Do you have college saving accounts for your kids education? 529? What is better option - save the money in antoehr bank account? Your own retirement fund or invest it in realesate and sell real estate when you need the money for college?
Some thoughts are that kids can get scholarships and low interest loans when they are in college themselves.
Confused after reading this article
6 reasons not to save for kids’ college - MSN Money
Re: College Funds for Kids
I am not married yet, but anyway as a recent college grad, i found it hard to pay college/fees without the help from parents. So the end was hefty amount of loan, which Alhumdolillah i payed back with-in a 1 and half year.
The point is their should be some college money available from parents, it definitely help to concentrate on studies instead of how to pay fees.
Rest i don't have enough information about investing for college, but i will not suggest to invest in real estate in current environment, wait for few months prices will starting to recover before the end of this year how? Well in the new stimulus package congress added a new clause of 15000$ a year tax cut for home owners.
Savings account / Long terms cd's are viable and 100% safe options, IMHO !
Re: College Funds for Kids
We have a couple of overseas properties, and i have savings accounts for each child. Education is a huge priority in my life, therefore i want them to have the best, without having to worry about monetary matters. Even saving a small amount every month could make a difference. Does the state not help at all for University education over in the States? What are the criteria for scholarships?
So yes, i think it's a good idea to save for your kids future (some parts of that article is a load of boohockey), and anyway if some time in the future they offer university grants again here in the UK (one hopes), me and the hubz will have a nice hefty sum of money to enjoy retirement with :)
Re: College Funds for Kids
Maroush - The state does not help. There are few states that offered programs that use to work like a retirement account adn match the investment that you put in dollar for dollar. I don't think that exist anymore.
There are low interest loans available to students. I got scholarship for the frist 2 years and the rest I had student loans and I paid off when I got a job.
The cost of education is rising. It is expected that you need about $100,000 per child. My kids are only 15 months apart so they would be in college at the same time.
I have some property but I also want to set up some funds. I know I am worrying about it a early but like you education is a big priority for me. I want to be prepared when they hit university.