Reply to WWYD: Weird Paying for College Situation

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]So kid would rather use your money instead of theirs? Let them attend state flagship. They are smart, so should you. [/quote]

OP here.

To be clear, kid not asking and has no expectations.

OTOH, if kid had *not* received this inheritance, we would certainly have offered to help them pay for college or grad school, wherever they decided to attend.

Does that change your answer?[/quote]

100%. You should let the kid decide where they want to go as if money is not a factor. [/quote]

K, but what would you ask kid to contribute?

A PP suggested $25k yr (from their scholarship) plus living expenses from their $50k annual income.

You agree?[/quote]

I think spending 1/4 of the educational fund is reasonable.  I would have them save the $50K, and to work to pay for day to day expenses while I paid room and board.  I think if they wanted to dip into that money for something like study abroad, or to take an unpaid internship, that would b reasonable.

I would also reframe your thinking from “If we fulfill our obligations as parents we will retire early at 62 with a comfortable lifestyle”, vs.  “If we pawn off our responsibilities on our kid, we could retire very early”.[/quote]

Interesting! Would it change your answer if kid was receiving $100k annually for life? $150k?

In other words, is there a financial tipping point at which you think kid should become more responsible?[/quote]

One has nothing to do with the other.  They can use their college fund, the yearly allotment, and OP covers the rest.  Done.[/quote]

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