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Have you been saving for a college fund for your child?

I haven't. I'm scared.

Answer Question
 
emilysmom1966

Asked by emilysmom1966 at 5:01 PM on Aug. 15, 2010 in General Parenting

Level 18 (6,228 Credits)
Answers (13)
  • Yes. We have been putting away $100 a month and will do it till they day they graduate.
    mommy_of_two388

    Answer by mommy_of_two388 at 5:02 PM on Aug. 15, 2010

  • We raised three chldren, all of whom have college educations. We were a single income family, and my husband was self--employed, which meant we paid more in taxes, insurance, rent, etc., so we were never able to save for their college years. They studied hard in high school, and they worked while they went to college. What they earned along with the scholarships they were able to earn plus what we were able to help all made it possible for them to get advanced degrees. None of them finished undergrad in 4 years, but they all did quite well in college and got good jobs when they were through. The bonus to all that was that our children truly appreciate their educations because they had to work to get them. Many of their friends who had it all handed to them didn't study very hard and didn't much care about anything but having a good time while they were there. So, I would not worry about not having a college fund.
    NannyB.

    Answer by NannyB. at 5:06 PM on Aug. 15, 2010

  • im still trying to finish my own college education. im almost done, and will have a career soon and then i will start saving. my son is only 15 months old so i have sometime.
    you should start workin on that though.
    PURPULbutterfly

    Answer by PURPULbutterfly at 5:10 PM on Aug. 15, 2010

  • Yep...and it's never too late to start saving. And, my parents didn't have a college fund for me. I went to school completely on loans. I will be paying them back for at least 10 more years.
    MommyH2

    Answer by MommyH2 at 5:12 PM on Aug. 15, 2010

  • 3 boys, and we're putting 100/week away for them...
    MrsLeftlane

    Answer by MrsLeftlane at 5:17 PM on Aug. 15, 2010

  • No I wish I could. Every time I try something comes up. I'm hopeing for what nannyb described :)
    crazymom21

    Answer by crazymom21 at 5:31 PM on Aug. 15, 2010

  • They had savings, but it was cashed in when we took a huge economic hit that included layoff and hours cut. We all sacrificed something... savings and IRA... to keep our house.
    WoodWitch

    Answer by WoodWitch at 6:01 PM on Aug. 15, 2010

  • We started accounts for them but its no neccesarily for college. They get it when they graduate, if they choose college then great but if not I'm ok with that too.
    reigndrops12689

    Answer by reigndrops12689 at 6:02 PM on Aug. 15, 2010

  • GL
    san78

    Answer by san78 at 6:05 PM on Aug. 15, 2010

  • Yes. We started one when we started trying for our son. So far, 4 years later...he has already 5,000 in it from payments made and interests. We do not want him to incur large loan debts like we did while attending college. My husband and I are still paying on student loans despite having graduated from college over 4 years ago.
    Mom2Just1

    Answer by Mom2Just1 at 8:05 PM on Aug. 15, 2010

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