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LulaBell
:)
Member since 1/06 3508 total posts
Name:
J
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Do you plan to pay for your child(ren)'s college education
I hope to pay for undergrad for my two DDs, but it depends on the cost and where they want to go. My home will be paid off by then so I think it will be feasible, but I will not be paying $75k a year for a private school just because. I also don't think my economic contribution implies that they won't work hard or appreciate the value of money. I intend for my children to work as I did and to understand there are no freebies in life. However, if I can assist with college - as my parents along with scholarships did for me - I most certainly will. I have enough faith in my parenting ability and the values I'm installing in my children to believe that they won't good off just because its on mom and dads dime.
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Posted 5/2/15 8:37 PM  |
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EandF
LIF Adult
Member since 11/11 1674 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Ideally, yes but we'll see what finances are when the time comes. I just can't imagine the cost of college in 16 years! I'd rather pay for grad school if they intend to go than college. I feel like that will incentivize them to do well and not slack off or party too hard.
I also think my parents may help out when the time comes but that's not a given or expected.
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| Posted 5/2/15 9:48 PM |
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsA1012
Posted by evrythng4areason
Nope. And it's not necessarily a matter of finances, bc our home will be paid off before she enters college.
There's something to be said for doing things on your own. I paid for my own cars, car insurance, cell phone, college, spending money, everything. I probably won't take it to the extent my parents did, but I don't view things like college to be a parents responsibility.
How can a student pay for his or her own college unless it is a community college? If, say Hofstra is 56,000 per year even if you worked 30 hours at minimum wage you could barely make a dent. Even at a Suny you would only be able to pay for a little bit. Plus, it would likely affect your grades and rule out certain career paths. For instance, if you want to do something highly competitive like a pre-med track working that many hours per week would make elite academic achievement much more difficult. The more loans you have to take the more limited your options are later in regards to buying a house and getting a decent start in life. If the money is there, I don't understand why a parent wouldn't do what they can to help. If you can't afford it that's a different story.
Because not everyone has the financial capability to pay for their child, and not every parent thinks that they need to pay for their child to go to college.
I went to college. I got a scholarship. I took more than a full course load every semester, and was in my (private) schools honors college. I worked full time on top of that, using a skill I had practiced since I was 8, and made quite a bit more than minimum wage. While my parents provided me with a place to live, that's about all I had-and that only came with the price of chores and babysitting my sister on top of being a full time student and full time employee.
DH went to school and took out loans to cover what his scholarship didn't. He also worked, even though he was an athlete. He also graduated with honors, and while his sports career didn't work out due to an injury, he is currently employed at a Fortune 500 company.
It can be done. We were still able to buy a home, get married, and have a baby, despite not having help with college. If we can do it, so can our child(ren).
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| Posted 5/2/15 10:07 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Re: Do you plan to pay for your child(ren)'s college education
Posted by gina409
Posted by DiamondGirl
Posted by EatingMyVeggies
I don't think most people (especially kids) appreciate things when it's handed to them anyway. When it's your own money on the line, you tend to show up to class and work harder. Generally speaking, of course.
Generally speaking I suppose so but I also think that it is important to make your children know the sacrifice you are making.
My parents were both hardworking people, both grew up poor and neither was handed anything. Through their handwork and success they were in a financial position to pay for our college tuition.
I took college seriously. My father worked his ass off to send me there and I made him proud.
So I think it's also how you raise your kids. I didn't "need" a job as a teen but since I was 14 I had one bc my parents believe in handwork and knowing the value of a dollar even though technically speaking they could have handed me whatever I wanted.
I guess my point is not all kids who grow up privileged don't respect money.
This
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| Posted 5/2/15 10:34 PM |
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MrsG823
Just call me Mommy.
Member since 1/11 5570 total posts
Name:
S
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsA1012
Posted by Hofstra26
Posted by MrsA1012
Posted by Mrs213
Posted by ElizaRags35
Posted by afternoondelight828
What are the prices of Suny schools? I ask as I havent checked them out but going to college fairs, I thought they were in the $20's also.
Just under 20k if you need room & board. A little over 11k if commuting or living off campus.
I think this is the average. It may depend on the school.
Is this for one semester?
Suny is currently 19,602 per year for tuition and room and board. They also list an additional $3000 ish for books, transportation and personal expenses. If you commute it is about $7500 per year before indirect expenses.
That's it for SUNY??!! That's nothing. I commuted to SUNY Stony Brook, graduated way back in 1997 and honestly, my tuition was only a few grand less than what you're saying it is now. I think that's pretty good considering I graduated almost 20yrs ago. We should be just fine affording our kids college if they stick to a SUNY school. Thank God for the SUNY system.
ETA - I just looked up SUNY SB.........as a commuter, it's only $6470/yr . That awesome for a quality SUNY school. Defintely not what I would consider outrageous for a college education.
Yup, definitely a good deal. One of the few left.
It is a good deal but admission to Stonybrook is becoming highly competitive. The high cost of private schools is making the SUNY schools harder and harder to get into-more applications from very competitive candidates makes the odds of admission lower than in the past.
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| Posted 5/2/15 10:46 PM |
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StarsStripes
LIF Adult
Member since 12/12 1192 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by LulaBell
I hope to pay for undergrad for my two DDs, but it depends on the cost and where they want to go. My home will be paid off by then so I think it will be feasible, but I will not be paying $75k a year for a private school just because. I also don't think my economic contribution implies that they won't work hard or appreciate the value of money. I intend for my children to work as I did and to understand there are no freebies in life. However, if I can assist with college - as my parents along with scholarships did for me - I most certainly will. I have enough faith in my parenting ability and the values I'm installing in my children to believe that they won't good off just because its on mom and dads dime.
Well said, same for me, word for word.
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| Posted 5/2/15 11:00 PM |
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sunnygirl
loving life
Member since 1/07 5413 total posts
Name:
D
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Re: Do you plan to pay for your child(ren)'s college education
I said I would help them pay for college, but really it depends where they go, if the money we have set aside by that time can cover all of it then we will pay for it, but if they choose to go somewhere super expensive and we can't cover it then they will take out loans,
I think its important for kids to take ownership and really see how expensive it is and that they need to work hard and get good grades not party 4 yrs away. if they have to pay some of it they might be inclined to work a little harder, kids are handed so much today they need to learn not everything gets handed to them
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| Posted 5/3/15 12:08 AM |
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Re: Do you plan to pay for your child(ren)'s college education
Message edited 7/20/2015 7:42:32 AM.
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| Posted 5/3/15 7:05 AM |
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Millie3
LIF Adult
Member since 7/13 1280 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsG823
Posted by MrsA1012
Posted by Hofstra26
Posted by MrsA1012
Posted by Mrs213
Posted by ElizaRags35
Posted by afternoondelight828
What are the prices of Suny schools? I ask as I havent checked them out but going to college fairs, I thought they were in the $20's also.
Just under 20k if you need room & board. A little over 11k if commuting or living off campus.
I think this is the average. It may depend on the school.
Is this for one semester?
Suny is currently 19,602 per year for tuition and room and board. They also list an additional $3000 ish for books, transportation and personal expenses. If you commute it is about $7500 per year before indirect expenses.
That's it for SUNY??!! That's nothing. I commuted to SUNY Stony Brook, graduated way back in 1997 and honestly, my tuition was only a few grand less than what you're saying it is now. I think that's pretty good considering I graduated almost 20yrs ago. We should be just fine affording our kids college if they stick to a SUNY school. Thank God for the SUNY system.
ETA - I just looked up SUNY SB.........as a commuter, it's only $6470/yr . That awesome for a quality SUNY school. Defintely not what I would consider outrageous for a college education.
Yup, definitely a good deal. One of the few left.
It is a good deal but admission to Stonybrook is becoming highly competitive. The high cost of private schools is making the SUNY schools harder and harder to get into-more applications from very competitive candidates makes the odds of admission lower than in the past.
This is true, it's difficult to get into Stony Brook now, because of the amount of kids are applying. I know 2 very smart well rounded kids in my neighborhood that did not get in. Now they are going to very expensive private schools, and need loans. Going to become like the California state schools, impossible to get in.
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| Posted 5/3/15 10:05 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Do you plan to pay for your child(ren)'s college education
We invest monthly in to 529 plan in hopes to pay for undergrad education for both girls. I will encourage them to help if possible like I did being an RA with free room and graduating a semester early.
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| Posted 5/3/15 10:05 AM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: Do you plan to pay for your child(ren)'s college education
I will pay for what I can... I was lucky enough to come out of college debt free and will do my best to provide the same for my child.
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| Posted 5/3/15 11:37 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by Millie3
Posted by MrsG823
Posted by MrsA1012
Posted by Hofstra26
Posted by MrsA1012
Posted by Mrs213
Posted by ElizaRags35
Posted by afternoondelight828
What are the prices of Suny schools? I ask as I havent checked them out but going to college fairs, I thought they were in the $20's also.
Just under 20k if you need room & board. A little over 11k if commuting or living off campus.
I think this is the average. It may depend on the school.
Is this for one semester?
Suny is currently 19,602 per year for tuition and room and board. They also list an additional $3000 ish for books, transportation and personal expenses. If you commute it is about $7500 per year before indirect expenses.
That's it for SUNY??!! That's nothing. I commuted to SUNY Stony Brook, graduated way back in 1997 and honestly, my tuition was only a few grand less than what you're saying it is now. I think that's pretty good considering I graduated almost 20yrs ago. We should be just fine affording our kids college if they stick to a SUNY school. Thank God for the SUNY system.
ETA - I just looked up SUNY SB.........as a commuter, it's only $6470/yr . That awesome for a quality SUNY school. Defintely not what I would consider outrageous for a college education.
Yup, definitely a good deal. One of the few left.
It is a good deal but admission to Stonybrook is becoming highly competitive. The high cost of private schools is making the SUNY schools harder and harder to get into-more applications from very competitive candidates makes the odds of admission lower than in the past.
This is true, it's difficult to get into Stony Brook now, because of the amount of kids are applying. I know 2 very smart well rounded kids in my neighborhood that did not get in. Now they are going to very expensive private schools, and need loans. Going to become like the California state schools, impossible to get in.
There are plenty SUNY schools, hopefully my kids get into at least one of them because I don't believe in spending over $200K for an undergraduate education.
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| Posted 5/3/15 11:45 AM |
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whoababy11
it's only forever
Member since 11/10 1598 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
my parents told me CUNY/SUNY they could pay for entirely, and that if i wanted to go to a private school i had to take out a loan to cover the balance. i paid for grad school myself. my DH and intend to pay for our DDs to go to college, public or private if we can.
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| Posted 5/3/15 11:46 AM |
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IVFmiracle
Complete
Member since 12/12 4088 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsA1012
Also, when I was inquiring about life insurance and how much to get I was told that in 18 years state school will be 200,000 and a private university will be 500,000
This is probably based on the way school prices have been rising.
Turthfully, tuition has increased bc student loans can be obtained by anyone in practically any amount. It's guaranteed money from the government, meaning schools will always get paid back even if students don't pay their loans to the banks.
What is projected to happen is what happened to the housing market in 2008. People aren't going to be able to pay back their loans so federal student aid are going to likely be capped. This will result in lower enrollment and colleges are going to go bankrupt or be forced to reduce tuition.
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| Posted 5/3/15 6:25 PM |
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mnmsoinlove
Mommy to 2 sweet girls!
Member since 3/09 8585 total posts
Name:
Melissa
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Re: Do you plan to pay for your child(ren)'s college education
Its our goal and we will do what we can. My parents helped as much as they could and I took out loans for the rest. I went to a private school so it was expensive. DH paid for his entire education himself.
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| Posted 5/3/15 8:25 PM |
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teachermom
LIF Adolescent
Member since 8/11 843 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Yes. I was given zero financial and emotional support from my family when I choose to attend college. Partially because they didn't know any better, partially because they didn't have the financial resources. I had to work so incredibly hard and I was on my own from 18. I do not want that for my daughter. She will be expected to have a job during summers in HS and college and save. However, college is on us. I make no guarantees for grad school though, that's a long way away.
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| Posted 5/3/15 9:00 PM |
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MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsG823
Posted by MrsA1012
Posted by Hofstra26
Posted by MrsA1012
Posted by Mrs213
Posted by ElizaRags35
Posted by afternoondelight828
What are the prices of Suny schools? I ask as I havent checked them out but going to college fairs, I thought they were in the $20's also.
Just under 20k if you need room & board. A little over 11k if commuting or living off campus.
I think this is the average. It may depend on the school.
Is this for one semester?
Suny is currently 19,602 per year for tuition and room and board. They also list an additional $3000 ish for books, transportation and personal expenses. If you commute it is about $7500 per year before indirect expenses.
That's it for SUNY??!! That's nothing. I commuted to SUNY Stony Brook, graduated way back in 1997 and honestly, my tuition was only a few grand less than what you're saying it is now. I think that's pretty good considering I graduated almost 20yrs ago. We should be just fine affording our kids college if they stick to a SUNY school. Thank God for the SUNY system.
ETA - I just looked up SUNY SB.........as a commuter, it's only $6470/yr . That awesome for a quality SUNY school. Defintely not what I would consider outrageous for a college education.
Yup, definitely a good deal. One of the few left.
It is a good deal but admission to Stonybrook is becoming highly competitive. The high cost of private schools is making the SUNY schools harder and harder to get into-more applications from very competitive candidates makes the odds of admission lower than in the past.
Very true. I had many students not get into suny schools bc the competition is so intense. The suny I went to is crazy competitive these days but gave me an amazing education.
We will help our dc as best we reasonably can. It will depend on what we manage to save, what school they choose, whether we have another child, etc.
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| Posted 5/3/15 9:00 PM |
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Re: Do you plan to pay for your child(ren)'s college education
Posted by PitterPatter11
Right now, we plan to pay for tuition at a state school. If they choose a more expensive school, they will need to take out loans.
This.
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| Posted 5/3/15 9:21 PM |
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BlessedMomma
LIF Adult
Member since 12/11 6163 total posts
Name:
Momma Bear
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Do you plan to pay for your child(ren)'s college education
All. We have a college fund set up. I want my daughter to be debt free when she gets out of college.
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| Posted 5/4/15 8:01 AM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by EatingMyVeggies
Nope
I have savings for each but it won't cover college expenses in total by the time they need it.
Also, I'm not taking on that debt. They can get scholarships/work.
I will help where I can but no - I have no plans to take on debt at that time.
And that's what financial experts advise anyway.
I don't think most people (especially kids) appreciate things when it's handed to them anyway. When it's your own money on the line, you tend to show up to class and work harder. Generally speaking, of course.
Exactly this. The savings we currently have for them will definitely not cover college expenses by the time they need it. They can work for it like DH and I did. We are still paying off DH's student loans. I will help if I can but most of it will be on them.
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| Posted 5/4/15 8:47 AM |
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ali120206
2 Boys
Member since 7/06 17795 total posts
Name:
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Do you plan to pay for your child(ren)'s college education
We will try to help as much as possible. That was what our parents did. Both DH and i had about $30k in loans to pay back in the end.
I wouldn't rule out private schools though - some schools give grants and endowments which make the final out of pocket cost in line with less expensive schools (I went to a private school out of state and it cost less overall than it would have for me to attend a SUNY and live on campus).
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| Posted 5/4/15 8:49 AM |
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summertime
LIF Adolescent
Member since 9/10 852 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
I am saving but it won't cover all that will be needed. My house will be paid off shortly before my 1st goes to college. So I will am planning on using the mortgage cash to supplement. That being said at the moment our number 1 priority is saving for retirement. We max out our 401ks, etc... we will do what we can but most definitely not going to go into debt or put off retirement to cover the costs.
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| Posted 5/4/15 10:34 AM |
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summertime
LIF Adolescent
Member since 9/10 852 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by MrsA1012
Also, when I was inquiring about life insurance and how much to get I was told that in 18 years state school will be 200,000 and a private university will be 500,000
If this turns out to be the case college will be for the rich as this will be so far out of reach for most middle class families. sad.
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| Posted 5/4/15 10:37 AM |
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HomeIsWithU
Baby #2 on the way!
Member since 9/07 7816 total posts
Name:
Jenn
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Re: Do you plan to pay for your child(ren)'s college education
My plan was to save now and try to pay for as much of their college as I can. Whatever we cannot cover, they will have to take out student loans for. That's how my parents did it and that's my plan as well.
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| Posted 5/4/15 10:41 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Do you plan to pay for your child(ren)'s college education
Posted by summertime
Posted by MrsA1012
Also, when I was inquiring about life insurance and how much to get I was told that in 18 years state school will be 200,000 and a private university will be 500,000
If this turns out to be the case college will be for the rich as this will be so far out of reach for most middle class families. sad.
I went to SUNY SB. The current tuition is maybe $2500-3000 more than it was when I attened almost 20 yrs ago. Currently, it's $6500/yr if you commute. There is NO way the tuition will rise to $50K/yr in the next 18 yrs when in the past 18 hrs it went up less than $3K. I think the above numbers are grossly overinflated.
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| Posted 5/4/15 10:48 AM |
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