Sending the Kiddos off to College

I've had this post sitting in draft for quite some time. Always post-poning the scheduled date. It hadn't been written yet, at least not ink to paper, but I had it all panned out in my head. That is, after all, how my brain operates. Over and over again, I thought about this post and what I wanted to say. How I wanted to say it. Where to start it.

Let's start by just saying the word. College.

It can mean a lot of things. If you asked a crowd of people what first came to their mind when we said the word, I bet you would get a variety of answers. Party. Fun. Hard. Four years. Education. Important. And so much more.

But I guarantee the number one answer you would hear would be... expensive.

And the sad thing about this? Is that it will only become more and more expensive, and thus harder and harder for the future generations to attend college.

Before I get to the core of the topic of this post, let me just add here that I am still paying for my college education. My parents paid for my first year of college {and I am ever so grateful for this}, but after I failed to get the good grades {due to my over-indulgence in having "fun" and under-indulgence of going to class}, I had to then find a way to pay for school on my own. Thank you student loans. Thank you for allowing me to go to college and charging me a pretty penny while doing so.

However, if I had a choice... if anyone had a choice.... I think our choice would be that we wouldn't have those lovely monthly payments and therefore we would graduate without that overwhelming thought hanging over our heads. Yes?

So. Let's talk solution. What I am trying to get at with this post.
Saving money for our children from the day they are born. Essential. Key.

I knew when I was pregnant with Elliana that we would be opening up a college fund for her as soon as she was born. I knew that I wanted to take part in my daughter's education from the minute we brought her into this world. I just knew I wanted to do all that I can.

We are also so grateful that we have loving family members that feel the same way and help to contribute.

What I thought at the beginning would be an extra cost in our finances has turned into something that I value more than any other expense. A lot. And so when Graham was born, he was put right next to Elliana on my payroll.

So how do we save?

We opened up the College Choice 529 plan for Elliana {and Graham} as soon as their social security cards came in the mail {about two weeks after birth}. You do this online in a matter of a few steps. Setting up requires the account holder's information as well as the child's {children's}. Then you can set up a monthly plan or put in as you go. We do both. A little a month {whatever you feel comfortable in contributing} out of our bank accounts goes a long way. Every year  I increase the number by $25. Then we ask family members on birthdays and Christmas to contribute what they can instead of clothes and toys that won't last in our home. Of course they still get her a few presents, but the majority of their contribution goes toward her college savings. And I can't say enough how grateful we are for that.

They also send you "checks" that you can mail to family members where they can fill out to contribute and send back. Then this amount goes directly into their account.

And of course one of the perks is that it builds interest over time. 

When Elliana turned two she had enough money in her account to pay for one semester of college. Although we have seven more semesters to go, I feel pretty good about the fact that we have gotten this far so early on. My goal initially was to save enough to pay for 3 years of college. At this rate, we may get through it all.

But even if we weren't able to pay for all four years of our kids' college, it is important to know that we are doing something and we are contributing where it matters most.

I want my children to focus on their education, focus on their careers, and focus on their futures. I don't want them to have these lingering bills hanging over their heads. At the same time, I don't want them to take it for granted. I will tell them my story. Share with them my experience. Warn them, that they too must focus on why they are in college. I want them to have fun and enjoy their experience, but they must also keep in mind the number one reason why they are there.

At the end of the day, I just want to know that we are contributing. I know the economy is tight, money is hard to come around these days for many, but I promise you... even a little bit... goes a long way across 18 years.

And I hope my children appreciate this down the road. They better.