How much to fund 529?

[Anonymous]

$400,000 each lowest and $700,000 each if med school or law school a possibility.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

I didn't have a 529. My son got into a Top 20 college. It costs around $60k per year. I contribute $24k, he takes $6k in student loans and the school gives him a $30k scholarship per year

Some of you are just insane spending all these money for a 4 years degree. Crazy.

Are you guys aware that universities provide scholarships? Just checking

Top schools do not offer merit aid and many family's do not qualify for financial aid but don't have 80k a year in tuition.

100% false.

[Anonymous]

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Lol

[Anonymous]

Anonymous wrote:

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Lol

It's reasonable for some people to save for law school, medical school, and other higher educational costs. My parents paid for those things, and they are still over the estate tax limit. When I went to school, the total cost of attendance was $50k (now it is over $90k), and my parents' income was over $1m at the time, so from their perspective, paying for undergrad and graduate school was a no-brainer. It didn't affect their quality of life, retirement plans, etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

Not a single one has ever been or will ever be a T10 national university. This is hardly aiming high. We’re talking Princeton, Stanford, Harvard, MIT, etc. UVA is at least worthy of a dismissive eye roll – everything else in VA is a joke.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

Not a single one has ever been or will ever be a T10 national university. This is hardly aiming high. We’re talking Princeton, Stanford, Harvard, MIT, etc. UVA is at least worthy of a dismissive eye roll – everything else in VA is a joke.

I would encourage you to broaden your world and look into what schools are ranked top for things like their College of Engineering... *hint - it is often Big State U.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

Not a single one has ever been or will ever be a T10 national university. This is hardly aiming high. We’re talking Princeton, Stanford, Harvard, MIT, etc. UVA is at least worthy of a dismissive eye roll – everything else in VA is a joke.

What a clown. Very few kids want to attend those schools. Even kids with striver parents usually have no interest. And you could have amazing grades, but it's still a crapshoot.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Lol

It's reasonable for some people to save for law school, medical school, and other higher educational costs. My parents paid for those things, and they are still over the estate tax limit. When I went to school, the total cost of attendance was $50k (now it is over $90k), and my parents' income was over $1m at the time, so from their perspective, paying for undergrad and graduate school was a no-brainer. It didn't affect their quality of life, retirement plans, etc.

I don't know the stats but if were to guess I would say maybe 2% of the US population has a yearly income over $1 million. With a single year salary they can finance your entire education. 98% of Americans don't have that privilege.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

Not a single one has ever been or will ever be a T10 national university. This is hardly aiming high. We’re talking Princeton, Stanford, Harvard, MIT, etc. UVA is at least worthy of a dismissive eye roll – everything else in VA is a joke.

What a clown. Very few kids want to attend those schools. Even kids with striver parents usually have no interest. And you could have amazing grades, but it's still a crapshoot.

You wasted your time responding to that imbecile POS

[Anonymous]

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Haha... no school in this country has a marginal value of $400K over somewhere a person who can get into a "top" school could go to for essentially free. Not a one. When I look at my college mates from a top 10 school on LinkedIn, now 20 years later, I see a couple great achievers, but the vast majority are just employees of some random company, that's it. There's nothing special about them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The good colleges cost $100k a year. You are barely half way and only have a few years left. You are behind.

Keep putting money in the account!

Waste of money.

+1 there are lots of good schools that don’t cost 100k a year. Some of you are just blind consumers

Says the person sending their kid to some State school. In my household we teach our kids to aim high.

What state are you in?

VA has: UVA, VT, WM…just to start.

Not a single one has ever been or will ever be a T10 national university. This is hardly aiming high. We’re talking Princeton, Stanford, Harvard, MIT, etc. UVA is at least worthy of a dismissive eye roll – everything else in VA is a joke.

What a clown. Very few kids want to attend those schools. Even kids with striver parents usually have no interest. And you could have amazing grades, but it's still a crapshoot.

You wasted your time responding to that imbecile POS

You did as well, peckerhead.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Lol

It's reasonable for some people to save for law school, medical school, and other higher educational costs. My parents paid for those things, and they are still over the estate tax limit. When I went to school, the total cost of attendance was $50k (now it is over $90k), and my parents' income was over $1m at the time, so from their perspective, paying for undergrad and graduate school was a no-brainer. It didn't affect their quality of life, retirement plans, etc.

I don't know the stats but if were to guess I would say maybe 2% of the US population has a yearly income over $1 million. With a single year salary they can finance your entire education. 98% of Americans don't have that privilege.

More like 0.5%.

Their answers to these questions are completely irrelevant.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$400,000 each lowest and $700,000 each if med school or law school a possibility.

Lol

We paid for our kid's medical school, and it was really expensive. I think we spent about 350k for it. I am sure it's higher now. What is LOL for?

[Anonymous]

We are saving about two hundred each in 529s. We have other savings/investments if needed

[Anonymous]

Anonymous wrote:We are saving about two hundred each in 529s. We have other savings/investments if needed

We had kids on the younger side, so didn't get the chance to save too much for college. But I figure that we'll be able to cashflow part of it (we did pay for daycare all those years, right?) And if we lose our jobs and are not able to do that, then I guess we might qualify for need-based aid. In any case, I don't understand why people think they need the full amount before the kid even starts college, it's not like you pay it all upfront. We have a few more years until the first kid starts, and we'll have at least 50k in the 529 (hopefully closer to 80k), plus another 100-200k in investments/savings.