Reply to Parents of little kids: What are your college savings goals?

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[quote=Anonymous]My parents paid for about a third of my college tuition, which is what they could afford.  I got a scholarship for a third, and took out loans for the rest.  I got a work-study job to pay for books and stuff.  I have no doubt that if they could have paid for more (they had to take out loans to pay their third), they would have, because they valued education.  My husband's parents paid his full tuition.

We earn more money than my parents, but I do feel an obligation to pay it forward.  Right now we are on track to save about $100K in my kid's 529.  Hopefully the gains will increase that amount, and if we are able to contribute more in the future, we will. We also own a rental property that we refinanced so it will be paid off by the time she turns 18, and will therefore generate more monthly income (or can be sold) to help with college costs.

We might not be able to cover everything, and I'm not opposed to her taking out some loans to have skin in the game, but I want her to graduate without having crippling debt that limits her options.  [/quote]

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