Reply to Fully Funded College

Forum Index » Money and Finances

Reply to "Fully Funded College"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI just over 550k.

We have 2 kids 12&9. Both have Virginia prepaid tuition. We also have approx 100k sitting in invest that will presumably grow. We now only contribute a very minimal $250/mo in the invest. We consider college a done deal. Any extra will be paid out of pocket. I also hope I have raised bright children that take advantage of the VA public schools. I will consider myself a failure if they dont. Only a moron who hasn't been taught basic personal finance wouldn't go the free option. George Mason and UVA did both DH and I very well. Zero debt, great jobs, excellent local network.[/quote]

On that income you can afford to pay for where ever they want to go plus graduate school.  I don't get why you have so little saved.  Yes, you can do very well at a state school, but different kids thrive at different schools.

We have the prepaid and about $80K, maybe more for our 9 year old.  We have about $180K in income.  I'm tryin for about $10K a year, usually more.  We want to pay for college and graduate school. If child wants private and we can afford it we will do that.  My goal is debt free.[/quote]

Just because we make good money doesn't mean we make stupid choices with that money, nor does that mean we teach our kids financial illiteracy.. I don't consider a full state ride "so little".

Dh and I didnt "thrive" at GMU or UVA.  We went to school, got a degree, and used our network to get good jobs. College is a means to an end. Not a social experiment, nor a place for my adult children to find themselves in the most optimum environment.
[/quote]

Do you think a stiudenr who passes up prepaid tuition at UVA or GM for Harvard, Yale, Princeton or Stanford is a moron?[/quote]

The chances of any kid getting into any of those schools is slim. It's basically irrelevant to me.

But of you want to get down to it, if it means 200k in debt vs $0, I might say, yes. Book smart, but a practical moron.

As someone who purchased my first home in Vienna at age 23 and am now sitting on an enormous amount of equity from one real estate roll over to the next, I'd say I'd be behind the curve if I had gone to any of those schools and racked up debt. I would have never been able to buy a house straight out of college. Not a chance.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics