College Fund Amount? Is College Needed for the Next Generation? POLL 2020!
Started by quickpic007
This thread is pointless because the United States will experience an economic collapse and the government as we know it will cease to exist. Invest in guns, ammo and provisions.
TateThePharmacist
Full Member
I plan to pay for my children's bachelor degrees at a state school (most likely 2 years at cc then the other 2 at university) in a field that would be a good field to get into (not paying for my children to get a degree in photography). If they get scholarships or wanna take out student loans to go elsewhere or get a worthless degree, then I won't fight them on that. As for grad programs.....I guess that will depend on my finances and the job market and necessity at the time (I got quite a few years until I have to make those decisions).
Out of curiosity, how is everyone else saving for their children's college? 529? Regular investment fund? Gonna get a second mortgage? Borrow against your 401K? Under a mattress?
Out of curiosity, how is everyone else saving for their children's college? 529? Regular investment fund? Gonna get a second mortgage? Borrow against your 401K? Under a mattress?
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I have a 529, currently putting in $350/mo. No idea if that is enough for a state school.
It seems like purchasing a home for our kid during the 4 years would be a better investment than renting in the dorms.
Wife and I paid for the majority of college and grad school ourselves and we turned out fine.
It seems like purchasing a home for our kid during the 4 years would be a better investment than renting in the dorms.
Wife and I paid for the majority of college and grad school ourselves and we turned out fine.
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We're destined to have another generation of upper middle class kids born on second base and thought they hit a double.
As is tradition.
Ideally, I'd say $0. Make all of them nationwide earn it themselves.
But then it's all "Blah blah blah, you don't even have kids, Mikey, STFU, blah blah blah, my little Evan is special, blah blah blah, you're gong to die alone and I'll laugh, blah blah blah."
So, whatever, waste your money on some unappreciative brats college funds. See what I care.
As is tradition.
Ideally, I'd say $0. Make all of them nationwide earn it themselves.
But then it's all "Blah blah blah, you don't even have kids, Mikey, STFU, blah blah blah, my little Evan is special, blah blah blah, you're gong to die alone and I'll laugh, blah blah blah."
So, whatever, waste your money on some unappreciative brats college funds. See what I care.
So, you are the one voted 0.
Did your parents pay for any of your college?
I for one shall dutifully continue the in-family generational wealth transfers to further perpetuate the existing systemic wealth biases seen in the US. College being one of those conduits.
It’s a combo of 529 account and a normal brokerage account for flexibility, all in my name, when possible. The fewer assets in the child’s name, the better image projected for financial aid. Don’t want to deal with it so it is being robo-advises at this time with a 15 year timeline.
It’s a combo of 529 account and a normal brokerage account for flexibility, all in my name, when possible. The fewer assets in the child’s name, the better image projected for financial aid. Don’t want to deal with it so it is being robo-advises at this time with a 15 year timeline.
Probably just enough to cover undergrad at a state school. If they choose to go into medicine or another high demand, high prestige field then I might consider helping more. If they choose an expensive private school then they will have to pay the difference in cost. If they choose to go to pharmacy school then they are on their own.
Pfft, right. My stepdad smoked crack. So pretty much all of any hypothetical money my family would have had went to the pipe.
But I got a two year full ride scholarship to my local community college, WVU-Parkersburg. Then I went to WVU Pharmacy on in-state tuition and paid for it with loans. So all and all, I didn't do too bad.
TateThePharmacist
Full Member
No, the real reason to have kids is because the more kids you have, the more likely it is that one of them will make it big in Hollywood, then you can ride their golden ticket with them!
But seriously, I completely get your point and I've had the same thought many times. I'm a white male who came from lower middle class, so essentially that means that I didn't qualify for scholarships or financial aid but my parents couldn't afford to help out at all. So I almost want to make my kids pay for everything themselves since I had to. But at the same time, I want to provide a better life for them than I had and I think providing a better life outweighs my desire for them to build themselves from the ground up like I had to. Kinda hard to balance teaching them hard work, while also providing so much for them. Having a hard time deciding all that right now, but they're really young so I'm not really to the point of having to teach that just yet.
This is actually one of the main reasons I've actually decided to pay for their college. It really sounds messed up when you put it that way though lol. But I mean, it's been happening for thousands of generations. Plus I mean, maybe you'll give your child a significant inheritance/loan and they'll go on to be a real estate tycoon. Then they'll have their own reality show and eventually become president! Kinda crazy to think what can become of your future generations if you set them up financially.
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