Originally Posted by sisteeesmama
I was reading in unschooling about saving for your child's college and I was wondering what everyone is doing, thinks and why?
Do you save for your kids college?
Do you think it is a MUST unless you can't afford to?
Do you intentionally NOT save for thier college for any reason?
Although there are shades of "intentional." If I had money to spare, I might think, "Why not invest it for my kids' college?" But I don't.
I do not think it is wise to save money right now. The value of the dollar is guaranteed to drop significantly going forward, and every dollar saved now will be worth far less than a dollar when it's needed, unless you are VERY shrewd investing (and even then, I think unconventional investing will be the only way to preserve the value of your wealth).
I do not think college is likely to be a good investment for my children. I am going to encourage them to get life experience in fields they are interested in, and if/when they are ready, to only go to college if it's effectively guaranteed to pay for itself. Otherwise I will consider it an expensive luxury.
I enjoyed college. A degree was convenient when I applied for jobs, but my DH did just fine without one. I cannot believe I spent so much money on a fun and interesting 4 years. I wish my parents had helped us put that money into a good living situation instead (land, house, etc). This is what I will encourage my kids to consider.
I don't think college will be essential in the world my kids will grow to inhabit. I think more and more people will be giving it up as a luxury. I think my kids will go farther jumping right in to a useful craft or profession that does not require an expensive degree. Yes, they may need training or apprenticeship, but I don't think an $80,000 piece of paper is the best way to go about that - for most professions. For some, it is a necessity, and it does pay for itself, and I will support that, but I will not save for it because I don't think it's the likely route.
Yes, I know this is a radical view. I assume I'm ahead of the curve. I think it will become more and more common.
We unschool also, so that affects my perspective on this. And both my dad and DH don't have college degrees and managed well in professional fields.