Anonymous wrote:OMG, I looked at the Vanguard cost calculator and it's a little shocking, it says to pay full in state tuition, room, and board for two kids we need to be saving almost $900 more a month. We have about $1000-1500 disposable income per month (for stuff like clothes, kid activities and entertainment, school supplies, home repairs and goods, donations, etc), there's no way we could eliminate all but $100 of that. I don't think we're massively overspending on an HHI of $150k, we're saving 1/3 of it for retirement and take home less than 50%, it's just a lot of money! At least we know we can cash flow part of it since we're paying for day care now, but i am not sure we can do 100%, especially if my kids aren't interested in state schools.

Anonymous wrote:

Anonymous wrote:Poster was trying to be cleaver and hide the money for financial aid. The entire situation makes zero sense to hand over money for them to get minimal tax savings to save for the kids. Your kids come first. Very greedy to expect financial aid when you can afford to pay.

Yup and the poster got indignant when called out in her failed greedy attempts. I love that she was the one who got screwed in the end.

I don't even understand this. Why didn't she just open additional accounts for each child and fund that with $4K per year. The deduction is per account, not per child.

PP here. Obviously my primary objective wasn't to maximize savings for my kids using only my own resources. As noted, I could have easliy opened multiple accounts per child and gotten my own, additional VA tax breaks. My objective was to empower my parents to engage as caring and involved grandparents...for the sake of my children, for them to grow up with fond memories of and a positive relationship with their grandparents. DH's parents passed away many years ago.

Unfortunately, I basically need to pay or give something to my parents for them to express any sort of care or concern for their only grandchildren. It has been this way for 17 years. For instance, they joined us on vacation 3-4 times over the years but ONLY when we paid their way AND we ensured they had the nicest first class seats, the biggest of the hotel rooms or suites, and recognition in front of their friends and neighbors as the ones sponsoring the trips, even though they never did. This was normal – mandated by them as an appropriate sign of respect to one's parents and elders – and so was giving them $$$ every year so they could turn around one day and help pay for their grandchildren's college expenses, like all good grandparents should want to do. Just didn't think they would liquidate it all and leave their grandkids in a lurch.

Anonymous wrote:OMG, I looked at the Vanguard cost calculator and it's a little shocking, it says to pay full in state tuition, room, and board for two kids we need to be saving almost $900 more a month. We have about $1000-1500 disposable income per month (for stuff like clothes, kid activities and entertainment, school supplies, home repairs and goods, donations, etc), there's no way we could eliminate all but $100 of that. I don't think we're massively overspending on an HHI of $150k, we're saving 1/3 of it for retirement and take home less than 50%, it's just a lot of money! At least we know we can cash flow part of it since we're paying for day care now, but i am not sure we can do 100%, especially if my kids aren't interested in state schools.