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We decided to save exactly $0 for our kid’s college education. Our theory is that by the time he goes the system will have imploded and far cheaper options will
by seibelj 6y ago
We decided to save exactly $0 for our kid’s college education. Our theory is that by the time he goes the system will have imploded and far cheaper options will emerge. The whole system is on the verge of collapse. Also recent reports of parents negotiating between colleges for discounts like you do at a car dealership have annoyed me immensely. This whole thing is disgusting and insane.
- rwmj 6y agoThis sounds very foolhardy. Why not save the money in case? In the (IMHO) highly unlikely situation that the system collapses, you'll have a pot of money you can spend on something else.
- oneoffcoder 6y agoExactly, why bet on your child's future. Maybe whatever the trend is around then costs equivalent amount of money that you need to pay for college now. Also, as far as other professions which require licenses are concerned, you'll always have to go through some institution to do that job, lawyers, civil engineers, doctors, etc.
- awinder 6y agoIf you’re really that worried about it, save it in a joint taxable account. That way you’re “just” gambling away the preferential tax treatment (substantial) of 529 because you’re pretty sure you’d take the 10% penalty when it blows up. That’s much more equal bet than not saving.
- deleted 6y ago[deleted]
- Havoc 6y agoBetting that a system that has stood for decades collapses on a time line that suits you seems bold to say the least