Do I have enough money for college? Is this fair for the amount I contribute to my son?
My son wants to go to an out of state college next year, which has a "sticker price" of $45,000 per year (Indiana University) I'm divorced and on a teacher's salary. My ex and I have built up college savings of $40,000, so that will cover one year of college. As far as the rest, my ex proposed that our son pays for one year of college, I pay for another year and my ex pays the other. I don't have a lot saved at all: about $10,000. So, that would mean big college loans for me. I'm sure my ex can afford more, he makes over $200,000. Do I have an argument if I propose my ex pay more toward college since he makes more? Going to an in state college could be the route my son will need to go; but before so, I want to look at my options.