I have three kids ages 4, 3 and 0 and I am concerned about the cost of college education for my daughters. A lot of the "public" schools (not community colleges) cost between $20,000 to $24,000 a year (and some others even more than that). That is a LOT of money!!!!! That would be somewhere between $250 and $300 K for a 4 year degree for the three of them.
I think its unrealistic to come up with that money within the next 14-20 years since we roughly bring in home $110 a year.
- What is the best way to save for college? Here in Ohio there is this http://www.collegeadvantage.com/. Is this the best way?
- Or would you do a 529 through a bank? or financial institution like vanguard?
- How much money should allocate to each one of them each month? (I thought $100 a month but that seems low).
Anyways I am interested to see how are you doing it and how much you contribute to it each month (I am trying to find that magic number that will give me piece of mind later) is it $100 a month per child, $300 per child, $500 a month per child....