how do you manage tuition fee for kids

[Nhatrang]

@ccprofandmomof2

We have saved $600 a month in a 529 since birth and still don’t have enough to send two kids to the state public university. I think it’s deeply misleading to readers to suggest that you can save $25 a month and take only camping vacations and belt tighten a little and you’ll end up having enough to pay for college nowadays. I just put some numbers into a savings calculator, and we would have had to save about $416 per month per kid for 18 years to afford our in-state public universities, and that’s without assuming tuition will go up, which of course it will. Double that (or more) for private schools. That’s a pretty big chunk of change for a young parent who is also probably paying about $1500 a month per kid for daycare, and is in the earlier days of their career. Most full-pay parents cannot afford the prices of public OR private colleges currently–even if they were frugal all along. Run the numbers.

Agreed. Your numbers echo our situation. We have been saving $500 per month each kid since birth and by the time D19 goes to college last year, it’s not enough for 4 years of her OOS tuition. I think it was around $220k but we needed more like $260-280k. So we started to double the contribution to her fund since last year. Unless stock market tanks, she should have enough for 4 years. My son’s account looks a little better and he won’t start college until 2023. It’s funny that he keeps offering his 529 to pay for his sister.