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[quote=Anonymous][quote=Anonymous]DH and I first had to pay back student loans, then save for a down payment on a house. Meanwhile we had kids and no family able to help out with infant/toddler care. So it cost us a boatload of money for full time daycare. Any extra money went toward saving for a house and toward our retirement. Then aftercare costs.

Then we finally were able to buy a house and between finishing paying back loans, paying the mortgage, funding our retirement, taking vacations to National Parks where we camped, theye wasn’t anything left to put toward college.

This is the situation for most of our friends who are the first generation to go to college. Our kids are going to state universities.

What is really tough is we counted that when both our kids were in college (2 year overlap) we would get financial aid because since our kids were born FAFSA has always factored in having multiple family members in college. That disappeared this year! So we aren’t sure how we are swinging paying for both kids when fafsa doesn’t factor that in and now student loans are being cut. [/quote]

My husband and I are both first gen Pell Grant kids, now UMC with family income @ $180k and two kids. We actually disagreed about paying for their college, so I alone started a 529. We started them too late, but it was better than nothing. First kid went to a mid-ranked Jesuit school, as they are known for offering great merit and terrific education in nice community. Second will do the same. With first our costs were about $160k, so @ $40k more than in-state UMD and we thought well worth it for smaller class sizes, dedicated advisors and more personal attention. We refinanced our house when rates dove and set aside some $$$$$$ for college. We also cash flow part of it. Now husband is proud to say, “Best gift we ever gave them - no student loans.” Second is following similar path and got even more merit aid. [/quote]

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