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College and University Discussion
Reply to "How involved are you in your kid's college decision?"
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[quote=Anonymous]This is a non-traditional approach that worked for my parents. They planned to pay for college and we visited schools together. I had a number of affordable options, including one with a full merit scholarship for room, board and tuition (does that even exist anymore!?!). My parents offered me a portion of the college savings, regardless of cost for the school that I choose. If I spent less than that amount, they would give me the balance after graduation. I ended up choosing a moderately priced option but not the very cheapest. After graduation, they gave me about $40k (over multiple years, avoiding gift tax). I used a little bit of that on travel after graduation and most as part of the down payment on my first house 10 years later. This obviously isn't right for every family but it worked well for us and was a motivator for me to do well in high school and earn scholarships.[/quote]
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