Among Friends

[Annabellethecat66]

I texted her but she is on her way to the beach for a week.  As soon as she gets back to me I'll let you know what it's called.

It makes a lot of sense. I don't understand why more parents don't take advantage of it.  Anyway, I'll get back to you.

I do know it rolls over to another kid if it isn't used.  That's why she only did 3 children.

She's positive some are going to get scholarship money because they go to gifted schools, etc.  

Anyway, I'll let you know.

[Annabellethecat66]

@teganslaw  I agree with you about the college stuff.

Back when my girls went to college it was easy, we just paid as we went (or rather they went). 

This daughter realizes how lucky she is that when she got her Masters Degree, she didn't start out married life with school loans.  Neither did her husband.  He went ROTC because he didn't want his parents to pay for his college.  Then when he got his Masters, his parents gave him the money they'd saved for his college.  That was a large down payment on their house.

She and her two teenagers came by on the way to the beach to check up on me and bring me back my car. We were talking about it.  

They took my car, got it inspected, washed,

vacuumed and waxed it.

[KarenQVC]

I can only say how the MI Plan works.  It buffers against increases in college tuition.  It will also pay for a more expensive college in the system (like UMich) and a longer--like engineering--degree.

It will pay out to the parents if the kid doesn't go to college--not terribly generously.

In our case, the MI Plan paid out to the out of state school our son went to once every semester.  Then we paid the difference.

[Annabellethecat66]

@teganslaw  So, as promised, I texted my daughter about the Va program she bought into.  She has now prepaid for 3 of her children to go to Va colleges.

It's called Va prepaid or Prepaid 529.  Go here. https://www.savingforcollege.com/529-plans/virginia/prepaid529

I read somewhere else that the program is no longer offered.

There are provisions for if the child goes to a college outside of Va or...various other scenarios.

As I said, 3 of her children are in schools for gifted kids, so they'll probably get some scholarship money and ...for sure one will probably go to Harvard, Purdue, etc.  It's going to be interesting to see how all of this pans out.

With the first kid picking Va Tech, my daughter lucked out.  Ha!  Emily's parents did take her to several schools around the country, but she's always liked Tech.

My late husband told our 3 girls they could pick any college in Va.  He said Va has some excellent colleges and he wasn't about to pay out of state tuition.  But the oldest (only one to get Masters) did pick Georgetown for her Masters. It is a private school.  It was very expensive.

My late husband got his Masters from American University.  He always felt when you go to a private school you're often paying for the name.  I'm sure that is debatable, but that's how he felt.

More than ever some kids (and their parents) are considering a "gap year".  Here's what a 'gap year' is.

https://www.savingforcollege.com/529-plans/virginia/prepaid529

I worry though because once a kid starts earning money, it's hard to go back to college full time.

In the end, every parent and child must decide what works best for them.  I think maturity and cost are two things to definitely consider.

[lovesrecess]

I see the problem as being VaTech already has three years's worth of your granddaughter's money. The school has no incentive to accommodate students.

[KarenQVC]

@lovesrecess The top state schools have every incentive to accommodate the top tier of students.  They need them to keep their ratings up.

For example, UMich said they would pay my son's tuition for his last 3 years, although there was no financial need.  The depts. have $ to give out so the best students don't transfer after freshman year.

My son ended up going to Harvard, which is one of only about 5 schools which are worth the extra $.

,

[KarenQVC]

@Annabellethecat66 How is your back?  Is your update on a different thread?

[Tinkerbell3]

I am having some difficulty reading and understanding your post. You are rattling on... Sorry!

MOST, if not ALL colleges/Universities have already shared that in person classes will be ending by Thanksgiving and many school's are starting a week earlier in August. 

The truth is that this pandemic will dictate what happens, not the school board. We have no idea what the numbers will look like- Frankly, there is absolutely no way that returning to campus, living in dorms, sharing bathrooms, eating together will be safe! Air conditioning is also an enormous issue. 

It will also depend on the individual state because some are far more laxed than others! I would worry about being in those red states. 

Many kids take online classes. It will be fine. It's better than risking your health.

[busymom22]

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@Tinkerbell3 wrote:

I am having some difficulty reading and understanding your post. You are rattling on... Sorry!

MOST, if not ALL colleges/Universities have already shared that in person classes will be ending by Thanksgiving and many school's are starting a week earlier in August. 

The truth is that this pandemic will dictate what happens, not the school board. We have no idea what the numbers will look like- Frankly, there is absolutely no way that returning to campus, living in dorms, sharing bathrooms, eating together will be safe! Air conditioning is also an enormous issue. 

It will also depend on the individual state because some are far more laxed than others! I would worry about being in those red states. 

Many kids take online classes. It will be fine. It's better than risking your health.

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I agree with this.  My son's school is very liberal in its plans for fall but I already told him to be ready for anything.  Colleges must follow state laws so if a governor locks things down again those plans can go out the window. Students must get ready to have a very different "college experience" than what they originally expected.