Reply to Do you worry about being able to pay for college?

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[quote=Anonymous][quote=Anonymous]I was just reading yet another NYT article about MC kids saddled with high levels of SL debt and the effect this has on the economy (the housing market in particular). Honestly, as tuition continues to rise and public support for high education continues to fall, it seems like very few middle class families are going to be able to afford the cost of college in 15-20 years. It's crazy to me.

[b]If I may ask, how much do you save monthly or annually for your kids? How much do you have saved in total and how old are your children? Do you worry about them having to take out a "brain mortgage"?[/b] [/quote]

We used a $30,000 bonus as "seed money" when our first child was 4yo to start college savings.  Since then we have saved $400 per month per child.  Our kids are now 16 and 13 and we have a total of about $250K saved.

We plan to get them through school debt-free.  If they are very attached to a given school that is beyond our budget, we will be open to them taking on some small amount of student debt to do it.  Small = less than $20K for four years.

We do not plan to pay for their education beyond undergrad.[/quote]

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