Post # 1
Jumping off from the “why are you in debt” board, it seems as though a lot of bees have student loans.
My DH and I have been having conversations about our financial goals, and one of the big ones is that if all of our other expenses are covered, we are definitely going to strive to pay for 100% of our children’s education. Both of our parents paid for ours, and it helped us out tremendously in life not entering the “real world” with $10ks of debt.
I have other friends who’s parents are financially stable but did not help them with school for various reasons.
Do you plan on paying for your children’s education?
Post # 3
- Wedding: March 2010 - Calamigos Ranch
If I can, I will! I went to a state school for undergrad (which was inexpensive at the time!) so my parents were going to help me pay for college, but luckily I got a full scholarship and so they didn’t have to (well, that’s sort of true: my scholarship paid tuition and books, my parents paid my [very, very inexpensive] rent, and I got a part-time job to pay for the rest). All of my student loans came from grad school. If I can afford it, I will absolutely pay for my kids’ undergrad, and help as much with grad school, if they decide to go, as I can (I didn’t get any help with that, and I’m drowning in it now!).
Post # 4
If we can, we will but we will encourage our children to make smart financial decisions and earn academic scholarships for sure!
I was lucky to have no undergrad debt thanks to my parents and scholarships and my decision to go to a state school. If our kids were to fail any of their courses, I’d have trouble paying high tuition and living costs.
Note: this is completely ideal since we don’t have any kids.
Post # 5
We hope to. My little bug is six and my stepbug is three. My parents were unable to help at all and it was a real struggle for me. We’ll pay for as much of both of their educations as possible. FI set up 529s for them.
Post # 6
Coming from a single parent house, my mom wasn’t able to help me financially with college. I paid for it myself with loans and have about $40K in debt. Of course I wish I didn’t have that debt, but I think it helped me learn the value of money and my education.
I would love to be able to afford college for my children, but I don’t think it will be realistic. Even state colleges in MA are extremely expensive. I do plan to start a college savings account when my future babies are born though. Hopefully I can save something for them.
Post # 7
Yup, either FI and I will be paying, or there will be money from my parents or FI’s dad in trusts for the kidlet’s educations.
Post # 8
We plan to…my parents paid for the first three years of my college at a private, liberal arts college (aka $$$!) and I am very grateful. However, I paid for grad school on my own, with loans, which seems like a good compromise. If my kid is smart enough to get into a great private college, I would hate to have money be the reason that he/she can’t go, so I would definitely pay.
Post # 9
We hope so! That’ll be one of the first savings accounts we set up after buying a home.
My parents paid for two years of my schooling, and it was a huge help. They made a few bad investments before the economy fell apart, so they weren’t able to pay for the rest. I still have yet to finish my degree, because of it. I plan on going back, but only when I’m financially stable.
Post # 10
@Bostongrl25: haha I went to a state college in MA. My student loans were equal to about 15k after scholarships and financial aid. MA is expensive!
Post # 11
We plan to. Both of our parents paid for our educations and we are very lucky to have come out of college with no student loans to pay back. We went to a private liberal arts college that was very expensive. My dad used Financial Aid but also paid for some from what he had saved. We hope to be able to do this for our children to.
Post # 12
If I can I will. I plan on saving for it.
Post # 13
I plan on giving my kids the same deal my parents gave me: we’ll pay for undergrad, but grad school is all you.
Post # 14
I’m probably going to go about it how my parents did. I’ll pay a significant portion, but I will also take out a loan. I will expect their grades to be good in high school so that they can apply apply apply for scholarships! I will also request that the 2 summers before going to college they contribute to their own room/meal plan/books fund.
I had a very tough and involved mom! I joke now that she should have played Sandra Bullock’s character in “The Blind Side” because she was SO pushy but ultimately we all got into college because she pushed us. Once she knew we were serious about working, she put up the rest of the money.
I have friends whose parents paid for college entirely no loans, and that’s awesome for them. I just don’t see ever being well off enough to do it. But if I could, yes I would. Life is hard enough without crippling debt.
Post # 15
I’ve had no parent financial support in my schooling so I am one of those with lots of debt.
Having said that, I will hope to pay for most of my kids tuition. I think I would like to pay for their tuition but things like rent, groceries, etc will be up to them. I think its important that kids still have to pay some of their own stuff. It teaches financial independence and budgeting which are very important.
Post # 16
@SoontobeMrsA: I went to one as well! I lived on campus which of course added to the cost. But state schools have this reputation of being cheap but they soooo aren’t!!