Reply to Future college costs - what am I missing?

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[quote=Anonymous][quote=Anonymous]OP, my child is in college NOW and all I have in her 529 is about $40,000.

We are managing. She's borrowing $5000 per year, and earning another $5000 from her summer job that she contributes.  That's $10,000.

I take $10,000 from the 529.

And I cash flow $10,000 (about $1,000 per month).

That's $30,000 for the year which covers her out of state tuition, room and board, more or less. (she has a merit scholarship bringing cost of attendance close to in-state.)

So I cannot comprehend how you won't be in a MUCH better position if you already have $30K in your kid's 529 AND you are contributing $7200 annually?

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And if you want to have in state fully in your 529, start with an extra $200 monthly now, so it has time to compound. That should get you there.

But yes, realize that in 18 years you will be making more and can likely cash flow a portion---what you will be paying for ECs in the teens can now go towards college (my kid was a dancer so $1K+ per month was being spent). 
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