Why pay for kids college?

[ctom87]

I plan on partially funding my child's educational the reason is simple. My parents funded mine as best they could, which was about $4,000 and got me partially through my 1st year.

I ended up graduating with debt about the size of a car loan. The salary at my first entry level job at Bell Helicopter matched the most money my dad ever made in a year working six 10-hour days.

I didn't grow up in poverty, but it definitely was lower middle class. I was able to pay off my loan in 2 years working a 2nd job.

I say all this because I have concluded that life is worth living, and starting life in debt prohibits that. The best thing I can do my son is help he start living a good life as soon as he can. If he comes out of school that cost $50k a year and only had $100,000 in scholarships, then it will be a while before he isn't burdened with debt.

Like others have said, he has to put in work and he needs to be a good kid. If he can do that, I can help.

[jshouse]

We were pleased to have given our boys a college education. I'm thankful we could. I'm also thankful that they didn't go somewhere really expensive! My boss's daughter went to Carnegie Melon. She said she would have $250K in debt when she graduates. Not sure about that.

melon? the high diver? i think you meant thornton melon.

[js4242]

The piece of paper gives you options. That's what I tell my kids. Without it, the options are hard to find or take longer to uncover if trying to work for a corporation. I also tell my kids if they don't want to go to school then don't. Come up with a sound business plan and I will be your first investor. Get scholarships, I will give you 50% of the savings so you can invest it and start saving before you start working. Lots of options out there for everyone, but I can't thank my parents enough for helping me start life debt free and I'll do that same..

[Ætheling]

I dont think anyone is obligated but you cant compare the cost of college in 2002 to when your kids will be ready. No kid can afford college currently on their own without scholarships or assistance except in hyperbolic examples it is not affordable. Books, boarding/rent, groceries, cost of living bills, tuition, fees.........Its loans or join the military. Or just vote democrat and get your loans excused haha.

My kids will get their college paid for because of my military service and that I enlisted in the State of Texas.

[kp143631]

Funding (2) 529 accounts to give my kids a fighting chance.

I'm doing the exact same. May not cover it all but it will help.

[Big Lee]

I find it odd... not one post requiring kids to have skin in the game. Or hold them accountable for applying for scholarships.

[El General]

I find it odd... not one post requiring kids to have skin in the game. Or hold them accountable for applying for scholarships.

I find it odd that you didn't read any of the posts.

[js4242]

I find it odd... not one post requiring kids to have skin in the game. Or hold them accountable for applying for scholarships.

Are we reading the same thread?

[Big Lee]

Are we reading the same thread?

To be honest. I've skimmed past the 2nd page. Lol

[Dale Moser]

How much is a good amount to save for a kids tuition? We save some every month and I plan to pay for my children’s college if they want to go. I do think college is overrated and will not require them go if they don’t see fit and can use the money on real estate investments or any other investments if they would like.

Real estate investments, and other investments, are big reasons I want him to go to college. I'd like him to learn and understand finance at a higher level than I do, and at a younger age. That's what I regret most about not going to college any more than I did...I'd like to understand that stuff at a higher level, but don't have the patience for it anymore.

[donpablo]

If you're gonna pay for your kid's college then make them take all the dual credit classes possible. Then (unless they get accepted into some ivy league school or are offered an exceptional scholarship at a specific university) make them go to a school that accepts the credits they earned. If they choose a different school, they should be willing to pay for the other 2 years of schooling. At least that's what I would do in that situation.

If they can't pass the dual classes, they may struggle to be successful at a university.

[Still Hunter]

Kids need a skin in the game to appreciate it, to be focused and to be 100% committed.
One of my greatest regrets was saving for all three children's college.

[Ætheling]

https://www.collegecalc.org/colleges/texas/sam-houston-state-university/

Here is a cool website that calculates total estimated costs. 98K for a bachelors at SHSU. Pretty eye opening to look at all the costs. Not all kids have the intelligence to work many hours and still do well in school either. If you have a kid that struggles in school and is going to start their life with that kind of debt they are going to need to get an Accounting, Engineering or Economics degree lol.

[TA_Fab]

My thinking is same as you OP. My parents had the means to help and I did have that safety net, but I worked through school and payed my way. I’ll take the same approach assuming they even go to college (hopefully trade school). No reason someone can’t put themselves through school.


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[TheHammer]

Real estate investments, and other investments, are big reasons I want him to go to college. I'd like him to learn and understand finance at a higher level than I do, and at a younger age. That's what I regret most about not going to college any more than I did...I'd like to understand that stuff at a higher level, but don't have the patience for it anymore.

I’m my experience I’ve learned more from first hand experience on business investments across the board than I ever did at college. I didn’t take many financial courses, so you may be right, but I enjoy learning from the people that have done/ or are currently doing it.