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College and University Discussion
Reply to "Paying for college costs"
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[quote=Anonymous][quote=Anonymous]Have “well-funded” 529s started when they were babies. But not sure that we even have enough in the eldest’s for next year! He’s a junior. The costs are outrageous. But I admit we haven’t considered u of Maryland. I’m old ( went to college in the 70s) and a snob. Go ahead flame me[/quote] This is me, too (but college in the 1980s)! I felt good about the finances until the market turned bad last year. I'm looking at like a million dollars more of tuition expenses in the next few years (oh my gosh!) and lost like 15% in the savings plans last year. I would say that when I've worked out the budget, we deplete the actual savings midway through second kid's education (3 kids). But that's also when we pay off the mortgage on our house, so I'm figuring the mortgage money will be diverted to cover the college expenses. And I'll head into retirement with my 401K looking fine (we've always saved the max for that) but really no other savings outside of the 401k. [/quote]
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