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Old 12-08-2004, 12:02 PM
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DivaJen DivaJen is offline
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Default Re: Are you planning to help your kids go to college?

We're planning on paying for some or all of DD's college expenses and have started saving already. My parents paid tuition, rent, food and books for me, plus a little extra here and there if I recall correctly - anything else (i.e. fun money) was up to me to earn. I tutored to make extra money. I'm very glad I didn't have to start my professional life saddled with tens of thousands of dollars of debt.

Our home will be nearly paid off by the time DD is college age, so one idea we've tossed around is to pay off early (if we can) and then use that money to help with tuition costs. Another idea is for me to return to work, knowing that that money will go towards her education (though not any time soon, as we're homeschooling).

Personally, I think that if kids are raised with a healthy respect for the value of money, it is possible to pay for their education and still have them come out on the other side as financially responsible adults. At least, it worked for me.
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