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Reply to "Advice re underfunded college savings & well funded retirement "
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[quote=Anonymous]OP, what if your kid had a part time job that paid: $6250 for tuition each year of college an additional 40% of the tuition paid of what is left over from the $6250 if you worked a little longer ( see below). 40% of the in state amount. $721 per month tax free during school months all up $6400 per year Another $140 per month net for worked hours (16) on a set weekend once per month A $20,000 bonus paid partially at year 2 and balance at year 5 And approx 14K of wages paid for what amounts to training to learn to do the job performed one weekend per month, ( this part of the commit can be as short as 4 months but choosing a time slot closer to 8 months nets the 40% off tuition mentioned above. The training to do the job could be for work in computers, cyber, medical other useful fields complimentary to career goals. A security clearance also is included. All up this is close to 110K- 120K in college money and wages spread out over 6 years, pretty nice pay for part time work wouldn't you say? And by part time I mean 16 hours a month, after job training is complete ( job training varies but no more than 8 months) This is the current offer from The Virginia Air Guard and some of the $$ I included above is from the GI Bill and the Post 9/11 GI Bill which could be attained with a 90 day temp duty assignment. All up its 6 years of 1 weekend a month after the initial training. [/quote]
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