I never felt the need to share exact numbers, but my kids have always known I was saving for college from the time they were quite little. The actual dollar amount wouldn't have mattered as they have little concept of the cost of college, or how the financial aid/merit system works yet. It wasn't until oldest was applying that I gave the dollar value budget he had to work with. Also, their college savings is half 529, half UTMA. The expenses would be split between the two and if they went over they had up to the amount of federal loans they could take. If they came in under budget they'd be not only debt free, but the remainder of the UTMA was theirs as a launch fund. Worked like a charm for my oldest who graduated with quite a bit left over. He turned down several costlier out of state options in favor of our nearly free in state option so he wouldn't blow "his" money. Crossing my fingers for the next one that is just in 9th grade.
Statistics: Posted by cshell2 — Tue Nov 26, 2024 7:58 am — Replies 14 — Views 937