Comments on: Why You Should Save for Your Kids’ College Education

By: college

college — Fri, 27 Apr 2012 19:15:49 +0000

Parents dont have to pay for their childrens schooling IF they help in a plan to transition their child. It’s their responsibility-school advisors are too bogged down w/ student/course overload to truly be effective. I wish someone wouldve recommended I first get a two year degree in respiratory therapy, paramedics, or medical assistant which pays relatively decent. Then while working in my profession building experience I would continue classes to be a physician’s assistant, physical therapist… ect. You cant just attend school to be “one” type of professional.

Parents should help to aid if the child needs miscellaneous funding (shy on rent, help in health compliance/professional fees). Too much money is not good. Too little is not either.

By: JoJo

JoJo — Tue, 09 Aug 2011 15:01:28 +0000

whole life insurance & universal life are very poor investment vehicles. Don’t bundle investments with your life insurance. Separate the two & you’ll find much cheaper life insurance (term) and a better return in cd’s, etc.

By: CJ

CJ — Tue, 07 Jun 2011 16:21:29 +0000

You might do better to consider dividend paying whole life insurance or index universal life or annuities – something safer than the stock market and more flexible than a 529 in terms of its eventual use – and many tax advantages to boot!

Feel free to contact me at SavingsMaven.College@gmail.com of you would like to get some add’l info.

By: michael hamilton

michael hamilton — Wed, 09 Feb 2011 16:19:22 +0000

College education is not a birth rite……

529′s are NOT fdic insured…….

” you can get rid of your kiks “…..only after your 6 feet under.

resp michael

By: Ian

Ian — Tue, 18 Jan 2011 10:05:45 +0000

Yes you should pay for your kid’s college; every cent. You brought ‘em on this planet and you owe it to them. Don’t be a cheapskate.

By: Toni the Sailor

Toni the Sailor — Sun, 16 Jan 2011 18:36:10 +0000

My parents paid for my first 2 years of college (Community College) and I (and the Navy) paid for my graduate degree. No debt!
Yes I say save for the kids college, BUT!! If they go in the mode of “I want to take a break from school to go find myself”, all bets are off. Put the money for your retirement!

Better yet, pay for the first 2 years and they will be on their own and you won’t get suck into the debt-game. Important! Do not co-sign for the student-loan. A friend of mine son died in a car accident and the parents is stuck with a the loan. If you must, co-sign, get a life insurance on the child!

By: Mitchell @ TheDollarStretch

Mitchell @ TheDollarStretch — Fri, 13 Aug 2010 19:25:24 +0000

Glad you addressed such a hot button issue in personal finance – great job presenting the case for and against. I’m firmly in the – paying for your kids college education is a ‘nice to have’ expense at best. My mind can’t wrap itself around the concept that parents should fund a college account when many are simultaneously taking 30 years to pay off their home, have underfinanced retirement accounts, and are likely carrying some type of consumer credit balance. Kids going to college have alternative solutions to cover the cost – students loans, scholarships, jobs, public universities, taking 5 years, etc. How many alternative funding options do parents have when it comes to their “must have” expenses: again, mortgage, retirement, etc?

By: Bankruptcy Ben

Bankruptcy Ben — Fri, 25 Jun 2010 02:01:09 +0000

I like financial samuries response in theory. You could do a “student loan” to your kids at a lower interest rate than standard, it would be win/win. However I’ll give my standard speach about not lending to friends and family unless you’re prepared to loose either the money or the money and the relationship.

Personally i think you pay for your kids education because your buying your progeny and income. Like lords used to buy their kids high places in the military and the church. There for you make sure your grandkids and your kids kids will have a higher standard of living

By: Autodidact

Autodidact — Sun, 14 Mar 2010 05:18:35 +0000

Employers, especially executive level managers, tend to respect and value people more if and when they learn that a particular person:

a) paid their own way through college and/or grad school and got high marks, and/or
b) worked full-time (i.e., 40 hours a week) as a professional while doing so, and/or
c) were responsible for raising a sibling or caring for a sick family member while doing so.

We can’t be sure why this is the truth, but it does seem to be.

By: Paying For College – Should Parents Pay For College Tuition?

Paying For College – Should Parents Pay For College Tuition? — Sat, 13 Mar 2010 21:47:04 +0000

[...] of paying for all or some of your kids college education, carefully consider and bookmark these devil’s advocate articles on who should pay for college, and who should not pay and how helping pay for college can [...]