Reply to Did your parents (step or otherwise) pay for your college? Will you pay for your kids?

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[quote=Anonymous][quote=Anonymous]I understand that, due to inflation, it's no longer financially feasible for an 18-year-old to put himself/herself through a four-year college full-time on his/her dime by employment alone.

My answer to my thread query:  My parents did not pay for our college educations.  We are now 52, 50, 46, and 44.

I paid for half of my oldest child's degree (she chose a private college and took on some loans).  I'm paying 100% for my 20-year-old's degree (she's at a public university).  I'm paying nothing for my son, because he was awarded a full ride.  For my last child, I intend to pay 100% for a public college and up to that amount toward a private college.

Tangential to the original question, how do you feel about this topic?  I was stressed as a young adult paying for school, and I finished my education by working full-time and going to college at night to complete my B.A.  I don't feel resentful toward my parents.  I clearly decided to contribute toward my own kids' educations, though.
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My parent saved and paid for both my and my sisters undergraduate college.  We were responsible for our spending money.  This was in the 1980's.  Dh had a scholarship that paid for the first two years and a co=op that help pay for the next two years, his parents paid for the net.  His parents paid for all four of their children's college (some 100% some like DH much less).

It was great to graduate without any loans and it enabled both DH and I (independently as we didn't meet until later) to pursue opportunities that would not have been practical or prudent if we had had loans to repay.  We have always felt that it was our responsibility to pay it forward and we started saving before we had children. So we planned well ahead. Fast forward and we have two children in HS. We are on target to be able to pay for almost all contingencies.

Like myself and DH, our children will be responsible for their pin money and we will try for merit scholarships.  However, we do not intend for their college choices to be completely without attention to cost.  They know that if they go to in state schools or work hard and earn merit aid, there will be money left over for grad school or other things (travel?, transportation?, parents spending more in retirement  :wink: )  It really will be a case by case to see what is the best fit for the best cost.  Both have some special issues that will have to be accounted and that make the college choice more complicated.[/quote]

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