Reply to Parents of little kids: What are your college savings goals?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My DH wants to cover 100%, I think 33% from us, 33% from the kid, 34% from scholarships is reasonable.  Honestly loans aren't the worst thing that can happen to a kid and I think knowing going in that they have to pay for part of it will make them think longer and harder about public vs private, what major they want to pick and what their first job out of college will pay, the works.

I've told him that even if we hit the Powerball I'd stick to this plan, and then just pay off their loans as a graduation present. [b]I really think having a kid be personally invested in their college education on the financial side makes them take it more seriously.[/b][/quote]

Maybe so in old days when cost was under control. With COA of 25k (instate public) to 70k (private) per year, there's no way kids can contribute in a meaningful way. Don't rely on that approach. It's a really outdated thinking.

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If you truly believe there's no way for kids to contribute in a meaningful way to their own education, I'm sure your kids will live down to your expectations.  The people on this board really have an insular mindset about college -- not only is it necessary for everyone but also everyone has the ability to pay full freight and therefore doing anything less is tantamount to child abuse.  The kids of these parents are the ones I watched stretch "Communications" degrees into 6 year programs, knowing that mom and dad would never cut off the money flow because their precious angel absolutely had to have the best possible start in life.  [/quote]

How old are your kids? Have you actually done what you are preaching? If you have done it, and ONLY if you have done it, explain to us how you did it so we can learn from it. [/quote]

[b]What's to explain? [/b]Do you need a tutorial on applying for loans or something? Save the amount you want to cover, and let your kids make up the rest. Having your kid pay for part of their education is not child abuse, nor is it "outdated thinking."  That's what I did in college -- my parents could cover zero, so I earned a full ride.  For grad school my parents could cover zero, so I got some scholarships and took out loans for the rest.  Somehow CPS never got involved.

You don't want to learn from it, you want to discredit it.  Pay your kids' way, I'm not stopping you.  I'm answering OP to show that there's a different way than just refueling the helicopter until the kid hits 30.[/quote]

I put three kids thru college. While I understand your points, your post shows you are completely clueless. Good luck when the time comes.

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