I don't have kids, it's def a very good fit for myself..but here's the question to you who do. Do you feel that paying for college education is worthwhile..i run into parents who are in there 50's working 2nd job to pay for 20 yr old college costs. When you kid has a job and graduates, shouldnt they pay you back..or make life easier for you? Seems like it's just a give give give from the parents point of view...
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thanks for the feedbackComment -
I have a savings account for both of my kids that they will get when they go to college or trade school if they choose. Other than that they need to get a job/take out loans to fund the rest. Most kids who have their parents pay for school end up in school for longer than 4 years and don't value the education. I'm not paying 50k per year to raise some career students.Comment -
My parents had money set aside for both myself and my brother......but fortunately, we were both able to get Athletic Scholorships (my brother 100%, myself about 80%). Worked out pretty well for everybody. Also, my wife got a full athletic scholorship.....so we were debt free about 6 months after Graduation.Comment -
I think the mentality is changing for sure. I think it used to be that parents saved up to send their kids to college because they wanted their kids to have a better life then they did. You work so hard to raise them, you want to be able to send them to college and have a good career etc. I don't think that is as true anymore either. Not the desire - of course parents still want their kids to be better then them I think - but college isn't the only way - in fact many feel that investment isn't worth it - and in a lot of instances it isn't from a pure finance point of view.
My kids will take out loans, pay them on their own for the first year or two so they know how hard it is to live off of the low starting salary, pay rent, taxes, car, etc. AND school loans. After that we will give them whatever money we have set aside for them for college and let them figure out how to manage it but want them to understand the value of it firstComment -
Some good college plans out there..especially if you lock in a particular state - but that also means he/she would be stuck going there and not branching out.
That being said...I think I lucked out with having a girl...already doing the tumbling/dance etc classes...pipeline to scholarships are far easier for girls than boys these days but at the same time gonna pay out the arse for academy schooling vs public crap holes until she gets there so oh well.
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