if you're using private, are you saving enough for each child to go to any college?
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Anonymous
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We are considering private for high school but at our income level ($400K) we know that our kids won't get need based aid at any college and the top schools don't offer merit aid.
We're on track for being able to pay $65K a year for college in the off chance that our kids attend Swarthmore or Cornell or the like but if we use private high school this will be be increasingly hard to keep up with. If you are sending your kids to private, are you also saving the max (assuming full pay at most colleges is now $50-70K) for college? |
Anonymous
| Factoring in the tuition we're already paying, we'll be able to save enough to full pay for college and also saving for retirement. It isn't easy - we're not anywhere close to $400k, but only have one DC to worry about. |
Anonymous
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This is what is keeping us from looking a private middle schools this year! We have 3 kids and know that we will not be eligible for any financial aid (nor do we deserve any). But saving for private college is pretty onerous.
We decided that at this point, we couldn't save enough for college and do private school. Our kids have been in public since K, but we have some concerns about the oldest and the middle school. The oldest will give public middle a try next year; we can always revisit in 7th or more likely in high school. Still, if you add it up, $30k/yr for high school is $120k per kid. With 3 kids, that's like paying another 1.5 college tuitions for high school! |
Anonymous
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Nope. We have money saved- about enough for 2 years.
All our kids know they need to find some scholarship $$ for school- either sports, merit or ROTC/service academy. |
Anonymous
| Grandparents are saving for college so we can do private all the way up to 12th grade. We are hoping our kids will go in state, but if not then we can manage private college as we won't have a mortgage by then and we plan on working till age 70. |
Anonymous
| Yes. |
Anonymous
| Grandparents have fully funded a 529 for each kid so we are able to pay for private high school and any additional college expenses needed. |
Anonymous
| No, we receive aid and have saved 0 for college. |
Anonymous
How responsible of you. |
Anonymous
What are my choices? I provide the best education there is now. |
Anonymous
Perhaps I'm being unfair, not knowing you at all, but I think anyone can save a little bit for college--just to demonstrate to their kids the importance of living within means and putting money away. And, I know from making annual fund calls, the people who are receiving aid often won't even chip in $100 for the annual fund. |
Anonymous
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Not really. So we may end up moving so that public high school is an option, and I can sock away more savings then.
I have some savings but at this rate it won't be enough. Well, maybe enough for in-state tuition, but a) I think she may do better in a small-ish environment, which most likely would mean a private college, and b) depending on state budgets, in-state tuition could jump, too. |
Anonymous
that's the route we are taking also. Paying it forward. Praying for financial aid/scholarships. I don't think it's irresponsible.. DC will go to college one way or another. |
Anonymous
we always do $250. Just to be on the safe side. 
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Anonymous
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We are just below $200,000 and I am not going to save for college. For us, it doesn't make any sense. I am making a trust that she will have access to after she graduates. That way she will still be eligible for maximum aid.
She will then be allowed to use a portion of the principal to pay off school. The rest will go towards rent. |