That’s how it reads to me;
SMFH @ the mentality of “I’m only ‘okay’ with actual equality for everyone if it doesn’t inconvenience me in any way.”
24 Likes
Grad school probably wouldn’t be free; neither would private universities. So if your kids went to community college / public 4-year university, there would be no need for your savings (probably? there might still be issues with textbooks, meal plans, dorms, etc.).
4 Likes
This is good, I did not know about that waived penalty for scholarship. Hopefully they would treat this the same, as a ‘scholarship’ to allow folks to get their 529 money out. I completely agree we should have to pay taxes on the capital gains. I’m sure it’s wishful thinking that I wouldn’t need all that 529 money anyway for non-tuition expenses. And someone made a good point about saving it for grad school, but dang, I hope my kids can afford that one on their own. 
I believe I can also pass it on to my kids so they can use it to pay for school for their own children if I’m not mistaken.
1 Like
Excellent point; ‘free’ will likely only apply to undergraduate tuition fees, and not all the non-inclusive expenses that go along with higher education; room and board, lab fees, books, supplies, etc… which all add up very fucking quickly.
14 Likes
In practice, in a lot of fields grad school is already free. I never paid anything for my doctorate in microbiology and in fact actually got a small stipend to live on besides free tuition.
9 Likes
Good for you! Doesn’t work out that way for everybody.
1 Like
Given that actual tuition accounts for only 40-60% of typical college costs, you should be able to use you 529 accounts for non-tuition expenses.
My son’s first year at college I was shocked to see that housing, meals, books and fees cost more than the actual courses. As far as I know, none of these free college plans address these extra costs.
9 Likes
What doesn’t work out that way for everybody? Did you read the entire comment, or just the immediately visible part? Hint, click where the arrow is and there’s more behind the cut.
10 Likes
Books and fees are legitimate concerns, but I would presume that housing and meal expenses are on a par with what it would cost if they were not living at home regardless of attendance at a college, so there’s no reason to place the burden on the proposal to resolve that issue.
Meanwhile, Phil Klein (whose face is the platonic ideal / mood board / concept art for the sort of person who has takes as bad as Phil Klein’s) continues to dig himself a hole…
11 Likes
Some universities require students (esp freshmen) to live in on-campus housing or dorms so that would be, in effect, an added mandatory expense to books and tuition.
I realize this is not an all-encompassing problem as there are lots of different college experiences - community college, distance learning, non-traditional campuses, etc…but addressing affordability in the traditional, 4-year, undergraduate, on-campus private or state run university system must include non-tuition costs in the equation as they tend to add up faster (and with less controls and fewer scholarships) than just tuition alone.
What I’d like to see is the “free college” proposals address the total costs of obtaining a degree - not just tuition. A substantial portion of student debt goes towards living expenses. For example, my son’s freshman year at the state university cost me around $28k for the year (2 semesters). Of that, almost $15k was for housing and meals. That’s not atypical.
11 Likes
I have a 529 for my kid. I got out of school completely debt free.
I’d like everyone else to have it as least as good as me.
11 Likes
8 Likes
Ah yes, who can forget the rousing chorus of “go fuck yourself!”…
20 Likes
I am unsure what your question here is. The money you contributed can be pulled from the account at any time without penalty … Taxes on it would depend on how you funded the account (Pre or post tax dollars). Any interest earned you will have to pay taxes on.
As for withdrawal of funds…there is a wide range for what are considered qualified expenses; additionally, you can change the name of the individual beneficiary…so if kid A doesn’t need it, switch it to kid B, or even yourself. And it can apply to post graduate education as well…so you can use those funds for your continuing education.
The only penalty is on the earned interest if all funds are pulled for non-qualified reasons and you simply close the account. You don’t pay a penalty on your contributions.
7 Likes
Elizabeth Warren would tell you the sky is green and the moon is made of cheese if she thought you’d help her break out of the bottom rung of all the currently running candidates that is the DNC sideshow.
Go back to bed, Mr. Inslee.
(No hard feelings or disrespect intended)
8 Likes
Yes, how dare she spend her time proposing concrete policies that would benefit millions of people and are widely popular? Doesn’t she know the way to win the nomination is to tell people not to dream too big, and triangulate your way to success by getting your photo taken with a dog and a pickup truck and hopping on countertops? 
27 Likes
Shitposters gotta shit.
17 Likes
I paid off mine, and just finished paying off my oldest daughter’s Parent Plus Loans.
I would LOVE for what Elizabeth Warren’s proposing to happen. It would be a HUGE boost to education.
I wouldn’t see it as unfair in the slightest.
I don’t get how these people think. "I had to suffer, so you should have to as well, all the way down to eternity. NO PROGRESS! NOTHING GETS BETTER! UNFAIR!!!"
Fucking hell.
24 Likes
