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Reply to "If your HHI is between 200-300k, how much will you have saved for college "
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[quote=Anonymous][quote=Anonymous]If we assume a 6% rate of return and an increase in costs of 5% per year like the calculators say, we will have $275k for our oldest and $350k for our youngest based on current balance and savings rate. Neither of those amounts would come close to being able to full pay at a private school. We live in DC so no instate option and many of the really good state flagships are in the mid $50s to high $60s with room and board today…we’d be highly short of schools comparable to UVA. The younger will have more because we upped our rate of savings when the youngest was 4 and the oldest was 9, so the youngest will have many more years to benefit from that (coinciding with the end of daycare which freed up $2k a month in our budget). We currently save $1000/month/child. Prior to about a year and a half ago we saved $4k/year/child. [/quote] $350 is crazy. Most people aren’t paying this much for college. [/quote]
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