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College and University Discussion
Reply to "College Planning Upper Middle Class"
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[quote=Anonymous]You can pay for college out of funds other than a 529. So if you are unsure whether your dc will go to med school, you can save funds in a taxable account and have it available if needed. We lost a lot in in the 2008 recession and our 529 savings are not as robust as yours. But we have a high income and other savings vehicles we can draw from. We told our kids they could apply anywhere for undergrad. Dc #1 is going to a slac that is well respected but not overly competitive (think 50% acceptance rate). The school gave dc a very nice merit award so we only have to dip into savings/cash flow for a small amount as the 529 covers most of it. Dc #2 is attending a public university that is slightly cheaper than DC #1’s school after merit. So we got lucky. We will not be making any more contributions to the 529 and will discuss grad school later but will likely pay most of it (only dc 1 would attend). We would pay out of cash flow or savings.[/quote]
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