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[quote=Anonymous][quote=Anonymous]Wondering how much you were planning on contributing towards your children's college education.  We make about $275K per year and have $3M in retirement assets so I'm assuming we won't get a dime of aid.  We currently have saved $220K which I thought would be enough..but now DD is contemplating medical school.  DD is a HS junior and if we want to pay for medical school, we need to start savings NOW.  We also have child #2 that's 4 years younger who also has $220K in college fund.  Hopefully, he doesn't want to go to grad school :/.

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Medical School is costly, but for the most part, your child should be able to get a loan and cover it once she's out working.  That was what DH had done.  As for grad school for your second child, many of my friends and I had our tuition paid for by the grad program we attended.  I guess that is provided your child is a good student in undergrad.  In our house, our rule of thumb is we pay enough for public college education for our kids.  If they want privates or out of state public program, they need to get their own loan or find scholarships through the colleges.  Or work!  My siblings and I grew up with the expectation of paying our own ways through undergrad (and we all did it on our own!) and it made us more responsible with our choices of colleges.  It also made us realize that we can't slack off in school or else we'd lose our scholarships.[/quote]

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