Would you pay for your kids to attend college?

[wolfcat87]

Would you pay for your kid (s) college tuition? What's your limit?

I told my kids we would pay for an in state college with reasonable tuition. The limit is about 15k per kid per year for their associates, since they will both be going around the same time. They can live at home or pay their own rent if they live elsewhere. If they want a more expensive college option, they have to pay the difference. If they fail a class they have to pay for it. My husband also plans to use his GI bill on them even though it won't do much.

Part of the reasoning is because our income will likely disqualify them from most financial aid. Otherwise, college here would be nearly free.

Yes fully

Yes partially

No they are on their own

Maybe

Updates

4 mo

The U. S. has free education in over 20 states for people making under a certain amount. I went to college for free here. But, grants and scholarships will be reduced based on parental income. Still cheaper here than states without free tuition. The main flaw is factoring in parental income until they turn 25. That's dumb.

[Anonymous]

Largely depends. My sister was getting her degree paid for by our father and she wanted to switch from architecture to gender studies because she became very left wing radical. My dad refused because he didn't want to waste his money that he had saved over decades through hard work. She had to get a loan. She's working in Starbucks right now.

[wolfcat87]

Oof, that would be a no from me as well. 😅

[exitseven]

I love this story. I hope it is not made up.

[NathanDavis]

I already set a trust fund for my niece's entire education... or to start a business, if she decides to

and I would do the same for my own children, IF they wanted to attend college and go for a degree, I would make sure that the cost of education is never a problem to consider as it was for me once

[Dinklex3]

Yes, but it’d have to be a state college as well. My nieces and nephew should be able to go for free. I don’t have kids of my own, so obviously I’ll be prioritizing them.

[matchrestore]

We've started a 529 plan for our son run by the state bank, started with $600 that was matched by the state, and have contributed $100 a month since then. Its not going to be enough to pay for a full education unless something changes between now and then, but it will definitely help keep him from going into excessive debt from it.

In addition to tuition, the money can be used for books, room and board while enrolled in college, and if there's excess, or he decides not to go to college, the money can also be converted to a Roth IRA. It can also be withdrawn at any time with tax on the gains.

[LaFemmeFatale_1]

No one paid for my university, I got the full scholarship because of my high grades back then.

My parents always told me in my teens that they are not able to help me other than paying for my tutors back then, so it’s better I would become independent enough to not need their help with university.

For my children, I’d invest a lot in their education. However, I’d like them to be independent but unlike me, I’d want them to always know that they can always rely on me.

[RebelinSteel]

I don’t have kids (as far as I know) and I am terrified of that responsibility lol. I do have a fund setup for their education, if I never have any, it makes a good retirement fund. My sister, brother and me were left property and it’s all invested for various things.

[exitseven]

I paid most of it but I made them all have jobs in the summer and one of my kids worked a job at a computer company that was a across the street from his campus. There was one year when the three of them were all going. We could not cover all the bills so I took out a home equity loan. It was 7 years of slow torture but they all graduated with math or science degrees and they all live on their own and make good money. I guess the plan worked.

[BoopBoopBeep]

Ugh scrap a "yes fully" vote. My rescue kitten hit the screen. I was going for "no they are on their own." My mom made it clear early that there was no money for college. Not everybody is meant to go. Plenty of other ways to make good money in life and not have 6-figure debt.

[sawno]

If its reasonable, my parents paid my IT academy for me to. The IT academy in total is like $4000 you earn it back in a few months of salary. I know in the US the prices are insane, like $200.000 which is morgage level stuff. That is not worth it at all, they don't teach stuff of value anymore.

[wolfcat87]

Colleges in the U. S. are mostly pretty cheap. People are just picking more expensive colleges and taking out loans for rental rooms, food, and a bunch of extra they don't need and refusing to pay them for 20+ years while interest grows. Even the more expensive private colleges in my area offer a 50% discount if your GPA is 3.0 or higher. Meaning you averaged all C's (70%) grades or higher. So, even 4 years of expensive private school here would cost less than $50,000. If people go to state school and switch later it's a total of about $35,000. If they do all 4 years of state school, it's about $25,000 for a degree. Most people qualify for easy federal grants that take that state school number to $0. With the same grants, the private school for 4 years goes down to $20,000. That's covering school and everything needed for class without taking out extra money for anything else.

[sawno]

Genuine grants or loans without interest?

[wolfcat87]

Genuine grants, it's free money.

[molonski2]

As long as I had the money sure I would , but its different system in Australia HEX and its expensive ( appreciate US is VERY expensive ) my daughter has 2 degrees , Science / now Dietician..

There is no way I could afford to pay the Hex debt , but if I could I would for sure.

[hahahmm]

Myself & my siblings all paid our own way through school (loans, cash, scholarships) so I can't get in the mindset of saying parents need to pay for their kids. Especially when a person values something more if they have to put more effort in and a lot of college kids are just partying all the time. The value of these schools has crashed since I went to school. They're basically terrorist training camps now.

[wiltingrosepetal]

If my kids want to go to uni, they'll take a HECS debt like my parents have done with me. Which basically means they'll have a tax on their working salary which will slowly pay off student loans. So they'll pay for their own education, but not enough to go broke. For the debt to work you need to have a job first. Money going in, money going out.

Unless I get extremely rich when I'm 30, then they get off scot-free 🤪🥳 (joking)

[DryGermanGuy]

I voted no, because German universities are publicly funded. Outside of 150-250€ semester fees you don't pay anything for your degrees, up-to and including a Doctorate.

[goaded]

I've got one of those, but another in the UK.

[Apple1996]

Nope they are on their own. I don't think college is a good option for everyone so I'd rather my kids choose a different path anyways

[Avicenna]

Nah, they all live in Germany. They can go basically for free there or serve in the military and get GI Bill.

[Astarlessnightsky]

I live in one of the hundred countries where education is free.

[IslaTheWitch]

I would.

But I decided to teach them by myself. It works as a charm

[Forceinhand]

I need not pay anything. The government pays us to attend in my country.

[Hispanic-Cool-Guy]

Only if it's a serious degree like to be a lawyer or doctor.

Anything else then no. College is super overrated in today's world compared to 50 plus years ago when a college degree meant a lot.

[goaded]

Yes, fully, but I am privileged.

[boobliker]

anything to get them in school

[slatyb]

I did.