Paying for your kids college
My kids are getting close to college age and between our own student loans and the recession, we have nothing saved. I have no idea what we will do in 4 years when it’s time to pay. Because of the housing crisis, we had no equity so a home equity line will not likely be an option and frankly we need a new roof!
I had to use loans to pay for my degree, my husband did for his grad school but things were cheaper in the 90s!
Kat Karpinski
195
01/21/20 at 3:24PM UTC
A few women I know did what I wish I had done - get a job at a local college and get a tuition discount for your kids! As long as it's at least a four -year college they can get their BA or BS so much cheaper. One friend here in Collegeville, PA got a job at Ursinus College and that college does sharing with University of Delaware so her twins are at different schools but since they cooperate on tuition she is getting a break for both of them. Look for a job at a local close to home college to help get tuition breaks and have kids live at home or on local campus and work-study. Like I said, I wish I had had the vision to get that job before my two daughters were college age (we didn't save either, and just raided one of our retirement accounts to cover the in-state tuition this 4th year!)
Jackie GhedineCoach Gen X Women|Host Modern GenX Woman podcast
6.03k
01/20/20 at 8:54PM UTC
While we want to do everything we can for our kids, your retirement needs to come first. There are a lot more options for scholarships, grants, etc. than you think (actually an exorbitant amount of money goes unclaimed every year) plus state schools as options too.
Annetta MosesConsumer Insights and Strategy Leader
1.74k
12/29/19 at 6:30AM UTC
I paid for college with a combination of things: part-time jobs, scholarships, and loans.
You children may want to explore going to a community college and then transferring to a university after two years.
Karen Marie Dayle-Van Buskirk
16
01/07/20 at 11:55PM UTC
I agree. I had no college fund and it made me committed to take it seriously. I worked full time, college full time and Air Force ROTC. I still have loans to pay off but I've never expected my parents to foot it.
Patti Working in tech in Colorado
466
12/27/19 at 7:35PM UTC
I hear ya! My daughter had to finance her own education. I wish we could help her, but we were not in that position. Start looking for scholarship opportunities any where you can. There is so much money to be found with scholarships.
