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College and University Discussion
Reply to "What did you do about ‘fairness’ if one child’s education costs a lot more than the other’s?"
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[quote=Anonymous]We set up a college fund when our kids were born and allocated an identical amount to each child. We always let our kids know that a specific amount was available for tertiary education, and it was up to them how they chose to spend it. There was enough for each one to go full-pay to a good public school for four years, have a decent second-hand car as a student, and go on to graduate or professional school if they used their allotment wisely. They both attended public universities. The older one got a scholarship and saved enough to go straight on to an MBA. The younger went to a more expensive public school and paid full price. He worked for a couple of years and now wants to do a Ph.D. program. He has used up his allotment from us, but the program should be self-funding. I think it worked out for both of them. [/quote]
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