Considering "Fairness" When Paying Sibling College Costs

typiCAmom
Mon, 16 May 2016 20:06:25 +0000

We opened 529’s for our kids when each was 3, 8 years apart, with exactly the same amount for each one. Not because we felt it was fair - rather, for our kids to feel they are being treated equally money-wise. I told my daughter 529 money are essentially hers to manage throughout her lifetime - it would be her choice to spend it on undergrad education or grad school if she gets into a school with large merit aid, so she can decide for herself how hard she wants to work in HS. But in the end, if we have the extra money by the time she gets to grad school, we’ll help out with that, too, even if she spends 529 money on undergrad degree. After all, where else to spend the money we earn than on our kids