Reply to Experienced Parents: What was DCUM right/wrong about?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not saving enough with the justification of being in a good school district and relying on merit or financial aid and being disappointed when its not what you deem enough.[/quote]

Realism is sometimes hard to come by on this board. College and college prices have changed so much over the last 30 years that some are totally disoriented when they understand the current landscape. For some, that updated understanding occurs only as their kids are applying for college. That’s where state schools can be helpful, but some people don’t want to be bound by those options. [/quote]

It is so irresponsible. This is nothing someone should be surprised by when your kid is a senior. Our financial advisor told us[b] 20 years ago[/b] to save roughly $350k-$400k for each of our kids for private colleges and $200k for public college. [/quote]

Legitimate question: Should we all be fully bankrolling college (and even grad school)? Note that many loan options are primarily student loans (rather than parent plus).
Do some of you still expect your kids to contribute? We can afford it but are still planning on a contribution based on actual earnings or volunteer time (not requiring actual external student loans). 
[/quote]

We can easily afford college so we don't require our kids to do anything other than work during summers once college starts (Ie we don't require a job during the school year).  We also allowed our kids to have the summer before college without a job---as we have had a vacation planned each time that would have made it difficult to get a job for just 6 weeks with a break in the middle---so we allow them to just be kids for another summer.  Worked out well for us.  Oldest still got a job at school because they wanted to.  Youngest is an engineer major and really doesn't have time to work during the school year---we would prefer they focus on their studies.  
What we expect is for them to be financially aware. That means they get reasonable expenses, but if they want to go to a $200 concert each month, then we will say get a job.  We also expect them to do well in school--that is their job.   
I guess I don't see why we wouldn't help our kids with college fully as long as they are doing well [/quote]

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