Saving for College

Estelle - posted on 08/05/2011 ( 1 mom has responded )

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We just finished putting 2 kids through college. Our youngest graduated in June. We were not able to save before they started school but we managed to do it as they went. The main way we afforded it was to require them to attend Community college for their first 2 years. During that time they could live at home, work part time and we started to budget their education into our monthly budget. Both kids wanted to go away to school at 18 like some of their friends. But we stood firm and by the time they transferred almost all their friends had dropped out. After 2 yrs they transferred to the college of their choice. Also per our agreement they didn't have to work the last 2 years, just be good students. Both kids have thanked us many times for standing firm and giving them this opportunity. Most kids are not mature enough to leave home at 18. They get away from home, party too much and school takes a back seat.
We are so proud of our 2 kids. We just paid as we went. We did take out a small loan on our home, but we absorbed the majority

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Polly - posted on 08/05/2011

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That is one of the best secrets for college I am convinced. the only thing we did different was if the kids passed a class we paid but if the dropped the class or failed they had to pay us back. that helped our two to be more responsible for their education.

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