(Closed) Do you plan to pay for your child(ren)’s college? (Do you have a college fund?)

posted 9 years ago in Parenting
  • poll:
    I (will) have a college fund for my child and my parents paid for most or all of my college. : (61 votes)
    34 %
    I (will) have a college fund for my child and my parents paid for some but not most of my college. : (27 votes)
    15 %
    I (will) have a college fund for my child and my parents paid for none of my college education. : (49 votes)
    27 %
    I do/will NOT have a college fund for my child and my parents paid for most or all of my college. : (2 votes)
    1 %
    I do/will NOT have a college fund for my child and my parents paid for some of my college. : (9 votes)
    5 %
    I do/will NOT have a college fund for my child and my parents paid for none of my college education. : (22 votes)
    12 %
    Other? Please post :) : (12 votes)
    7 %
  • Post # 62
    Member
    186 posts
    Blushing bee
    • Wedding: July 2010

    Depends on if my husband and I have our own college loans paid off by then. Lol.

    In other words, we’ll help if we can.  Neither one of our parents were willing or able to.

    Post # 63
    Member
    2649 posts
    Sugar bee
    • Wedding: May 2016

    I paid my own way through school, while FI’s  parents paid for all of his.  We talked about this last night actually,  and he hates seeing me panic every semester about weather or not im gonna be able to go. ( right now I owe the school 5,000$ and luckally they have been very understanding  about my life and are willing to let me slide on the payments, so long as i get it all in before i graduate.

    That being said, Fi and I discussed what we would do for our kids ( if i decide to have any) he wanted to pay for their whole way, while I think that alothough there has  been some serious mental breakdowns over this, it has made me more mature in my finincial life as well as being more committed to doing well and getting done on time, so I thought they should pay their own way too.

    We came to an agreement that I actually think is the best.  We  will pay for their first YEAR and then the spring semesters after that.  They can work over the summer to pay for the fall and their books, but comming up for money in the spring is hard becuse even working full time, hours get cut in the winter so its hard to make ends meet.

    Post # 64
    Member
    2187 posts
    Buzzing bee
    • Wedding: June 2011

    We hope to pay for all of it for our children since neither of our parents never offered to pay for college for either DH or I.

    Post # 65
    Member
    2373 posts
    Buzzing bee
    • Wedding: July 2008

    Nope. I paid for my own education (which was expensive seeing as how my parents are high income and financial aid went of their income for most my college career), my children will pay for theirs. If they don’t want to take out loans: ROTC, scholarships, service, etc.. My husband went to college on a tennis scholarship- the Navy is sending him to grad school. My masters degree will be paid with by his GI Bill.

    Post # 66
    Member
    3261 posts
    Sugar bee

    My father paid for my 100% of my undergrad degree in cash. I don’t have one penny of debt to my name, and I am SO thankful for it..especially going into my marriage. I hope I can some day do the same for my children.

    Post # 67
    Member
    326 posts
    Helper bee

    College education is free in Ireland so thankfully this won’t be a problem. We will ceratinly pay for their accomodation though, not sure about living costs. I have mine paid while my OH works for his. It depends on whether I think that they will be able to kepp up with grades and work or not. 

    Post # 68
    Member
    326 posts
    Helper bee

    Also, how common are scholarships in america?! They are not common at all over here

    Post # 69
    Member
    4334 posts
    Honey bee
    • Wedding: October 2011

    I think we will. (Both of us got significant help from our parents.) We are so grateful to  be debt-free, BUT (and I havent read most of this thread,) we also see the whole “college degree inflation” thing, and aren’t going to just hand money over to our kids when they want to go to college but don’t have a plan for what they want to do. I of course have no idea what the financial situation will be for colleges 20+ years from now, but (unlike what my parents did,) I will strongly encourage them to consider things like community colleges, living at home, doing something that is more like an apprenticeship, and certainly working at a job that doesn’t require a college degree until they can figure out either if they like that life, or until they have a better “plan” for what to do in college.

    I know for me, I wonder if I took college for granted a bit  too much. I know I was VERY lucky/blessed to discover only a year into college something that I actually wanted to do and could make a living out of. But, I could have discovered that by not going to college, and I ended up wasting my first year of college. (financially.) If I ended up majoring in what I originally half heartedly thought I would do? who knows…

    Post # 70
    Member
    155 posts
    Blushing bee

    My parents paid for school for my brother, sister and I.  We didn’t have to meet certain standards in order for the money to continue, but I think maybe if any of us had been failing courses that may have changed. 

    I hope that when the day comes my mythical future children are able to have the same deal.  I know I definitely appreciated graduating debt free.

    I think there’s some value to having your kids pay their own way and that it may light a fire under them to do well, but I also had a friend that paid for everything herself who skipped/dropped/failed a number of classes and said that she felt it didn’t matter because it was only her money that she was wasting, not her parents.

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