Paying for college?

iVillage Member
Registered: 03-26-2003
Paying for college?
16
Sun, 07-23-2006 - 5:17pm

Curious after reading the spending thread?

What are your plans financing your childs college or, if you are already there, what are you doing?

I'd also like to know how YOUR college education was funded IF you did indeed attend

I worked summers and Xmas/spring vacation and also my senior year when I only attended 1/2 day but I know now that my parents still had to be footing a big chunk. DH did the same without the senior year thing but DID work in the dorm cafeteria. He now reluctantly admits that his parents and grandmother must have paid more than he realized at the time

We feel that, as long as we are able, we will pay for the kids college.

I really dont want my kids stuck with loans-Ive heard several negative experiences in that arena

We do insist on state schools, however, unless they wish to find a way to make up the difference

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iVillage Member
Registered: 02-14-2000
Mon, 07-24-2006 - 10:49pm

Jason just completed his freshman year of college.

Pam
Avatar for mjaye2002
iVillage Member
Registered: 03-26-2003
Tue, 07-25-2006 - 1:45pm

I (and my ds') are very, very lucky in that their g-mom (my mom) was wise enough to channel all of her assets before she passed away into a trust fund for her grandkids. It was extremely important to her that they all go to college. So, with that money, my kids' college is paid for. That being said, I do expect them to work part-time while at college for spending money, gas, and various sundry bills.

For myself, my mom paid for my college also. I went (sorta) the 1st year out of hs and just hated it. Ended up dropping out that 2nd semester. Went to work full time and did that until I was 27. I asked my mom if my college fund was still available and she said it was. I went back to college and continued to work full time, up until my last semester. I needed 21 hours to graduate that Dec, so I asked mom if there was enough money left to support me from Sept to Dec (no way could I work f/t and take 21 hours). I worked on weekends during that semester and graduated that Dec., the month after I turned 30.

iVillage Member
Registered: 05-01-2003
Tue, 07-25-2006 - 10:41pm

My parents paid for my college education, as well as my sister's. There were only two of us and it worked out well. They were extremely proactive about it, starting when we were born. They placed an extremely high value on education and that came through in their proactivity.

My husband and I are saving for our two sons. We have a 529 for both of them, and I am looking for work to add to it. My older son will be a freshman in high school this year and the younger one will be a 7th grader. By the time the older one graduates from high school, we hope to have the equivalent of 1 year in private school set aside in the 529. That is if nothing changes. Hopefully, my working will help bring more in. If not, we'll take out loans; and have the boys help pay them back.

iVillage Member
Registered: 11-29-2005
Wed, 07-26-2006 - 2:31pm

This is a very interesting topic. I paid for my own college, neither of my parents went to college and frankly I didn't get along with my dad anyway so I was all too happy to not ask and he happy to not give.


My exDH and his parents have ZERO intentions of funding college for the boys. My exDH can barely take care of a houseplant and my exILs didn't pay for their own 5 kids so I doubt there is a kitty for the grandkids.


My current DH's parents paid for all three of their kids to go through college. This on a teacher's salary I might add. My DH feels very strongly that we pay full expenses for the boys to go to college. I used to think I would only pay some expenses because of the benefit of "owning" your education but now I don't see it that way. I am bending on my thinking.


We have agreed, so far, to fund tuition, books and supplies, housing (only dorm or frat NOT keg houses) and food. If grades slip below 2.5

iVillage Member
Registered: 05-01-2003
Wed, 07-26-2006 - 4:21pm
There are a lot of people who feel that if a child does not partially pay their way through college that they don't appreciate it, etc. I strongly disagree, because, as I said before they paid for ours. We did not goof off, we both did well (i graduated with a 3.2 and my sister a bit higher), and I am so grateful my parents had enough forsight and planned well. They were both very well educated too so I am sure was a factor. It is all in how you bring up your kids, I feel. Kids who have been brought up to appreciate what their parents do for them are kids who will appreciate college being paid for.
iVillage Member
Registered: 05-26-2006
Thu, 07-27-2006 - 3:12pm

I'm in university right now. My parents are not together (since i was 3) but anyway, they each pay 1/3 and I pay the other 1/3. It comes to about 5,000$ each.

Mom - covers tuition
dad - rent
me - everything else: food, books, swim club, transportation, entertainment.

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