Cost of college

[Anonymous]

I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

[Anonymous]

And another thing: why don’t poor people just stop being poor?

[Anonymous]

Maybe they don't have the extra cash to do that?

[Anonymous]

I wonder if poor people ever thought of just being rich instead?

[Anonymous]

OMG. You cracked the code!

[Anonymous]

Anonymous wrote:I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

Lol. Oh is that what I was supposed to be doing? Well, I earned do little up until the last two years that I was almost always in the red each month. Now that my kid is old enough to leave home alone, I have a second job so I’m now able to pay all of my bills. By next year, I can start saving. I have a 12 yr old so I’ve got six years to save. I could maybe save $10k or so by then.

[Anonymous]

No idea why you're being persecuted by the down-trodden. This is reasonable. Also, if your kid is a high scorer you can get close to a full ride at low and non-selective places.

[Anonymous]

I did - bought stock index funds in 529 - now have $1 million saved for 3 kids and have already paid for 4 semesters for the oldest

[Anonymous]

Anonymous wrote:

Anonymous wrote:I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

Lol. Oh is that what I was supposed to be doing? Well, I earned do little up until the last two years that I was almost always in the red each month. Now that my kid is old enough to leave home alone, I have a second job so I’m now able to pay all of my bills. By next year, I can start saving. I have a 12 yr old so I’ve got six years to save. I could maybe save $10k or so by then.

So in your situation, your kid needs to consider viable options:

1) start at CC, living at home if possible, and get their AA for minimal cost (they can work summers and PT to fund it themselves). then transfer to 4 year
2) Do Dual entry in HS, earning their AA for no cost, enter college (at a state school) as a junior and need 2-2.5 years to complete degree. Kid can earn $10K themselves and take $5.5K in student loans. If FA doesn't cover the rest you have $15K to figure out each year (and if needed the kid can earn more than $10K when min wage is $13/hr+)

3) Search for in-state or private schools that give excellent merit or schools that give excellent merit and FA

But there are still ways to do college affordably

[Anonymous]

I'm a poor who skipped middle class. There's a poverty trap and there's also middle class trap.
Traps are hard to escape, so I skipped the middle class trap.
Saving for college is one of many middle class traps. Not only that you don't see it, OP, but you promote it as a good thing.
You also cannot see what people forgo when they save for college.
I retired in mid 40s with enough money for both kids to go to college. Would have never happened if I had saved for college or put money in 401k.
College doesn't have to be expensive for citizens.Try being an international student.

[Anonymous]

Gosh- saving when my kids were little makes so much sense. I guess I should have done that instead of paying for daycare, saving into my 401K, buying an expensive house around here and I don't know- bypass eating?

[Anonymous]

Anonymous wrote:I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

We did.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

Lol. Oh is that what I was supposed to be doing? Well, I earned do little up until the last two years that I was almost always in the red each month. Now that my kid is old enough to leave home alone, I have a second job so I’m now able to pay all of my bills. By next year, I can start saving. I have a 12 yr old so I’ve got six years to save. I could maybe save $10k or so by then.

So in your situation, your kid needs to consider viable options:

1) start at CC, living at home if possible, and get their AA for minimal cost (they can work summers and PT to fund it themselves). then transfer to 4 year
2) Do Dual entry in HS, earning their AA for no cost, enter college (at a state school) as a junior and need 2-2.5 years to complete degree. Kid can earn $10K themselves and take $5.5K in student loans. If FA doesn't cover the rest you have $15K to figure out each year (and if needed the kid can earn more than $10K when min wage is $13/hr+)

3) Search for in-state or private schools that give excellent merit or schools that give excellent merit and FA

But there are still ways to do college affordably

I actually chose option #4. We will move back home with my dad who needs help himself anyway (with appointments etc since he can no longer drive due to Parkinson’s). Then I can save some of the money that was going to rent for college while helping my dad. My kid already babysits and pet sits and can’t wait to get a real job at 15/16.

[Anonymous]

Anonymous wrote:And another thing: why don’t poor people just stop being poor?

Perfect response to that tone-deaf post

[Anonymous]

Anonymous wrote:I know college is expensive and some parents don’t want their kids graduating with a huge debt-then why not start saving when they are born??

Well, when DC was born, I was making $25000 annually, DH was in grad school with a part time retail job, and we had to charge groceries in order to afford housing and day care.

Older kid attended OOS for about $140,000 total, younger stayed instate for about $100,000 total and it worked out. You don't HAVE to spend $90k per year per kid for college. My kids have no debt