Who Pays For College?

[mtblujeans]

Who pays (or, is going to pay) for your children's college education? You or your child?

 

[MaryAnnDVC]

Good question! DD got no "need" financial aid, except she can take out a student loan, so we're counting on merit scholarships (she's gotten full tuition, 4 years). The due date for many other scholarships she applied for was only April 15, so I'm not even sure exactly when we'll hear back. We're playing the waiting game now, and I assume that what we'll do (we haven't really talked about it) is have her take out the loan, and whatever is left, we'll pay. Besides tuition/room/board, there are books and a computer, and really cool bedding and stuff (we're having a blast shopping for that stuff!)...it sure adds up! We looked at textbooks when we went on a college tour...yikes! Quite a bit more than when I was in college back in ****.

 

[minniecarousel]

Both of our sons graduated from State Universities, so the biggest expense was room/board. We paid for everything. Glad it's over!

 

[Blueeyes101817]

I am in college now and am very fortunate that my parents are paying for it..I am going to a state university and living home so it is not as bad as it could be..but i know they cant wait til i graduate in may 2007!
Hopefully i will be able to pay for my children when/if the time comes

 

[tmt martins]

I put that we would pay .

But in all realitiy it will be the next person that rearends me on 95 because they are talking on their cell phone.I don't understand it I do that and e-mail on my Blackberry all the time and never hit anyone

 

[DVC Sadie]

We paid for our sons college education by putting money in a mutual fund and letting it grow over 15 years.

 

[WebmasterMaryJo]

I paid for my own college, but I will pay for my children ... as long as they keep up their grades.

 

[Nanoer]

My school

 

[disykat]

We plan on paying, however they will be contributing in the following ways.

Getting good grades, applying for scholarships, etc.
Working summer jobs and part-time in the school year - and applying that money towards their expenses (and by expenses, I do NOT mean cars, stereos, or vacations!)
Being frugal with their money and accountable for their grades.

If they do the above, we'll be paying for everything they need for a Bachelor's.

 

[Longsx3]

I checked othter:

We are Florida residents and paid for the Florida Prepaid Plan. We have 4 yrs University and the Local Fee's plan paid for, next year we want to pay for 2yrs Dormitory.

In the end we hope she will qualify for the the Florida Bright Scholars program as well as other Scholarships. Then the money we spent on the plan will be used for spending money and setting up her first apartment after College Graduation.

Of course she is only in 4th grade right now so we will have to see what the next 8yrs brings us.

 

[minkydog]

We paid for the first two semesters of DS19 college. However, the deal is we will pay tuition as long as the grades are passing. He failed everything(twice!) and has a 0.00 GPA so far So he is now working at Blockbuster and living in my basement. When DD13 comes along she will get the same deal.

 

[azgal81]

Is this same thread posted on two boards for a reason?? I replied to it over on the budget board! Maybe we should combine the two threads.

 

[NJOYURLIFE]

We have about 5-6 years to go. I answered other because I am not really sure. My husand was lucky enough that his parents paid while I paid my own way through student loans and working. My initial gut is that we would pay and have made some provisions in that event. However, I also currently teach some classes at a local college and I take notice of how some students who are not paying their own way handle their studies. It seems like those who are paying their way take college much more seriously. Not that I want to paint all students who are lucky enough to have someone else pay as not taking their education as seriously as those who do pay. This is just something I noticed.

I guess alot will depend on how my children are when we get to that point.

 

[newholidayx2]

My parents paid for my 4yrs of college and I will do the same for DS. He'll be entering highschool in the fall so he'll be starting college in 4yrs.
I'll be taking the money from my Fidelity funds.

 

[DVC-Don]

We have college accounts set up for our children. If those are not enough, the children will have to come up with the rest via jobs or loans.

Personally I paid for my own college education and had to borrow the last year.

 

[aprilgail2]

I put away money for my daughters college every week and my brother also puts away money in his own fund for her...he wants to make sure she doesn't have to work while going to college and can just concentrate on school and not have to worry about work or money. I only have one child because I planned it that way, I looked at my finances and knew that I could afford to take one on nice vacations and pay for ones college...if I had two no way could I do that..so I stopped at the one I could send to school...and if she chooses NOT to go to school then I have a nice addtion to my retirment fund LOL!

 

[froglady]

We plan on paying, however they will be contributing in the following ways.

Getting good grades, applying for scholarships, etc.
Working summer jobs and part-time in the school year - and applying that money towards their expenses (and by expenses, I do NOT mean cars, stereos, or vacations!)
Being frugal with their money and accountable for their grades.

If they do the above, we'll be paying for everything they need for a Bachelor's.

That's exactly what we did with DD. The only difference was that she had the option of going to schools which offered her merit scholarships, or going to ones that did not. Because she chose the scholarship (with the understanding that she would have to maintain a certain GPA to keep it) we were able to purchase her a new car in her junior year, and also have a little nest egg for her first apartment, graduate school (although she will pay most of that herself) etc.

 

[Just2554]

Well, tomorrow is my last day of freshman year!

As far as tuition goes: I'm paying for half, my parents are paying for half. I have a Stafford loan for 2500 dollars a semester; they have a plus loan for the same. I have a small scholarship, which we use toward books, etc. I live at home for now and will next year as well, then I switch campuses and will be moving into an apartment.

 

[The Mystery Machine]

Other...Some of the above.

We will help pay, they will work, and they will take out loans. Hopefully they can get some grant money and/or scholarships. Not counting on that but will try for it.
I told dd when she is 16 and working she will need to apply a %age to her college fund.

 

[Ranatra]

We paid for all 3 of our children's college education. They worked and supplied their own spending money. We also paid for their apartments and food as long as they were keeping up their grades, which they did.

If I had it to do all over again, I'd plan my children at least 4 years apart!!