[justamom]

Damasa,
It seems like you can't start early enough! When you consider the competition for jobs on a national AND international level-the rising costs and the increasing number of students, by the time kids in elmentary school hit college, a degree will be the equivalent of a HS diploma. (It almost is now for certain professions) It was a given in our minds that the children MUST attend a graduate school at a minimum.

We started with Treasurey Notes. Hubby had $100.00 per month per child drawn directly from the account. We also encouraged them to contribute a percentage of their gift money to savings accounts we set up for them. It STILL isn't enough. Yes, it covers dorms and such, but the OTHER expenses that aren't mentioned in the handbook are what eats up the cash. We felt that Greek life was an important part of the college experience and that is by no means cheap. Their grandparents also set up a savings account for college which will most likely be tapped into sometime in their post graduate years.

Stocks are risky as since 2000, many have seen their future washed down the tubes. We are lucky in the sense we have TOPS which pays for tuition if a minumum GPA is maintained (something like 2.7).

Community colleges are a nice safety net if you have one near, by being able to commute. Scholarships are getting harder and harder to obtain for you child even if they score high and graduate with honors.(competition again) One of the best things you can do is talk to your child like college graduation is as much a given as HS graduation-there is NO QUESTION. Then, if they have the drive and desire, should your personal financial word take a HIT-like in this stock fiasco, a devastating illness (or as in our case-total destruction of 2 cars in 6 months!!!!!!!) your kids will have it within them to rise up and WORK for what they want!
You are thinking the right way. On a "life lesson note" I was taught it was a "sin" to raise a child and NOT give them the tools to achieve the lifestyle in which he/she was raised. HUGE isn't it!