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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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][quote=Anonymous]I’m an only, but my husband and siblings had wildly different education costs. Only the youngest went to private HS. All 3 went to private universities, but with varied amounts of merit aid, distance from home, and living expenses. There was no “true up” to make it “fair”. Each child was promised a 4 year degree at a college of their choice and that is what they received.

That is slightly different from my college roommate who was not promised a degree, but instead was given a lump sum of money. She did co-op semesters and worked as an RA for her dorm and later as a TA. She was incentivized to reduce the cost of college because any money left over was hers to keep. [/quote]

I find that families tend to approach this differently based on their income/financial levels.

The rich/UMC tend to not be concerned "about fairness" because they can afford to and will pay for their kids needs thru graduate school and help them get established afterwards. They are more inclined to send each and every kid to "the best fit for the kid" school, no matter what the cost and don't want their kid to choose a "cheaper school" simply for the price---they want them at the best school for that kid.

The MC/UMC who did not save enough for college are more inclined to say "each kid has $X for college/grad school". it's on you to choose how to spend it.    But many will also say, we can pay at most $x for school, but finances are tight so let's try to find the right school at the best price, we don't have to spend $x total

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