...To send your two kids to college... (That's what it will cost in 20 years BTW, and we thought infertility treatments were expensive)
DH and I already think/talk/plan a lot for our kids' futures (we're planners like that) and the other day on our long road trip up north we were talking about a friend and engineer colleague of DH's who since he is employed by a top university just north of Chicago, which DH does many projects for, he would have been able to send his daughter there for free. Though she decided to study elsewhere farther from home (his wife is a prominent attorney and their younger daughter is disabled) so they ended up not getting it gratis in the end. I'm familiar with this lovely perk, several of my professors and staff back in the day did or were planning to take advantage of this, but of course it eliminates the options that your kids have when it comes to college picking, so we discussed how important it is for kids to have this choice.
I know when I was looking at colleges, my parents were pretty hands off, like with most things, though they both made it known that our state university would be just fine with them. So I applied to and was accepted into their honors program as one of my fall back options. While a great school, it was too big and too Greek for me. When I applied early to my first choice (an Ivy) and was deferred to the regular admission pool, I was pissed and decided to go to my second choice (a seven sister), which I quickly got very excited about. Unfortunately, I ended up being very unhappy with the environment and education generally, though I made some great friends, so I transferred out to another school in Boston after my sophomore year. I have warm feelings for the school I graduated from, though it could not have been more different than the first. I wouldn't necessarily recommend the course I took to finish my degree, but I own it and I think where you choose to go to school is one of the more important and earliest big decisions you make as a young adult.
Though it would likely mean a pay cut for him to work on the other side when the time came (he's a consultant), it obviously would pay off in the end. I'd love for the kids to go to college out East, like I did, but there is always summer school in Boston, and grad school wherever they want.
Would you make this choice for your kids? Or have it as a fall back and let them choose the school or the money (to buy a house or something)? One of the nice features of 529s is that you can always change the beneficiary or you are allowed to withdraw an amount equivalent to a scholarship without penalty. But not saving in hopes of this working is not really a responsible option as you never know what'll happen (they outsource their project management between now and then, get rid of the perk, etc.)
DH and I already think/talk/plan a lot for our kids' futures (we're planners like that) and the other day on our long road trip up north we were talking about a friend and engineer colleague of DH's who since he is employed by a top university just north of Chicago, which DH does many projects for, he would have been able to send his daughter there for free. Though she decided to study elsewhere farther from home (his wife is a prominent attorney and their younger daughter is disabled) so they ended up not getting it gratis in the end. I'm familiar with this lovely perk, several of my professors and staff back in the day did or were planning to take advantage of this, but of course it eliminates the options that your kids have when it comes to college picking, so we discussed how important it is for kids to have this choice.
I know when I was looking at colleges, my parents were pretty hands off, like with most things, though they both made it known that our state university would be just fine with them. So I applied to and was accepted into their honors program as one of my fall back options. While a great school, it was too big and too Greek for me. When I applied early to my first choice (an Ivy) and was deferred to the regular admission pool, I was pissed and decided to go to my second choice (a seven sister), which I quickly got very excited about. Unfortunately, I ended up being very unhappy with the environment and education generally, though I made some great friends, so I transferred out to another school in Boston after my sophomore year. I have warm feelings for the school I graduated from, though it could not have been more different than the first. I wouldn't necessarily recommend the course I took to finish my degree, but I own it and I think where you choose to go to school is one of the more important and earliest big decisions you make as a young adult.
Though it would likely mean a pay cut for him to work on the other side when the time came (he's a consultant), it obviously would pay off in the end. I'd love for the kids to go to college out East, like I did, but there is always summer school in Boston, and grad school wherever they want.
Would you make this choice for your kids? Or have it as a fall back and let them choose the school or the money (to buy a house or something)? One of the nice features of 529s is that you can always change the beneficiary or you are allowed to withdraw an amount equivalent to a scholarship without penalty. But not saving in hopes of this working is not really a responsible option as you never know what'll happen (they outsource their project management between now and then, get rid of the perk, etc.)
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