Would you pay for university fees of your kids?

With rising costs and increased learning needs, financing our children's education is no longer a simple walk in the park. Discuss with other parents about how they are managing their finances to cope with their expenses.

Would you pay for university fees of your kids?

Postby Oppsgal » Sun Jul 07, 2013 10:17 am

Somebody told me that kids should pay their own university fees by taking some study loan or scholarship, and not use parents' retirement funds to pay the fees, so we should not worry too much about the funding of school fees, but concentrate on retirement funds.

What do you think?
:shrug:

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Re: Would you pay for university fees of your kids?

Postby Brenda10 » Sun Jul 07, 2013 11:05 am

I have nieces and nephew also takeing the study loan. They also work part time or give tuition while studying U. As such, DD is aware that she may has to apply study loan when she is going U.

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Re: Would you pay for university fees of your kids?

Postby janet88 » Sun Jul 07, 2013 12:10 pm

I personally feel kids should pay their own fees...this way, they may work harder and not take as granted. In time to come, university fees will be higher but hubby and myself also need to have savings and not just be asset rich. As it is presently, we are not able to have savings bcos of their tuition.

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Re: Would you pay for university fees of your kids?

Postby ngl2010 » Sun Jul 07, 2013 2:27 pm

We are going to pay for our son's university fees. It is easier for us to finance it because we only have 1 child.

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Re: Would you pay for university fees of your kids?

Postby Oppsgal » Sun Jul 07, 2013 2:39 pm

If pay for child's university fees, not sure have enough for retirement... fees are very high. :gloomy: If can, I also wish to pay for university fees, but at the same time does not affect retirement plan.

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Re: Would you pay for university fees of your kids?

Postby icy_mama » Sun Jul 07, 2013 2:45 pm

we've budgetted the university fees of our kiddoes into whatever retirement planning we have. should my kids are not able to make into the university, the budgetted amount could be used for whatever business endeavours they may have. however, they use of the funds will be strictly on their merits.

i feel that the best legacy and inheritance we can leave for our children is a good education. give a man a fish you feed him for a day. teach a man to fish and you feed him for a lifetime.

we come into this world with nothing and we'll go with nothing too. i don't ask for much in my old age. just contented to have good, happy children with a good future. :smile:

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Re: Would you pay for university fees of your kids?

Postby sleepy » Sun Jul 07, 2013 4:43 pm

If local Uni, we will pay. I suppose it's within our means and no point getting into debt before starting work
If overseas, has to work hard getting a scholarship. We have no budget for overseas Uni

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Re: Would you pay for university fees of your kids?

Postby sleepy » Sun Jul 07, 2013 5:22 pm

Brenda10 wrote:I have nieces and nephew also takeing the study loan. They also work part time or give tuition while studying U.


I don't want my girls to work during school term. Kind of disruptive in my opinion. Students should just study hard.
Working during school holiday is fine but depends on what kind of job they are taking up, environment must be conducive in case being led astray. So I need to vet through first.

I know I know, I'm guilty of being over protective :sweat:

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Re: Would you pay for university fees of your kids?

Postby bebebub » Sun Jul 07, 2013 5:25 pm

sleepy wrote:If local Uni, we will pay. I suppose it's within our means and no point getting into debt before starting work
If overseas, has to work hard getting a scholarship. We have no budget for overseas Uni

Same for my family.

Only thing is, I didn't give dd any idea of going overseas for her basic degree. In fact, I'm beginning to plant into her the idea of working for some pocket $$ when she goes to poly/uni.

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Re: Would you pay for university fees of your kids?

Postby TheAnswer » Sun Jul 07, 2013 5:30 pm

We will be paying for DS's overseas education (Australia or US) until honours degree. We will have sufficient retirement savings as we have current investments and we are looking to get a second and maybe third property to rent out. If he wants to do his masters or phd, he will need to pay on his own.

However, I do encourage DS to work part time when he is in university. I started part time work when I was 17.

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