Anonymous wrote:by realizing that we had 18 years to save and starting early

+1. You know college is in your parental dreams as soon as your kid is born (if not earlier). Start saving early. Two benefits from starting early: (1) You have more dollars you can put into the 529, and (2) you benefit from stock market growth over the period (your money works for you). Another poster noted that the money they paid for daycare became the college savings after their kid started school. That's smart.

This isn't hard. It just takes thinking ahead, and sticking to your goal.

They don't.

Normal people make $70k a year. Their kids go to state schools or community colleges.

common market provides access to in state tuition for out of state colleges

We saved a little, we are paying out of pocket, we refinanced and took some money out, we have loans and my work has a loan repayment program.

Anonymous wrote:

Anonymous wrote:DD is going to have to work her way through college. I am not going to be able to pay for it for her.

If she can get a job for $70K a year (the cost of tuition alone) without a degree, then why would she go to college?

Lol, she'll be lucky to get a job for minimum wage!

Anonymous wrote:

Anonymous wrote:DD is going to have to work her way through college. I am not going to be able to pay for it for her.

If she can get a job for $70K a year (the cost of tuition alone) without a degree, then why would she go to college?

that's why OP's set up is ridiculous. If instate is off the table and you don't have savings, your kid is SOL

Anonymous wrote:If no hooks are available? And for whatever reason, in state is off the table? (Please do not derail the thread with either of these points).

In-state is never off the table. If it is, you are doing it wrong.

Normal people look for schools that offer good financial aid, or if they don't qualify for FA, they look for schools that will award merit aid to their child. That means going down the rankings and checking your ego at the door.

That's it.

Pay as you go, choose schools you can afford, loans. Other that, hopes someone dies and leaves an insurance policy or a house to sell. We have a 10th grader, didn’t really save but sold a house earlier this year and put 150k into the college fund but I knew that money would be there at this point so that’s why I didn’t save much.

Anonymous wrote:DD is going to have to work her way through college. I am not going to be able to pay for it for her.

If she can get a job for $70K a year (the cost of tuition alone) without a degree, then why would she go to college?

DD is going to have to work her way through college. I am not going to be able to pay for it for her.

Anonymous wrote:Kid applies to safeties, which — because kid’s stats will be great comparatively — will offer various amounts of merit scholarships. Then compare and contrast.

You might think. That was part of our strategy. I will be interested to see if that winds up being true this year. I have seen people claim that schools are giving out smaller merit awards to more students, rather than larger awards to a smaller population.

Has anyone else seen that? As an example, Drexel, which was a safety for my kid, seems to have given out small merit awards, even for students with high GPAs and test scores.

by realizing that we had 18 years to save and starting early

We are "normal" (At least I think we are - 2 government - not lawyers). As soon as daycare stopped, we took the difference and put it into a 529. We also took any bonuses and added them in.

Clearly it is not a 1 for 1 - as we had before and aftercare costs as well as camps. But we started early and this has put us in position to have a significant amount saved. Any difference, between what we have saved and cost, we will pay from cash flow each month.

Kid applies to safeties, which — because kid’s stats will be great comparatively — will offer various amounts of merit scholarships. Then compare and contrast.

If no hooks are available? And for whatever reason, in state is off the table? (Please do not derail the thread with either of these points).