Anonymous wrote:

Anonymous wrote:I would never give up our vacations to save for college. Last summer my 6 yo daughter was taught how to skin rabbits and foxes, set snares, and handle guns responsibly up on geemaw's farm. they don't teach you that in any college, and its going to be a heck of a lot more use than any book learning.

Sounds awesome.

Anonymous wrote:I would never give up our vacations to save for college. Last summer my 6 yo daughter was taught how to skin rabbits and foxes, set snares, and handle guns responsibly up on geemaw's farm. they don't teach you that in any college, and its going to be a heck of a lot more use than any book learning.

Anonymous wrote:

Anonymous wrote:Anyone else think its sad that people are sacrificing vacations altogether or enjoying their money for 18 years to afford college? That says the price of tuition is unrealistic and too high. If we were discussing mortgages, we'd call this being "house poor" or buying more than you can afford.

I contribute $1K a year currently, and will increase to $4K next year. 50K a year is absurd for tuition and fees. I remember being so happy when I got accepted into my dream school. That is, until I saw that I was $18K out of pocket per year. I opted instead to go in-state public and today, in my late 20s, I'm SO glad I did. And still ended up with a great job that my peers envy.

Are you ok with shelling out 200K for college for a child who ends up being a teacher making 50K with a masters? Or how about a daughter who works for 5 years and then becomes a SAHM? Wouldnt the local college have done the same? Does saving for college come with strings attached?

College is not vocational training. It's about broadening my childrens' horizons. I'd much rather they go to an expensive college that's great for them and their development than for me to have vacations or other material things. Parenting is sacrifice. My parents went without plenty to send me to college, I'm paying it forward.

Anonymous wrote:We're actually going to talk with a financial planner next month about how much and how we should save for college. We barely have any saved now and fear if we save "too much" but not to cover the whole nut our children will not qualify for aid/student loans.

Anonymous wrote:I would never give up our vacations to save for college. Last summer my 6 yo daughter was taught how to skin rabbits and foxes, set snares, and handle guns responsibly up on geemaw's farm. they don't teach you that in any college, and its going to be a heck of a lot more use than any book learning.

Anonymous wrote:Anyone else think its sad that people are sacrificing vacations altogether or enjoying their money for 18 years to afford college? That says the price of tuition is unrealistic and too high. If we were discussing mortgages, we'd call this being "house poor" or buying more than you can afford.

I contribute $1K a year currently, and will increase to $4K next year. 50K a year is absurd for tuition and fees. I remember being so happy when I got accepted into my dream school. That is, until I saw that I was $18K out of pocket per year. I opted instead to go in-state public and today, in my late 20s, I'm SO glad I did. And still ended up with a great job that my peers envy.

Are you ok with shelling out 200K for college for a child who ends up being a teacher making 50K with a masters? Or how about a daughter who works for 5 years and then becomes a SAHM? Wouldnt the local college have done the same? Does saving for college come with strings attached?

Anonymous wrote:

Anonymous wrote:We're actually going to talk with a financial planner next month about how much and how we should save for college. We barely have any saved now and fear if we save "too much" but not to cover the whole nut our children will not qualify for aid/student loans.

Read up on it- the percentage of savings factored into aid is low, but the percentage of income is high. Based on current calculations, your fears are unfounded.

Anonymous wrote:We're actually going to talk with a financial planner next month about how much and how we should save for college. We barely have any saved now and fear if we save "too much" but not to cover the whole nut our children will not qualify for aid/student loans.

Anonymous wrote:

Anonymous wrote:New poster here... HHI is $135k and while child is in daycare we contribute about $100/month. Here's the thing- both DH and I went to private and public universities in VA (private for both of us for undergrad, public for grad). It's all about how you guide your child. Neither of my parents went to college and didn't know the first thing about scholarships, legacy applications, etc. Now that I have been through the gauntlet myself I know better than to let my child have to pay the full "tuition" amount. While we plan to contribute in larger amounts, I do feel my child(ren) needs some "skin in the game"... they need to (with guidance) apply for scholarships (more than 20) and put forth a full effort to understand the financial ramifications of their choices after graduating. I won't allow them to take out loans- but they will contribute whether by earning scholarships or a part time job, etc. Just handing over a 529, bank account, or prepaid tuition and saying "have fun" to an 18 yr old is ridiculous.

First, this post is positively schizophrenic - "My kids must be adults and take financial responsibility for college . . but I won't allow them to take out loans." So are you forcing them to be responsible adults, or are you helicoptering over them, vetoing the very financial decisions you want to force them to make? Because this sounds a lot like "be an adult and take responsibility for your education . . . as long as you do what I want you to do."

Second, and I've said this before in a different context, if the only way you can get your kids to understand the importance of college and the implications, financial and otherwise, of their decisions is to make them pay for a portion of college, you have failed as a parent long before the tuition bill comes.