College Bound...

College Fund... - College Fund...
@twoey68 (13662)
United States
August 5, 2009 9:57am CST
Some parents start a college fund as soon as their child is born, that way they have a good chance of going on to college after high school. Some times knowing that the funds are there encourages the child to push harder in school to make it to college. Of course, sometimes life gets in the way and parents have to dip into the fund in order to keep things going…and sometimes when college time comes along there is no fund. I never planned to go to college, there wasn’t a special career that I wanted to get into. One of my brothers went to college but didn’t really do anything with it. The other two went right out into life from school. With all of the grants and loans today, there really isn’t any reason anyone can’t go to college even without a college fund. Do you have college funds set aside for your kids? How would you feel if you worked all through school only to find there was no money for college? Do you think parents owe it to their kids to put them through college or do you think that if a kid wants it bad enough they’ll do it on their own? If you went to college, do you use the degree? [b]**AT PEACE WITHIN** ~~STAND STRONG IN YOUR BELIEFS~~[/b]
8 people like this
26 responses
• Australia
7 Aug 09
My parents never put money aside for advanced education for me, but they did for my sisters. Their reasoning was it was a waste of time and money with me, because I didn't do very well in high school, and if I wanted to go to Uni, I could pay my own way. Turns out, my sisters wasted the money they were given, because they didn't start uni the year they needed to (specified by the fund upon opening). That money would have been better put into my education after all, because I had to work 4 jobs (all casual) and study for my agricultural certs. but I didn't complete them because I didn't have enough time to do my assignments due to working long hours as well. With my children, they will pay their own way. I want them to make the choice for themselves, and if they don't want to go to uni, then I can't force them. If they do, then they will work harder and get better grades if they pay their own way (we get study grants here for low or no income students). Nothing in life is free, so depending on parents for future finances, like college/uni,isn't worth it. They might one day decide to cash that money in and go on a trip around the world.
1 person likes this
@anniefannie (1743)
• United States
6 Aug 09
i think that the parents should put the kids in college if they make that kind of money so many just make enough from day to day expensives it does not hurt the kids to work while in school and help pay that way they might appreciate school more and study harder
1 person likes this
@MNRFOLEY (223)
• Australia
6 Aug 09
Being a parent myself I think it is my responsibility to putmy kids through college. To me education is still important, I do have opened an account for my daughter's education in her name just in case she would like to pursue or further her education after high school. I would be encouraging her to finish university but it will always be her own desicion what she wants to do. It is better to save money now than to have none in the future when the need for it arises.
@jdyrj777 (6559)
• United States
5 Aug 09
I was a single parent and the amount of child support ordered was like a bad joke. I was never able to save money for anything. Often had to work 2 jobs just to get by. Alot of the time we didnt even have a car. My son didnt go to college, my daughter did. She go grants and loans to go. Iam so proud of her for that. My son can fix and build computers. He was self taught. Im just as proud of him too.
1 person likes this
@gr8life (6253)
• Malaysia
14 Aug 09
Hello twoey68, I am one person who went to university to pursue my studies, took a degree course and right after graduation decided not to work in the same field of study. It was almost like 15 years ago... *smiles* Definitely I don't apply anything that I studied before in my line of work. I have a friend whose daughter decided not to 'study hard' cause she knows that her single mother can't afford to send her to university. That's pretty sad when thing like this stops someone to work hard for what they want in life. I watched a movie not long ago where a daughter blamed her mother for being sick and used up her college fund. She couldn't get along well with her mother. Mother was an obese person and whenever she doesn't take care of her diet, the daughter will get angry for no reasons. It helps when you have a better education but it doesn't guarantee that you will have a good life in future. That's my opinion.
@gr8life (6253)
• Malaysia
14 Aug 09
Hello twoey68, Sorry for the double responses!
@saundyl (9698)
• Canada
11 Aug 09
I dont have kids yet - but when i do i intend to start them a college fund and set aside a little bit each month as i can afford it. My parents set aside money for my sisters and i. I think it was hard for them because they tend to have more money going towards the farm than my dad makes and there were times we didnt have money at all. In highschool when we had jobs we were required to put half of our pay cheque to our college fund as well as half of any 4-h money from selling our steers. Frustrating at the time but when i started college it was nice to have the money to do the first year and half or so. My grandma on my dad's side give me 5000 as a grad gift for my first year of university - it covered my tuition and a bit of the books. It helped alot to have money saved and then after that I had to get loans (which im now paying off) to finish college. My sister's also had money set aside. One of my sisters had a Female cockerspaniel that mom gave her half the money from the pups to go to her college fund. My youngest sister I dont know if mom and dad do have money set aside - well as much because i know they tend to use that fund at times when they have to take her to the city for her cancer treatments. She has a few years yet and i noticed that both myself and my other two sisters (we're quite a bit older tha her) tend to put money into that account for her as well.
@saundyl (9698)
• Canada
11 Aug 09
PS - my first year was premed - i found it very hard going from a class of 18 students to just being a number in a university so i transferred to a smaller college and started taking paramedic training - however that didnt go so well when i hit a bus with my car and got scared of driving and with drew from the course. I waited 6 months then started in on a Systems Adminstration and Information technology course - 2 year course crammed into 12 months. I found it vastly different form university because you went from 8-5 and it was straight classes it was a class of 15 students and it was the full 12 months of the year. University when i went you could do 4 hours a day for 8 months and that was full time...i liked the smooshed in one way better i was done faster.
@gr8life (6253)
• Malaysia
13 Aug 09
Hello twoey68, I am one person who went to university to pursue my studies, took a degree course and right after graduation decided not to work in the same field of study. It was almost like 15 years ago... *smiles* Definitely I don't apply anything that I studied before in my line of work. I have a friend whose daughter decided not to 'study hard' cause she knows that her single mother can't afford to send her to university. That's pretty sad when thing like this stops someone to work hard for what they want in life. I watched a movie not long ago where a daughter blamed her mother for being sick and used up her college fund. She couldn't get along well with her mother. Mother was an obese person and whenever she doesn't take care of her diet, the daughter will get angry for no reasons. It helps when you have a better education but it doesn't guarantee that you will have a good life in future. That's my opinion.
@tjades (3594)
• Jamaica
8 Aug 09
I definately think so. I hate it when parents look at their kids and tell them theres no money for certain educational or even recreational activities. Granted it is a fact that most of us willnever be able to provide for our families the way we really want to. I strongly believe though that we ought to plan for our family, fo our children and ensure they have the best we can give them. Have two kids instead of five. If its hard to provide for two why would someone want to selfishly go and spread the already thin resources to feed five. A college education fund should be at the forefront of every parents mind. Some kids may get viable opportunities which leads them to success without a college education but the key is that the funds were provided.
@Debs_place (10551)
• United States
6 Aug 09
Parents are required to support their kids until they are 18. If a parent cannot afford to send their kid to college then the kid and the parents should find a way to finance it, provided the kid really wants to go. I saved for my son to go to college. 48 hours before his high school graduation I lost the job that I had for over 22 years. I was lucky, my son decided to go into the Navy instead and his college fund allowed me to live fora few years before I found another job. My parents did not give me a penny toward college, I have a master's in computer science.
@_sketch_ (5711)
• United States
6 Aug 09
My parents started saving up for me and my brothers college, but I guess it was spent. They make too much money for me to be able to get financial aid, I didn't participate in extracurricular activities and get good enough grades to get a scholarship, and for some reason I am having trouble trying to get any kind of loan. Right now I am unemployed, even though I literally applied to every single place in a huge outdoor mall and many other places as well. And I am supposed to be starting school at the end of this month and I will receive no help from my parents. So I am searching for a job and a loan and seeing lots of debt in my future. I think that parents should help their children with it, but whatever.
@SomeCowgirl (32273)
• United States
6 Aug 09
My fiance and I aren't ready for kids right now, so we haven't thought about anything like this. However, I think that the parents should help the children out by starting a fund, I think Gerber Food does something like that, or maybe it's something else... In either case, I do think that a the parents should do all they can to help if for no other reason then an encouragement to strive to do their (the children's) best through school and hopefully if not possibly go to college. Sure there are a lot of grants, but some of them seem to be hard and tedious processes that can also make a person SOL with school payments.
@gemini_rose (16194)
6 Aug 09
I have not got college funds set up for my children but I did start a savings account for each of them when they were born and I put money into them each month. I guess if they go on to college when they leave school then they can use the money towards costs etc. I do not think parents owe to kids to fund them through college because they would be at the age where they can go and find little part time jobs to help fund themselves, but I would help them out wherever Ic ould.
@razcal2267 (15577)
• United States
6 Aug 09
I did go to college, all of us did. We knew that the first 2 years my parents would pay for but after that we were on our own to figure out how to pay. When my sister and her husband had their first child they did two things. The first was set up an "school account" and the second was send every family member a link to Upromise. They now have three children and the savings will be divided when they each reach the age to go to college. Who knows if there will be enough for all of their schooling but right now they each have a pretty good start. No I don't think parents owe it to their children but I do think it is a wonderful when they do/can. I do not use my degree. I have in the past but right now being an over paid babysitter is paying the bills and very rewarding so why bother.
@dragon54u (31043)
• United States
6 Aug 09
I think it's great if parents can help out with college. It's very hard to go to college and hold down a job at the same time and often it's the grades that suffer. My boys are blessed with grandparents (my ex's parents) that saved since the boys were born for their college. They are very well off and reimburse my ex for the classes the boys get a C or better in. I don't think parents owe it to their kids to pay for college but I think that if at all possible, they should save some money to help them through. They should also help their child by letting them live at home during college--I've heard of parents (some of my boys' friends, in fact) whose present to their kids on their 18th birthday was a demand to get out and find a place of their own. I was horrified. Anyway, there's a lot of ways parents can help that don't take a lot of money, and I think they should if they can.
@reinydawn (11651)
• United States
6 Aug 09
Very interesting... First off, I wish I had been in a position to save money for my kids college education, but there was barely money for the essentials. My oldest takes a few classes here and there when he scrapes the money together, and we buy him gift cards for tuition when we can. My youngest is eligible for the G.I bill and will probably never take advantage of it... But he's learning a trade in the Navy, so that's not so bad. When I first went to college, my parents had been in the same boat and there was no college money. My dad made me the deal that if I went to school - and paid for it - he wouldn't charge me rent and I could stay as long as I needed to. After my first term at the community college I received an academic scholarship that paid for 100% of my tuition and books - as long as I kept the grades up. But then of course, my family came along a bit earlier than I had planned, the grades slipped and I lost the scholarship, and dropped out. MANY years later, I went back to school on my employers dime. They had a great tuition reimbursement plan and I only paid for about 20% of my college education. I am now a CPA. My husband went to college on a sports scholarship and his degree is in the same package he received it in. His work is not related to his job at all. My brother pretty much bankrupted himself putting his oldest child through 4 years of college. She needs to go on to veterinary school, but there's no money left. Oh, and there are still some outstanding loans for her first 4 years. There's also no money left for his son who just graduated from high school, never mind the one that's still in high school. My husband's x tried to demand that he (we) pay for their kids college. I flat out refused because I wasn't going to put his kids through school when I couldn't put my own through school, saying nothing about the fact that they messed up by not saving for this in the first place. Personally, I think that if the parents are in a position to pay for college, they should. If they aren't, the kids need to get the money for it - be it through working, grants, scholarships, work programs, whatever.
@mtdewgurl74 (18124)
• United States
6 Aug 09
I wanted my mom to start a college fund for my little sister who is now 8 but so far she hasn't. That way she can have a head start on something we never got the chance to have or have that choice anyhow. If she doesn't go to college then make it so the money can't be touched till she is 21 or 25 years of age so she will have something if she decides to take another path.
• India
6 Aug 09
Let me say first that it never ceases to amaze me as to how people in your places make it OK thru life without having a college degree…its amazing and its wonderful, too whereas here in India, no kid stands any chance of a respectable living if there is no college degree to show off or at least no formal degree and training to speak of! Not going to college is just not an option here. No wonder, education is the latest and biggest business in India, with private colleges and training institution mushrooming by galore everywhere and worried parents going grey trying to save and then borrow some more. We too are no exception and have taken out insurance policies for our son’s future education…the scheme is that after a certain period, we get more than what we are investing now in the form of annual premiums. As per our calculations, we would be getting the money when he’s 18 i.e. just beginning college and the money should come in real handy then just to get him started…though it will not cover the entire expenses of courses which we hope he will want to take up. In that case, we will have to borrow from the banks.
@jillmalitz (5132)
• United States
5 Aug 09
I think there are a lot of factors that would go into that. I tried once saving for my kids college and ended up not being able to save enough. None of them went anyway. One went for one semester before moving in with her boyfriend and getting pregnant.And she was smart. My other daughter went for a couple of years while she was married and got grants which were great. Her husband was a "professional" student and that is one way that always managed to have extra money. But neither of them finished. And he was going to be an aeronautical engineer - yeah right.
5 Aug 09
Hi Twoey68, I think some kids are given things to them on a platter and parents work ing fingers to the bone for them, then some kids don't appreciate it,so I think kids should be made to work hard at it to achive what the really want, they learn that way. Tamara
@glords (2615)
• United States
5 Aug 09
lol... if you worked hard through school you should be able to apply for a pretty good scholarship and other financial aid. Also you can apply for a loan. My hubby is still paying off his education. Worth every penny! I don't think a parent owes their child an education, but I think it really does give them a heads up in life. We have a college account for our son. He is two years old.