College Fund Chaos

This past week S and I decided to start saving for Baby E’s college by opening a 529 account.  In order to determine how much we should aim to save, we ran some projections.  I’m amazed, I shouldn’t be but I am, at how much 4 years of college is going to cost in 18 years.  Unbelievable!!  We ran 2 scenarios:

1. University of Illinois – Figured it’s a state school and one I’m very fond of.  The project is $250,000 for 4 years (tuition, room and board).    You read that right.  NUTS!!

I should have stopped there but I ran one more…

2. Northwestern – Private school, great reputation.  Are you ready for this….$600,000.  Nope, you read that right too.  I almost lost my lunch when I read that.  I guess I can sell a kidney on the open market or something. 

I’m just praying that Baby E is some prodigy and gets a scholarship.  🙂

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One response to “College Fund Chaos

  1. ugh, it's overwhelming and Will and i have been really bad and not started one yet for Lily. we MUST do that soon!

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