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Reply to "S/O What is our obligation as parents regarding college $$$?"
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[quote=Anonymous]We always told our children we will pay the equivalent of in state tuition (or maybe a little bit more) for undergrad. And that anything past that, would be up to them to finance. However, we are planning/hoping to help them with their loans (they all took the max Stafford loans- about 30k) and graduate school after we don't have any more children in college. We do not live in a excessively large house, drive fancy cars, take exotic vacations etc. Our HHI is more than many, but my husband and I were first generation college students, and he had an enormous loan debt to overcome after several advance degrees. So we try to balance paying off the mortgage on our modest home, saving for retirement, and funding college. We were playing catch up for a long time there with his student loans. So we feel like this is a good compromise for us. And from the start we were always honest with them about how much we were going to fund. [/quote]
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