Post # 1
My parents haven’t given my a dime for college. DHs parents paid his first two years and then his grandma died and left him a large sum of money that paid the last two years + his living expenses during his year long internship after college. I feel like paying for your kids college can really put them ahead in life and I plan on paying for my kids education, this is a large part of the reason why we will only be having two kids. At this rate we should have about 20k (hopefully more) by the time each kid is ready for college. Obviously I know this wouldn’t cover all the expenses at some colleges but if they live at home, we live next to the best community college in the state and a top rated university. obviously, if they decide to go elsewhere then we would readjust our plan, but that’s the plan for now!!
Anyone else plan to pay for their kids college? Why or why not?
Post # 3
I was just having this conversation with my husband! I told him that I will definitely discourage our kids from taking out student loans. Ideally, we would like for them to apply for (and get) scholarships and have part-time jobs. Whatever’s left over that they owe, we will pay. However, they must have good grades and behave responsibly! We’re not going to just throw money at them.
We do not have kids yet, so only time will tell! 🙂
Post # 4
@LBeeLove: yeah, I do think good grades should be a requirement!!
Post # 5
I will if I can, but will only continue to pay if they are acting responsibly. I’m not buying a $100,000 four year booze cruise
Post # 6
My parents paid for all of my college and FI’s parents paid for all his kids college. I feel it’s definitely our resonsibility to pay for our kids colleges. We will begin saving for college when they are born. If they don’t go to college, we keep it, if they get a scholarship, they keep it.
Post # 7
My parents paid for all of my education and I will be paying for my childrens 🙂
Post # 8
We plan to pay as much as we can. They say you should save around $1000 per month, per child, to fully fund a college education. That’s pretty out of reach (lol), but when we start having children, we definitely plan to invest in a college savings plan and probably save more on top of that, depending on the plan.
My parents purchased a prepaid tuition plan for me. While my college expenses were fully covered by scholarships, I was able to use the money from the prepaid tuition plan to pay for my living expenses.
DH’s tuition and fees were also covered by scholarships, and his parents paid for his living expenses.
We both also worked throughout college, which I think is really valuable.
We are very lucky to have never taken on any student loan debt. We’ll both have PhDs in a few years without ever having taken out a penny of student loans. I very much hope for the same experience for our children or, at worst, minimal loans.
Post # 9
We will help them. My parents helped me, but did not pay for everything – I worked my ass off to save money before going, and then continued to work my ass off throughout my many years of school so that I could afford to keep going. I am incredibly grateful to my parents for helping me through, and I feel like I worked harder (both in school, and at work) because I really appreciated the cost of my education. I hope my future kids will have a similar experience.
Post # 10
We plan to save a certain amount (in line with the price of in-state tuition cost) and offer that amount toward our future children’s education.
However…my parents saved for my college education, and were able to pay all but $13K of it. I went to a private, top tier college, so it wasn’t cheap. I’m eternally grateful for that! I would like to offer my future kids whatever they want as far as college goes, but my husband feels strongly about not paying more than whatever in-state is.
Post # 11
I’ve been on my own with paying for university, that includes food, rent, all that. Same story with FI. We hope to pay for our kids expenses in college when they get there!
Post # 12
:/ I read here posts about college debt, student loand up to 100k and it makes me so sad.
So maybe I live in Mexico (where, everyone knows, we don’t have the best education in the world), and I go to a public university, but man! At least I can have a degree with out having to pay for it my entire life! I actually pay 300 pesos each semester (which is LESS than 30 dollars) because my grades stay above 90/100, but even if they didn’t I wouldn’t pay more than 500 dollars.
I really hope the US government does something about this super expensive education, it is just not fair for all the citizens to have this huge debt!! :CCCC
I’d do my best to help my kid through school!! But as PP said he/she should be responsable!
Post # 13
Yes, we will try to help with as much of the costs as we can. My parents were able to pay for my college, and I am eternally grateful. I only had to take out student loans to cover living expenses my last year of college because I was student teaching and could not work. We will continue to contribute as much as we can as long as they are being responsible with their choices during that time.
Post # 14
We will pay 100% (or as muh as we can) as long as they are working on a legitimate major that is an actual investment in their future.
My fiance is an artist and got a visual arts degree and says that there is NO WAY he would pay for an art degree, as he has never used his in the ten years he has had it beyond being able to say that he has a college degree.
He wishes he had gone for a business degree, for his same artist career.
Post # 15
@Ninteenthchance: We plan on paying for private school tuition (which at my school cost 5x what my undergrad tuition ended up being annually), and for their first degree.
We will only have one child because the school I attended from kindergarden onward or their partner boys’ school will be very expensive. I can’t imagine my kid not going to one of those two institutions, so we will need a one-child only policy, hah. For undergrad, we’ll have an education fund set up, just like we had.
Post # 16
I would have loved to pay for my daughter’s college, but as a single mom, it was impossible. What I did do, however, was have her live at home and pay for all her costs (food, cell phone, clothes, etc.). She does have some debt from her undergrad, but it’s manageable. It does help that we have several universities in the area (although she attended her first year out of state).