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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]If you make $350K a year then even a $60K COA is like making $290K and not having a kid in college. Ain't gonna starve on that salary.[/quote]
Do you work? Do you even understand the concept of expenses, saving for retirement, and maybe having more than one kid?

I don't think OP thinks they will starve, but paying $60k for two kids over like 6 years will hurt.  Many of us with college aged kids are also trying to help out aging parents and save for our own retirement.

IMO, saving for retirement is more important than saving for college. You can get loans for college. No one will give you a loan so you can retire.

And honestly, a $60k/yr college degree doesn't make any sense for most majors.[/quote]

+1000 Ugh!  I am a financial planner and we always recommend funding retirement over your kids' college and you can't just wait until the end because you need the years of compounding growth to accumulate.  But other comments on this thread say OP is a bad financial planner! This is so frustrating for those in my profession!  I would say anyone funding college before retirement is a bad financial planner. Funding your kids expensive college with the hope that one day they will support you is not a wise investment. It is speculation at best.[/quote]

We don't know why the OP can only afford $40K.  Perhaps they were not making $350K 10 years ago so couldn't save as much (very likelY).  Perhaps they have other necessary expenses (sick kid, kid who needs extensive therapies or specialized private school, sick parents, disabled sibling who they are responsible for, etc).   Kudos to them for recognizing what they can pay and searching for a place they can afford.  $40K will work at most schools over 60, because a kid with the stats for T25 schools will get great merit at most of those.  They can easily find 10-15 schools that come under $40K for their kid. 
Heckthe kid can go to UAlabama for much less. Sure it's Alabama and you have to live with that but it's a damn good education and they would come out debt free costing far less than $40K/year[/quote]

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