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Reply to "College fund - yes or no?"

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[quote=Anonymous][quote=Anonymous]I realized after discussing with our circle of friends that not a single one of them has put away money for their kids' college funds.  They decided to put their money elsewhere - mostly into their house, but also more comfortable spending money on things like lessons and activities and camps for their kids, and on family vacations and entertainment.

We are on track to saving enough to fund their entire college education.  We would not qualify for need-based financial assistance.  College is dizzyingly expensive.  Are we making a mistake by putting money into their college funds?[/quote]

I would be concerned about the kids of friends and their options.  I consider saving for college and having a plan as part of the responsibility of being a parent.   Maybe their plan is for their kids to live at home and go to CC first yo save.  We saved and were able to pay for our children’s college in full (minus their spending money - that was on them).  We recently paid the last tuition payment.  We did it on less than many posters here say is the donut hole.

You are doing the right thing. [/quote]

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