Saving for child's education

[Maximilan_Kolbe]

I would not say those figures are universal. Much would depend on region and other factors. There are a few parishes around here that have tuition-free K-8 schools, and I could send 4+ kids to our parish school for $8000 (granted, the first would take up about half of that.) The school is academically sound and authentically Catholic.

High school is pricier, but still lower than $13k.

That said, we are planning on public school. Ours are very good. For a while I was attached to homeschooling but after my children got a bit older and I got to know myself better as a mother, I realized that it wasn’t likely to suit us. I know that I could if I had to. We could also probably scrounge up tuition for the parish school if we absolutely had to, but in the meantime I’m glad my son and I can walk to kindergarten next year.

No doubt the cost varies. I was just giving an example of the schools around here in the mid-atlantic. Everything is more expensive here, and that doesn’t always correlate to quality.

One the nice thing about the 529s is they are not tied to a child per se. I asked what would happen in the event a child did not go to college, or heaven forbid, passed away. The money can be transferred to a siblings 529. If no child goes to college, or there are no siblings, the money can be transferred to a parent’s IRA. So there is protection, such as it is with governmental promises.

 

[E_7]

One the nice thing about the 529s is they are not tied to a child per se. I asked what would happen in the event a child did not go to college, or heaven forbid, passed away. The money can be transferred to a siblings 529. If no child goes to college, or there are no siblings, the money can be transferred to a parent’s IRA. So there is protection, such as it is with governmental promises.

Oh, interesting.

 

[pensmama87]

No doubt the cost varies. I was just giving an example of the schools around here in the mid-atlantic. Everything is more expensive here, and that doesn’t always correlate to quality.

One the nice thing about the 529s is they are not tied to a child per se. I asked what would happen in the event a child did not go to college, or heaven forbid, passed away. The money can be transferred to a siblings 529. If no child goes to college, or there are no siblings, the money can be transferred to a parent’s IRA. So there is protection, such as it is with governmental promises.

I live in the mid-Atlantic region too, though I definitely know there is a huge variation in cost of living depending on where specifically you are. I also know that where I am, if one desires, you could probably find a few prep schools that would cost upwards of $15,000/year. But it’s by no means standard (or an indicator of quality, as you mention.) And the Catholic schools are much less expensive than secular private schools, and in many cases just as “good” academically.