What does fully funded private for a 6 yr old mean?

[Anonymous]

I am assuming for undergrad only. How much does it mean for said child in 12 yrs?

[Anonymous]

Not sure of the question. We are hoping to have $400k by the time our son is ready for college in 11 yrs. No 529 though.

[Anonymous]

Means different things to different ppl but I’d think 4 yrs all in for an ivy or similar (tuition, room/board, all other costs) at the projected amount it’ll cost then is ready to go. Some ppl aim for more like 6-8 yrs — to be able to cover all of b, law or med school too. And some ppl say it and then you can tell it’s BS bc they’re just talking 4 yrs of today’s tuition - not the all inclusive cost 6 yrs from now when their kid goes.

[Anonymous]

When I hear someone say "fully funded private" I automatically assume they're talking about private schools. Not colleges. In other words someone, most likely the grandparents, are fully funding the private education of the kid.

If we were talking only about colleges, then I would expect the person to say "fully funded college" and also assume the sky is the limit (expensive private colleges).

[Anonymous]

Anonymous wrote:Means different things to different ppl but I’d think 4 yrs all in for an ivy or similar (tuition, room/board, all other costs) at the projected amount it’ll cost then is ready to go. Some ppl aim for more like 6-8 yrs — to be able to cover all of b, law or med school too. And some ppl say it and then you can tell it’s BS bc they’re just talking 4 yrs of today’s tuition - not the all inclusive cost 6 yrs from now when their kid goes.

Uh, no. This is fully funded for .1% of the population.

Get a clue. Yours is missing.

[Anonymous]

400k

[Anonymous]

4 yrs is typically $400k in private. So foolish to put that much 10+ yrs before the date. Kid may be community college material or at best public. I wouldn’t put more than a 100k. 6 yrs and assuming law or medicine is beyond ridiculous.