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re: College savings question
Posted on 11/5/15 at 11:59 am to lsufanintexas
Posted on 11/5/15 at 11:59 am to lsufanintexas
My goal is to have approximately $60,000.00 saved for each kid by the time they turn 18.
Our only child is 4 1/2 mos. old - we started a 529 plan right away. And will do the same with the next.
Our only child is 4 1/2 mos. old - we started a 529 plan right away. And will do the same with the next.
This post was edited on 11/5/15 at 11:59 am
0
Posted on 11/6/15 at 6:57 am to lsufanintexas
FWIW, my LSU career costed $26k for 3.5 yrs (graduated early), with full TOPS and an extra academic scholarship. I was in a fraternity though, but I also paid for my car, gas, insurance, food with a job. LSU is very cheap for instate students though, my out of state friends will have 3 or 4 times my total bill
Can't tell you whether to fund your kids or not, but it makes it a lot easier for them if you can. Don't let them take advantage of that by going to a really expensive school like Tulane though. Most undergrad degrees from places like that aren't worth the money
Can't tell you whether to fund your kids or not, but it makes it a lot easier for them if you can. Don't let them take advantage of that by going to a really expensive school like Tulane though. Most undergrad degrees from places like that aren't worth the money
Posted on 11/6/15 at 9:56 am to Sigma
quote:
I think that 40k number is way too low. I'm shooting for 100k and thinking I'll still have to fund some of it from taxable accounts. 7% COA inflation is a bear.
I'd like to think college attendance costs won't keep increasing at their present rates, but they probably will.
Hell, some of the rents for these new college apartments are the same as my home mortgage.
Posted on 11/8/15 at 1:22 pm to GetCocky11
My dad started my START program pretty late, but pushed himself in contributions. I had a near full-ride for college, and with TOPS I ended up making a couple of hundred bucks each of the last 4 semesters. We deferred START to med school and it covered the first 2 and a half years.
My son is a new arrival and I ended up going with the state of Utah plan (gets some of the highest ratings), seeing as how Mississippi's program is pretty bad and I'm here temporarily. Once we make our final move, I'll have to consider the plan and tax savings for that state vs Utah's. Will probably end up with 2 529s for him
My son is a new arrival and I ended up going with the state of Utah plan (gets some of the highest ratings), seeing as how Mississippi's program is pretty bad and I'm here temporarily. Once we make our final move, I'll have to consider the plan and tax savings for that state vs Utah's. Will probably end up with 2 529s for him
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