What's a good way to start a college fund for a kid?

[colleyvillesooner]

We would like a safe way to put money away for college. How do we go about this? We bank with Bank of America and have a few thousand to get it started if there are any options that require a minimum. He's already 6 months old so we better get going. :D

TIA

[royalfan5]

Why not just bet on the kid being a genius or athlete and securing a full ride, and blow the money on booze instead.

[yermom]

Why not just bet on the kid being a genius or athlete and securing a full ride, and blow the money on booze instead.

+1 :D

[JLEW1818]

:pop:

yup my parents did that and luckily i became the starting QB at OU


(I'm Sam Bradford by the way)

[GottaHavePride]

Mason. Jars.

IBT:dean:

[JLEW1818]

http://www.newyorklife.com/nyl/v/index.jsp?contentId=11796&vgnextoid=26a72f5a919d2210a2b3019d221024301cacRCRD

[Sooner24]

We would like a safe way to put money away for college. How do we go about this? We bank with Bank of America and have a few thousand to get it started if there are any options that require a minimum. He's already 6 months old so we better get going. :D

TIA

Here's betting your son graduates before Sic'Em. :D

[John Kochtoston]

Send him out with a lawnmower and a pocket full of dreams.

[sooneron]

^ this and I think we have a 529 set up for the little one.

[soonerscuba]

BRK.A

YWIA.

[Sooner24]

My son just graduated from OU and we just paid as he went. The first year was the worst while he was in the dorms. After the first year, when he got out of university housing, it cost about half as much each month. Just guessing from now until your son turns 18 you better plan on saving roughly $500 to $600 a month and that might be a conservative number. Then if he goes out of state to school the price really jumps. I'm not trying to scare you but college cost a fortune. Here is something else you might consider.

https://www.texastuitionpromisefund.com/OFI529/PN/generated/en_us/PrimaryNavigation_07-08-08-173858.xml


https://www.oppenheimerfunds.com/digitalAssets/57bd97ec8e23c110VgnVCM100000e82311ac____-0.pdf

[Sooner24]

BRK.A

YWIA.

I think I have 20 or 30 shares stuck in a drawer somewhere. :texan:

[Scott D]

never to early to start pimpin'.

[colleyvillesooner]

My son just graduated from OU and we just paid as he went. The first year was the worst while he was in the dorms. After the first year, when he got out of university housing, it cost about half as much each month. Just guessing from now until your son turns 18 you better plan on saving roughly $500 to $600 a month and that might be a conservative number. Then if he goes out of state to school the price really jumps. I'm not trying to scare you but college cost a fortune. Here is something else you might consider.

https://www.texastuitionpromisefund.com/OFI529/PN/generated/en_us/PrimaryNavigation_07-08-08-173858.xml


https://www.oppenheimerfunds.com/digitalAssets/57bd97ec8e23c110VgnVCM100000e82311ac____-0.pdf

$130,000?

he can pay for that ****. ;)

[AggieTool]

- Join the military and get the new GI Bill...(you)

- Education IRA.

- Make sure they excel at academics so they get scholarships.

- Grants if yer poor.

- Have them join the military and get the GI Bill.

[Sooner24]

$130,000?

he can pay for that ****. ;)

You would be surprised how many of my son's friends have anywhere from $75,000 to $100,000 in student loans to pay off and some have not even graduated yet.

After the end of May I took the https://pay.ou.edu/ icon off of my desktop. Oh happy day! :)

[stoopified]

Have your children late in life and let your kids use their share of the life insurance for school or to rapay loans if I live too long.

[JohnnyMack]

Remember all that money you used to **** away going to OU games? :D

[salth2o]

UTMA fund. I have one set up for all three of my crumb snatchers and make monthly contributions.

[yermom]

man, i can only imagine how much OU will cost in ~20 years

[Sooner24]

man, i can only imagine how much OU will cost in ~20 years

The sad thing is you pay more in fees than in tuition.

[olevetonahill]

Good Luck bro
Ive been tucking away a 100 bucks a month fer My grand kids It wont pay fer it but it will help

[Frozen Sooner]

^ this and I think we have a 529 set up for the little one.

This. Set up a 529. Much better than a Coverdell IRA.

[badger]

Tuition (and fees) really skyrocketed nationwide in the past few years... then again, costs everywhere went up and colleges were just a part of that.

[1890MilesToNorman]

When the kid turns 10 put him to work, make him work, get him in the habit of working, work, work work. He will be fine!

[badger]

When the kid turns 10 put him to work, make him work, get him in the habit of working, work, work work. He will be fine!

I had to do yard and house chores long before then... but eventually got upset that rewards consisted of "lunch" or "dinner" or other things I get regardless.

It didn't take long for me to figure out how to do no work at all when there was nothing at stake, except perhaps an earfull of scolding.

I know, I know... I was a little brat :D

[1890MilesToNorman]

No cookies for you Badger! :D

[badger]

No cookies for you Badger! :D

Parents didn't believe in cookies like grandparents did. Nor did they believe in Nintendo, other junk food, name brand soda or the other things that probably rotted away most of my classmates' childhoods.

But hey, it was probably all for the best... but I was indeed a bratty little mouth when I was young.