Reply to Is anyone not saving to pay for all of their kids' college?

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[quote=Anonymous][quote=Anonymous]We have two kids (now 15 and 17), each with a VA 529 plan; DH is the owner, children are beneficiaries. Contributed $4,000 per child per year since they were born and they have balances of about $99,000 and $114,000, respectively. I doubt this will cover any school in full without a substantial scholarship or out of pocket augmentation.

Most annoying is that [b]DH and I have gifted nearly $8,000 per year over the same 15-17 years to my parents with the mutual understanding that they would [u]use the offset [/u]to establish and fully fund additional 529 plans for our children.[/b] We learned over Christmas, however, that they’ve liquidated those accounts over the years to take luxury cruise vacations and buy a couple of nice Mercedes convertibles for themselves. Thanks, Boomer parents…. They took both the VA tax breaks every year as well as all the contributions and gains. [/quote]

What's that again?

What?

Why on earth did you do that?  That's insane.[/quote]

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