Did you start a college fund for your child?

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primadonna

Asked by primadonna at 2:13 PM on Jun. 18, 2008 in Teens (13-17)

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Answers (11)
  • Yes she has a trust account, Vanguard 529 College Savings Plan, College savings account started by both of her grandparents....and some savings bonds....
    mybeautifullife

    Answer by mybeautifullife at 2:24 PM on Jun. 18, 2008

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  • I put away $5 a week into my son's own savings account. It's meager, but it's better than nothing. I also work for Cornell Universtiy, so my son will be able to attend for 1/3 of the cost or use that same amount toward any school in the state.
    elwalters77

    Answer by elwalters77 at 2:31 PM on Jun. 18, 2008

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  • Yes we do. We go through Upromise and also put money away every month.
    Tyredensmom

    Answer by Tyredensmom at 2:34 PM on Jun. 18, 2008

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  • No, but I am hoping to start some soon.
    acolson3

    Answer by acolson3 at 2:35 PM on Jun. 18, 2008

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  • yes i put 50$ away a month since he was a year old not much but hopefully it will help
    youngmum1234

    Answer by youngmum1234 at 2:45 PM on Jun. 18, 2008

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  • We haven't started a savings account for out daughter yet, but are planning on it. Although we won't be able to put much aside, we are thinking about maybe 15-20 per paycheck. Its not a lot, but its the best we can do.
    HLJones13

    Answer by HLJones13 at 7:05 PM on Jun. 18, 2008

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  • Yes, yes, and yes. We have an high interest yielding account set up that is designated for his college fund. We put money into it throughout the year and then again at year end. Any cash gifts he has received go there. He has some CD's set up by one set grandparents. The other set of grandparents give him a savings bond twice a year that we are designating for college and living expenses during that time.
    luvnshawn

    Answer by luvnshawn at 1:09 AM on Jun. 19, 2008

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  • we have a savings account and stuff, BUT college costs SOOOOO much and i have three boys, so i'm thinking scholarships? LMAO!!
    dannersmell

    Answer by dannersmell at 2:52 AM on Jun. 19, 2008

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  • We didn't and looking back I sooo wish we had...even if it is only a little bit each month it is better than nothing. I never thought we could afford to when we were younger...that was stupid thinking. PLEASE do it now. From what I can tell, a 529 looks like a pretty good deal, I'm not an expert but it looks good too me. At least you will have a start and in the long run you really won't miss that $20 or $50 a month if you do it before you ever even see it. That being said, money experts also say to fund your retirement before you fund your kids college, you can't get scholarships for retirement. I know when you are young it seems as though there is never enough money to do it all but when you look back 25 years later you wonder what you did with some of it...
    Anonymous

    Answer by Anonymous at 7:29 PM on Jun. 19, 2008

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  • I do for my two youngest daughters, but my oldest is starting college this year and she started doing my work at home business part time this last January and has already paid for her first year at ULAR.
    cashmakingmama

    Answer by cashmakingmama at 2:39 PM on Jul. 19, 2008

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