He Wants To Use $50,000 Of His Daughter’s $150,000 College Fund To Repair Their Home From Storm Damage, But Now Both His Daughter And His Own Parents Are Berating Him
When you’re a parent who values education, you know how important it is to begin saving up for your kid’s education or college fund as soon as possible.
One man raised a lot of money for his daughter’s college fund but now wants to use a portion of it to repair the damage their home suffered in a storm. However, his daughter and parents are strongly against that.
He and his wife have a daughter who will attend college in a few years. They’ve worked hard to save over $150,000 and put it in a college fund for her. He believes it should be enough money for her tuition and other school expenses. She should even have enough money left after school to go toward big living expenses post-grad.
Unfortunately, they may need to use some of those funds for something other than college.
“A couple of weeks ago, we had a big storm, and unfortunately, a tree fell over,” he said.
“[It] damaged our roof, one of the rooms, a couple of windows, and [there’s] some water damage as well. We will basically have to pay out of pocket to fix everything [and] the legal matters will take a couple of months. I can’t wait that long before fixing our house.”
His family’s insurance refused to pay for the damages for several reasons he feels are unjustified and will be fighting against. However, he needed a way to repair his house as soon as possible, and he had the idea to take some from his daughter’s college fund. She won’t be going to school for a few more years, so he thought it was appropriate.
“My wife [and I] sat her down and explained the situation to her,” he recalled.
“[We] told her we want to use some of her college fund to fix the house, and every penny that we spend will be paid back to the fund over the next two years, and if the insurance company is forced to pay [us], it will be paid back sooner. She wasn’t happy with this and told us that she was under the impression that we would turn over the full amount to her when she went to college.”
Studio Romantic – stock.adobe.com – illustrative purposes only, not the actual person
He told his daughter there was no way he would simply hand over $150,000 to an 18-year-old. He also mentioned that he and his wife wouldn’t take out more than $50,000 for the repairs, and she’d still be able to go to college on time.
His daughter was still upset that the money wouldn’t be going straight to her, and he and his wife explained that they still expected her to get a part-time job during school, as they wouldn’t cover every single one of her personal expenses.
After their conversation, he got an angry phone call from his parents, whom his daughter must’ve complained about the money to.
They scolded him for trying to take away his daughter’s money. Although he told them the same things he told his daughter, they weren’t having it.
Now, he’s feeling overwhelmed, as his daughter and parents are against him, but he needs to fix his house as soon as possible.
Should he take the repair money despite his family’s protest or come up with another plan?
You can read the original post on Reddit here.
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