Reply to I genuinely don't get saving for college for kids

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[quote=Anonymous][quote=Anonymous]People save for college so that they can give their kids a head start in life.  Your kid may or may not get merit aid.  What’s more, the best schools do not give “merit” aid and your income/net worth will count against their need based financial aid.  Even a “cheaper” school may be out of reach for your kid in that case.  If you can pay as you go, this is obviously not an issue for you.  If not, do you really expect your kid to turn down a top tier school or be saddled with tens of thousands in student loans because you didn’t want to save for college?   [/quote

This in a nutshell. College is not the same as when I went. Even then I had nearly $80K in loans (from undergrad and grad school). I paid them off but it sucked. And limited what career path I took b/c I needed the money to pay them off. And it set back saving for retirement, buying a home, etc.

My child will be able to mostly anywhere she chooses b/c we saved aggressively for it. I hope she gets some aid based on her grades, etc. Or other scholarships. But, that is FAR from certain. Plenty of smart kids don't get significant scholarships.

We look at this as opening up options and not saddling herself financially as she starts her adult life. I certainly don't want her to experience the struggles I did just b/c of college tuition. It was grim: eating little beyond noodles and cereal type products, no traveling, no home, working MULTIPLE jobs at once while in school to swing it. [/quote]

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