Anonymous
Post 07/07/2025 10:46     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:
Anonymous wrote:The put $ in a 529 from the moment their kid is born and then choose a public university or a college that is equivalent in price. As for us, we use 529 + bonuses.


This exactly. Lots of savings and realistic expectations given to children.


+1

Also, you expect your kid to get a job during breaks (and PT during the year possibly)
My kid can earn $10-15K/year working summers/breaks at basic jobs. Add in 10 hours/week PT during the year (something on campus) and they can contribute $10-15K yearly. In state is ~$30-35K, so now you only have $20K left. Take the ~$5K in federal loan and parents need to help with $15-20K at most. That's $80K needed in the 529 and/or partial cash flow each year. Not that difficult for a UMC family to achieve. In fact most kids don't need to work the full $15K to do it
Anonymous
Post 07/07/2025 10:45     Subject: How do most middle to UMC families pay for college?
Community college first two years. I have enough money in 529 to pay for that, but will probably just cash flow it. It was a mistake to put any money into 529, because my own investments did 10x in half the time. I never needed a tax deduction. I was a lower class who jumped into UMC skipping MC.
I can easily withdraw $80k a year from investment nearly tax free as HH. The older kid will do their own taxes and should get tuition credit and savers credit back as they are working and contributing to Roth. We will not touch 529 or they can't take the tuition credit.
529 is useless for us right now.
Anonymous
Post 07/07/2025 10:43     Subject: How do most middle to UMC families pay for college?
Combination of 529 and cash-flow, plus loans and 10 month payment plan each year allows us to make it sort-of work. We've eliminated some fun things we had planned (DC is at a private school with scholarship dollars, so not terrible, but in an expensive COL and more than the in-state tuition we thought we'd be paying) but have them rescheduled for after graduation. . Private school location makes more sense for her major.
Anonymous
Post 07/07/2025 10:43     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:The put $ in a 529 from the moment their kid is born and then choose a public university or a college that is equivalent in price. As for us, we use 529 + bonuses.


This exactly. Lots of savings and realistic expectations given to children.
Anonymous
Post 07/07/2025 10:43     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:How the hell are people going to afford med school?


Most med school students have doctor parents, it's sort of a family trade. It is very hard to become an MD from a LMC family. The truly exceptional ones get full ride at Cleveland or NYU, but still need around 40k-60k for postdoc or highly competitive residency matching. I guess they don't think we need a lot of MDs now, if people will die from Medicare and Medicaid cuts.


My niece has doctors as parents and her medical school loans total $500k.


That is a family choice. I know plenty of doctors and others in tech who fully pay for med/law school for their kids. They start by overfunding the 529 with intent that there will be grad school/professsional school at some point
Anonymous
Post 07/07/2025 10:41     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:
Anonymous wrote:We have a student loan debt crisis and you want more student loans? More student loans means more fund availability and hence more demand and higher tuition costs. We have students graduating college who cant find a job because the job market is oversaturated with college educated grads. We need to rethink our post secondary education system as it currently stands if anything.

Im probably one of the few on this board without a fully funded 529. Im going to resort to a combination of 529, cash flow, scholarships, parent plus loans, public in-state schools, and as a last resort student loans. I dont want my kids in massive debt starting their careers. I kinda hope a new more sustainable pathway opens up.


Colleges need to reduce tuition. It is absurd.


I have 3 good options in our state for "all in under $25-30K". And plenty of private schools where merit flows well. You pick one of those if finances matter to your family
Anonymous
Post 07/07/2025 10:39     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:The put $ in a 529 from the moment their kid is born and then choose a public university or a college that is equivalent in price. As for us, we use 529 + bonuses.


+1

You plan, and if smart, search for merit so your kid can attend for what you can afford with minimal loans.
It's not rocket science. Outside of about 40-50 schools, a good student can attend many many many schools for under $40K/year (plenty under $25-30k).
Anonymous
Post 07/07/2025 08:43     Subject: Re:How do most middle to UMC families pay for college?
Bought a MD prepaid plan when kids were young. Used the five year payment plan which was what we could afford then. For room and board we are cash flowing it. We no longer have a mortgage so it’s not a hardship.
Anonymous
Post 07/07/2025 07:54     Subject: How do most middle to UMC families pay for college?
In state flagship, OOS merit.
Anonymous
Post 07/07/2025 07:47     Subject: Re:How do most middle to UMC families pay for college?
I guess I’m middle class. Teacher, single parent, $93k per year. My kid and I lived in with my dad a few years ago so I could pay for college. That plus merit, grants, and a student loan is how I afford it. I only started saving when I moved in with my dad so only a few thousand in savings.
Anonymous
Post 07/07/2025 07:43     Subject: Re:How do most middle to UMC families pay for college?
I don’t know about most, but we started saving before we had children and continued saving until they went to college.
Anonymous
Post 07/07/2025 07:24     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:
Anonymous wrote:How the hell are people going to afford med school?


All those Indians will just need to sell off their homes and move into low income apts…


Dude. They mostly come from money. They're fine.
Anonymous
Post 07/07/2025 07:01     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:
Anonymous wrote:How the hell are people going to afford med school?


Most med school students have doctor parents, it's sort of a family trade. It is very hard to become an MD from a LMC family. The truly exceptional ones get full ride at Cleveland or NYU, but still need around 40k-60k for postdoc or highly competitive residency matching. I guess they don't think we need a lot of MDs now, if people will die from Medicare and Medicaid cuts.


Most families with med parents, the kids don’t follow. That’s what I have seen. It’s the middle class (and lower class) kids who pursuer it nowaydays. The kids with the med mom/dad are pursuing passion careers. These days, Med work is tougher option - hard to get there and stick with it.
Anonymous
Post 07/07/2025 06:57     Subject: How do most middle to UMC families pay for college?
Anonymous wrote:How the hell are people going to afford med school?


All those Indians will just need to sell off their homes and move into low income apts…
Anonymous
Post 07/07/2025 05:44     Subject: How do most middle to UMC families pay for college?
Start saving in 529 plan at birth. Use a low fee one with good options like Utah. Do as much as you can afford and don't stop. The balance will accumulate to a big number over time. 13 year old has $350k and I'm no longer contributing. Slow and steady does the trick.