My son is currently a HS Sophomore, I've been saving for college since he was born. I've saved thru all kinds of vehicles - he has a (FL) pre-paid tuition plan, savings bonds, a 529 plan, I even opened a Upromise account (after 5 years it only has about $130, but that'll buy a book I guess!). I'd never want to pay for the whole thing, I think it is better if kids have at least some financial responsibility for their college education. But I don't want him to start off with such a huge debt either - public colledge for 4 years will cost about $80K with room//board, etc. Private - forget about it! Price is skyrocketting, it is ridiculous. So I am aiming to help out with about 1/3 - 1/2, and he can foot the bill for the rest. Of course, since I only have 1 child, this is a little easier than if I had more.
|