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bella321
Blessed!
Member since 3/09 1952 total posts
Name:
Kristy
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How are you saving for college?
Is everyone already thinking about DC college education?
I guess I have too much free time! Anyway, how is everyone saving/investing for the future education?
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Posted 4/16/10 5:07 PM  |
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katiec618
LIF Infant
Member since 1/10 252 total posts
Name:
Katie
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Re: How are you saving for college?
We opened a 100k whole life policy on DC, which has an amazing cash rate that doesn't effect the death benefit. We did a custom policy, so that we are only paying on for 18 years.
We plan on doing this for any other future DC's, too!
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| Posted 4/16/10 6:29 PM |
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mamasita27
OHANA
Member since 8/07 5974 total posts
Name:
MB
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Re: How are you saving for college?
we have a 529 (i think that's what it's called) for DD.
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| Posted 4/16/10 7:38 PM |
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IVFGIRL
LIF Infant
Member since 1/09 139 total posts
Name:
Eva
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Re: How are you saving for college?
NYS 529K, I put $100 aside for each child each month. It is NYS tax free, so I save on my taxes too!
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| Posted 4/16/10 8:05 PM |
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MrsGmomof3
...
Member since 6/08 3290 total posts
Name:
Irrelevant
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Re: How are you saving for college?
Each of our children has had a 529 account since birth.
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| Posted 4/17/10 11:19 AM |
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Goldi0218
My miracles!
Member since 12/05 23902 total posts
Name:
Leslie
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Re: How are you saving for college?
We have more than one 529. We also have our back up plan - pole dancing classes.
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| Posted 4/17/10 11:24 AM |
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Mkr09
.....
Member since 5/05 7550 total posts
Name:
M
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Re: How are you saving for college?
We have a 529 account set up for Kaydyn and my ILs offered to open one up for Ainsley for her christening. We contribute as much as we can each month.
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| Posted 4/17/10 12:12 PM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: How are you saving for college?
Posted by IVFGIRL
NYS 529K, I put $100 aside for each child each month. It is NYS tax free, so I save on my taxes too!
this is us exactly.
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| Posted 4/17/10 12:18 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: How are you saving for college?
Here's my plan:
 Image Attachment(s):
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| Posted 4/18/10 4:34 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: How are you saving for college?
We have a 529 and put money away each month
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| Posted 4/18/10 5:34 PM |
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CrankyPants
I'm cranky
Member since 7/06 18178 total posts
Name:
Mama Cranky
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Re: How are you saving for college?
I think about this a lot.
We have a 529, a custodial brokerage account and a regular savings account for each child.
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| Posted 4/19/10 9:09 AM |
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MelissaMac
Life is Good
Member since 6/06 2135 total posts
Name:
Melissa
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Re: How are you saving for college?
We do 529's too
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| Posted 4/19/10 12:40 PM |
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MrsBurtch525
Year for change!
Member since 1/09 6017 total posts
Name:
Taryn
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Re: How are you saving for college?
Posted by MelissaMac
We do 529's too
Same here
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| Posted 4/19/10 1:06 PM |
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mommyIam
Member since 7/09 9209 total posts
Name:
Shana
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Re: How are you saving for college?
DH and I both payed our own ways through college and I think it helped built our character. We both went to public colleges, and had extremely valuable education experiences. I did spend a year at a "brand name" college, and I can say the social experience was much livelier, but I couldn't afford to continue. When I transferred to public college, I found the educational experience so much more valuable. Working part time kept me busy and forced me to focus. I attribute excelling in college because of it.
We'll probably start some kind of saving fund but leave it open as to what it will be used for. In my mind, ideally it would be for down payment for DC's first home, by age 20 or so. Even if its a tiny condo, i think its a great tool for them to build financial responsibility, confidence, security, as well as secure their financial assets . Its probably as profound educational experience as anything in college may be.
I would hope it wouldn't be too unrealistic in the future to expect young adults to pay their way through college, and that public colleges would still be reasonable option. But if DS really insisted on wanting to go to "brand name" college, it would be his choice on how to allocate the funds.
Even if DS didn't want to go to college, I would support it (I can almost say for sure, I don't think DH would support it). My sister never finished college and has a successful business of her own. She tried to go back and finish but felt it was a waste of her time, it didn't give her anything she needed to improve on her career.
Just my opinion, I think others have other experiences that may have shaped their views, but this is mine 
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| Posted 4/19/10 1:06 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: How are you saving for college?
I paid for college with work and scholarships, so will my kids if they decide to go.
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| Posted 4/19/10 1:07 PM |
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MrsSteflily
I love chocolate
Member since 4/06 2047 total posts
Name:
Stef
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Re: How are you saving for college?
Another vote for the child to get scholarships, save, work and get loans.
It's a personal choice and we will help as much as we can, but they are not getting a free pass to college.
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| Posted 4/19/10 1:09 PM |
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jambalady
Is it summer yet?
Member since 8/06 7392 total posts
Name:
Holly
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Re: How are you saving for college?
Posted by momytobein2010
DH and I both payed our own ways through college and I think it helped built our character. We both went to public colleges, and had extremely valuable education experiences. I did spend a year at a "brand name" college, and I can say the social experience was much livelier, but I couldn't afford to continue. When I transferred to public college, I found the educational experience so much more valuable. Working part time kept me busy and forced me to focus. I attribute excelling in college because of it.
We'll probably start some kind of saving fund but leave it open as to what it will be used for. In my mind, ideally it would be for down payment for DC's first home, by age 20 or so. Even if its a tiny condo, i think its a great tool for them to build financial responsibility, confidence, security, as well as secure their financial assets . Its probably as profound educational experience as anything in college may be.
I would hope it wouldn't be too unrealistic in the future to expect young adults to pay their way through college, and that public colleges would still be reasonable option. But if DS really insisted on wanting to go to "brand name" college, it would be his choice on how to allocate the funds.
Even if DS didn't want to go to college, I would support it (I can almost say for sure, I don't think DH would support it). My sister never finished college and has a successful business of her own. She tried to go back and finish but felt it was a waste of her time, it didn't give her anything she needed to improve on her career.
Just my opinion, I think others have other experiences that may have shaped their views, but this is mine
DH and I feel exactly the same way.
Saving for our DC's college fund is not our first priority.
I paid my way through both college and law school (through student loans and working). DH's parents partially paid for college and he used student loans and worked for the rest and for law school.
I see all these recent grads that come into the workplace, whose parents paid for everything and their first job is out of college.
They have a sense of entitlement and lack of work ethic that I find very disturbing.
we will try to save as much as we can for college, but our retirement comes first. If we have extra, it will go into savings for DC.
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| Posted 4/19/10 1:13 PM |
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jam11308
Member since 11/07 7273 total posts
Name:
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Re: How are you saving for college?
Posted by neener1211
I paid for college with work and scholarships, so will my kids if they decide to go.
Just saw this post as I was doing a search on 529 plans - sorry I'm a few days late 
Both my dh & I had to pay for everything too (except for room & board since we commuted & lived w/our parents), so we both feel that our kids should work for their education as well. We did it & it can be done, but...
we still want to help. There is no way that we'll be able to afford college for our kids anyways when they're projecting it to be $200-$500k for 4 years (depending on the school) by 2029! So while we're socking the bulk of our $ into retirement funds for ourselves, we still plan to put about $50 per paycheck into a 529 per kid. It's not a lot at all, but if we can easily give them about $20k+ to help them out/ease their burden then I'm all for it.
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| Posted 4/29/10 11:39 AM |
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Diane
Hope is Contagious....catch it
Member since 5/05 30683 total posts
Name:
D
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Re: How are you saving for college?
Posted by MrsSteflily
Another vote for the child to get scholarships, save, work and get loans.
It's a personal choice and we will help as much as we can, but they are not getting a free pass to college.
same here. The biggest mistake people make is setting up a 529 plan and putting so much $$$ in it, that they dont save enough $$ for yourself to retire.
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| Posted 4/29/10 11:48 AM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: How are you saving for college?
529 plans for both kids
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| Posted 4/29/10 11:49 AM |
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Re: How are you saving for college?
529
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| Posted 4/29/10 11:50 AM |
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eddiesmommy
best buds!
Member since 5/09 11524 total posts
Name:
Melissa
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Re: How are you saving for college?
Just wanted to say, I had my college paid for in full by my parents....I did not and do not have a poor work ethic, or any sense of entitlement in the workplace. I have also seen people who had to pay their way through, drop out of college, not apply themselves. So while it played at part for some, it does not always mean that for all who had their education paid for.
I think the stepping stones for work ethic and character and responsibility, are set long before its time to go to college.
Message edited 4/29/2010 11:55:49 AM.
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| Posted 4/29/10 11:52 AM |
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KrisT
Two Boys for Me!!
Member since 1/07 5213 total posts
Name:
Kristin
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Re: How are you saving for college?
Right now we have a 529 but I think we also are going to set up a separate investment (mutual fund, stocks, etc.) for his college.
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| Posted 4/29/10 11:57 AM |
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JenBenMen
party of five
Member since 9/06 11343 total posts
Name:
Jen
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Re: How are you saving for college?
Posted by eddiesmommy
Just wanted to say, I had my college paid for in full by my parents....I did not and do not have a poor work ethic, or any sense of entitlement in the workplace. I have also seen people who had to pay their way through, drop out of college, not apply themselves. So while it played at part for some, it does not always mean that for all who had their education paid for.
I think the stepping stones for work ethic and character and responsibility, are set long before its time to go to college.
I agree 100%
My parents did have me pay loans for law school though
But I believe in not burdening an 18-22 year old with the payments.
i DID work all throughout college (store, waitressing, telemarketer) so its not like I had free reign
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| Posted 4/29/10 12:14 PM |
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Janice
Sweet Jessie Quinn
Member since 5/05 27567 total posts
Name:
Janice
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Re: How are you saving for college?
7 kids in my family, 7 scholarships awarded.
5 fulls, 2 partials.
if they want to go bad enough, they will find a way.
dh is fully prepared to take a job at a private university when the time comes in order to have the kids attend that school if they want. that is how dh's family sends their children to school...cafeteria workers and janitors.
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| Posted 4/29/10 12:21 PM |
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