Monday, July 23, 2007

Saving for college


I tried to start a 529 college savings account for LT right after he was born but he needed a social security number so I had to wait until that came in the mail.

Today though, thanks to generous gifts from Kari's parents and my grandmother, I officially started saving for Landon's education. At this rate maybe he'll be able to get an expensive but impractical degree from a small elite (er... ok... elitist) East coast school just like his dad. Or maybe not - I saw an article a while back that estimated the cost of a four year private education to be over $450,000 by the time LT is college age. The figure is absolutely mind numbing - I don't know how else to describe it. Who can afford that? Landon, can you say "scholarship"? OK, so he can't talk yet. I can *say* s-c-h-o-l-a-r-s-h-i-p but I had to use the spell checker to help me write it. Hopefully LT will be smarter than his dad. Or maybe he'll be a better athlete. Or both would be good.

$450K???? YIKES! And what if we have another kid someday? Do they have some sort of buy one get one free deal?

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