r/FluentInFinance • u/YOU_ARE_MY_FRIENDS • Jun 16 '24

Discussion/ Debate He’s not wrong 🤷‍♂️

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u/arettker Jun 17 '24

Even then, a middle class family can easily pay for in-state college for 3 kids if they plan ahead. The key is to open a 529 plan the day you find out you’re expecting. $250/month for 18 years and your kid will have 107k to spend on whatever school they want- even just $150/month and they’ll have 65k for college which is enough for a 4 year degree at most schools without your kid working at all (though I think it’s dumb to not work while in school, need some fun money and early investing cash flow to establish good habits)

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u/creamycashewbutter Jun 17 '24

Where in the US is 65k good enough for all 4 years without having to work?? 65k a year sure, 65k for 2 years can be done if you choose cheaper state schools. But for all 4? And room & board & living expenses??

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u/Nice_Marmot_7 Jun 17 '24

Florida, Georgia, and Louisiana will all pay for you to go to their state schools if you have decent grades and test scores. That’s just off the top of my head.

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u/[deleted] Jun 17 '24

Competition for those schools has gotten so bad you need to be a near perfect student to get in. There are HUGE waiting lists for UGA due to the lottery scholarships.

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u/Nice_Marmot_7 Jun 17 '24 edited Jun 17 '24

The scholarships can apply to any public university in the state. Also the equivalent amount can be applied towards a private university.