How did your child pay for undergrad without going to bank of mom/dad/trust fund?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Aren't 529s "the bank of mom and dad"? You're still paying for it even if you put the money aside earlier.

I see your point. I was thinking the OP meant "how to pay for undergrad without loans if your family isn't actively rich." We aren't rich, but we ARE planners and savers, which might be almost as good, given how some rich people behave with their money.

Bank of mom and dad is the same principle regardless of how “hard” mom and dad had to work for the money.

It’s FREE money for the kid.

[Anonymous]

We contribute $10K per year. He pays for the rest. No loans.

[Anonymous]

Anonymous wrote:529

Your kid funded their own 529? If not, then this does not answer the question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Did they get loans to start and suplement with part time or summer work? Did they take year off from school to work?

We opened 529s for them before they were born.

Does not answer the question then.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Many of us worked in restaurants 30-40 hours a week making $25-$30 an hour.

The question says YOUR CHILD. Are you YOUR CHILD?

Agree. Thank you. Look for modern day answers.

[Anonymous]

Anonymous wrote:Combo of 529 and scholarships. No loans woo-hoo!!!

Does not answer the question.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Did they get loans to start and suplement with part time or summer work? Did they take year off from school to work?

We opened 529s for them before they were born.

Same

Why are you responding. This thread does not apply to you.

[Anonymous]

Anonymous wrote:GI Bill

Thank you for your input. That is terrific.

[Anonymous]

Anonymous wrote:$0: Generational Wealth

Then you for being out of touch. This does not answer the question.

[Anonymous]

Anonymous wrote:I asked my kid, who just finished his freshman year of college, if he knows anyone paying their own way through school. No. He knows kids who have scholarships and those on financial aid. But he has a bunch of friends and no one is paying their own way.

I think it is just super hard to do that at a liberal arts school.

Are they contributing anything? Seem irresponsible to go to college and not pay for oneself. Hope these kids repay mom and dad or donate the money to some worthy cause.

[Anonymous]

Nowadays it’s impossible to pay for college completely on their own. Better go to community college for two years and living at home while at the same time working a gig.

[Anonymous]

Anonymous wrote:Nowadays it’s impossible to pay for college completely on their own. Better go to community college for two years and living at home while at the same time working a gig.

+1. This question is poorly formed, because the reality of how kids pay on their own these days is they go to a small number of schools that are very generous in meeting full need (and this assumes the parents have lower income/assets), they go to community college, or they go to a very discounted state school part time for several years, likely while living at home. But their options are limited and many don’t end up with a 4-year degree.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Many of us worked in restaurants 30-40 hours a week making $25-$30 an hour.

This century?

lol

[Anonymous]

Crypto money and running scam centers.

How did they learn to hack? GUESS.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I asked my kid, who just finished his freshman year of college, if he knows anyone paying their own way through school. No. He knows kids who have scholarships and those on financial aid. But he has a bunch of friends and no one is paying their own way.

I think it is just super hard to do that at a liberal arts school.

Are they contributing anything? Seem irresponsible to go to college and not pay for oneself. Hope these kids repay mom and dad or donate the money to some worthy cause.

I appreciate your concern as a tuition paying parent.