid won’t enter college for 12 years. Many privates currently run close to $80k a year and top state flagships run an average of $60k. That’s $320 or $240 at today’s prices. The $350 we will have in 12 years won’t come close with rising costs unless something drastically changes for college pricing given that’s close to what people are paying today.

[Anonymous]

I’m aiming for $200k per child, $50k a year. Enough for in state plus something for grad. Or enough to get me to a point to pay the rest as they attend if they want private.

(I’m secretly praying for a sports scholarship for my girls in crew.).

[Anonymous]

$150k in 529s between me, Dh, and grand parents accounts. If we need more, we’ll cash flow it.

[Anonymous]

We’ve only saved about $160k total (2 kids! so far. They are in elementary.
Hope to have at least $200k each.

[Anonymous]

About $150K per kid, including the one that's still in elementary school.