Reply to Experienced Parents: What was DCUM right/wrong about?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not saving enough with the justification of being in a good school district and relying on merit or financial aid and being disappointed when its not what you deem enough.[/quote]

Realism is sometimes hard to come by on this board. College and college prices have changed so much over the last 30 years that some are totally disoriented when they understand the current landscape. For some, that updated understanding occurs only as their kids are applying for college. That’s where state schools can be helpful, but some people don’t want to be bound by those options. [/quote]

It is so irresponsible. This is nothing someone should be surprised by when your kid is a senior. Our financial advisor told us[b] 20 years ago[/b] to save roughly $350k-$400k for each of our kids for private colleges and $200k for public college. [/quote]

You advisor is absurd.  You don't need $200K for public.  [b]You do the prepaid[/b], like we did and then save for room/board/graduate school.  You tell your kids that they are going to a state school as that is what you can afford.[/quote]

Most parents have no idea when their children are small where their children will want to go to college.  hence, prepaid doesn't work for most families.[/quote]

[b]Exactly!  We have moved 3 times since the kids were born, each time to a different state.  Prepaid plans are not the best for many people.  Much better to front load a 529 so your kid can go anywhere.  Then your kids can do the state school where you currently live (if that's what you can afford/where they want to go)[/quote][/b]

+1.  Up until the final moment of decision for our senior in spring, it was down to Purdue, Ga Tech or UVA.  Prepaid wouldn't have made any sense for us because we had no idea where our kids wanted to land.[/quote]

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