Reply to MD 529 pre paid tuition debacle

Forum Index » Money and Finances

Reply to "MD 529 pre paid tuition debacle"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have 4 years pre-paid with for one kid.

Not sure what we will do. Explain it in plain english - what's the ideal move?

[/quote]

I think you are a bit like me - I am the one who posted today and pushed this up again.

Thing is that I was split between 529 and the Prepaid and ESSA. That came for me because I had someone that had a daughter going to college just as 2008 happened. As he said, "I had 4 years saved, now I only have 3."  To me it was about balancing risk.  (In total, between prepaid, 529 and ESSA - I am sitting on $108K. Pretty well split between prepaid and 529/ESSA. All the while knowing if he didn't go to a public university that I certainly barely have anything saved!)

So the person that suggested leaving the sophomore's money in and moving child #2s money is about right probably for me. He's too close to going to me to want to take on risk.  But for #2, she is farther out and I can roll with any bumps that come along.

Plain English is - How far out are you and how much risk you want to take?[/quote]

My kid is 4.5. He starts K in the fall, so we are 13 years out. We paid around $44K right before his first birthday.

We bought the prepaid because it’s a defined benefit. It’s our “in case a parent dies” backup plan for college, the kid has 4 years of college covered somewhere. MD has been pretty good at keep tuition inexpensive, but there’s no guarantees they won’t go the path of Penn State (high instate tuition).

I guess our needs haven’t really changed. Would still prefer a defined benefit, as spouse has a well-managed illness that could eventually hamper ability to work. [/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