Reply to Why or why not have a 4th child?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How are all of you planning or having 4+ kids affording college?

Are you just ok with your kids taking on a lot of debt and starting their adult lives behind debt free kids??[/quote]

We are on dcum so I imagine a lot of families earn a higher income and prioritize education. I have 4 and we made saving for college a priority. I do my own cooking and cleaning, we rarely travel internationally as a family and we live off of one (my DHs) salary and put my entire salary towards saving. It’s true that you have less money for luxury goods and travel with 4 kids but if both parents are earning decent money and are willing to budget, saving for college is not impossible. I will say, we’ve set aside a specific amount so that each child could likely do 4 years out of state or private or 4 years in state and also get help with grad school. We are not planning on fully funding phds for all 4 kids. [/quote]

+1. We saved and grandparents contributed money to the grandkids’s college accounts. [/quote]

It must be nice to have that sort of money. I'm sure most parents of 4 will not be able to save roughly $400,000 dollars just for their kids to all go to undergrad, simply by doing their own cooking and cleaning and gma and gpa pitching in.

Also realize that if your currently debating having baby number 4, that child will likely needa  PHD just  to make an average salary.[/quote]

Really? I have 2 and am saving for undergrad only. We may help with grad school, depending on the situation, but we are not planning on fully funding our kids through PhD programs. I don’t think it is at all irresponsible for people to have children and not plan to pay for all of their postgraduate work. [/quote]

Why would you assume that all 4 of your kids would want PhDs? They are so overrated unless they are in biomedical sciences or something that you can get fully funded. If your child is really academically gifted they will be able to get funding and if they can't get funding they probably don't belong in a PhD program, since there chances of getting a good job are really small.

Why not encourage your child to do well in college, go into a lucrative field post-grad, and then get scholarships to a competitive grad program and/or fund it through previous earnings? [/quote]

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