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Reply to "Need advice on how to save for college - financially dumb parents and tricky situation"
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[quote=Anonymous]We have two kids (6 and 9) and we have not saved anything for college so far so we need to start doing something. We need advice on the best way to save at least something for them. we are 49 and 51. kids are dual citizen US - EU and frankly one option I hope we have is having them go to the University in my home country (where at least now tuition is like $1000 a year and most faculties have open enrollment) or in the UK, where the cost would still be a fraction that in the US. If they like science or medical school, they can certainly study there. But we would like to save money in case they decide to stay in the US for any reasons, and also to pay I part to go to Europe if they decide do go there. what is the best way to save in this situation? if one of them or both end up studying outside of the US (or not going to college at all) is there a way we can get the money back without losing a lot? I understand some college funds allow students to study abroad but there is a limited number of foreign institutions where a kid can go and use the money. sorry if this is confusing, but we need to start saving and we do not know what is best in our case. [/quote]
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