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Mom Confessions Mom Confessions

I dont have a college fund for my child and will NOT be getting one

Anonymous
Posted by Anonymous
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I don't  understand why when someone talks about bills, they always say 'well do you have a college fund set up' as if its some mandatory expense like a mortgage or electric.


We are not low income. We are not rich, but we are well off. 

I absolutely can afford to have a college fund set up for my child. 

But i refuse to do so. 

my daughter is 15. and she understands and agrees with me. 



See...I don't believe in just handing everything over to my child. especially once she is an adult. 

next year she will be buying her own car. she is already saving up for it. and will be getting a job as soon as she reaches the legal age limit for work. *this summer* 

when she decides on college, she will be the one to work for it. 

Life doesn't just hand you everything. Anything you have and get, you have to WORK for. and to me that includes your college education. 

She can apply for a loan, grants, or get a job and work her way through college. 


So...please bash away :) 


Posted by Anonymous on Mar. 16, 2013 at 3:18 PM
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Replies (1-10):
banana-bear
by on Mar. 16, 2013 at 3:19 PM
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Whatever works for your family! I prefer to offer as much help as I can, especially if my kids are responsible and work towards good grades in school.
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atyou
by on Mar. 16, 2013 at 3:20 PM
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I get it. I can see the value in that.


That being said, we want to be able to give our children the absolute very best start in their adult lives. To us, that means paying for their educations.
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FooLynRoo
by on Mar. 16, 2013 at 3:20 PM
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I don't care what you do for you kid, no bashing here.

However as someone who's had to raise and support herself since 14 years old, I see the other side of having no help in life.

So a college fund was important for me and my husband to establish even when we were struggling we always found a way to put some aside for the kid. 

Turns out he went another route with his life, but that money is still there, incase he changes his mind or when he buys a house.


Sassy762
by CAFE SASSY HBIC on Mar. 16, 2013 at 3:20 PM
3 moms liked this

Your child......Your decision

I paid for all of my kids (4 so far, still have 2 to go)  college expenses and all of my grandkids have money in a savings account that will cover all of their college expenses

Anonymous
by Anonymous 2 on Mar. 16, 2013 at 3:22 PM

My girls are 8 months old each and we started their college fund already. By the time they are 18 there should be about 100k for each of them. They can use it for a car... and apartment... college.For cars and apartments, we'll still make them pay for part of it; for college we'll probably have them do a few loans; then help them pay them off so they build their credit too.

I get the idea of not paying for kids college; but if its not paid for (at least partially) I don't think that parents should require college (not that you are). My kids are going to be required to at least start college; so I'll pay what I can. Also, sine my husband makes so much money, our kids won't be able to qualify for financial aid etc. So might as well help them out. I'd rather sacrifice to help pay for college them have them skip college to go work.

And the sacrifice isn't even that much. We still will have our house paid off, a roth IRA, 401k and personall retirement account equaling at least $1mil. Then again, we waited til our retirement had a good foundation and we had lots saved before having kids. Because we always planned to pay for it.

Dzyre1115
by Desiree` on Mar. 16, 2013 at 3:22 PM
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 I agree, we don't pay for college, my husband and I are preparing to have a comfortable retirement.  That is more important to us.

Oostera
by on Mar. 16, 2013 at 3:24 PM
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We don't have one set up yet but plan to eventually. I agree with your explaination, and that is our philosophy too, but we plan on not telling the kids we have money for them. They will work hard like the rest of us and, when that hard work pays off, we will give them the money we saved up to pay off their debt.
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Anonymous
by Anonymous 3 on Mar. 16, 2013 at 3:26 PM

It's your money and your child you can do whatever you want.

We have a college fund set up. However, my child will not know about said college fund and will be made to believe that they have to pay their way through college which i hope encourages them to apply themselves, make good grades and get scholarships. If they choose a local school, they will be allowed to live with us rent free. We haven't decided when we will give him the money. We'll probably play it by ear and see how it goes.

quickbooksworm
by Ruby Member on Mar. 16, 2013 at 3:28 PM
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I dont consider college an option so I'm OK footing the bill.
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KrissyKC
by Platinum Member on Mar. 16, 2013 at 3:29 PM

Money I saved up for their college would only BE for college.   Not to put down on a house for them, nor a car.   It's only my willingness to help with educational costs.   That is just help, too, because I share much of the OP's opinion.

Anything I DID save up for my kid, if they didnt' go to college, I would put into my retirement.   In the long run, they all would split up anything we had left as an inheritance.


Quoting FooLynRoo:

I don't care what you do for you kid, no bashing here.

However as someone who's had to raise and support herself since 14 years old, I see the other side of having no help in life.

So a college fund was important for me and my husband to establish even when we were struggling we always found a way to put some aside for the kid. 

Turns out he went another route with his life, but that money is still there, incase he changes his mind or when he buys a house.




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