10-03-2008, 06:08 PM | #1 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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Have any of you set up an educational fund for your kid(s)?
Perhaps a more effective way of saving money is just deciding you will only pay for a state school, BYU, or no school at all.
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10-03-2008, 06:58 PM | #2 |
Senior Member
Join Date: Oct 2007
Location: Orange County, CA
Posts: 9,483
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Yep.
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10-03-2008, 07:04 PM | #3 |
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Join Date: Jan 2006
Location: Clinton Township, MI
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I did.... its easy and I get tax credits in Michigan dollar for dollar.
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10-03-2008, 07:06 PM | #4 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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In 2005, Harvard was 41k for one year.
In 2020, using Tom's inflation calculator, that will be about 60k. Of course, college tuition tends to increase faster than inflation. 60k x 4 years = 240k 3 kids 240 x 3 = 720k That's a bundle to save. I ain't doing it. |
10-03-2008, 07:08 PM | #5 |
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Join Date: Aug 2005
Location: the far corner of my mind
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We did and we are glad we did.
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Sorry for th e tpyos. |
10-03-2008, 07:10 PM | #6 |
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Location: Orange County, CA
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We have already latched on to one of the girls as our college candidate. The other two will be funneled toward a career in the food service industry.
__________________
Fitter. Happier. More Productive. "Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte |
10-03-2008, 07:11 PM | #7 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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I think one of the big minuses of this approach is that it can lead to entitlement and ultimately disappointment.
My personal opinion, you don't want to have to share responsibilities with a medical resident for whom residency is his/her first job in life. No struggle. |
10-03-2008, 07:13 PM | #8 | |
Senior Member
Join Date: Oct 2007
Location: Orange County, CA
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Quote:
__________________
Fitter. Happier. More Productive. "Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte |
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10-03-2008, 07:16 PM | #9 | |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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Quote:
This could possibly be the cheapest route to being a lawyer in the country. But maybe you were better off for it. |
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10-03-2008, 07:18 PM | #10 |
Demiurge
Join Date: Aug 2005
Posts: 36,368
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How about this approach?
Meet half their educational loan payment 10 years from the time of the last degree? Help on the backend? Were you guys planning to pay for any professional degrees as well? |
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