Reply to “Fully Funded College”

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Because the funds can be moved back and forth I consider the kids 529 accounts all one pot.  Although the balances are different, we will make sure they each get the same amount.  [/quote]

But is there is any space between your children, how do you even this out? My kids will go consecutively to college, so I will never have two in at the same time, thus my younger will have less in his account at the time his sibling starts college because he was born 4 years later so we've been saving longer for the older one, but, depending on the market, things might look different 4 years later. So if I have $50k/year for the oldest, but then 4 years later the younger's account has done better, I might have $60k/year in that. Are you saying 1.) you would only give the younger $50k/year because that's what the older got or b.) you'd somehow split the overage and distribute half to the older child?  What happens if one of your kids gets a full ride somewhere, do you then divide your 529 savings by your number of kids and give the one that got the right a lump sum of their "share?"[/quote]

I'd split the overage, after accounting for inflation (so, in your example, if the younger kids' college costs $10k more, I'd call it even).  If one of my kids gets a full ride, yes I'm gonna gift them their share of the 529 money.  (You can do this penalty free if you get a scholarship).[/quote]

Huh. Interesting. Well, you’re a nicer parent than I am. I don’t actually consider the 529s my kids’ money. We don’t put gifts they receive in them, it all comes out of our earnings. So to me, if one child gets a scholarship, then we are in a better position to assist both children with graduating debt free. [/quote]

NP here. I think this is fine if the scholarship is to the child's first choice school and they are not pressured to take it out of economics.[/quote]

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