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]First, congrats on even thinking about this and for having saved for college and retirement. You are going to get all kinds of judgy DCUM replies; ignore them.

The equity in your home is great, but it is not going to help with college expenses. DO NOT borrow against your house for college expenses. I have no idea where your income is going. Maybe you had student loans consuming your money or you are supporting a parent or 3rd party. Without knowing we can't know where your money is going. Acknowledging we don't have perfect information, I would say that your saving rate on 300+k seems a bit low. It might be time to buckle down and see if there is room in your life to prioritize some additional savings.

And, yes, most people rely on loans and scholarships and all manner of things to pay for college. DCUM is not reality. It skews to partners at law firms and people who have family money and parents and grandparents who pay for college. It is not reality.

Good luck![/quote]

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