https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sat, 11 Apr 2026 16:34:19 +0000 https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-98343 Wed, 21 Mar 2012 14:52:55 +0000 banana 98343@https://boards.hellobee.com/ <p>Considering college tuition increases on average 5% a year (based on research), for a private school tuition, we would need almost $300,000 for 4 years of college! Yikes!!! Public school would be $180,000.</p> <p>uhhh... we have a LOOONG ways to go until we can have enough for 1 kid to go to college, let alone 2! </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97976 Wed, 21 Mar 2012 08:25:32 +0000 tequiero21 97976@https://boards.hellobee.com/ <p>my parents took out loans, but i paid a chunk of it, and my HUBBY paid the rest of it for me. and we're still paying his. i think my hubs would want my kids to pay their own way but we may start a 529 plan. haven't gotten that far in our planning. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97971 Wed, 21 Mar 2012 08:11:55 +0000 volksgirl64 97971@https://boards.hellobee.com/ <p>After last year's tax return, we started a 529 plan for DD#1. We went with Ohio's plan because it was ranked the best at the time and didn't have a lot of restrictions. I picked 3 funds to contribute to and put in $15/month in each. She's turning 3 on Monday so we've got a while to go. Also, I gave a contribution slip to grandma and she's sending in money now too! </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97824 Tue, 20 Mar 2012 18:08:55 +0000 Mrs. Jacks 97824@https://boards.hellobee.com/ <p>We have a great 529 in our state, so we just went with that. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97782 Tue, 20 Mar 2012 16:12:28 +0000 Andrea 97782@https://boards.hellobee.com/ <p>@regberadaisy: cool, lemme know if you find one! :-) </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97781 Tue, 20 Mar 2012 16:12:10 +0000 yoursilverlining 97781@https://boards.hellobee.com/ <p>We will start the official “LO college savings” once she is born – we get a small ($500) savings bond from the hospital we deliver at, through our state, and then we’ll take that and existing savings that are earmarked for LO’s college and put them into a targeted fund just for her college. We’re assuming it will be a 529 plan, but we are going to meet with our accountant once LO is born and discuss options with him.</p> <p>To both my husband and I, college is non-negotiable, and so is offsetting some of the expense of college as parents. The expense is huge, so we want to start as early as possible! </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97779 Tue, 20 Mar 2012 16:10:38 +0000 regberadaisy 97779@https://boards.hellobee.com/ <p>@Andrea:<br /> Awesome! I'm leaning towards some kind of online high yield savings account. Another thing to research....I do so love researching. Haha </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97760 Tue, 20 Mar 2012 15:57:10 +0000 Andrea 97760@https://boards.hellobee.com/ <p>@regberadaisy: FWIW, my financial planner told us just to open a regular bank account so that's what we did! </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97757 Tue, 20 Mar 2012 15:55:25 +0000 chopsuey 97757@https://boards.hellobee.com/ <p>We have about ~15k in LO's college fund. She's almost 1! </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97744 Tue, 20 Mar 2012 15:48:58 +0000 heffalump 97744@https://boards.hellobee.com/ <p>@twogirls: I feel like I would love to help LO if we can, but if not it's not the end of the world. I used to be all about paying for it, but now I've realized that it's just not always possible and we have to look out for us and our retirement first. LO will be able to take care of herself :) </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97727 Tue, 20 Mar 2012 15:25:11 +0000 plantains 97727@https://boards.hellobee.com/ <p>@twogirls: Well good news is that NYC has state tax benefits. $10,000 tax deductible for married couples!</p> <p>There is some good info to be found here:<br /> <a href="https://uii.nysaves.s.upromise.com/" rel="nofollow">https://uii.nysaves.s.upromise.com/</a></p> <p>I would say you still have lots of time to let it sink in so don't rush. Take your time, read when you can until you start feeling a bit more comfortable about the whole thing.</p> <p>You want to look at whether a 529 is to restrictive for you, whether it affects going to school in other states etc. Additionally you have to consider whether you will be able to use the money for anything else if LO decides not to go to college. These are the many questions to ponder. We are likely going 529 because of the NY state tax benefits. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97717 Tue, 20 Mar 2012 15:17:35 +0000 regberadaisy 97717@https://boards.hellobee.com/ <p>You have no idea how many times I have looked into this in the past 5 years. Every time I leave myself back at square one.</p> <p>At this point I think we are going to set aside money but nothing in a specific "towards college" plan like a 529. I'm just not sure if a 529 is the best option for us right now. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97714 Tue, 20 Mar 2012 15:15:58 +0000 twogirls 97714@https://boards.hellobee.com/ <p>@plantains: NYC and this is where I start to feel overwhelmed. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97712 Tue, 20 Mar 2012 15:15:02 +0000 plantains 97712@https://boards.hellobee.com/ <p>@twogirls: I thik it also really depends on what state you live in and what the state tax benefits are. That can really have a huge impact on how much you do and when you start doing it. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97704 Tue, 20 Mar 2012 15:10:05 +0000 twogirls 97704@https://boards.hellobee.com/ <p>@Chillybear: it took me about 10 yrs to get rid of my loans</p> <p>@plantains: will definitely keep that in consideration<br /> @winniebee: will look into that<br /> @artbee: My DH's parents paid for his college and I paid for mine so we have different directions of where we want this to go. He's very adamant regarding paying for our girls' college education. While my approach is basically to help out. I'm torn but I still want to look into options right now </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97680 Tue, 20 Mar 2012 14:58:48 +0000 heffalump 97680@https://boards.hellobee.com/ <p>We haven't started yet :( We want to do a 529 but right now it's just not practical for us. We need more money for ourselves right now in our savings, we're getting a lot done around our house (a new roof is being put on as we speak), and we just can't afford college yet. My Grandmother is in hospice, and while I'd obviously much rather have her around I do know that she won't be along much longer and we should get some sort of inheritance that will go towards LO's college. </p> <p>I have mixed feelings on paying for LO's college. My parents paid for mine and I'm forever greatful. Life is a lot easier without paying off student loans! But my husband had to pay for his own college with loans and he isn't having any issues with it, so either way I think she'll be fine. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97672 Tue, 20 Mar 2012 14:54:37 +0000 plantains 97672@https://boards.hellobee.com/ <p>We are probably going the 529 route. I had a look at Gerber and for what you put in, IMO the returns don't seem good enough. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97663 Tue, 20 Mar 2012 14:45:45 +0000 winniebee 97663@https://boards.hellobee.com/ <p>We're going to start a 529 savings plan for LO. Not sure what we will be contributing yet, but definitely something annually. </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97662 Tue, 20 Mar 2012 14:45:42 +0000 Chillybear 97662@https://boards.hellobee.com/ <p>Ha i'm still paying off my own 15 yr college loans </p> https://boards.hellobee.com/topic/how-are-your-college-saving-plans#post-97659 Tue, 20 Mar 2012 14:43:41 +0000 twogirls 97659@https://boards.hellobee.com/ <p>I am trying to be practical especially seeing a rise in recent college tuitions. Should I start thinking about saving for college for my LOs? I just started to look into it and feel extremely overwhelmed. </p> <p>Is anyone in the Gerber Life College Plan? Any pros or cons? </p>