Paying for grad school after DS has received a scholarship for undergrad...

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH wants to use son's college fund for retirement. We paid for undergrad for DD but it seems likely she will have significant assistance from her college for grad school. DH is operating from the position that money for grad school was not promised to either child.

But where did you keep that money? If you kept it in a 529, then it's not fungible for retirement. You can either spend it on this kid or her sibling's education. You can't just roll it over for retirement or other purposes. Maybe you can pay a fee to get your money out? Otherwise you're committing fraud. Also, didn't grandparents and relatives put money into that? You can't steal their gifts for your child's education and reassign it to your retirement account.

Who said it was in 529? Stop assuming, many people don't have that.

[Anonymous]

I got a merit scholarship to both undergrad AND grad and didn't have a STEM major for grad. I think it's less likely than it was 10 years ago when I went to grad school though.

If it helps, my parents paid for my siblings' undergrad and not grad school. I have always felt a little slighted that they invested $$ in my siblings but not me, simply by dint of the fact that my hard work in school paid my own way. Sort of stings that they spent tens of thousands on them and nothing on me and didn't even thank me for getting a scholarship and saving them so much.

OP, no matter what you decide, make sure to let your DS know how amazing it is that he did this.

[Anonymous]

I think part of what should factor in here is whether your ds went to his first choice school, or feels like he compromised in his college choice in order to take the merit scholarship to save money.

Also it depends on how much money you have.

[Anonymous]

Anonymous wrote:I would definitely pay for it, especially because he worked hard and earned a merit scholarship for college.

+1

[Anonymous]

What a weird discussion. If you need the $$ for a secure retirement then use it for that. Help out to the extent you can. A 20-something college grad with no debt on her way to grad school should be able to fund herself. Hint: if she has to be paying high tuition bills for a grad program it is not worth it, unless it is a program like med or law where it is assumed you will have a high income after graduating.

[Anonymous]

Are you weird for participating in a weird discussion? I enjoy reading all of the initial posts under the school categories.