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re: Meet a single dad with $550,000 in student loans for his 5 children

Posted on 9/27/21 at 12:46 pm to
Posted by HubbaBubba
F_uck Joe Biden, TX
Member since Oct 2010
45905 posts
Posted on 9/27/21 at 12:46 pm to
quote:

Trevaylin
Father of The Year!
Posted by JackaReaux
BR
Member since Feb 2017
773 posts
Posted on 9/27/21 at 12:47 pm to
This is what I thought too.. Also, how did none of the kids get a scholarship?
Posted by LSUZombie
A Cemetery Near You
Member since Apr 2008
28920 posts
Posted on 9/27/21 at 12:49 pm to
quote:

Nope..... After high school they were on their own.... They were damn lucky to be fed & supported for 18 years


Congrats on doing the bare minimum, I guess
Posted by The People
LSU Alumni
Member since Aug 2008
4218 posts
Posted on 9/27/21 at 12:49 pm to
Dad must have inside information that Sleepy Joe is going to offer amnesty for those loans or makes a shite load of money.

No one else could be that financially ignorant.
Posted by V Bainbridge
Member since Jul 2020
7795 posts
Posted on 9/27/21 at 12:49 pm to
They will find good husbands there and he will pass the loans off to them. At least that's what he thinks will happen.
Posted by Dawgholio
Bugtussle
Member since Oct 2015
13047 posts
Posted on 9/27/21 at 12:50 pm to
Posted by Philzilla2k
Member since Oct 2017
11095 posts
Posted on 9/27/21 at 12:52 pm to
quote:

Would you do the same for your kids?

Not for a liberal arts degree. She wants to be an engineer, no problem, she wants to study female Russian novelist, she better save her rubles.
Posted by DomincDecoco
of no fixed abode
Member since Oct 2018
10924 posts
Posted on 9/27/21 at 12:54 pm to
OT: "somebody touches my kids, get a hole ready...they mean everything to me"

Same OT: "this dad is a complete idiot paying his kids college so they wont have the debt"
Posted by HDAU
Member since Nov 2014
1582 posts
Posted on 9/27/21 at 12:55 pm to
I think a smarter play would be to let the kids apply for the loans and feel the weight of the debt, then, as you are able, help pay them down. I haven't been in that position, and hope I won't.
Posted by Ronaldo Burgundiaz
NWA
Member since Jan 2012
6583 posts
Posted on 9/27/21 at 12:57 pm to
quote:

Clark was preparing to pay for his five kids' education as part of a two-income family, but he and his wife divorced in 2011.
His wife punched out just in time. Smart lady.
Posted by Mo Jeaux
Member since Aug 2008
59286 posts
Posted on 9/27/21 at 12:57 pm to
quote:

Not for a liberal arts degree. She wants to be an engineer, no problem, she wants to study female Russian novelist, she better save her rubles.


Eh. Isn't a better position for your child to have a viable post-graduation plan? Nothing wrong with a liberal arts degree per se.
Posted by GreatLakesTiger24
One State Solution
Member since May 2012
55960 posts
Posted on 9/27/21 at 1:00 pm to
quote:

I don't know that I'd go into that kind of debt, but, my wife and I are paying for our kid's college expenses. We have saved specifically for it since they were born, and asked the grandparents to make donations to their 529 plans in lieu of other gifts, plus we have kept the kids on top of grades for scholarship opportunities.

i don't have kids but i can't imagine not paying for their college expenses. my parents did it for me and theirs did it for them.
Posted by Dirk Dawgler
Where I Am
Member since Nov 2011
2540 posts
Posted on 9/27/21 at 1:01 pm to
Nope. That is idiot level over indulgence.

I have 4. Two in college and 1 sophomore in HS and 1 5th grader. I have paid a total of $6000 for my two college daughters. One is a 5th year ChemE at GT and the other a junior at West Georgia. They both have Zell Miller scholarship out of HS and have maintained it through college. They both knew they would have to work to pay for room and board and possibly take out some small student loans to pay the balance if needed. Proud of both of them for excelling and managing the process. I have helped when they really needed it but for the most part, they haven’t needed much.

My younger two know the formula and are working to emulate the paths that the older two have taken. They will get a boost here and there but they know that I am not going to saddle my wife and myself with college debt when they are perfectly capable of managing the process themselves if they do what we have taught them to do in regards to taking ownership and being responsible.
This post was edited on 9/27/21 at 1:02 pm
Posted by Sentrius
Fort Rozz
Member since Jun 2011
64757 posts
Posted on 9/27/21 at 1:07 pm to
If I'm one of those kids, I just don't know how I could live with myself watching my dad go through with this hell on my part, living like this and have a huge impact on his retirement.

I would want to be a good son and chip in as much as I can to help him out.

Those kids are assholes if they're not helping out their father.
Posted by HDAU
Member since Nov 2014
1582 posts
Posted on 9/27/21 at 1:10 pm to
Just scanned the article. Dude is pretty much saying that it is the government's fault for loaning him the money. He is the problem. Good luck, sir! I hope I don't have to pay for your terrible decisions with my tax dollars.
Posted by lsufb1912
Louisiana
Member since Aug 2021
5965 posts
Posted on 9/27/21 at 1:13 pm to
quote:

Once they get a full time job, I'd work out a way to get them to pay into it.


sounds like a dirtbag of a parent.
If you tell your kids that you're going to pay for their school, then you can't go back once they have money & ask them to help you pay for it now.
Posted by Devilsturn
Member since Aug 2020
253 posts
Posted on 9/27/21 at 1:16 pm to
Hell Na. Sister was a 4.0+ valedictorian with a 32 on her ACT in high school.

Wanted to go to Alabama, got in and they wanted 32k/year.

Dad denied sisters request to go and got paid to send her to LSU.

Sister ended up being salutatorian of her law school and a successful lawyer, but it’s dumb to take on hundreds of thousands of debt for an undergrad degree.

Love your kid, but teach them smart financial decision making is more important than getting to go to a particular school for 4 years. That father is doing his kids a disservice
Posted by ScottFowler
NE Ohio
Member since Sep 2012
4167 posts
Posted on 9/27/21 at 1:17 pm to
quote:

If you tell your kids that you're going to pay for their school, then you can't go back once they have money & ask them to help you pay for it now.


These kids should man-up and pay Dad back before he would even think of it. Should have never taken baby-boomer Dad's money at the get go.

And these people aren't "kids", they are adults and should be self-reliant.
Posted by Louie T
htx
Member since Dec 2006
36328 posts
Posted on 9/27/21 at 1:21 pm to
quote:

Nope..... After high school they were on their own.... They were damn lucky to be fed & supported for 18 years. There it is kiddos..... Go get it... The world is yours
Lmao. You're an idiot, and I'm in the camp that thinks parents are under no obligation to pay for college, particularly in cases where they don't have the means.
Posted by notbilly
alter
Member since Sep 2015
5087 posts
Posted on 9/27/21 at 1:28 pm to
quote:

Would you do the same for your kids?



I've been putting money into a 529 account since my kids were born. I will pay their way through school as long as they go in a reasonable degree program and have passing grades. If they want to frick off, they can take out loans like I did.
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