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Monday
Feb082010

Money 

How Do Parents Pay For College?

This week's Motherlode: Adventures in Parenting section of The New York Time Magazine focuses on something all parents struggle with and that is being able to afford 4 years of college tuition. In what alternate reality is this possible?! - "how can the average, hard-working, middle-class parent can possibly “make” these numbers with only an 18-year head start". Great article - Read on!

Now that my son is a college freshman, I see everything in terms of tuition payments. I know that our monthly mortgage is less than our monthly college bill. That a certain freelance assignment will or will not cover a month at school. That the anemic levels of our 529 accounts have rebounded enough to pay for a few months more.

When I was in college, tuition reached $10,000, a number so shocking that we ran it as the headline across the front page of the school newspaper. Now the numbers are several times that, outpacing inflation. They almost don’t seem real.

I got an e-mail message from a reader asking how the average, hard-working, middle-class parent can possibly “make” these numbers with only an 18-year head start. Read more at NYT: Motherlode



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