"Fully fund" college... how much?

[Anonymous]

We saved what we thought private tuition, room and board would be. Made some big contributions when we could. We had that money ready to go about 2 years early.Kid currently last year of college. Housing costs have increased significantly at his college so we are having to supplement rent this year. Nothing left over for grad school.

[Anonymous]

We have $170K saved for my rising 9th grader (only child), 40K of which is VA prepaid. He can attend in-state and have money saved for grad school, or go private and take some loans (we will kick in some extra money towards tuition when he attends, but not enough to fully cover private plus room and board).

[Anonymous]

Anonymous wrote:How much are you assuming in annual tuition to fully fund college? How many years out are you from paying tuition?

Three years out from college tuition. Pay private school tuition now (from K).

Been saving for college, should have fully funded between savings and some payments from income. DC will most likely be able to attend most any school they get into.

[Anonymous]

Anonymous wrote:We plan on contributing until the accounts hits $500k. Whatever the kids don't use will go the their children. This is a very efficient way to transfer wealth.

But I thought the maximum transfer to Roth was $35k? We ended up in a situation of overfunding college due so this will be situation. Of course it could go to grandkids education but not really intention. Can you elaborate on your wrath transfer comment please?

[Anonymous]

We have HS kids and when they were born set a goal of $100k per year (so $400k per kid). Like PP, what isn’t spent will go to grandkids (we have 3 kids so at least one will have a grandkid I would hope).

We set up 529s before they left the hospital and have put money in monthly. We are on track. No help from grandparents. No huge sacrifices. My DH just lost his job and one thing we don’t need to stress is the college savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We plan on contributing until the accounts hits $500k. Whatever the kids don't use will go the their children. This is a very efficient way to transfer wealth.

But I thought the maximum transfer to Roth was $35k? We ended up in a situation of overfunding college due so this will be situation. Of course it could go to grandkids education but not really intention. Can you elaborate on your wrath transfer comment please?

DP. I think PP above is talking about wealth transfer down the generations to the grandkids.

We are similar in goal of 550k for DS. But we have passive income that can pay for college and are considering cash flowing it with this. Thus we would not need to touch the 529 at all and can pass it down to future generations. It’s an incredible vehicle to transfer wealth and pay no taxes at all on growth and withdrawal.