It's a bit confounding why any parent who could afford to help their children prepare for an independent and successful future would think twice or would consider it "paying it forward". If a child is working hard and being responsible, then why not help out as much as you possibly can. Children usually learn by example....."Example set example follow".

Anonymous wrote:

Anonymous wrote:...do you feel financially obligated to "pay it forward" and do so for your children?

This is one of the reasons my husband and I are both working and both saving for college. I'm curious to know if others feel this way.

LOL!

No.

I mean, it would be nice, obviously, but the cost of college is OUTRAGEOUS today compared to what it was when my parents saved for it for us. If the costs of college had stayed even remotely close to in line with standard inflation, I might feel more of an obligation but given the bubble we're in right now with college costs? It's not even really an option.

So your answer is that your parents paid for you but the cost is so high now that your kids will just be out of luck? It's harder for them than it would have been for you but, oh well? This just sounds like a somewhat cavalier attitude re your children's education.

Anonymous wrote:...do you feel financially obligated to "pay it forward" and do so for your children?

This is one of the reasons my husband and I are both working and both saving for college. I'm curious to know if others feel this way.

LOL!

No.

I mean, it would be nice, obviously, but the cost of college is OUTRAGEOUS today compared to what it was when my parents saved for it for us. If the costs of college had stayed even remotely close to in line with standard inflation, I might feel more of an obligation but given the bubble we're in right now with college costs? It's not even really an option.

Every family has different values and financial ability. Some families place a very high premium on educational attainment. Others not so much. Some can easily cover the costs of private college tuition and even med or law school without breaking a sweat, while the vast majority of parents struggle with public college costs. Some are simply reproducing their upper middle class status while others are just trying to help their kid stay in the middle class.

However, you would not be doing you or your children any favors by going deeply in debt to pay for college. Parents aren't eligible for income-based repayment plans and there is often no way to discharge the debt in bankruptcy. So if you suddenly got sick, injured, or fired, what would happen? Would having parents in financial crisis help them get started after college? Would they have to support you in retirement if you used your nest egg for their college bills?

The good news is that almost all parents underestimate how much financial aid their children are eligible for. Make sure you run the numbers for the schools your child wants to attend and research your actual costs. In many cases, the schools with the highest "list prices" may end up being cheaper after financial aid is considered.

I don't have children yet but if I ever do I would do my best to pay for a 4 yr college like mine did for me. I would want to give my kids the brightest future I could,

I don't see it as 'moral obligation" but would like to pay most of the cost for my kids to attend a state university. That's what my parents did for me (a school a few hours drive from home) and DH (had to live at home). I will also expect my kids to contribute to the cost via summer jobs and, if it doesn't interfere with academics, via PT jobs while at school.

I'd like to, and hopefully DH and I will be able to do it. However if we can't despite our best efforts then it is what it is.

Yes, absolutely.

Anonymous wrote:I would say I was raised to take care of my child's education.

I agree with this. I do think, as much as it is possible, that it should be a parent's responsibility to fund undergrad at a public university. My opinion is that people who don't try their hardest to do this don't really value education.

I see it as my obligation to do more for the future generation. DH and I went to state schools and paid for it ourselves. We also paid for graduate degrees ourselves. We plan to pay for our kids through graduate school.

Seeing the difference between the low-paying jobs I was able to take early on that helped move my career forward and the assets I have accumulated compared to my friends with loans, yes I would do everything I could to pay for my kid's college education.

Anonymous wrote:...do you feel financially obligated to "pay it forward" and do so for your children?

This is one of the reasons my husband and I are both working and both saving for college. I'm curious to know if others feel this way.

Yeah, I do. I had a job and loans and scholarships , but my parents contributed the remainder. My job was to get in, do well, and launch. Same deal for mine.

They did, and I certainly do. But I won't be paying for grad school.

Anonymous wrote:Not an obligation, but I see what a massive advantage it was for me in starting out my life and want the same for my kids. My parents paid for bare, bare bones and I worked part time to supplement, and I think that was perfect. (Research shows kids that work part-time in college actually perform better.)

I don't feel a moral obligation, just a desire.

+1

I do feel that it is my moral obligation.

Anonymous wrote:They said they'd only pay if I lived at home and went to UMD and that's what I did. I received an amazing education there and have enjoyed a successful career in my field. When my kids go to college, that will also be the deal. And if they don't get in, they can go to CC for two years and then they have to be accepted.

Admissions to UMD Is not guaranteed after CC.