Gotta question. Yeah, it’s a little on the personal side so my apologies in advance. I’m going to ask it anyway.
How – if at all – do you plan on paying for your kid(s) college education?
The state of MS offers a program where you can lock in today’s tuition price for your kiddo, pay that off over the years, and when they graduate high school and are ready for college, their tuition (at an in-state public university) is paid for.
I’ve really been thinking about doing this for Lovegirl. The program is fully guaranteed (for whatever that’s worth) by the state. The money is not invested in the stock market and from what I’ve read so far, if that child decides not to go to college, you are refunded your money or you can transfer it to a younger sibling (so not happening).
My thinking is this….with the way tuition is rising it is highly unlikely that Smoochy and I will be able to just write a check for Lovegirl’s tuition when that time comes. I want to give her the option of a paid-for undergraduate education. Much like my parents did for my brothers and I. They were like…you don’t have to go to UAPB, but that’s where we are writing a tuition check. If you get a full ride scholarship and want to go elsewhere, more power to you. With this program I think we’d be able to offer Lovegirl the same sort of deal – you can go to any public university in the state and we’ve got you. Otherwise….
What do you think? Do you have something similar for your child(ren)? Would you do this if offered in your state? Do you think it is too restrictive and makes a decision for your child that they should be allowed to make themselves?