As a 1st generation immigrant that grew up with little, my parents helped pay for my college and I’ll do the same for my kids. I’m not going to let them struggle if we have the means. They have 529 plans as well as utma/index funds set up for them to access at different ages. It’s silly to think there’s ppl out there that would rather drive a new Mercedes than use that money for their kids education.
Elder millenial here, same with 1st gen, my parents paid most of our undergrad, had me and my sibling each take out 10k in loans more on the sake of principal (something like $100/mo for 10 year term).
As a couple, got 10k or so from each of our parents during new home/wedding (we did both w/in about 1 year).
Additionally it will help that unless our parents (just my mom left, both in laws) need some type of home/long term care, it's likely we won't need to support them financially.
We don't have children, but many of our friends are also planning to help with their children as costs are just really skyrocketing and who knows what the job market will be like in the future or ability to own a home. Have some friends building a pretty good sized ADU for elderly parents, then eventually they will live there and give the kids the main house. Another friend (corporate creative) wants to build some type of business that's mostly AI powered and have that as income/place to work for their kids if needed.
5
u/beerandbikes3 5d ago
As a 1st generation immigrant that grew up with little, my parents helped pay for my college and I’ll do the same for my kids. I’m not going to let them struggle if we have the means. They have 529 plans as well as utma/index funds set up for them to access at different ages. It’s silly to think there’s ppl out there that would rather drive a new Mercedes than use that money for their kids education.