If you can save even a little for college educations, it sends a strong message to kids that you support their going to college (or other post high school education or other opportunities that may take extra funds.)
Doing this also models responsible financial behavior, rather than setting them up to be burdened with a student loan, and possibly a full time workload, just to continue their educations. They are not going to waste their college money or take it lightly if you raise them to be sensible financially, and I think if you are reading this discussion you are going to be doing that! I believe that over all, kids whose parents save a bit for their further educations are more likely to go on to college, even if they have to pay the bulk of their expenses themselves. That's partly expectations and partly a wind-beneath-your-wings feeling that you can succeed because your family is behind you, but also the knowledge that you aren't taking resources from the current budget, because you know your family has been planning for you to do this for a long time.
Part of financial education for teens involves looking at what various educational options cost and what they are worth to you, and how you can juggle things to make it all work out. Teens who know their parents are saving a little for their college expenses are more likely to think about how much they will have to spend, and how they can help...like by taking some college courses during high school for free at a community college, taking courses that will allow them to test out of basic college courses, and so on.
If you can't save for your kids college expenses yourself, you can still help them save a small part of the gift money they receive over the years and some of the money from any jobs they do. Even a small college fund sends the message that, yes, you can go to college right after high school, if that is your choice. Gail

The MSN article made some good points but my DH and I save our DS college education. My DH and I have our retirement accounts and our DS has a 529b and a savings account. 529b is strictly funds given to him at his Christening,holidays & birthdays, savings account is a 'future car or whatever fund.' We contribute what we can to these two accounts. We believe it cannot hurt to make some contributions and our relatives feel the same way. Rather than toys that will hold his interest in these first yrs., why not help to provide for his future? Don't get me wrong, DS still gets many play things : ) We both had our college educations paid for by our parents and scholarships.We did not take that for granted. My DH paid for law school with minimal help from his parents and we,for yrs., paid off the rest of his loans. If our DS chooses not to go to college, he will get these funds when he is 30 to buy a home or do so what he pleases. We will start an acocung for Baby #2 which will arrive this spring.
Danette

Ditto...

Our kids college money is already saved for them (and making more for them as we speak! ). Whatever they don't use, they can use to do whatever with. That's how my parents did it with myself and my sisters. If they didn't need to use it for tuition, we got it as a nestegg. It was awesome.

We've been lucky in that we were able to save/invest for college for them, and save/invest for ourselves. Dh and I didn't want our kids to start off their lives in the real world with student loan debt! Especially since our educations were both paid for by our parents, it was a no-brainer for us.

I think just like with EVERYTHING else, blanket statements about "well if you pay for their college, they won't try or they won't appreciate it etc" are just that - blanket statements. LOL Every family, child and situation is different.

Dh and I do both. We are saving for our retirement and for ds's education. Ds education $ is set aside in a mutual fund - in our names. He'll have to earn some $$, that will probably go towards books/board.

My main goal is for ds not to have to take out student loans. I will do everything in my power for ds not to have to do that. I've heard too many stories where people take out high student loans, don't come close to recouping the $ they thought they would, and then don't have any $$ to help their own kids out with Their university education. I don't want that for ds and if I can avoid that I would.

If we simply could not do both in it's entirety, retirement would come first. However, even if we could only afford $10 a month that's what I would do, no questions asked. Little amounts add up. I think it's important to 'put your money where your mouth is' as far as education is concerned, even if it is a small amount. After all, by college age kids know your financial status anyway - they will see that it took a real sacrifice to save that $ ___ whatever amount and will see it is important to you and should be to them as well.

Ds won't be handed the whole tuition amount simply because by the time he gets there, I don't think his mutual fund will cover the whole amount - but even if it did, I don't think it sends the message he can goof off because it's our money. I don't think it means anything except your parents had enough to send you to university. I think way before university you are going to know their personality, if they are going to take advantage or not. Yes, some will, and No some will not. My parents paid for all my university, and I knew it was a sacrifice and did not goof off.

I am glad that you posted this article. I felt guilty for not being able to afford a 529 plan for my daughter. We are doing good to save for our retirement.

Well, we are in a different situation than most. The only thing we did with our settlement money was to open three prepaid accounts for college. Their tuition for four years is done. Period. It was important to us to do that. Any scholarship money they get (which I think they will) will go towards room and board. We researched this long and hard and since we had the means, no debt and our retirement plans covered, we did it.

I do think retirement should come first though.

However, I don't think kids that have it "handed to them" as others have said, take it for granted. I did not have to take out any loans for college due to my parents and lots of scholarship money. It was DEFINITELY not taken for granted on my part - or my husband's who had a similar story. That is just a false statement that I get really tired of hearing. If my kids are going to be ungrateful, I would blame the way I raised them more than anything.

Exactly my point!
Facts are, MOST people who don't have parental support just don't go...and that's just a travesty.

__________________
Chopey

I paid for my own college education---I worked and took out student loans which are now paid. Retirement is much more important and I agree with the other posters. We max out on dh's 401K at work & we contribute to my roth IRA (I'm a SAHM). I cannot imagine not saving anything for retirement.

Dh also paid for his college education. We are still paying on his student loans for his masters degree but it helped get promotions (more money). Neither dh nor I ever felt comfortable accepting any financial assistance from our parents so we do everything on our own. Their money is for their retirement.

I do want to add that when my kids are older, I will go back to work & use that money for their college & our retirement.