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Started By
Message
What's a good figure for a college fund
Posted on 5/1/11 at 1:47 pm
Posted on 5/1/11 at 1:47 pm
Enough for 4 years at a public unversity?
2
Posted on 5/1/11 at 1:48 pm to NIH
how old is the kid now. Keep in mind college tuition basically increases at least once a year. I would say if the kid is less than 5 start trying to get up to 100k.
Posted on 5/1/11 at 1:51 pm to oklahogjr
Not my kid, I'm curious to what a good number is now vs 10 with inflation.
Posted on 5/1/11 at 1:53 pm to oklahogjr
100k is a good number if the child is small.
The best investment is to encourage them to work hard in school before college so that they can get scholarships, though.
The best investment is to encourage them to work hard in school before college so that they can get scholarships, though.
Posted on 5/1/11 at 1:59 pm to TheHiddenFlask
So 100k is the future, how much did the parents of today have to put away?
Posted on 5/1/11 at 2:25 pm to Boglehead
Why would you want to factor in OOS?
Posted on 5/1/11 at 2:28 pm to Boglehead
I don't know, that seems kind of unnecessary. Especially when good students can get out of state waivers and scholarships.
Posted on 5/1/11 at 2:32 pm to Boglehead
Seems like there would have been a bigger uproar over that than there has been. You have to figure that there are thousands of alumni in places like Texas who were counting on that for their kids.
Posted on 5/1/11 at 2:49 pm to NIH
100k is what i would plan on for in state. No reason to figure out for anything else. Most kids want to go to the in state school or them and their friends will find ways to get oos tuition reduced to in state.
Posted on 5/1/11 at 3:05 pm to Boglehead
quote:
There is a huge uproar, but the current administration most notably Lombardi and Jindal to some extent couldn't give a shite about anyone but themselves and are running this university into the ground. Martin is a yes man to Lombardi and is completely inept. The days of Sean O'Keefe are long gone.
Posted on 5/1/11 at 3:34 pm to Boglehead
quote:
Are you going to dictate what college your kid goes to?
My kids are gonna dictate what college they go to, no matter how much or little I save for them.
I think enough for in state is plenty, and if they want to go out of state, then they need to work for it, make the grades, and get scholarships that will reward them for there work.
Hence, the kid dictating where he goes to school, not the parents savings.
Posted on 5/1/11 at 3:45 pm to shel311
That works for OOS public schools. Private schools that are good aren't gonna be giving out merit based scholarships though.
Posted on 5/1/11 at 4:30 pm to LSUtoOmaha
I roughly take out 18k a year in loans, plus 5k in scholarship money. And ole miss is relatively cheap OOS.
Posted on 5/1/11 at 5:51 pm to reb13
I'd say $100k is about right. I've got 2 kids and have been putting away $200/month since they were born. One is 10 and the other is 8. If I recall correctly, the last statement I got from START said hat if I cont. saving at he current rate, when they get to college, I'd be about $65k short of being able to cover everything for 4 yrs. 
Posted on 5/1/11 at 6:40 pm to guttata
Good luck, bud. 
Posted on 5/1/11 at 7:01 pm to reb13
Why did you go to Ole Miss out of state? Just curious
Posted on 5/1/11 at 8:04 pm to LSUtoOmaha
I have a college fund for my kid, but I'll be encouraging them to go to Nicholls State being it would be free since my wife teaches there. They can go to grad school wherever they want. 
Posted on 5/1/11 at 8:32 pm to LSUtoOmaha
Because I did not get in to UGA. My other two options were Emory (~40k) or Georgia Southern (free) 
. I understand that GSU is the much smarter financial decision but I do not regret it at all. I am having the best possible college experience anyone could have while getting a good education.
. I understand that GSU is the much smarter financial decision but I do not regret it at all. I am having the best possible college experience anyone could have while getting a good education. 
Posted on 5/1/11 at 8:47 pm to NIH
My son just graduated from College last May from a public University and we spent a grand total of around $95,000 for 4 years with some summer school. One semester I spent 1 grand just on books.
That figure includes his upkeep.
That figure includes his upkeep.
Posted on 5/1/11 at 9:06 pm to Blakely Bimbo
The best schools don't offer scholarships, but the aid packages are great. I actually believe in time, most (private) schools will adopt the Ivy league ways when it comes to financial aid, and the ones that don't won't be the ones you should go to.
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