s/o Is everyone on DCUM planning to pay for their kids college?

[Anonymous]

Don't get me wrong, we are putting away $$ in a 529... but neither my nor my husband got our degrees without some debt. Is everyone planning to cover the cost for their kids or is there still something to be said for a kid having a part in paying for their education?

[Anonymous]

Our kids will have to pay a (relatively small) portion of their educations and have a part-time job, unless there is some unique circumstance (learning disability, scholarship athlete, etc.).

However, it is important to us that they get through without debt just because that is such a powerful way to start your adult life. So we'll make it small enough of a portion that they're responsible for that it can be paid for with 15 or less hours of work per week + summer work.

[Anonymous]

Our kids don't know about their trust funds, so we plan to have them take out a portion of their educational costs in loans. Assuming they graduate and do well, the loans will be paid off (but they don't know that). A little skin in the game, whether real or perceived, is a good thing, I think.

[Anonymous]

Oh, and PP here, I don' want my kids to have a job in college. Maybe occasional nannying or housesitting ~ but otherwise not work during the school year and work in summers. We also hope that each takes a gap year before college (after deferring admission/being accepted), 1/2 volunteering 1/2 interning.

[Anonymous]

My parents are seriously blue collar and scraped to put together the money to make sure I graduated without debt for my undergrad. I think it would be an insult to their effort if I didn't do the same.

[Anonymous]

We are covering $20K per year, per kid. The rest is up to them.

[Anonymous]

Nope. We save what we can while maintaining our other priorities like retirement savings, home improvements and family trips, and whatever the pot will be when they go to college they will split. The rest they have to fund themselves, and figure out how to do it - jobs, loans, whatever.

[Anonymous]

I have a colleague who said his parents paid the tuition as long as he worked. He thought this was a great compromise because he had his own spending money, no debt and not enough time to 'get into trouble' like his peers (his words not mine). I thought this was in interesting strategy. He was also grateful to graduate with work experience and said he had a leg up on his peers.

What is the reasons behind not wanting you kid to work during college?

[Anonymous]

I'll pay for a useful degree. If my kids wants to waste four years on a degree that won't land them a job afterwards, well, then they can pay for that themselves.

[Anonymous]

We are. It is so much more expensive than when I went. And the debt can be crippling. I am not sure if there will be more $ for them, but we will cover their education costs.

[Anonymous]

Anonymous wrote:I'll pay for a useful degree. If my kids wants to waste four years on a degree that won't land them a job afterwards, well, then they can pay for that themselves.

That is so incredibly controlling and sad. How do you know what will land them a job or not? I have so many friends with liberal arts degrees who have gotten very wealthy.

[Anonymous]

My parents paid for most of it (public in-state) while I worked summer and a PT job during the school year which mostly covered my expenses beyond tuition/room & board.

I expect to do the same for my kids. I will not let them take on debt to go to undergrad because it can really limit your options.

[Anonymous]

We paid for college. Both kids worked in the summers but we didn't require they put that towards tuition. I frankly don't see a downside for our family. Both kids worked hard and did well in college. I don't think going in to debt would make their experience somehow better.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'll pay for a useful degree. If my kids wants to waste four years on a degree that won't land them a job afterwards, well, then they can pay for that themselves.

That is so incredibly controlling and sad. How do you know what will land them a job or not? I have so many friends with liberal arts degrees who have gotten very wealthy.

+1 I know a family that did this and their kids are all estranged now and seeking careers against their parents wishes.

[Anonymous]

Anonymous wrote:I have a colleague who said his parents paid the tuition as long as he worked. He thought this was a great compromise because he had his own spending money, no debt and not enough time to 'get into trouble' like his peers (his words not mine). I thought this was in interesting strategy. He was also grateful to graduate with work experience and said he had a leg up on his peers.

What is the reasons behind not wanting you kid to work during college?

Because I would rather see them play a sport (club or otherwise) or volunteer in their local community. I played NCAA athletics and learned more than any job would have taught me, I think. Of course, they are their own people so if they have a burning desire to work while attending college I would never stop them.