Carolyn's StoryWhen Carolyn's son, Joey, was 2, his grandparents announced they were setting aside money for his education. She and her husband, Joe, didn't know how much, but the money had time to grow, so they were optimistic. "We hoped it might even cover Joey's two younger sisters," she says. Photo by Shutterstock.
Flash forward 16 years, when they got the check…for almost $21,000. "We were so grateful," she says, but that amount worked out to only $6,900 for each child. Joe's construction business was hard-hit in recent years, so they'd only saved a few thousand. Meanwhile, Joey had been accepted at his dream school, a private college that would cost about $41,000 a year.
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HOW THIS HAPPENED
I completely understand why the Thurmonds didn't ask what dollar figure to expect when Joey's grandparents first made their offer: Money is an awkward topic, period-never mind when you're receiving a large gift.