Disney Information Station Logo

Go Back   The DIS Discussion Forums - DISboards.com > Just for Fun > Community Board
Find Hotel Specials & DIScounts
 
facebooktwitterpinterestgoogle plusyoutubeDIS UpdatesDIS email updates
Register Chat FAQ Tickers Search Today's Posts Mark Forums Read





Reply
 
Thread Tools Rate Thread Display Modes
Old 01-15-2013, 08:50 PM   #1
TXinmyheart
Mouseketeer
 
Join Date: Aug 2012
Posts: 122

Is anyone else not saving or paying for college?

We have saved nothing for our kid's college. We expect our kid to pay for college. I know many parents do, but I wonder who is not?

I take heart in a recent study published in the NY Times that we are on the right track for our family:

http://www.nytimes.com/2013/01/15/ed...ge-grades.html

Quote:
Parents’ Financial Support May Not Help College Grades
Published: January 14, 2013


Parents saving for college costs, take heed: A new national study has found that the more college money parents provide — whether in absolute terms or as a share of total costs — the lower their children’s college grades...
TXinmyheart is offline   Reply With Quote
Old 01-15-2013, 08:54 PM   #2
jennyjinx3
DIS Veteran
 
jennyjinx3's Avatar
 
Join Date: Nov 2011
Location: canada
Posts: 4,754

Very interesting indeed. Thanks for posting the link. We are in the camp of saving "some" and expecting the kids to pay for the rest. You will probably get some interesting responses.
__________________
me and DH DD10, DD8, DD5 Thanks Kook!
jennyjinx3 is offline   Reply With Quote
|
The DIS
Register to remove

Join Date: 1997
Location: Orlando, FL
Posts: 1,000,000
Old 01-15-2013, 08:55 PM   #3
Pigeon
DIS Veteran
 
Join Date: Jan 2005
Posts: 7,258

No, we absolutely intend to pay for four years at a public university or the equivalent. If I wasn't willing to do that, I wouldn't have had kids, personally.

My parents paid for my college education, and I graduated summa cum laude. It was by far, the best gift they gave me.
Pigeon is offline   Reply With Quote
Old 01-15-2013, 08:55 PM   #4
ronandannette
DIS Veteran
 
ronandannette's Avatar
 
Join Date: May 2006
Location: Calgary, Alberta, Canada
Posts: 2,400

We suffered a huge financial reversal six years ago when DS was 10. We lost everything and have not managed to "rebuild" savings or investments. DH is 58 and underemployed; it's unlikely that we'll be in a position to completely finance post-secondary. We'll do what we can out of cash-flow when the time comes and fortunately, a college or university education in Canada costs vastly less than in the States.
__________________
DL & Monarch of The Seas 2004 * WDW & Mariner of the Seas 2006 * DL & DCA 2011 * DL & DCA 2013 * DL & DCA 2014
ronandannette is offline   Reply With Quote
Old 01-15-2013, 08:58 PM   #5
Bonniec
DIS Veteran
 
Bonniec's Avatar
 
Join Date: Aug 2011
Location: Orlando, FL
Posts: 2,774

We didn't. Mostly because we didn't have it back then. Both of my twins have put themselves through college, or I should say gotten themselves into college since they are just freshman now. We will probably do the same with our youngest unless we somehow come into money. If I had a lot, I wouldn't think twice about paying for it. My twins had to work extremely hard to get their scholarships. It certainly wasn't easy on them and I'm very proud to see them go. I wish I had been that driven at that age.

I think it's great if you can afford it but it's not the end of the world if you can't.
__________________
Bonniec is offline   Reply With Quote
Old 01-15-2013, 09:02 PM   #6
TXinmyheart
Mouseketeer
 
Join Date: Aug 2012
Posts: 122

Quote:
Originally Posted by Bonniec View Post
I think it's great if you can afford it but it's not the end of the world if you can't.
I am of the Clark Howard camp that you cannot borrow for your retirement. I personally think it builds character and makes for a better student when they have skin in the game.

I see it all the time with business people with the difference in the way they treat things, shop, vacation when someone else is not picking up the tab.
TXinmyheart is offline   Reply With Quote
Old 01-15-2013, 09:03 PM   #7
Scrappy_Tink
DIS Veteran
 
Scrappy_Tink's Avatar
 
Join Date: Aug 2009
Location: Colorful Colorado!
Posts: 4,726

I REFUSE to put myself into debt for my children. If I can afford to pay for a class or two with no hardship, I will, but I will not get loans or give them a "full-ride" through college. If they are determined enough to go to college, they can get a job and go part-time. I've seen too many parents waste their money on their children's education, just for them to get married and not work, or quit school.....or graduate, only to get a minimum wage job, and not exert themselves to do any better....and the parents are stuck paying the bills for years.
__________________

Scrappy_Tink is offline   Reply With Quote
Old 01-15-2013, 09:04 PM   #8
mombrontrent
DIS Veteran
 
mombrontrent's Avatar
 
Join Date: Mar 2008
Location: True North Strong and Free!
Posts: 1,708

We are not saving specifically for our kids education but we do have investments and will pay for college/university for our kids. We are also in Canada so the financial hit won't be so bad.
__________________
Me DH DS13 DD10 DD6
mombrontrent is offline   Reply With Quote
Old 01-15-2013, 09:07 PM   #9
Southernmiss
I am hazed everyday
 
Join Date: Aug 2011
Posts: 2,510

We are encouraging our kids to strive for scholarships. So far, oldest ds has a full 4 year scholarship. We won't be able to pay for college in full, but hope to help our 4 some. Both dh and I had to work and pay our own way. It wasn't easy but it is doable. We work hard, but salaries just don't cover everything.

We are steadily saving for our retirement instead of college. Hope that wI ill be enough. Can't take out loans for retirement.
Southernmiss is offline   Reply With Quote
Old 01-15-2013, 09:08 PM   #10
lurkernj
DIS Veteran
 
lurkernj's Avatar
 
Join Date: Jun 2008
Location: NJ
Posts: 1,442

I think there was a pretty lengthy discussion about this on the budget board a while ago. It got pretty heated.

I intend to pay for at least 4 yrs for each kid(2). I would hate for them to start their adult life with that much debt when we are able to help them. We saved even when we could barely make ends meet, and now were getting ready to send ds17 off in September.
__________________
Me(45) DH(45)DS(19)DS(16)



I Can't BELIEEEEVE I Did This!!!! An Oct 2014 Pre-trip report

All the makings of a Disaster, Sept 2012

Split stay: Yacht Club/Pop Oct 1-Oct 8 DH/me
Art of Animation - April 2013 BFF trip
Port Orleans Resort - Sept 23-30, 2012 (Group trip)
Port Orleans Resort - Dec 10-15, 2010 (BFF trip)
POP Century - Sept 12-18, 2009 (Me and DS11)
Port Orleans Resort - Sept 2-12, 2008 (Group trip)
lurkernj is offline   Reply With Quote
Old 01-15-2013, 09:14 PM   #11
gechele
Earning My Ears
 
Join Date: Jan 2013
Posts: 2

If u can't pay for it that's one thing but if you can you should . I don't want my children to start life in debt .
gechele is offline   Reply With Quote
Old 01-15-2013, 09:15 PM   #12
disykat
DIS Veteran
 
Join Date: Jun 2000
Location: Washington State
Posts: 17,330

We plan on paying for as much as their undergrad as we can. Of course the "scholarship" we provide will be conditional upon grades. They've also been saving since they started doing odd jobs around the neighborhood, then having sumer jobs etc. They don't want a bunch of loans, nor do I want them to have them.

It never pays to hand your children everything without expectations attached. However, If we didn't have money, our kids would qualify for more help. I'm not going to penalize a hard working, deserving child by refusing to help them when we have the money to do so.

Just because some parents are foolish enough to give full rides to mediocre students and that throws some sort of curve doesn't mean all parents should refuse to help their kids.

I personally know some kids who watched their parents spend their "college funds" on vacation cabins while they are working and taking out thousands of dollars of loans. My experience has actually been that those are the kids that are partying it up because they have the same kinds of "we'll worry about it later" attitude about money that their parents do.

Every child I know who knows their mom and dad are sacrificing for them and has been taught about money/loans/college costs has honored that sacrifice.
Those same kids are the ones who know that if they don't honor the sacrifices their parents are making to help them, the parents will STOP paying.
__________________
DL - 1966,1974,2007 WDW 1987,
WDW/BRB 12/90 Honeymoon, DW/DCL 07/01 family 10th Ann, WDW 12/10 family 20th anniversary
disykat is offline   Reply With Quote
Old 01-15-2013, 09:16 PM   #13
StitchesGr8Fan
DIS Veteran
 
StitchesGr8Fan's Avatar
 
Join Date: Jul 2009
Posts: 3,598

We intend to pay for tuition so we will start a 529 plan when baby gets here. However, the kid will have to pay for books, and maybe room & board. I don't want my kid to start his adult life in debt, but they need to have some skin in the game. And I think in 18 years there will either be a reform to make college affordable to almost everyone, or scholarships and grants will be few and far between.
__________________
'86-offsite, '91-Buena Vista Palace, '92-offsite, '97-offsite, '98-Magic Music Days, '06-ASMu, '07-FtW, '09-ASMu,'10-POR,'12-Poly (Honeymoon!)
StitchesGr8Fan is offline   Reply With Quote
Old 01-15-2013, 09:16 PM   #14
jennyjinx3
DIS Veteran
 
jennyjinx3's Avatar
 
Join Date: Nov 2011
Location: canada
Posts: 4,754

Quote:
Originally Posted by disykat View Post
We plan on paying for as much as their undergrad as we can. Of course the "scholarship" we provide will be conditional upon grades. They've also been saving since they started doing odd jobs around the neighborhood, then having sumer jobs etc. They don't want a bunch of loans, nor do I want them to have them.

It never pays to hand your children everything without expectations attached. However, If we didn't have money, our kids would qualify for more help. I'm not going to penalize a hard working, deserving child by refusing to help them when we have the money to do so.

Just because some parents are foolish enough to give full rides to mediocre students and that throws some sort of curve doesn't mean all parents should refuse to help their kids.

I personally know some kids who watched their parents spend their "college funds" on vacation cabins while they are working and taking out thousands of dollars of loans. My experience has actually been that those are the kids that are partying it up because they have the same kinds of "we'll worry about it later" attitude about money that their parents do.

Every child I know who knows their mom and dad are sacrificing for them and has been taught about money/loans/college costs has honored that sacrifice.
Those same kids are the ones who know that if they don't honor the sacrifices their parents are making to help them, the parents will STOP paying.
This is very well put.
__________________
me and DH DD10, DD8, DD5 Thanks Kook!
jennyjinx3 is offline   Reply With Quote
Old 01-15-2013, 09:18 PM   #15
Mickey'snewestfan
DIS Veteran
 
Join Date: Apr 2005
Posts: 4,551

That article also says that if parents set clear expectations for grades and timeline for graduation the difference is eliminated.

On the other hand, I'll be there are studies linking lack of money with difficulty completing the program. I'm not sure good grades matter much if you don't make it to the diploma.

I expect that my child will work hard to earn some merit aid, and have a job in college, and possibly take out a Stafford loan, but I also know that for many wonderful, hard working, bright but not brilliant kids (a description that fits mine), affording the kind of education I want for him isn't going to happen without parental help.

I have committed to saving enough to afford both instate tuition in my state, and what I expect the FAFSA to calculate for my Effective Family Contribution (yes, I've run the calculators already even though he's only 13, I want to be prepared). He won't be able to go anywhere in the country, but he should have a variety of good choices if he has the grades and scores to get in.
Mickey'snewestfan is offline   Reply With Quote
Reply



Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

facebooktwitterpinterestgoogle plusyoutubeDIS Updates
GET OUR DIS UPDATES DELIVERED BY EMAIL



All times are GMT -5. The time now is 12:03 PM.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Copyright © 1997-2014, Werner Technologies, LLC. All Rights Reserved.

You Rated this Thread: