Reply to Is anyone not saving to pay for all of their kids' college?

Forum Index » Money and Finances

Reply to "Is anyone not saving to pay for all of their kids' college?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Speaking of CC’s, the first 2 years at CC becomes irrelevant because the last 2 years of college (transfer into a university) is where you get the degree.[/quote]

Emphasizing this as well. DS has just completed 2 years of CC and is transferring into a state university this fall with all his general ed CC courses completed and credited toward his 4-year degree. When DS graduates in the spring of 2024, we'll have spent $60K total to get him a degree from a 4-year state university; $10K for 2 years of CC, $50K for 2-years of tuition, R&B at the state university. Worst case scenario and DS doesn't graduate (b/c lets be honest, kids drop out of college all the time in the first 2-years), he'll still at least have an associates degree, which at least is more than a high school diploma.

I will also note I was a single parent and wasn't able to start saving until DS was 10-years old. For the past 10 years I've put aside $200/month without fail, and have been able to save enough to pay for a year and a half of state university. And that's with only get a small rate of return on my investments in a 529. Everything else I have been (or plan) to pay as I go. Worst case scenario, if I'm short, I'll ask DS to take a small $5K federal loan, since the interest rate is lower than a Parent Plus loan, and then make the payments for him (or pay it off entirely) once he graduates.

Anyways, all my way of saying is that college is still entirely doable w/o needing to set aside a significant sum of money every month from birth, and perhaps a little compromising a bit on the path to the 4-year degree. IMHO, those families that sock away $200K or more for a 4-year degree (which often can take more than 4-years) are the real financial fools. There are plenty of avenues to a college degree that are less costly and have the same return on investment. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics