Reply to Are you planning to pay for your kids' college fully?

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[quote=Anonymous][quote=Anonymous]What do you think of this idea?  My kids are little yet and I'm not sure it will make sense when they're in their teens and shopping schools, but we plan to have at least $150k set aside for each of them.

My thought was that they be made aware of this amount, and be included in the decision-making process as to what to do withe that money.  They must get an undergad degree in order to access the money, but they can do whatever they want with any leftover funds (grad scool/start a business/downpayment/travel). But after that funding is gone, they shouldn't expect more.

My hope would be that it would make the decision to go in-state vs. out, or take out loans, go to grad school, more of their decision and utilize their money management,

Is that too much to to expect of an 18-year-old?[/quote]

We actually did this with our two older kids.  They had a pot of money that would be enough to fund 4 years instate.  Anything more (5th year, out-of-state) they would need to figure out.  Also, scholarships would "free" up money.  FWIW, both kids graduate from VT on time with honors with most of the money still in the kitty.  This came from summer jobs, scholarships, and economizing.  It can be done.  Both kids are now employed FT with good jobs and out of my house.  One just used the funds for a down payment on a house, the other for graduate school.  This worked for us and we will be doing it with youngest.[/quote]

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