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College and University Discussion
Reply to "If your child is going to school on a scholarship...."
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[quote=Anonymous]I set up trust funds for each child when they were born. I added money diligently and invested wisely. I told the kids that the trusts belong to them. Legally they do own them, subject to certain stipulations, although I am the trustee. I have told them the purpose of the trust is for their education and there is enough in the trust (by the way I share the exact numbers) for 4 years of private college, spending money and a little left over for grad school or a down payment on a house or whatever. I explained if they go to a state school there is enough for all of grad school and more. I try to treat them as adults but to give them solid guidance at the same time. Yes, it was my money, but once I put it in the trust it was for them and that is just the way I want it to be. BTW they are great kids with their heads screwed on properly, very hard working and goal oriented. [/quote]
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