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Elementary School Kids Elementary School Kids

saving For College:: what's your plan?

Posted by on Feb. 23, 2013 at 9:58 AM
  • 35 Replies
Are you thinking ahead to college? Do you have a plan in place? If you have kids who have gone to college, how was it paid for?

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by on Feb. 23, 2013 at 9:58 AM
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steelcrazy
by Emerald Member on Feb. 23, 2013 at 10:03 AM
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I am focusing on saving for retirement, that is my #1 priority at the moment.  You can get loans, grants, and scholarships to pay for college, but none of that is available for retirement.  So if you don't currently have a retirement savings that you are contributing to on a regular basis, I'd suggest starting there first.

calsmom62
by on Feb. 23, 2013 at 10:05 AM
Our ds and dd have been through college, and it was paid through a combo of cash, loans and academic merit scholarships. They and we ended up with little debt over it. The younger kids will be in college when we are in our late fifties ....and college is rising in cost every year. We have money set aside but it won't be the estimated 120000 to 160000 estimated for a 4yr degree at a state or private college, they also know they need to work towards it and take responsibility. but its a lot of money.....I'm interested in hearing how you are planning or preparing....
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calsmom62
by on Feb. 23, 2013 at 10:07 AM
Good advice. We also are focusing on retirement..and we won't dip into that to pay for school.


Quoting steelcrazy:

I am focusing on saving for retirement, that is my #1 priority at the moment.  You can get loans, grants, and scholarships to pay for college, but none of that is available for retirement.  So if you don't currently have a retirement savings that you are contributing to on a regular basis, I'd suggest starting there first.


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MistyMoo
by Bronze Member on Feb. 23, 2013 at 10:08 AM
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Well, my son is autistic and he gets disability, so we put that aside for his education, shoul he choose to go. I don't want to limit him just beause of his condition, he's a smart kid despite that.
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calsmom62
by on Feb. 23, 2013 at 10:10 AM
Thats wise of you to out away his money like that. Wish more people whose children received benefits would or could plan for their future.
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MistyMoo
by Bronze Member on Feb. 23, 2013 at 10:11 AM
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Someone has to look out for him :)

Quoting calsmom62:

Thats wise of you to out away his money like that. Wish more people whose children received benefits would or could plan for their future.
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steelcrazy
by Emerald Member on Feb. 23, 2013 at 10:14 AM
1 mom liked this

So glad to hear that you are aware of this.  I am shocked at how many people aren't and put college savings before retirement.

If I ever get a full time job (been looking for awhile), then we'll start college savings for the kids.

Quoting calsmom62:

Good advice. We also are focusing on retirement..and we won't dip into that to pay for school.


Quoting steelcrazy:

I am focusing on saving for retirement, that is my #1 priority at the moment.  You can get loans, grants, and scholarships to pay for college, but none of that is available for retirement.  So if you don't currently have a retirement savings that you are contributing to on a regular basis, I'd suggest starting there first.



calsmom62
by on Feb. 23, 2013 at 10:15 AM
I work in a company that provides adult autism services. Sometimes parents are myopic about their kids needs in the future...
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calsmom62
by on Feb. 23, 2013 at 10:17 AM
I have encouraged our younger two to think about developing marketable skills so that they can earn a living while going to school.....


Quoting steelcrazy:

So glad to hear that you are aware of this.  I am shocked at how many people aren't and put college savings before retirement.

If I ever get a full time job (been looking for awhile), then we'll start college savings for the kids.

Quoting calsmom62:

Good advice. We also are focusing on retirement..and we won't dip into that to pay for school.





Quoting steelcrazy:

I am focusing on saving for retirement, that is my #1 priority at the moment.  You can get loans, grants, and scholarships to pay for college, but none of that is available for retirement.  So if you don't currently have a retirement savings that you are contributing to on a regular basis, I'd suggest starting there first.





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mckinneymom918
by Bronze Member on Feb. 23, 2013 at 10:20 AM
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We do max my husbands 401k each year. I don't work. And we put $5-$7k split between the 3 kids funds each year as well- based on how much time until graduation. What we save will pay for a lot if they choose to stay in state and close, but there will be some they will be responsible for.
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