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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Poster was trying to be cleaver and hide the  money for financial aid.  The entire situation makes zero sense to hand over money for them to get minimal tax savings to save for the kids.  Your kids come first.  Very greedy to expect financial aid when you can afford to pay.

Yup and the poster got indignant when called out in her failed greedy attempts. I love that she was the one who got screwed in the end.

I don't even understand this.  Why didn't she just open additional accounts for each child and fund that with $4K per year.  The deduction is per account, not per child.[/quote]

PP here. Obviously my primary objective wasn't to maximize savings for my kids using only my own resources. As noted, I could have easliy opened multiple accounts per child and gotten my own, additional VA tax breaks. My objective was to empower my parents to engage as caring and involved grandparents...for the sake of my children, for them to grow up with fond memories of and a positive relationship with their grandparents. DH's parents passed away many years ago.

Unfortunately, I basically need to pay or give something to my parents for them to express any sort of care or concern for their only grandchildren. It has been this way for 17 years. For instance, they joined us on vacation 3-4 times over the years but ONLY when we paid their way AND we ensured they had the nicest first class seats, the biggest of the hotel rooms or suites, and recognition in front of their friends and neighbors as the ones sponsoring the trips, even though they never did. This was [b]normal – mandated by them as an appropriate sign of respect to one's parents and elders – [/b] and so was giving them $$$ every year so they could turn around one day and help pay for their grandchildren's college expenses, like all good grandparents should want to do. Just didn't think they would liquidate it all and leave their grandkids in a lurch.[/quote]

It seems like you had every indication based on a history of narcissism that your parents would take that money as their due and deploy it how they wished.[/quote]

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