3 ms·
$50k a year in salary doesnt sound like enough to send your kids to college with their tuition paid for. Being able to do that enables them to not have to worr
by oziumjinx 16y ago
$50k a year in salary doesnt sound like enough to send your kids to college with their tuition paid for. Being able to do that enables them to not have to worry about student loans and decades of debt after they graduate. IMHO, that is something to strive for.
- nostrademons 16y agoIt's not - I had virtually no college savings when I went to college, my parents borrowed almost the full amount (mostly in their names, so that my sister and I would be mostly debt-free when we graduated). Five years after graduation, it's paid off in full. $50K/year is, however, low enough that you can get some really generous financial aid if you manage to get into an elite college. Nowadays it'll give you a full ride at Stanford/MIT/Amherst; in my time it was more like a 2/3-ride. Or a full-ride merit scholarship at a state school, if you could otherwise get into an elite college. Also, weren't we talking about making $100K/year and spending like you have $50K/year? If you do that, in 4 years you've got your kid's college education fund.