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College and University Discussion
Reply to "How do people finance grad school?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Parents here. We told our kids we will pay for everything. college, grad school, med school, law school. We are not rich but we live frugally for our HHI and we can afford it somehow. [/quote] You are a great parent! Can you explain the “somehow”? What does your annual saving look like? Do you use 529s or something else?[/quote] I don't think it makes you a "great parent" to "live frugally" and pay for your kids' law school and med school. I think it's going overboard. But that's just me.[/quote] I agree. I think it is a tremendous gift you can give a child if you can pay for their B.A./B.S. To come out of college with a clean slate, debt-wise, is wonderful. If an adult child of yours wants to go to graduate school/law school/med school etc., they should figure that one out. By that point, they are fully adults.[/quote] That’s a totally valid set of values, especially if you cannot afford to save for +$90K for medical/law school. Others (who can afford it) will value paying for post-undergrad education and help their children avoid starting their careers out with several hundred thousand in debt. [/quote]
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