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College and University Discussion
Reply to "When you can’t do it all, how to save for college?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Be very honest with your kids about college when the time comes. We have a lot of mortgage for our income - we decided we wanted short commutes to have more time with our kids and we're trying to pay it down faster. We're on track to pay about half of each of our two kids' undergrad. As we finish off paying our second mortgage and get them both into school, we'll increase. We also get some money from grandparents, which we save for college. However, I am banking on them investing in their own educations and planning to help pay as they go. If they want to go to a private school, they'll understand that they will have to pay more of the costs.[/quote] How sad for your kids you don't teach them to live within their means and your location is more important than their future. [/quote] NP. Location isn't just about the parents' commute. It is also a way to make more time for your family in the day. That's as important as $$.[/quote] I'd rather have an extra 30 minute commute and pay for my child's college. My spouse has a very long commute and you do it for the money so you give your children a better life. [/quote] This is ridiculous! You buy a house based on budget, commute, schools, neighborhood, and also what the actual house looks like. The house has to work for everyone in the family. It’s not selfish to have considered your commute as one of the factors when you bought your house. A top, private college is already $70K a year. That’s nuts. What’s also nuts is to spend your life commuting because your kid might get in. What’s even nuttier, is spending your life commuting so that your kid can pay full-freight at a lower-tier SLAC studying American Studies. At a certain point, live your life, save what you can, and hope it works out.[/quote] [b]We don't buy based off commute as my spouse changes jobs every few years and the locations flip. [/b]We plan to fully pay for a state school for college and graduate school and if we can afford more, great. If not, state school. If you want to overspend for a house and justify it and not pay for college, go for it. It speaks volumes of you as a parent. And a good parent preps their kids for college so they don't go study American Studies. College was $50K at privates 20 years ago so why is it a surprise its $70K now?[/quote] We bought based on best commute for most of the DMV area. And it has worked. We have worked, near L’Enfant, near Van ness, Bethesda, Chantilly, Tysons and Sterling. All were 20-45 minutes. Totally doable. [/quote]
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