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Would you pay for your kids colelge education?

  • I'd make em pay it all

    Votes: 2 3.8%
  • I'd pay for part, but they'd have to pitch in too

    Votes: 20 37.7%
  • I'd take care of it all

    Votes: 29 54.7%
  • College is for weenies and my little bastards ain't going

    Votes: 2 3.8%
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OMGWTFBBQ
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Discussion Starter #1
some comments about college funds for kids in another thread got me thinking.

If you could afford to, would you pay for your kids (if you have them, or if you did have them) college education? Some, but not all? Or would you make them pay their whole way?
 

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I was lucky enough to have my parents pay for my college education, so I'd like to do the same for my kids. They told me that a college education is their gift to me and that when they die, they're taking it all with them. 18-22 is when I needed the money anyways. I won't need it when I'm 50-60.
 
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For me, it depends on what the costs get up to by that time and on what college my child(ren) get into.

I do not want my daughter limited financially as to what schools she can apply to. I want her to go to the best school she can get in to (assuming, of course, she wants to go there), regardless of cost. So I want to save as much as possible to assist with this.

But I would probably say, based on what we had saved up, "We'll cover up to $X per year. The rest is up to you. But we'll help you line up student loans and search for any applicable and available scholarships/assistance." If she stayed under $X, we'd cover it all. But I would hope she wouldn't choose a lesser school simply to keep from incurring debt.

But this is still a long ways off.

I did not pay anything for my college education and I'd like to provide the same for my daughter.
 

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2001 M3:Stick, what else?
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I'm tracking all child expenses and will present him with the entire bill when he reaches 18! I'm up to $4000 already and it's only 2 weeks in. Don't know if he'll want college expenses tacked onto the top of the mountain! :D
 

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Vietato
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JPinTO said:
I'm tracking all child expenses and will present him with the entire bill when he reaches 18! I'm up to $4000 already and it's only 2 weeks in. Don't know if he'll want college expenses tacked onto the top of the mountain! :D
If I were you, I would be scared to find out how my money I spent on the kid up to 18. Even more scarier if you have more than one kid.
 

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JPinTO said:
I'm tracking all child expenses and will present him with the entire bill when he reaches 18! I'm up to $4000 already and it's only 2 weeks in. Don't know if he'll want college expenses tacked onto the top of the mountain! :D
LOL - I am doing the same thing.

I have an education fund through an insurance company for my son that he can use for education when he is 19. I also plan to show him the bills and my spreadsheet ... lets see if there is enough left for him to buy a #2 pencil!

Patrick
 

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I started both kids college fund (Mutual funds) when they turned a year old. I had to pay for my education and I worked two jobs to afford to, I don't wish that to be the case for my kids..I want them to be able to focus on nothing but college if they so choose to go that route. If they choose a skills level job, so be it. Either way, they'll have money available if they need it, and I won't have to worry about refinancing my house to put them thru college since they already have these mutuals (which, ironically, have lost very little money during this latest stock market dive ;) )

They will "earn" everything else they get, cars, extra toys during non-christmas or birthday events...matter of fact, my 6 yr old is 'earning' money by doing some chores to buy a "Star wars sword" that he wants really bad... :thumbup:
 

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I am a disabled Vetran, so tuition in california is free. However, I would threaten lie cheat and steal in order for them to join ROTC.'

If nothing I did could coerce them into joining ROTC, then I would pay for it all. Most of it is free anyways.
 

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Ripsnort said:
I started both kids college fund (Mutual funds) when they turned a year old. I had to pay for my education and I worked two jobs to afford to, I don't wish that to be the case for my kids..I want them to be able to focus on nothing but college if they so choose to go that route. If they choose a skills level job, so be it. Either way, they'll have money available if they need it, and I won't have to worry about refinancing my house to put them thru college since they already have these mutuals (which, ironically, have lost very little money during this latest stock market dive ;) )

They will "earn" everything else they get, cars, extra toys during non-christmas or birthday events...matter of fact, my 6 yr old is 'earning' money by doing some chores to buy a "Star wars sword" that he wants really bad... :thumbup:
Clean Dad's wheels?
 

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Kids that go to college on a free ride from the parents are 200% more likely to spend all their time partying and drop out after 2 semesters. My kids will get help from us, be we aren't paying their way.

The smartest and hardest working people seem to be the ones that paid their own way through college. Everyone should experience poverty, IMO.
 

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OMGWTFBBQ
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Discussion Starter #12
I really don't know how I want to handle things. I never finished college, only doing a couple years at a community college in CA at $5/credit (not exactly an expense that requires much planning). My wife's parents paid for her first two years and left her to pay the rest, which she did by selling stocks that her grandparents had bought for her at birth.

Part of me wants to pick up the whole cost if possible, but part of me doesn't. I suspect that we will do something similar to what my in-laws did. But I don't know. Until we decide, I think that we're going to save as if we were planning on paying for it all.
 

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OMGWTFBBQ
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Discussion Starter #14
ff said:
The smartest and hardest working people seem to be the ones that paid their own way through college. Everyone should experience poverty, IMO.
As a general rule, hardest working (which I read as best work ethics)...probably. Smartest? Not in my experience.

I agree with you on poverty, though. My first year after high school, there were times I'd walk into a grocery store with a couple dollars in my pocket not knowing if I would walk out with a loaf of bread and some cheese (so I'd know for sure that I would eat every day for the rest of the week) or a pack of cigarettes and a 40.
 

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As a general rule, hardest working (which I read as best work ethics)...probably. Smartest? Not in my experience.

I agree with you on poverty, though. My first year after high school, there were times I'd walk into a grocery store with a couple dollars in my pocket not knowing if I would walk out with a loaf of bread and some cheese (so I'd know for sure that I would eat every day for the rest of the week) or a pack of cigarettes and a 40.

I remember not eating dinner at all for many nights a week. at least in college, the 2 years I lived in the dorms, the meals were all included in the room fee. Even though the food wasn't the greatest, it didn't matter because my tummy was full.

Never did receive any help from either of my parents through college (mother didn't have any money, father was a selfish a-hole) . And when I found out that my father had all of his college paid for by his parents, I didn't like the idea that he never helped with anything. Think of all the nights I could've gone to bed on a full stomach. I've learned how not to be, from watching my father as I grew up. I wonder where that old f_cker is these days....
 

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2001 M3:Stick, what else?
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pintnight said:


If I were you, I would be scared to find out how my money I spent on the kid up to 18. Even more scarier if you have more than one kid.
I track every cent in Quicken--- what's scarier is how much I spend on cars! :yikes: :yikes:
 

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OMGWTFBBQ
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Discussion Starter #17
ff said:
I remember not eating dinner at all for many nights a week. at least in college, the 2 years I lived in the dorms, the meals were all included in the room fee. Even though the food wasn't the greatest, it didn't matter because my tummy was full.
It really teaches you something (a lot more than school itself will ever teach someone). That's part of what appeals to me about making my kid(s) foot at least part of the bill.

I've learned how not to be, from watching my father as I grew up. I wonder where that old f_cker is these days....
When I read things like this, it helps me appreciate how good I've had it with my immediate family.
 

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When I read things like this, it helps me appreciate how good I've had it with my immediate family.



Glad to hear things have been good. :thumbup:

When the family structure breaks down, there isn't much else left there. It's like you're on your own growing up. Fortunately, I dealt with it well, and still had great father figures in my uncle (he rocks) and the local, small town doctor who was by far the most generous and well educated man I've ever known. If anyone could be a mentor and father figure without being "preachy", he was it. You can always count on the good people in your family as well as close friends to step in and do what they can.

Well, this is starting to look like a sob story, which it isn't. The moral of the story is, use everything as an experience to learn something. I like to think I did, and because of it am doing everything I can to make the most of my family, who I cherish more than anything on earth.
 
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