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How do you plan on saving for your child's college education?

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Saving for your child's college education can be tough but it doesn't have to be with the Gerber Life College Plan. We asked our CafeMom members to discuss the benefits in enrolling in the Gerber Life plan and then we gave them a donation to be used for their child's college plan! 

Tell us about your kids. How do you plan on saving for your child's college education?

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by on Oct. 11, 2012 at 3:29 PM
Replies (101-110):
by on Dec. 1, 2012 at 5:49 PM

I don't.  I teach them how to save for college.  In my experience, most kids who don't have to pay for their education take it for granted.  The ones who work hard on their degree are the ones who are responsible for paying for that education.

This is not to say I won't help.  I help my son pay for his books if he needs it.  I would help pay for the rest if he could show me his financial aid award and how much is left to be paid.  But, he could never produce that....  (My oldest is a senior in college.)

by on Dec. 2, 2012 at 12:29 AM
We have savings accounts for each of them.
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by on Dec. 3, 2012 at 3:44 PM

we started a 529 savings account and have asked grandparents and family to contribute to it as gifts to the kiddo instead of silly, expensive toys that she doesn't even like (she likes the dumb box the toys come in better).  It doesn't seem like much, but $20-$50 bucks at at time adds up quickly!  We of course also contribute to it, and already have it up to a few thousand dollars in just a year.  That's a heck of a good start I think!

by on Dec. 3, 2012 at 5:05 PM

We have some money from DH's veteran benefits!

by on Dec. 3, 2012 at 9:12 PM

Thanks to the business I just got into, I can put away extra money for college funds! That's how I plan to do it!

by on Dec. 4, 2012 at 12:45 PM

My name is Evelyn and I have a handsome 9yr old who is currently in the 4th grade. Since education is very important to me and I know how expensive college and higher learning can be, I opened up his savings account since he was about a year old and have set up automatic weekly deposits into his account. I've opened up a seperate CD account for him as well that also gets an automatic weekly deposit. If you ask me, my son is much wealthier than I am. 

The best ways to start saving for your children's education is by depositing or investing in their educational fund - a savings account that you start for your child. Every cent or dollar you deposit or invest will grow more than you would ever imagine. It will go a long way just as long as you stay dedicated to making those deposits/investments. 

The outcome is promising when one day you have your own son or daughter as a doctor or lawyer or whatever it is your child had long dreamed to become. 

It's the investment with a life-long purpose.

by on Dec. 5, 2012 at 7:46 AM

Hm. Being a college student working towards a BA and paying my own way is what has caused me to want to help my children because I personally know what it's like. I'm not saying il pay for everything but I feel the need to at least help with some things.

Quoting bamababe1975:

 We aren't. My husband and I both got our Bachelor's Degrees on our own dime as we worked our way through school, so we expect our kids to do the same.

by on Dec. 7, 2012 at 8:24 AM

We have a 529.


by on Dec. 7, 2012 at 2:30 PM
How exactly do you start a plan? I really like that she can use it for something else, like a down payment on a house, if she wants.
My daughter is 10 months old and I would like to start this ASAP. Thank you in advance! &Your babies are beautiful!

Quoting MommyAddie:

 We actually have the Gerber Life College plans for two of our kids and are going to add another for the baby next month.  The girls have had the Gerber Grow-up for Life plans since they were babies because I wanted them to always have access to life insurance, no matter what the future held for their health, and it will always be $6 a month for them.  We started the College plans so that they won't cash out their life insurance policies for college money.  My parents always told me to go to college, but they didn't save a dime for me, nor did they teach me how to save.  I did, eventually, go to college in my early 30's but it would've been so much easier ten years earlier and now I'm looking at repaying my student loans until I'm 45.  I just want my kids to feel prepared to go to school right away.  The Gerber Life College plan makes sense for us becuase we pay a premium, so to us its just another bill.  Once the policy matures, there is a guarenteed cash pay out that will equal more than the total amount of paid premiums.  I like that the kids can use it for something other than college, too.  There is a good chance their grandmother will pay for college, so they could use their payout as a down payment on a house or something. I love the Gerber Life plans.  This is a guarenteed way for me to do something significant for their futures. 

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by on Dec. 7, 2012 at 10:58 PM

Life insurance is not the same as college savings.  Yes you can use the cash benefits to pay for college, but you have to pay those back into the policy or the insurance coverage will not be there when it's needed.

I wouldn't do it.  Federal student loans are so much easier.

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