Reply to Should I just tell DS what we have in his college fund?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes but don’t say 300 that he needs to share. Just say it’s 150 (or 130) that you have saved up for him.[/quote]

[b]Oh, yes. He’ll resent the sib if he has to share 300. Not an issue if you tell him he gets 130all to himself. Definitely, 100% tell him at least $10,000 less than you actually think you’ll have. It’s better to be pleasantly surprised, than disappointed. Also, go over the finances of loan repayment in painstaking detail. Include scenarios where the economy tanks, and he’s under-employed for a year. My SIL’s parents never talked to her about that and she’s absolutely buried in debt, with huge regrets.[/quote][/b]

To OP - be conservative with whatever you tell him.  I had trusts set up for our children's college educations (this was pre-529s so we just stayed with the trusts) and they were absolutely hammered by the 2007-09 recession.  There may be another big dip coming in the stock market - assuming you have this money invested.[/quote]

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