Comments on: 25 Rules to Grow Rich By #14: Paying for College

By: Becky

Becky — Mon, 12 Nov 2007 17:33:41 +0000

One thing that was missed here is to make sure you have an emergency fund and are on track with your retirement funding before you even think about saving for your child’s education. As I’ve heard it said, you can get loans and grants for college, you can’t get them for retirement :)

By: silverbax

silverbax — Fri, 23 Mar 2007 19:30:21 +0000

This estimate doesn’t count for living expenses, rent, books, insurance, etc. Unless you are planning on paying for only tuition and letting your child work a part-time job to make ends meet, your estimates are low.

By: dimes

dimes — Fri, 01 Dec 2006 03:53:42 +0000

Disagree. Currently our fallback school’s tuition is $32,800. By the time we have a kid, it will be at least $35,000. We also ran one of those interest calculators saying in 20 years our school’s tuition will be $97K/year. They’ve been raising their tuition at a regular rate for the past decade. Most of the private schools do that, and if you save for a private school, you can afford a public one. At any rate, it’s untenable to expect anyone’s kid to invest a half million dollars for a BA in twenty years. I’m hoping the education funding system will collapse within the next decade. It’s gonna hafta.