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College and University Discussion
Reply to "Are we suckers for diligently saving in our kids' 529s?"
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[quote=Anonymous] Of course you are taking a risk with a 529---the risk being that your child does not go to college. But no investment is risk free. The risk of not saving was greater for us. If our child had to take out college loans, his interest rate would more than offset the 3500 we would lose by taking the risk that he would not go to college. These are sort of the life calculations you make. But, if you have plenty of money, you probably do not need a 529. I certainly would not count on a college giving you extra financial aid because you don't have a 529 though. Many colleges ask about all of your assets and they will see your money in other places anyway. There's no getting a "deal" because you hid your money. The colleges are pretty savvy on this stuff. Just save. [/quote]
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