Quote:
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Originally Posted by PrincessPerky
My 2cents
How do you know your kid is going to college?
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They have been told from early on that college is something they will do after high school. Now if something does come along where college isn't needed or if something happens and college isn't an option, then I get my money back out of the PACT - just the amount I put into it. So, I wouldn't have earned anything on that $7 or 8K - no big deal. Now if I had >$20K in it as it is the price now in AL, then it would have been a bigger deal. But where could I put $8K (as is my daughter's PACT 10 years ago) to have grown to $25+K today? I'd have had to put it in something with 12% interest compounded monthly. I'd love to find that somewhere!!! My point is, before 9/11, these PACTs were good deals. After 9/11, they're not as attractive, but still a viable option because you're buying security with it; a guarantee that their tuition is fully (up to a certain number of hours) paid for. Right now, going to college is in my kids' future and they know it's something they are to do...
Expenses outside of tuition is where we/they will save for or cover with scholarships (as in my daughter's case)....
Dixiechick
