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Started By
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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 4:11 pm to Street Hawk
Posted on 9/27/21 at 4:11 pm to Street Hawk
4 is my favorite.
0
Posted on 9/27/21 at 4:13 pm to Street Hawk
quote:
Just a few years later, when the children started going to college, he decided to turn to federal loans to finance their education himself.
What is terrible fricking decisions for 1,000, Alex? I want to feel bad for the guy ,but my goodness when your kids graduate high school let them figure it out. This is why we have so many useless people in my generation and the one after it. These kids don't know any type of struggle and it is making people weak and stupid. You have to let young adults figure it out and quit coddling them.
Posted on 9/27/21 at 4:17 pm to stelly1025
I mean, he took out the loans. He can pay it back. It's not like he didn't know what he was doing.
Posted on 9/27/21 at 4:22 pm to Street Hawk
When those kids graduate they should be paying for their own education and not leave their father in major debt. That’s just wrong.
Posted on 9/27/21 at 4:25 pm to kywildcatfanone
quote:
I mean, he took out the loans. He can pay it back. It's not like he didn't know what he was doing.
Taking out over half a million and putting yourself in a bad financial situation to pay for something that is not really worth it anymore is just not smart.
Posted on 9/27/21 at 4:30 pm to Street Hawk
What happens to the $300,000 balance when he dies????
Posted on 9/27/21 at 4:37 pm to Street Hawk
Yeah, each kid would get maybe 5-10k support from me, and the rest is on them. If they didn't graduate, and it wasn't a health or some other crazy situation, they'd owe me my money back.
Posted on 9/27/21 at 4:44 pm to kywildcatfanone
there are some really ignorant takes in this thread about the costs of college in 2021
I made the same deal with my kids that my dad made with me. I pay their undergrad, they are on their own for grad school. We saved in LA as much as we could, but we also assumed our kids would go to LSU on TOPS. I got transferred to TX in 2013 right before my kids started HS. So we had a change of plans
my two kids are seniors at the University of Texas at Austin. Instate Tuition is $5,212 per semester. $10,424 x 2 kids = $20,848 per year. For a top 50 school that is pretty cheap.
Great public school, no OOS or private BS and still costs me $20k in tuition. As an upper middle class white kid, you aint getting a "scholarship" to a Texas Big public University unless you are some sort of prodigy or high level athlete
My daughter lives in an apartment in west campus for $1000/month. To get anything cheaper than $900/mnth you have to get pretty far from campus in some pretty shady areas which means you also have to have some sort of transportation or access to the MTA. ($12,000)
She is in a program that eliminated online classes as quickly as they could, so she has had to stay in Austin. We help her pay for groceries.
My son has finagled a way to live at home and take online classes for as long as he can, so he is saving us the living expenses for last year and this year (so far - Fall 21). He will have to be on campus in Spring 22 to graduate.
Neither one has a car, both have jobs, both make their own spending money.
So I am on the hook for $33,848 in tuition for two and rent for one and I haven't started with food, travel home, fees, books or anything else.
my plan is to just pay whatever the final student loan debt tally is in chunks as quickly as possible.
I made the same deal with my kids that my dad made with me. I pay their undergrad, they are on their own for grad school. We saved in LA as much as we could, but we also assumed our kids would go to LSU on TOPS. I got transferred to TX in 2013 right before my kids started HS. So we had a change of plans
my two kids are seniors at the University of Texas at Austin. Instate Tuition is $5,212 per semester. $10,424 x 2 kids = $20,848 per year. For a top 50 school that is pretty cheap.
Great public school, no OOS or private BS and still costs me $20k in tuition. As an upper middle class white kid, you aint getting a "scholarship" to a Texas Big public University unless you are some sort of prodigy or high level athlete
My daughter lives in an apartment in west campus for $1000/month. To get anything cheaper than $900/mnth you have to get pretty far from campus in some pretty shady areas which means you also have to have some sort of transportation or access to the MTA. ($12,000)
She is in a program that eliminated online classes as quickly as they could, so she has had to stay in Austin. We help her pay for groceries.
My son has finagled a way to live at home and take online classes for as long as he can, so he is saving us the living expenses for last year and this year (so far - Fall 21). He will have to be on campus in Spring 22 to graduate.
Neither one has a car, both have jobs, both make their own spending money.
So I am on the hook for $33,848 in tuition for two and rent for one and I haven't started with food, travel home, fees, books or anything else.
my plan is to just pay whatever the final student loan debt tally is in chunks as quickly as possible.
This post was edited on 9/27/21 at 4:49 pm
Posted on 9/27/21 at 4:48 pm to Misnomer
quote:
When those kids graduate they should be paying for their own education and not leave their father in major debt. That’s just wrong.
I'm split because obviously they're pieces of shite if they go on to financially comfortable lives and let their dad struggle... but also, the dad was the one with the benefit of life experience and should not have taken on more than he could handle for any reason. The kids could have gotten their own loans or made other choices if he had not offered this ridiculous gift to them.
Posted on 9/27/21 at 4:54 pm to Larry_Hotdogs
quote:
This is why mine are in sports
So is Braxton any good?
Posted on 9/27/21 at 4:56 pm to Misnomer
They're probably not looking at any inheritance
Posted on 9/27/21 at 5:06 pm to supatigah
quote:
my two kids are seniors at the University of Texas at Austin. Instate Tuition is $5,212 per semester. $10,424 x 2 kids = $20,848 per year. For a top 50 school that is pretty cheap.
Great public school, no OOS or private BS and still costs me $20k in tuition. As an upper middle class white kid, you aint getting a "scholarship" to a Texas Big public University unless you are some sort of prodigy or high level athlete
My daughter lives in an apartment in west campus for $1000/month. To get anything cheaper than $900/mnth you have to get pretty far from campus in some pretty shady areas which means you also have to have some sort of transportation or access to the MTA. ($12,000)
Should have got a shitty apt and shoved both your kids in there.
shite Im in my 30s and only pay $800/month on rent and that includes everything.
Posted on 9/27/21 at 5:32 pm to Street Hawk
What a maroon! He'll be paying on this for the next 20 years.
Posted on 9/27/21 at 5:33 pm to Street Hawk
So many bad decisions. When you have 5 kids and haven’t saved for college, there are cheaper routes. Plus those kids are a-holes if they don’t at least help him pay it back. Plus where is the mom in all this? He chose poorly.
Posted on 9/27/21 at 5:36 pm to Rick9Plus
quote:If you can't convince the non-custodial parent to cooperate in filling out the FAFSA or CSS applications, you and your kids are effectively fricked for any kind of need-based financial aid or subsidized loans in their names.
Plus where is the mom in all this?
This post was edited on 9/27/21 at 5:59 pm
Posted on 9/27/21 at 5:40 pm to Miketheseventh
quote:
So is Braxton any good?
No travel ball for me, baw. All daughters.
Posted on 9/27/21 at 5:44 pm to Street Hawk
Super Cuck
Posted on 9/27/21 at 6:01 pm to Larry_Hotdogs
Give them golf clubs, easiest title IX ride out there
Posted on 9/27/21 at 6:11 pm to Street Hawk
quote:
It's not as if Clark's children went to the most expensive schools in the country. Three of them went to small schools in Pennsylvania, where Clark lives, and the other two went to other state schools on the East Coast. But even for public universities, tuition costs have been soaring for years.
Small schools = private and expensive.
State schools can be expensive as well especially the top name ones like UNC. Plus when you add in housing, etc.
We've started having this conversation with my oldest who is in 8th grade.
I will pay for 2 years of community college and 2 years of four-year school to complete an undergrad degree. I will pay for tuition, fees, books.
She can continue to live at home, and I will pay her living expenses at home. I will also give her enough money each week or whatever to pay for her gas to commute from home to school and back each day.
If she wants more than that, she will need to get a scholarship and/or borrow.
Posted on 9/27/21 at 6:14 pm to AUCE05
quote:
Already told mine unless you get a scholarship, it is community College then UAB. Good luck.
Same, my kids got two years of college dirt cheap, and community college, then transferred to large state schools taking advantage of lower in state tuition, enabled us to pay for it out of pocket with no loans.
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