College Fund For Children

To encourage our children (total of 12, ranging from ages 6 to 27 years old) to participate in some aspect of paying for their college, we told them that beginning in high school, when they got a summer job, if they would put a percentage of what they made in the bank, we would match it. So, if they saved $800, we would match it and make it $1,600.

 

Of course they were allowed to keep some of what they made for fun things. And by doing it this way, all of the older kids that have gone through college so far, have made it through without owing any debts. They don't owe us, they don't owe the college, and they don't owe the government.

 

This has been a good incentive for the kids to work pretty hard during the summer. And the younger kids realize that it will be the same way for them, so there are no false expectations that we are all of a sudden going to hand them money for college.