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College and University Discussion
Reply to "College Planning Upper Middle Class"
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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 :/. [/quote] You need to bump up your savings a lot. Private schools are $70k plus a year, you don’t have enough for four years at a top 100 private school. You may get lucky with state honors programs, but they’re tough to get into. Despite not having enough, you are in an enviable position and you can do this! [/quote]
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