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Moms with Adult Kids Moms with Adult Kids

Has anyone's kid had success using crowd funding to help pay for college?

by on May. 5, 2013 at 10:24 AM
Replies (31-34):
suzeebloch
by Ronna on May. 6, 2013 at 7:01 AM

Well, it helps that I'm a workaholic. lol.  I was forced to become frugal, and so was he! $1000+ a month the last 2 years - a lot of $$ for me but next to nothing for him!  I don't have to send him $$ now and so I splurge a bit more on things and now being frugal is fun - I look at it as a challenge to continue to find ways to save $$.

Quoting Maddie24:

Wow - That had to have been difficult to achieve.  Good for you!  My girls had Mom funded higher education too, but they were in-state.  I could have never made it with out-of-state expenses.  I know you are proud of him!   

Quoting suzeebloch:

lol.  Okay yes welcome to our group.  For a minute I thought maybe you didn't realize I was making a joke.  I do wish you well in your attempts to raise funds for your daughter's college expenses though! 

I'm a single mom. My son moved 1800 miles away for college but had saved up $$ from a part-time job in high school and went to a local community college out there for 2 years.  The first year's tuition for him of course was out-of-state as he had just moved, but at the community college level a lot less expensive and he pretty much funded that himself - I was sending him $$ to cover his rent and food, etc.  the 2nd year he was considered a resident and his education expenses were hardly anything.  At the University level, however, even though he had resided there 2 years, it was determined by the Univ that he was still a Nonresident since I claimed him as a dependent and wasn't a resident of that state and they tacked on a $22000 per year "out-of-state fee".  I cashed out a couple of IRAs to fund his junior year, and then Grandma did the same for his senior year. His student loans, grants and scholarships offset the $22000 by some $7000 both years.  I figured how far is my $15000 going to go when I retire? lol.  It was a no brainer for me to cash it out to pay the "out-of-state" fee for him to finish his schooling.  I still sent him $$ each month for rent, food, etc.  It was a tough road but I did it!  he graduated and then landed an internship right off the bat which turned into a job! 


Quoting momwholeansin:


Yes, I do. And I should have said "thank you for the welcome"

Quoting suzeebloch:

you do understand what I meant by "momfunding,"  right?  lol.


Quoting momwholeansin:


Thank you!

Quoting suzeebloch:

I had not heard of this until just now. 

My son had success using "momfunding" to help pay his expenses while he was in college.  He started out getting $500 a month but that amount increased over the four years he was in college and, towards the end, he was getting about $1000 a month.  But he graduated and got a job and no longer needs "momfunding" 

lol

And welcome to our group!!!









 



bertie4
by Member on May. 6, 2013 at 7:53 AM

Never heard of it.

hugss
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by on May. 6, 2013 at 8:50 AM

Thank you :)

Quoting momwholeansin:


http://www.rockethub.com/projects/23386-send-a-kid-to-college

Quoting hugss:

Not heard of it :)




DesignGirl450
by Lynda on May. 6, 2013 at 11:45 AM

This is an interesting concept, but I also would be hesitant to just give money to a stranger due to prior scams I have heard of.  I wonder if this young woman got any money.   Lots of folks out there will send money to anything/anyone they hear about. 

Quoting suzeebloch:

I actually agree with you here.  I'd be hesitant to give $$ to someone I didn't know.  I've heard of people mis-representing themselves before, faking illnesses, etc..  I am NOT saying momwholeansin is misrepresenting anything ...


Quoting atlmom2:

No, and I would not give random money out.


Quoting momwholeansin:

http://www.rockethub.com/projects/23386-send-a-kid-to-college



Quoting atlmom2:

Have no idea? What is it?








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