Independent 529 plan

[pianistimo]

i heard on the radio that some parents pre-pay tuition and get better rates on classes.  but, how many years ahead can you do this?  if i pay today's rate - will this count three years from now?  in other words, how do i know how the money will be allocated in that long of period of time?  accountants?

as i see it, there are several options:
hire your kid  (on the chance they will spend it all on something else)
coverdale education plan (earnings grow tax free - and something like 11,000 is granted per person - including grandparents ?)
pre-paid tuition

now, some of these sites say that if a school sees you have money -(pre-paid tuition) you are less likely to get financial aid.  is this a bad thing - considering the student loan defaults and the higher and higher interest rates to pay them back?  perhaps one's own money is better? 

advice?  other parents?  teachers?  (imagine teachers see and hear it all)

[jpianoflorida]

we have a "bright futures" program in florida.....students who maintain a good gpa and do a certain number of hours of community service can get all their tuition paid for at our local colleges..it's a great program.

[pianistimo]

i'm happy to say - that my daughter will probably get her tuition paid, as well, because she's got basically a 4.0.  but, my son might need some aid - but i'm thinking of pre-paying some local uni - and then he'll already have some classes paid for?  but, i don't want to hinder the financial aid if he needs it, too.  so -- am just sort of hemming and hawing and thinking - ok. just save it and don't spend it yet.

[pianistimo]

after going through almost all the pennsylvania colleges on the independent 529 plan - i came up with (ie least expensive) york college (somewhere in no man's land) for only 10,000 per year  and drexel (somewhere in the middle at $26,000 per year) and located in philly.  of course, i don't think my son would want to commute every day - so maybe a friend who already attends right now would put him up for less than the dorms on days that he doesn't want to drive home.

question.  drexel probably has a pretty good information technology degree program - but if my son has average SAT scores - will they likely accept him if i've paid into the 529 account - or do you think there's a chance that they will need prodding and to apply several years early for some kind of summer class or something to get a foot in the door? how do you get a foot in if the grades are average?  he is highly interested in the computer but not so much in book learning.  if he has to read the assigned pages and write - he uses very small sentences and does the minimum.  i think it likely that he will be very enthusiastic over computer classes, though.  i'm really wondering what to do?  to spend more - or spend less - and have money left for dorm and food?  i mean, if he went to york (which i know nothing about yet) everythings covered and perhaps kids need to get away from home anyways?

[pianistimo]

if he doesn't get accepted at drexel - what to do?  he really likes gaming.  and, he's said several times he wants to be game designer.  but, i don't think that's a livable income.  am i wrong?  should i push the i.t. degree?  how hard is drexel uni to get into?  he mentioned some uni in maryland - but that sounds more expensive and not less.  for one thing, he would have to wait a year to be a resident.  how do students typically overcome this residency thing?

also, drexel now has this e-learning or long distance learning (basically at home) online classes for information technology.