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[quote=Anonymous]To answer the OP's question. We are only promising to pay for our kids' undergraduate studies - and pretty much an in-state public college (or equivalent price) at that. We currently have about $135K saved up for our high school senior which will work out to be about a $35K school per year (we will also withdraw $4K per year for 4 years to take advantage of the Americans Opportunity Tax Credit (AOTC).

Our younger two children have a similar amount saved. My oldest doesn't plan to go to grad school. If there is any left over, it will be nominal, so I will either save it for his future children or put it toward the younger siblings' education. If any of the three have significant money left over because they earn scholarships then they can use that money for grad school. Other than that, we don't generally intend to pay for grad school, but we would revisit at that time and see if we can help out.

BTW, I beleive your financial scenario. We make less than you do and have managed to save pretty well for both retirement and college.[/quote]

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