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How are you going to pay for college?

Posted by on Jun. 21, 2009 at 11:04 AM
  • 22 Replies
I am just trying to plan ahead for my teen's upcoming college tuition in
about three years. Of course, I hope he can get scholarships, but I was
just wondering, has anyone saved up enough money for your children's
college tuition? It's expensive!
by on Jun. 21, 2009 at 11:04 AM
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Replies (1-10):
by Gold Member on Jun. 22, 2009 at 6:56 AM

no we didnt save nearly enough.It was feed and cloth them OR save for college. My oldest went to state school that was affordable.$13,000. we took loans and paid them back.No way we could have sent 2nd son to the college he attends.It's 54,000 for 5 yrs !! Luckily he is on  a fullride !!

by Shauna on Jun. 22, 2009 at 8:53 AM

No we don't have college savings. We are hoping for scholarships and going to apply for grants and loans. Our dd wants to go to Penn State that is a bit more affordable than say Gettysburg College.

by on Jun. 22, 2009 at 9:18 AM

 We are just hoping for scholarships.

by on Jun. 22, 2009 at 10:04 AM

We only have to worry about one tuition. Our daughter will be starting 9th grade in the fall, and is in a six year high school program and will graduate high school as a college sophmore, saving us one year of tuition. The average scholarship for 2009 graduates was $28,000, which should cover at least one year.

Her participation in the city science fair will get her at least a $2,500 scholarship for a state university. We will have enough money saved for at least one year of college.

The rest will be loans and whatever scholarships we can find though FastWeb, religious organizations, community organizations, etc.

Robin in Chicago

by on Jun. 22, 2009 at 11:39 AM
Thanks for sharing! Our state has the Millennium scholarship for kids who
receive a good enough GPA. Hopefully he will receive that, but the rest,
I guess I'll be hunting down scholarships and grants too.

by on Jun. 22, 2009 at 4:14 PM

Unfortunately, no we don't have any college savings.  My oldest daughter is starting college this fall.  

I agree with the one that posted that it was either "feed & cloth them" or "save for college".  It's really hard... I have 3 kids all with high aspirations.  My oldest daughter wants to be a photographer and open her own studio one day.  It's her that we have to try to put through college.  My other two wants to be a Musician and a forensic scientist/gun specialist.  

My daughter has been accepted to Columbus State Univ in Georgia.  However, they are still not cheap on tuition and such.  Unfortunately, as many scholarships as she has applied and tried for, so far, NOTHING!!  We are still hoping.  But, even scholarships are not easy to win.  Definitely, encourage your kids to do their absolute best in school as this affects whether they will receive any scholarships at all.   My daughter had decent grades but nothing spectacular. It's unfortunate that she has not received any scholarships yet..... 

Finanacial aid is only going to help so much.  Loans will definitely play a part of her college education.   And, loans she will be paying back for years to come.

My (married) bestfriend who is 34 just got through paying off her college loans and she graduated at the age of 22.  She paid loans for 12 years after college.   Thank goodness, she didn't have any kids, otherwise, I'm sure it would have taken her that much longer. 

Education is definitely worth it!!!   But, as a parent, I wish now, I had tried to start a college fund just after they were born.  Maybe, then, I wouldn't have to struggle so hard trying to put my kids through college.    I don't know if my answer helped at all.  But, so far this is my experience........

Good luck! 

by on Jun. 22, 2009 at 4:25 PM

We had a pretty decent savings til my husband lost his job. It goes quick when that happens. So for us (my son is now a sophomore in college) we took out loans for his freshman year. He was also awarded some grants that covered tuition and books. The remainder came via loans that we are now paying for that basically pays for housing and a meal program.  This coming school year he is living off campus in a townhouse and we'll be paying month to month for that. The cost from dorm living to off campus is significant so we're really happy about this new arrangement. The money we need for tuition will come from more grants he was awarded. No loans needed.

I don't know what we'll do when my other 2 kids go off to college. One said they want to go to community college for 2 years then go away for 2 so we'll see. I don't want to tap into our 401 k's

Push for scholarships!!! There are tons out there. I wish I had...

by on Jun. 22, 2009 at 7:41 PM

My mother is against it, but I told her to bite me. She might, but at any rate we are planning on sending ours to a program once in hi school, to a community college where she will get her 2 year degree and her hi school diploma for free. After that? She has 2 years to a regular college and finish what ever she wants to do. I like free. Its for me. We have some money saved in a state program but we just do not have the money to continue to feeding into it. With this economy we are lucky to keep our heads above water.

by on Jun. 23, 2009 at 11:33 AM
Thanks for your reply, but I'm not sure I understand. What is it that your mother
is against? She doesn't want you to pay for their college or she does and
you don't have enough money? Can you explain? Thanks.
by on Jun. 23, 2009 at 12:12 PM

My boys will be 9th & 11th next year.  No college fund in sight.  My oldest already has 1 scholarship for $750 that he received last year, we are already looking on the web for more that he will be able to get into next year.  I just keep pushing the grades and telling them not to fart around with them.  There is also vocational schools around here that if nothing else they can attend and learn a trade something like electrical or heat/air, at least with that they will hopefully be able to find a job, as jobs are pretty sparse these days.  My youngest is still convinced that he is going to college on Football scholarships and that he is going to be drafted to the NFL.  I'm trying not to hold my breath, just trying to supportive, took him to football camp last week to Texas Tech.

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