College fund

United States
May 8, 2007 9:17pm CST
Do you have a college fund set aside for your children or will you try and get grants and loans? We have an account set aside for my daughter but by the time she makes it to college it will probably cost millions for her to go.
6 responses
@carlaabt (3505)
• United States
9 May 07
We've started saving for our son's education. We probably won't have enough for the entire amount, but it might be good for him to work for part of it himself. I know that when I was in school, it was obvious who was paying their own way, and who was getting a free ride from Mommy and Daddy. The ones that didn't have to pay for it themselves never took anything as seriously. I do want to help my son, and any future children we have, though. It's taking us forever to get my student loans all paid off. We are about to get my first loan paid off from when I went to ONE year of a state university, and I even had scholarships. That was 2001-2002. I went to cosmetology school in 2003, and we will paying on that loan until 2011, for 9 months of education. Kind of crazy, huh? I don't want my kids to have to pay for their education that long. But I do want them to have to pay for part of it so that they take it more seriously.
1 person likes this
• United States
10 May 07
I agree it is a good idea to make them pay for part of it so they can take school more seriously. I'm sure we wouldn't have enough even if we tried harder. What we put aside now is all were going to put aside for each of our kids. I do want to make sure I'm involved with helping them get the scholarships and anything else that may be available then.
@wachit14 (3600)
• United States
9 May 07
My son begins college in the fall of this year and we started several funds for him beginning when he was very young. Thankfully, we invested wisely and now have enough money to send him to college. You are required to fill out Fasfa forms (federal) and disclose your income. Depending on what college your daughter goes to, and the income you earn at that time, your daughter will also be eligible for federal aid which includes grants (you don't have to pay back), work/study(a stipend for her to work at college during her free time) and a low-cost subsidized college load which doesn't have to be paid back until after she graduates. There are also scholarships available. We have been using fastweb.com to find applicable scholarships.
• United States
9 May 07
Thanks for the website. Congratulations on your son going to college. I think it is great that your into all of the things thats going on with him to go to college. I wish my mom was more like that. I had to figure out what to do on my own.
@natalie1981 (2000)
• Singapore
16 May 07
Here in our country, there's some sort of college fund that some insurance companies are giving. You pay premiums and they pay for your child's tuition fee when they reach college. Though I have to say that most of them are having troubles. I think too many people are putting their children to college at the same time that they have no funds to give out.
• United States
9 May 07
Yes, we set up a college fund for our little one. We started as soon as he was born. My husband (a Marine) wants him to join the Marines and get his college education then (for free) and if that happens (which I really don't want him to do that...you know, mom's perspective) then, we will use the money to buy him a car when he graduates or help him set up his own place, etc. Whatever it may be, the money will be for him.
@cyrile07 (236)
• Philippines
9 May 07
wow! well, i havent got any kid yet but if ever i will have one in the future, i will set aside money for her education, because education is very important... :)
1 person likes this
• United States
9 May 07
We set away money and will probably pay for part of her school but make her work for the rest. I would liek to say we will have money saved up for her college and the way we plan to save should be close, but then again what happens if she doesn't go to school or drops out . I am so not giving her that money for her to blow.
1 person likes this