Reply to "Fully fund" college... how much?

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Reply to ""Fully fund" college... how much?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Serious question- why don’t people with high incomes just pay out of pocket for college expenses instead of running the risk of saving too much in a 529?  I know 529’s can be transferred but what if your kids don’t have or want kids?  So many variables.[/quote]

I agree-  We live in Maryland and put up to $2500 per year per child in a 529.  We saved the rest elsewhere, for that reason.  One got a B/K at UMD and went.  We paid for the masters and bought them a new car.  The other went to a T-50 private with merit at 40K per year.  Don't put 250K + in a 529, you don't know how it will end up for your kids.[/quote]

You can always save it for your grandkids (tax shelter), grad school, or roll a portion over into an IRA.  If your child gets a scholarship, you can withdraw the amount equal to the scholarship without penalty. [/quote]

Yes we could have, but we made more money in better investments.  Our kids could have gone wherever they wanted, but we didn't need to have $500,000 saved for college.[/quote]

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