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Salason
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Member since 6/05 9878 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
I fully intend to pay as much (ideally all) of it if I can but saving for it right now is not my highest priority. While we max out our 401ks, we put much less in the 529. I'm sure we will increase it as other costs (like childcare!) roll off...
Spending money at school is a different story because I agree with those who want their children to not be handed everything. If I pay the tuition and room & board, DC can get a job to pay their spending money while there. I never understood my friend's whose parents gave them their CC to spend as their heart desired.
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Posted 1/6/10 12:37 PM  |
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computergirl
LIF Adult
Member since 5/05 3118 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
I have no intention of fully funding my kids' education. I went to college on a full scholarship and then did a masters at night, and DH had loans and jobs to pay his way. We put a little away each month into their 529s, but I want them to take accountability for their education, and I think they will appreciate it more and be more self-reliant adults if they are at least somewhat responsible for it.
I'm also hoping to avoid the attitude of entitlement that you see so much of in adults our age. First people expect their parents to provide a free ride to college. Then they expect a lavish wedding on their parents' dime. Then they expect help with a house down payment. Then they have a baby and expect their parents to give up their freedom to provide free childcare. I'd rather see my children make their OWN way in the world like DH and me, and not constantly wait for us to rescue them from the realities of life.
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| Posted 1/6/10 12:39 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Spin off of struggling-paying for secondary education?
I am not of the mindset that I need to fully fund their education, if I can that is great....I will save what I can (I put away a small amount every other week into each of my kids plans - this is something that as a family, DH and I think is important so we do it)......the rest is on them, if they need to take out loans to cover the slack so be it
I think everyone should save their money as they see fit 
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| Posted 1/6/10 12:42 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Planning for a retirement is way more important that saving for thier education
They make loans for college, there are no loans for retirement
In a perfect world we would all get to retirement with more than we need and then be able to help
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| Posted 1/6/10 12:43 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Spin off of struggling-paying for secondary education?
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
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| Posted 1/6/10 12:44 PM |
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computergirl
LIF Adult
Member since 5/05 3118 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by pinkandblue
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
I don't think anyone would object to doing both. I think the whole argument against saving for college is when you're doing it at the EXPENSE of your retirement savings. If you're already doing a nice 401k contribution, there's nothing foolish about then contributing to college savings.
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| Posted 1/6/10 12:47 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Spin off of struggling-paying for secondary education?
I also wanted to add, I think parents and their kids...there is too much entitlement going on right now.
State/city college is set up for a reason. Before parents refinance their home because junior has dreams of going to school OOS or the private school he imagined himself in...someone needs to take a step back and look at the reality of the situation.
For an 18 year old to accept that he/she will be in enough debt to buy a home is wacky. 18! that's a crazy way to start a life.
We did get scholarships, not always to choice schools...but to FREE schools. Hunter, Utica, Temple, Boston U, UNC, and me at florida state schools. One sister would have loved Chicago, but it was only a partial scholarship. o well, temple it was.
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| Posted 1/6/10 12:47 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Spin off of struggling-paying for secondary education?
Posted by pinkandblue
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
I think it's the unknown factor. we have NO idea what is going to be around for us in the future (Social security, Medicare etc) so determing what is "enough" to save for retirement is really hard. especially since once you retire, you don't know how long you are going to live....if you live to 95, can your 401k earnings really tide you over for 30 years????
education is a different story. and like I said...it would be silly to take money that could be earning interest for US and put in an account for Luce, only to be living in his garage apt in 30 years.
I am sure at that point he'll probably wishing he had student loans to be rather than two crotchety tenants wondering who the blonde in the red car was that left at 4am  
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| Posted 1/6/10 12:48 PM |
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charon54
My two boys!
Member since 5/05 7279 total posts
Name:
Rebecca
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Re: Spin off of struggling-paying for secondary education?
I know too many people who have not completed college, because they needed to drop out to work more to be able to support themselves. The college experience is very important to me and I want to help DS in any way to be able to have that experience. We still save for our retirement, but at 6 weeks, my son has over $2000 saved for college.
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| Posted 1/6/10 12:48 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Spin off of struggling-paying for secondary education?
Posted by computergirl
Posted by pinkandblue
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
I don't think anyone would object to doing both. I think the whole argument against saving for college is when you're doing it at the EXPENSE of your retirement savings. If you're already doing a nice 401k contribution, there's nothing foolish about then contributing to college savings.
I guess that is what I was trying to say, I do not sacrafice one for another, I do both
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| Posted 1/6/10 12:48 PM |
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computergirl
LIF Adult
Member since 5/05 3118 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by Janice
I also wanted to add, I think parents and their kids...there is too much entitlement going on right now.
State/city college is set up for a reason. Before parents refinance their home because junior has dreams of going to school OOS or the private school he imagined himself in...someone needs to take a step back and look at the reality of the situation.
For an 18 year old to accept that he/she will be in enough debt to buy a home is wacky. 18! that's a crazy way to start a life.
We did get scholarships, not always to choice schools...but to FREE schools. Hunter, Utica, Temple, Boston U, UNC, and me at florida state schools. One sister would have loved Chicago, but it was only a partial scholarship. o well, temple it was.
Amen to this. When I was 18, I would have preferred to go to NYU. But I only got a partial scholarship there. St. John's U gave me a complete free ride... plus I had a few external scholarships to so that I'd just get a check from those for books, spending money, etc. I don't think I would have been so enamored with NYU once the loan payments began later! :)
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| Posted 1/6/10 12:55 PM |
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annoyedTTCer
LIF Adult
Member since 4/09 3272 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by pinkandblue
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
If you can do both that if great.
however I hope everyones retirement planning includes more than just maxing out the 401k each year - that probably won't be enough when the time comes
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| Posted 1/6/10 1:01 PM |
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munchkinbugs
My little loves!
Member since 1/06 8093 total posts
Name:
Lisa
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Re: Spin off of struggling-paying for secondary education?
I think if I can pay for most of my childrens education, I would like to. It will make it that much easier for them to enter the real world. I would like to do whatever I can for them.
DH did not pay for a dime of his education. I paid for about a third of mine. We were fortunate.
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| Posted 1/6/10 1:08 PM |
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munchkinbugs
My little loves!
Member since 1/06 8093 total posts
Name:
Lisa
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Re: Spin off of struggling-paying for secondary education?
Posted by Janice
I also wanted to add, I think parents and their kids...there is too much entitlement going on right now.
State/city college is set up for a reason. Before parents refinance their home because junior has dreams of going to school OOS or the private school he imagined himself in...someone needs to take a step back and look at the reality of the situation.
For an 18 year old to accept that he/she will be in enough debt to buy a home is wacky. 18! that's a crazy way to start a life.
We did get scholarships, not always to choice schools...but to FREE schools. Hunter, Utica, Temple, Boston U, UNC, and me at florida state schools. One sister would have loved Chicago, but it was only a partial scholarship. o well, temple it was.
Those are all pretty good schools. Not everyone can get a free ride to UNC or BU.
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| Posted 1/6/10 1:11 PM |
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Goldi0218
My miracles!
Member since 12/05 23902 total posts
Name:
Leslie
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Re: Spin off of struggling-paying for secondary education?
There are 4 undergraduate, 2 graduate and one JD amongst the 4 kids in my family. Not one of us has a loan. We were fortunate. My parents were able to do that for us. Then again, my father was a self-employed business owner, well invested and prioritized well. DH and I plan on saving whatever we can to get as close to being able to pay for college 100%. Odds are we won't come close for our kids.
DH had loans but paid them off a long time ago. It wasn't easy.
I am grateful and fortunate for what I was given. I make no apologies for wanting to give the same to my children. What saddens me is knowing I won't be able to do it.
Good thing Abby has long legs. My plan for her to be a pole dancer to work through college may just come to fruition despite the two 529s we have for her.
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| Posted 1/6/10 1:19 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Spin off of struggling-paying for secondary education?
Posted by babybug631
Posted by Janice
I also wanted to add, I think parents and their kids...there is too much entitlement going on right now.
State/city college is set up for a reason. Before parents refinance their home because junior has dreams of going to school OOS or the private school he imagined himself in...someone needs to take a step back and look at the reality of the situation.
For an 18 year old to accept that he/she will be in enough debt to buy a home is wacky. 18! that's a crazy way to start a life.
We did get scholarships, not always to choice schools...but to FREE schools. Hunter, Utica, Temple, Boston U, UNC, and me at florida state schools. One sister would have loved Chicago, but it was only a partial scholarship. o well, temple it was.
Those are all pretty good schools. Not everyone can get a free ride to UNC or BU.
very true...which is why the rest went to state/city. you do what you can.
I enlisted then my scholarship came through and got the hell out of that mess.
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| Posted 1/6/10 1:31 PM |
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KateDevine
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Member since 6/06 24950 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by computergirl
Posted by pinkandblue
Posted by annoyedTTCer
Planning for a retirement is way more important that saving for thier education
I do not disagree with this but why not do both if you can?....sure we are not rolling in dough but I fund my 401k and I also take a SMALL amount and put that into their accounts...any monetary gifts they get also go into the 529....
I don't think anyone would object to doing both. I think the whole argument against saving for college is when you're doing it at the EXPENSE of your retirement savings. If you're already doing a nice 401k contribution, there's nothing foolish about then contributing to college savings.
Exactly. Of course there is nothing wrong with saving for college, I was talking about choosing saving for college v. saving for your retirement.
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| Posted 1/6/10 1:33 PM |
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KateDevine
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Member since 6/06 24950 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by Janice
Posted by babybug631
Posted by Janice
I also wanted to add, I think parents and their kids...there is too much entitlement going on right now.
State/city college is set up for a reason. Before parents refinance their home because junior has dreams of going to school OOS or the private school he imagined himself in...someone needs to take a step back and look at the reality of the situation.
For an 18 year old to accept that he/she will be in enough debt to buy a home is wacky. 18! that's a crazy way to start a life.
We did get scholarships, not always to choice schools...but to FREE schools. Hunter, Utica, Temple, Boston U, UNC, and me at florida state schools. One sister would have loved Chicago, but it was only a partial scholarship. o well, temple it was.
Those are all pretty good schools. Not everyone can get a free ride to UNC or BU.
very true...which is why the rest went to state/city. you do what you can.
I enlisted then my scholarship came through and got the hell out of that mess.
Chris did too.
And if your parent works at Duke (and I'm sure other schools too) you go for free
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| Posted 1/6/10 1:34 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: Spin off of struggling-paying for secondary education?
Posted by KateDevine
I was talking about choosing saving for college v. saving for your retirement.
I never heard anyone do this, have you?
That is nuts
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| Posted 1/6/10 1:35 PM |
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KateDevine
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Member since 6/06 24950 total posts
Name:
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Re: Spin off of struggling-paying for secondary education?
Posted by pinkandblue
Posted by KateDevine
I was talking about choosing saving for college v. saving for your retirement.
I never heard anyone do this, have you?
That is nuts
Yeah. In hopes that then their child will help them once they are out of college and successful
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| Posted 1/6/10 1:37 PM |
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Tine73
Member since 3/06 22093 total posts
Name:
*********
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Re: Spin off of struggling-paying for secondary education?
Posted by eddiesmommy
I would just rather my child not have any debt at all if I can help it.
I agree - it's our goal. Both of our parents paid for our undergrad and we hope to to the same for our children. But it's not the end of the world if we can't.
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| Posted 1/6/10 1:39 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: Spin off of struggling-paying for secondary education?
Posted by KateDevine
Chris did too.
And if your parent works at Duke (and I'm sure other schools too) you go for free
that's why josh rocks a duke hat and not unc leo's going to be rocking a hairnet in 15 years.
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| Posted 1/6/10 1:46 PM |
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Mkr09
.....
Member since 5/05 7550 total posts
Name:
M
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Re: Spin off of struggling-paying for secondary education?
Saving for college isn't a priority for us either. My Ils give us a $50 check every month or so and we put that in a 529. I also transfer a small amount of money every month (like $20) into it. Over the years I'm hoping to increase it, but if I don't then I don't. I have student loans, DH has student loans and we are paying them off. My parents had 4 kids and DH's parents just didn't have the money to help him with college and we make due. Our kids will make due as well when the time comes.
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| Posted 1/6/10 1:50 PM |
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Re: Spin off of struggling-paying for secondary education?
My DD has a 529. We put a little in it each month- I don't even remember how much when I set it up. 
However, we are also lucky in that my DH is a professor- but I don't want DD to be forced to attend that school. DH also thinks about leaving academia- and I would hate for him to stay just for DD to be able to get a free ride at a school that she may not want to attend, or does not have what she wants.
So the bottom line for us is that we'll save what we can and figure out the rest when the time comes- and it's funny (not ha-ha) that people are arguing about retirement vs. education because I have known for a long time that I will probably using my retirement $$ for DD's education. Being an older mom has its advantages- I will have enough service time to retire before she gets out of high school.
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| Posted 1/6/10 2:05 PM |
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Dani922
Here's to new beginnings
Member since 10/07 7260 total posts
Name:
Danielle
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Re: Spin off of struggling-paying for secondary education?
I'm still in college. I have to pay for my education first. When I'm done, if we can, I'd like to start saving for the kids. We'll do what we can to help, but I'm rather sure they will need loans & financial aid when the time comes.
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| Posted 1/6/10 2:14 PM |
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