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[quote=Anonymous]I worked full-time for 13 years until child 1 was born, then part-time for 5 years until child 3 was born. Then I became a full-time SAHM. In those years before kids, I saved up quite a bit. I'm not patting myself on the back - my parents fully paid for my college and bought me a (used) car at graduation, so I didn't have any debt coming out of college. Having said that, I am also a good saver and not a frivolous or big spender.

Our income ranged between $100K and $160K most of the last 20 years. In that time, we put away $2K per kid per year for college. Our rising senior now has $55K for college from that money. In addition, we sold our house and bought a new house several years ago, and we put $35K of the equity into of our children's college funds. That is worth $45K now. We also had a relative leave us some money a few years ago, so we put $25K from that towards each kid's college fund. That is now worth about $30K.

So our oldest has a total of $130K going into his senior year of high school. We'll also cash flow $4K per year to take advantage of the American Opportunities Credit (we'll get back $2500 per year as a credit on our taxes). We've told him that we are looking for colleges that cost no more than $35K per year total based on what we have saved.

It's certainly not enough for an expensive private (unless there's merit aid), but I'm okay with the number of options we have at that price range. Our younger two kids will have a similar amount.

We were lucky not to have too many major financial emergencies along the way, but we also don't have lavish tastes (we do modest vacations, smaller home, cheaper camps, etc.).[/quote]

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