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Money and Finances
Reply to "College applications -- apply to $$$$ schools or not?"
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[quote=Anonymous]We are also mid 50. Over 5M is investing both retirement and taxable , house is little over 1M. Each kids has 180k. Older kid is 11th grade. Younger kid is middle school. HHI is about 250k. We are continuing to put 8k per kid until they finish college. We told the oldest kid that our max 200k for 4 yrs. We will cover tuition, room and board. We cover his extra until he turns 18 next summer like eat out with friends. At 18, we plan to cut off his extra. We have not told him this yet. We can not imagine pay 90k per year for college. Too much for us. We have to save for our old ages. We don’t want and hope not to ask our kids for financial help. We only can help with the first 4 years. We prefer in state Virginia. It is just a plan for now. We wait until next school year ?[/quote]
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