(Original) I submit the collegeFund app 3 days ago. This app is similar to the myNestEgg ~ the retirement calculator, it helps parents (and other family members who are willing to help) to calculate the kid’s college savings fund vs. the retirement fund in the retirement calculator.
I got this idea more than a year ago when a close friend who is sending kid to college. I can felt financial burden of the father, while I can also fully appreciate the kid’s decision to go to a well known college instead of the college his dad and yours truly both went (btw, the job prospect of our alma mater was very good).
This March, our daughter was born, I was hoping I don’t have to be put into such as tough spot when my kid starts college (btw, her father will have to seriously think about the retirement plans then). Hence, I opened the Ohio 529 plan a month after her birth, and started to put away the money we received from family. Meanwhile, I set an automatic monthly deposit for her account.
Anyway, I wish this is a beginning for parents, grand parents, uncles, aunties etc. to plan for their kids’ college education. Now let’s hope the app gets approved soon 🙂