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College

How much are anticipating on spending on your kids college? My son is 14 and I don't have any saved but I do want him to go.

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Anonymous

Asked by Anonymous at 1:37 PM on May. 20, 2009 in Teens (13-17)

Answers (13)
  • I'm expecting my children to attend college unless they can show themselves capable of getting GOOD jobs without an education. The odds of that aren't particularly high now, so I don't see it being better in the next 10-15 years.

    I'm still trying to get myself through college. I won't be paying for their education - I don't feel that teaches them anything. My mother paid for my first attempt at college, and I failed miserably. The 2nd time around, I was footing the bill with grants and my own money - and I made it work. I would rather them experience the same so that they don't take the chance for higher education for granted.
    Ginger0104

    Answer by Ginger0104 at 1:39 PM on May. 20, 2009

  • My son is going to be a year in July and we started saving while we were trying to get pregnant, we put it in a money market account then transfered to a 529 when he was born. If he doesnt want to go it can be transferred to another family member or his own child. You are starting kind of late, so I really dont know what to tell you, if you open a 529 you have to go with an"agressive "money market account, or C.D.'s(but you pay taxes on C.D.'s -not the 529.) He will probably need to take out a student load, community college costs less-another option.
    pamom222

    Answer by pamom222 at 1:47 PM on May. 20, 2009

  • I agree, there are many ways they can pay for it themselves. They will take more pride in it and do better. I also failed the first time when my parents paid for it.
    dillonsma

    Answer by dillonsma at 1:49 PM on May. 20, 2009

  • $0. My 18yo is going in to the Air National Guard to pay for school and my 17yo is going to college with sports and academic scholarships. If they need any money they will take out small loans. Their oldest brother went to school his on academic and sports scholarships and their other other older brother joined the Army National Guard to go to college so they are following the same paths.

    Anonymous

    Answer by Anonymous at 4:28 PM on May. 20, 2009

  • Im not going to pay for it. I have to pay for my own school and i already dont have the money for that so my kids can pay for their school just like i am. And just like my SO did. If they are having a hard time with it i might help them out with books or supplys that they need but other than that nope join the military like i tryed to do and like their dad did.
    Shelii

    Answer by Shelii at 5:01 PM on May. 20, 2009

  • We plan to pay half while our kids pay the other half....IN CASH!

    We will NOT have any part in student loans as it took us YEARS to pay them off and we aren't even using our degrees!

    But honestly, I really hope my girls just want to me a wife and mommy like me!
    fluud7

    Answer by fluud7 at 9:19 PM on May. 20, 2009

  • NOTHING, just like my parents did. I have my college to pay off and he is smart enough to get scholarships and such. There is no law that says a parent has to pay for college and I think kids appreciate the education more when they have to pay for it themselves. I may help him as best as I can but he is pretty much on his own.
    tyfry7496

    Answer by tyfry7496 at 10:02 PM on May. 20, 2009

  • my daughter received $7,000 in scholarships. She will use that and loans to pay her own way through the collage of her choice. What bugs me is when rich kids, get their education completely paid for with scholarships....I feel there should be income guidlines for receiving that free, donated money.
    Anonymous

    Answer by Anonymous at 12:41 AM on May. 21, 2009

  • We have decided we will help pay on loans as long as they stay in school and what not. We also decided we would help with loans after they are done with school but with certain restrictions and limitations.
    TheFriskyKitty

    Answer by TheFriskyKitty at 11:04 AM on May. 21, 2009

  • My daughter will graduate high school as a college sophmore. We expect her to do a year of community service before college, either through CityYear or Americorps; in addition to being a great education and helping her mature, she will get some money for college. She is currently finishing up her second year (8th grade) of a six year high school program; the school's graduates receive the most scholarships in Chicago. We will have enough money saved for at least one year of college (guesstimating $40,000 a year); so she will need scholarships and loans for around $60,000.
    rkoloms

    Answer by rkoloms at 11:36 AM on May. 21, 2009

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