I did the 529 plan for our state. I bought 400 units per child for 2 kids, 100 units covers 1 year of tuition.

At the time that I bought them they were $35.00 per unit. This year they are $172. Planning ahead is a good thing. You can cash out any unused units at a much higher rate than your initial purchase price. This year it is $117.

I have three kids, one in undergrad, one in graduate school, one headed to graduate school.

I have spent about $200k. I expect to spend a further $300+ by the time they are all done.

CA 529 plans came into effect, IIRC in 1999. A little too late for them to be meaningful for our daughter. She started at UC Santa Barbara in 2000. We planned her monthly expenses like any other monthly expense. We budgeted and paid her bills as they came in. So we paid as she went to school, and I put some of it on a 2nd on the house. When I sold the DB4, I paid off the 2nd.

I've planned on $20K per year. Hopefully that will get it done.

A question for those that have or plan to send their kids to out of state or private schools - how do you justify it? College is expensive enough already......

It would have to be a Top 20 (maybe 25, at the outside) nationally ranked school for me to justify it.

I.e., an Ivy League, Stanford, Duke, etc.

I went to one of those (my parents paid all the costs), and to me, the cost is easily justified (for a variety of reasons, some relating to education, others not).

Otherwise, I agree with you.

I see parents doing it all the time, though. Sending their kids (who obviously were not great students) to far away, out of state, mediocre schools that cost a boatload of money. Schools that have an 80 or 90% acceptance rate, for example, and are not even close to being a Tier I college. For that, they spend $50K per year.

I don't think that's a good value, or a wise use of money to spend on a not-serious student, and I wouldn't do it.

They grow up when they live away from home for their last year of high school. It is an excellent step to be ready for University.

Only an issue if you have the $$, at least to me. Happy to help to a point but they need some skin in the game too. Feeling charitable and want to help them out in a big way? Pay off/down their loans when they graduate.

I see too many kids caught up in the nice campus, weather... to understand how $$$ out of state or private is.

I moved from Dallas to Pittsburgh and both daughters want to move back. It is early, only 8th and 6th grade right now so could very well change, but that is what I'm planning for. Decent chance we will move after the youngest graduates high school, so in state would likely become out of state anyway. I'm also fortunate enough to be able to write the check. Just hoping they don't figure that out by them. As others have said, would like to find a way for them to have skin in the game.

What do I target for college savings?

Hahahahahahahahahahahahah

Sigh...

Sniffle...

Pass that box of kleenex.....

Where's my beer?

In some cases I agree, there is a definitely a payout. I know that some opportunities in certain fields simply won't happen without the right degree from the right college. But sending your kids out of state to be English majors? Not so much.

My parents did it because I was going to a good school and to one that I really wanted to go to.

Miami of Ohio is a top 15 business school. It was worth it.