mommygrove Posted February 22, 2010 Report Share Posted February 22, 2010 For those with kids at BYU or BYU Idaho, are you helping your kids pay for college? Why or why not? What do you see as the advantages/disadvantages? If yes, how much do you think is reasonable? Just as some background, I have 7 children. My kids are adopted and many have learning disabilities that I do not believe will keep them from college but may keep them from getting scholarships. Also, we make too much $ for our kids to qualify for federal financial aid. My oldest is 9 so I have some time to think about this but I have been thinking that maybe I should start saving as there is only a 6 year spread from my oldest to my youngest so I will have several in college at once. But I am unsure how much to save, how much to help, etc. I got financial aid and scholarships for college. I graduated with only $5K in student loans. But my circumstances were dramatically different from what my children's will be so I feel like I am walking in unfamiliar territory and I am curious as to what other parents are doing. Thanks! Kelly:confused: Quote Link to comment Share on other sites More sharing options...
mightynancy Posted February 23, 2010 Report Share Posted February 23, 2010 My kids are 100% on the Y.O.Y.O. plan. That's short for "You're On Your Own." We probably will qualify for some need-based grants, but outside of that, our kids know they'll be earning whatever other money they need for college. They're both capable of earning academic scholarships if they put their hearts into it, and the younger one is capable of earning a sports scholarship as well (assuming she puts the work into developing her talents). It's just a reality for us, but there are benefits and drawbacks to each path. My kids will benefit from learning that work pays off, and they won't expect things to be handed to them. On the other hand, a child whose parents plan to pay for school will be able to devote himself 100% to his studies if he chooses to. Six of one... If I were in your shoes, I'd do my best to save at least some college money for them. It would be nice for them to have that cushion. :) Quote Link to comment Share on other sites More sharing options...
Lbybug Posted February 23, 2010 Report Share Posted February 23, 2010 isn't this topic already started here? http://www.lds.net/forums/young-single-adults-college-institute/30546-paying-college.html Quote Link to comment Share on other sites More sharing options...
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