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re: Son’s college savings account has lost $6351.75 this year so far.

Posted on 5/19/22 at 11:46 pm to
Posted by LSUtiger89
Baton Rouge
Member since Dec 2007
3639 posts
Posted on 5/19/22 at 11:46 pm to
There is a limit, but no it can be used to pay back loans also.
Posted by leeman101
Huntsville, AL
Member since Aug 2020
1502 posts
Posted on 5/20/22 at 7:08 am to
If a kid makes decent grades, the amount of academic scholly money schools like AU, bama and others are giving out you won't need much.
Posted by Gaston
Dirty Coast
Member since Aug 2008
38972 posts
Posted on 5/20/22 at 7:48 am to
Auburn is $56k/yr for out of state tuition. We live on the MS gulf coast.
Posted by I Love Bama
Alabama
Member since Nov 2007
37715 posts
Posted on 5/20/22 at 7:54 am to
For the life of me, I don't understand why parents push college on their kids vs learning to code or an online skill or a physical trade.

The ROI for college does not exist anymore. Time to think outside the box.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 5/20/22 at 7:54 am to
quote:

The ROI for college does not exist anymore.


Of course it does
Posted by I Love Bama
Alabama
Member since Nov 2007
37715 posts
Posted on 5/20/22 at 8:04 am to
quote:

Of course it does


This argument is like saying investing in gold has an ROI.

Yes, maybe it does. But it is insignificant.

You can learn coding on yourtube or a bootcamp and make more money than almost all degrees with 4 years of college.

It's really not debatable.
Posted by Gaston
Dirty Coast
Member since Aug 2008
38972 posts
Posted on 5/20/22 at 8:07 am to
That’s a sad outlook.

Getting physics and engineering degrees from LSU was just part of the journey. You learn to love and make real friends, take month long road trips and free climb 1000’ spires…met my wife while she was waiting tables at the Chimes and we moved to San Francisco, just the two of us, after graduation…way to much value, to me, to ever summarize.

You teach your kid to code, I’ll teach mine that there’s more to life than making money.
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 5/20/22 at 8:14 am to
quote:

You can learn coding on yourtube or a bootcamp and make more money than almost all degrees with 4 years of college.


That may be true, but you can make more money with a handful of degrees than you can with coding.

Just because there's five women's studies and general studies options for every STEM degree doesn't mean college isn't worth it.

Every single study ever still proves that college educated workers make more money than non college educated. And that's magnified if you get a desirable degree
Posted by GeauxTigers123
Member since Feb 2007
1319 posts
Posted on 5/20/22 at 4:41 pm to
IDK what girls can do without a college degree, but there are options for guys. Just employed plumbers with some experience make 100k+. I would still encourage smart kids to go to college and major in something worthwhile, but I don't think it is worth it to rack up debt for an anthropology degree.
This post was edited on 5/20/22 at 4:42 pm
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 5/20/22 at 6:03 pm to
quote:

Every single study ever still proves that college educated workers make more money than non college educated. And that's magnified if you get a desirable degree


No argument about that, but roughly 40% of the people that enter college do not finish. They wasted a lot of time and money being there. We must have a system to better identify the aptitude of students early and put them on the appropriate education path.
Posted by tigersfan1989
Baton Rouge
Member since Oct 2018
1265 posts
Posted on 5/20/22 at 7:52 pm to
I’ve worked at a desk early in my career but made the jump to a trade after a few years. The desk job I had required a 4 year degree and I would definitely say my quality of life was better with the desk job but the pay was roughly a third of what I’m making right now in my trade. Not everyone is built to work outside everyday especially in this Louisiana heat and the work is much more labor intensive than my desk jockey job was. I am enjoying the money but it is much harder work and will be more difficult to maintain when I enter my 50s. On the other hand the desk jockey can easily work into their mid to late 60s. Yes a trade can provide you more money but it’s not as easy as some make it seem. There is piece of mind having a desk job and still valid 4 year degrees that can get you that for decent pay. That being said I’m also saving for my kids to get a 4 year degree in hopes they will have that option.
This post was edited on 5/20/22 at 7:54 pm
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 5/20/22 at 8:01 pm to
quote:

I’ve worked at a desk early in my career but made the jump to a trade after a few years.


I made 3x of my starting salary after 4 years. That's how it works.

quote:

it is much harder work and will be more difficult to maintain when I enter my 50s. On the other hand the desk jockey can easily work into their mid to late 60s.


At least you realize this.
Posted by GeauxTigers123
Member since Feb 2007
1319 posts
Posted on 5/20/22 at 9:23 pm to
Your salary as a CPA tripled after 4 years? I’m not saying I don’t believe you, but that’s not how my cpa friends have described it.
This post was edited on 5/20/22 at 9:24 pm
Posted by Mingo Was His NameO
Brooklyn
Member since Mar 2016
25455 posts
Posted on 5/20/22 at 9:25 pm to
quote:

Your salary as a CPA tripled after 4 years?


Yes. Well it's just short of triple by about 4%, but yes
Posted by GeauxTigers123
Member since Feb 2007
1319 posts
Posted on 5/20/22 at 9:35 pm to
That’s awesome congrats. I didn’t think that was typical according to me friends.
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