Reply to Paying for and saving for college

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Reply to "Paying for and saving for college - how do UMC people do it?"

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[quote=Anonymous][quote=Anonymous]At $320k a year I don’t understand what the problem is. We earn about $150k a year and have been saving since our kids were tiny. They are now 13 and 8 and we have about $120k combined. Still not enough but much more than you have. How much are you saving a month?[/quote]

This^^^

At $320K a year, you are not getting financial aide.  It's good that you are saving for your retirement, but you also have to save for college and at your income level you should be able to do that comfrotably. You start saving now for college, you should be able to find $30k+ per year to put away at that income.  Then since you have not saved enough, you look at schools that are only $30-40K/year---you search for lower tiered schools that will give your kids money (if you don't get into your state flagship(s)) .

Let your father/FIL put money for the kid's education.  And besides saving you will need to plan to cashflow much of college while they are in college (or find a school that costs less).  
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