We have started a savings account for her, but only put gifted money in there, so she may use that if she chooses. Otherwise, we most likely will have her pay her own way. We will help her through tough times if she needs it though.
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I have mixed emotions about this. I feel like she should have some ownership in her college education, but I don't want her to graduate with hella debt. We started a savings account her her and will put all her gift money in there. I also think when she starts working half of every paycheque should go into savings and we'll work it from there.
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We will try to pay for their undergrad education.
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Partially. My goal is two years.
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My husband and I were lucky enough to have our education paid for by our parents and we both are grateful and thankful. So we will be doing the same thing.
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I'd like to pay for some of it. I'll pray for scholarships when I have kids applying for college!
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Our plan is to pay for undergrad at least.
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Our plan is to be able to cover her undergrad, but I hope she gets scholarships so she can use the money towards a down payment or other big expense when she is older.
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We will try to help if we can, but like I did, she will likely take out loans. We need to save for retirement!
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Yes. We just established 529 account this week actually because we finally got her social security number.
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@sorrycharlie: yeah no kidding!!
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We plan to and will do everything in our power to pay for undergrad. Both of us are very, very lucky in that our parents paid for our colleges and we both graduated debt free, which has made a HUGE difference, so we do plan to do it for our LOs too.
However, who knows WHAT college will cost in 18 years!!
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If we have a good, responsible child, we will gladly pay as much as we can afford. We won't do anything like pay for him to live in a dorm that's 5 minutes from our house, but we would like to help with tuition and books. We have a savings account that we put money into every month and we also add money to it that is gifted to him. His grandparents also have a savings account of their own for him, so I have a good feeling his college education should be covered.
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Yup hopefully. We started a 529 plan for him and will hopefully be able to pay for all kids' college.
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Unfortunately no, as DH and I will still be paying off our own college loans when it's time for LO to go. If we had any extra money to put aside we would try to pay our own loans off sooner and maybe start a savings account for LO, but I doubt that will happen with the huge amount that we owe.
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I worked 40 hours a week during college. I would never want my kids to do that. Luckily we already started a 529 and we get 50% off at the university I work at, so hopefully undergrad won't be too spendy.
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We have a 529 fund (2 actually) for LO; and will pay as much as we can. We expect to pay for undergrad and we feel its our responsibility as parents to help pay for as much of college as we can.
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DH and I will pay for our children's college. We don't want them to graduate with a sea of debt.
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At least a chunk of it. It may not be feasible with 2, maybe 3 kids. But I want to offset some of the cost for sure
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We will pay as much as we can. Hopefully LO and future LOs will choose affordable colleges, such as state funded universities in our area, as opposed to private or out-of-state schools.
I have a ton of student loans, and I would like to encourage our future kids to avoid student loan debt as much as possible. It's just the worst
We are lucky that DH doesn't have any.
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Hopefully our kids will go to whatever school Wagon Sr. works at at the time! Free tuition. hehe. If not we'll do everything we can to help them while they're in school, and after they graduate we'll probably split their loan payments with them. But I don't want to or expect to pay fully for undergrad or grad school.
If we choose to put them in private school for middle or high school we'll pay for that.
I would like to gift them with a down payment though, either when they get married or whenever they're ready to purchase real estate.
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We'll pay for some but want her to have the responsibility of paying for her education.
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I hope to be able to! Or at least take on their student loans until they're setup in their careers before handing it over.
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Yes we plan on paying for undergraduate and graduate school.
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my hope is that our someday LOs will go to state school and that we will pay for most of it or that they get some serious grants, but we will expect them to take on some loans so they have a sense of ownership & responsibility. another option is one my dad took on later in my schooling, student takes out loans to pay for it, but if they complete it in a satisfactory manor, then they get them paid off, if not, they're stuck paying off their mistakes.
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Yes. I was fortunate enough to have my undergrad and most of grad school paid for by my parents, so we plan on doing everything we can to ensure that we're able to do the same for our daughter.
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I hope they get an academic (or sport) scholarships like their father, otherwise we will help. DH also worked all through school and the year I did so in undergrad my grades were the best. I will encourage my kids to get part time jobs too. With limited time to study one seems to make the most ofitMy mom paid for my undergrad, I paid for my post with company contributing, so why not do the same (if its not a hardship)?
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For some. But with four kids in a three year time span it will be difficult to pay fully for all.
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Partially. I worked through high school and college to pay for my portion and my parents paid for a larger portion. It gave me incentive to save and get scholarships to avoid debt. I graduated early with no loans and no regrets. I hope to do the same for our kid(s)
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@Oceanis723: some schools give a deeper discount for each kid enrolled. You should definitely look for those schools. Maybe baby girl will get to go for free!
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We plan on it. Paying for college is the priority (after retirement), but if we can help with graduate school we will.
We were both very fortunate to have our parents pay for our undergraduate degree. My parents supported me through law school (I took out loans for the tuition) and my husband's mother paid for his medical school education and supported him. I hope we can do something similar for our kids.
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Yes. It is one of the reasons I went back to work.
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@sorrycharlie: ditto. Saving for our retirement is much more important than saving for her college.
We have started a fund for her with gifted money and are putting a small amount into that account each month. In 18 years, it may cover the cost of one textbook.
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our hope is to pay for it, but if we have a second child, we may be able to only partially help.
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@mediagirl: Have you thought of requesting no gifts from grandparents for holidays and bdays? My parents will give T X amount for Christmas and X amount for his birthday every year, all for the college fund.
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@winniebee: I have asked my parents to contribute to her college fund and they said they will. The in-laws sent cash for her baptism and Christmas, so we're guessing they will continue to do that. The in-laws don't do "gifts" so we won't complain about any cash they want to send us!!
I would love to pay for her entire college but it's just not possible for us to put away $600/mo right now for her college while we are saving for retirement and putting money into our savings accounts. Both my husband and I had our college tuitions paid for and we're both very grateful for that. I just think college will be so ridiculously expensive in 18 years that she will probably end up going to a community college for 2 years and then, who knows. How important will a college degree be when a lot of students are just priced out of it?
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@mediagirl: oh yeah, we aren't really saving for college at the moment - retirement is the priority and once my husband is in a permenant position in a few years, we'll try. $600 a month is a lot of money! thank goodness for grandparents ; )
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@winniebee: YES! I know that when we were kids, my grandparents weren't in any shape to help out financially so, I'm glad M's grandparents are. Those darn wealthy baby boomers!!
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DH and I have very different views on this one. It's yet to be settled. I had my undergrad paid for and my parents would have paid for my grad school had my company not paid for it so I want to do the same. It was amazing to not have to worry about it, have my school of choice, and come out debt free. I dont think I valued the education any less cause I didn't have to 'work for it' and didn't slack off, graduating with honors. DH on the other hand worked through school and came out with a small loan ~10k so he thinks that if he can make it through and working 30+ hours to pay most of it and also graduating with honors, then our child should be able to also and want them to be responsible for their education as well. I think it will boil down to finances and how much we can afford to help.
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@PurplePumps: I think you guys have the same views as my DH and I (except I'm the one that's not sure about paying for it all). I think it will depend on my kids. If they are really responsible, then I guess I have no problem - it's just that you hear so many stories about students pissing away their first year drinking and partying. If they are going to waste money, I'd rather it wasn't mine. Maybe they'll have to pay for first year and we'll pick up the rest? I'm not sure...
We are lucky that DH doesn't have any.
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