(Closed) Are you saving for your childrens education?

posted 7 years ago in Babies
  • poll: Will you be putting away money for your kids education?
    Yes, we'll be saving money for him/her/them : (74 votes)
    72 %
    No, they'll have to pay their own way : (18 votes)
    17 %
    Not sure, haven't discussed it yet : (11 votes)
    11 %
  • Post # 3
    Member
    1220 posts
    Bumble bee
    • Wedding: November 2009

    In dealing with my husbands student loans I personally find it the responcibility of the parent to provide for their child(ren’s) educations.  College/University is almost of requirement to get good jobs and it’s going to be even more so in 18-20 years.  I plan on not saddling my kids with student loans since they suck big time, don’t “build character”, and basically you graduate with this cloud over your head.

     

    There are many other ways to teach children to “own their education” than to put them in debt.

    Post # 4
    Member
    3943 posts
    Honey bee

    We’ll be saving money for our future kids, but I doubt we will save enough to cover the whole thing for 4 years. When the time comes we will offer each child X amount for school and if they need extra they can take loans or pay for it themselves.

    I paid for school myself because my mom was not able to contribute. I don’t think its the parents responsibility. After everything my mom did for me my entire life, I dont think its fair to say at age 18 “oh by the way, I need $25K for the next 4 years. Ok?”.

    Post # 6
    Member
    6351 posts
    Bee Keeper

    Annabelle and my future step son both have college savings accounts. I would prefer to pay for as much of it as possible. My mother was not in a situation to help me and I am now saddled with 18k in student loans.

    I would like to avoid that for Annabelle and jr Mr. A if possible.

    Post # 7
    Member
    4371 posts
    Honey bee

    double post

    Post # 7
    Member
    4371 posts
    Honey bee

    While we don’t plan on having kids as of now, Darling Husband and I discussed that if we ever did, that we would not pay for their higher education. Both Darling Husband and I went to college and have post-Bachelor degrees, but paid for it ourselves. We just feel that college is an adult responsibility, and that they would cherish it more and take it more seriously if they had to pay for it themselves.

    Post # 8
    Member
    4371 posts
    Honey bee

    I would hope my kids would not be saddled with debt. Darling Husband and I certainly weren’t. We both had our undergrad paid for through scholarships because we worked hard in high school, knowing our colleges would not be paid for.

    We have some debt from grad school, but that is well worth it and manageable.

    Post # 9
    Member
    6351 posts
    Bee Keeper

    I had scholarships worth over $25,000. And still have debt.

    Post # 11
    Member
    3564 posts
    Sugar bee
    • Wedding: August 2010

    We’ll definitely be paying for our kids colleges, and hopefully we’ll be contributing to our nieces/nephew as well. I would hate for my kids to feel like they had to give up a great education because it was expensive.

    Post # 12
    Member
    13099 posts
    Honey Beekeeper
    • Wedding: July 2010

    Darling Husband and I will absolutely be saving for our childrens’ college education.  A college degree is becoming almost a requirement in the work force in todays world and will be even more so when my future children reach that age.  College is crazy expensive and the costs are only rising.  I refuse to force my child into that kind of debt just to get started in the world.

    I worked part time all through college and full-time in the summers (one summer was 70+ hours a week) and that was no where near enough money to even touch the cost of college.  For a kid to be able to cover the costs without graduating with tons of debt, they’d have to be able to work full-time or more.  And that is no way to go through college if I could help them.

    ETA: You can’t really bank on kids getting scholarships.  I graduated #2 in my class from one of the top HS in my whole state.  I also had a ton of extra-curriculars with exective office experience.  I got a half-ride to the school I attended – that still leaves a lot of money to cover in tuition, room and board.  And not everyone’s kid can be at the very top of their class.

    Post # 13
    Member
    4371 posts
    Honey bee

    @prettylizy: For us, the decision was from the fact that we knew some people that had everything paid for, and stayed in school for years because they could or did not really worked hard through college so they couldn’t get good paying jobs out of college. We just felt that our parents actually helped us because we had to “fight” for everything we got.

    Post # 14
    Member
    10714 posts
    Sugar Beekeeper
    • Wedding: June 2012

    We don’t have the money to do that but I do want to do something for my son to help him to be able to get a job and start saving his own money… I’m thinking about saving as much as I can each month and putting it into a ‘car fund’ for him. That way he can work at 16 if he wishes and if he decides to go to college he can start saving his own money right then…I never had anyone help me but then again I got sick of college after a year and dropped out… 

    Post # 15
    Member
    2493 posts
    Buzzing bee
    • Wedding: August 2012

    We’re hopeful that Dirty Delete will help contribute to her schooling (to help her appreciate it more, I suppose), but we do have a savings account set up for her, along with some RRSPs. We contribute monthly, but nothing extravagant (she’s only 6-years-old, and we have quite a bit of time to save), but every time her piggybanks need to be purged, it goes into the account (except for maybe a bit of ‘fun’ money.. she’s not a big spender)..

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