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Message
re: The wife and I made a difficult decision this weekend
Posted on 8/12/18 at 11:11 pm to PrivatePublic
Posted on 8/12/18 at 11:11 pm to PrivatePublic
How old are your kids? When did you start saving for them?
I don’t have kids but if I did I figure I have 18 years to save for college and will start before they are born. Private school for K-12 would cost me over 100k. I think I would move to the suburbs and use that money for their college instead.
I don’t have kids but if I did I figure I have 18 years to save for college and will start before they are born. Private school for K-12 would cost me over 100k. I think I would move to the suburbs and use that money for their college instead.
0
Posted on 8/12/18 at 11:11 pm to Pelican fan99
quote:
Not helping your kids in college is pretty shitty parenting
Parenting does not mean giving you shite. Parenting is now over. Life now begins. Welcome to the real world. Happy Birthday
Posted on 8/12/18 at 11:12 pm to northshorebamaman
quote:
It's not just you.
I was fortunate enough to have a dad that paid my tuition. He wouldn't pay for an apartment (and I don't blame him) or anything but we lived 10 miles from LSU. Granted my annual tuition was probably 2.5k back then.
I'm going to take the same strategy with my daughter. She can live at home and I'll help her with transportation and school expenses. Otherwise it's on her.
Posted on 8/12/18 at 11:12 pm to Mike da Tigah
quote:
Parenting does not mean giving you shite. Parenting is now over. Life now begins. Welcome to the real world. Happy Birthday
Posted on 8/12/18 at 11:13 pm to Mike da Tigah
quote:
Since when did a college education ever become the responsibility of parents anyway?
It obviously isn’t an obligation, but now a days deciding not to provide at least significant help is a decision to knowingly set them at least a decade behind the curve.
It’s a difficult hurdle for them to surmount on their own. Although one potential recovery point is to help them “catch up” by offering assistance on their first house. Maybe invest and save to look to pay off one or two loans years after graduation and their life stabilizes so their DTI isn’t as damaging to their application.
You don’t have to tell them you are planning this, Force them to figure it out on their own. But IMO, the move into a house is the most damaging long term aspect of student loan debt.
The OP is 100% right to not put retirement under it though.
It’s just a cautionary tale to start building a nest egg as soon as possible. People continually underestimate the power of time in the market, and in many cases (don’t know if it’s the case here) don’t even start thinking about college till they have 3 kids already and the oldest is seven.
You would need to put aside on the order of 600/month to realistically fund college for that. Compared to around 250/month if you started when you found out she was pregnant or even better: when you decided to try having kids.
This post was edited on 8/12/18 at 11:22 pm
Posted on 8/12/18 at 11:14 pm to PJ250R
quote:
I’m happy my parents didn’t help me out eta: with tuition. I’m better for it and happy my selfless parents are spending their hard earned money on my kids, which brings them joy.
College probably cost 1/10 of what it does now when you were there. With no help at all even with tops kids are going to have several 10s of thousands of dollars in loans upon graduation. Then you're going to bitch at them because they don't have any money to buy a house until theyre 40.
Posted on 8/12/18 at 11:15 pm to SeabrookTiger
quote:
figure out how to get free or almost free schooling.
I live in N. MS and two years of Jr. college is free to every high school graduate in about 8 counties. It amazes me that people don't take full advantage of it and pay for 4 years at Ole Miss or State.
Posted on 8/12/18 at 11:16 pm to PrivatePublic
Way to put your kids in the hole as soon as they enter adulthood. 
Great parenting! True love.
Great parenting! True love.
This post was edited on 8/12/18 at 11:17 pm
Posted on 8/12/18 at 11:17 pm to Houma Sapien
quote:
Every doctor I know started off with "heavy debt." I came out of college with 4 years worth of student loans and I'm doing just fine.
LOL...I guess I missed in the OP where he stated he wouldn't pay for med school. I thought it said college...oh wait
Dont be a dumbass
quote:
travel ball type dads
Not sure what the hell that means.
quote:
you have no kids at all.
I have 4, genius
0 for 3...but keep swinging
What a dumb frick
Posted on 8/12/18 at 11:17 pm to PrivatePublic
quote:
That being that we will not be paying for our kids college.
Mkes me thankful that my parents paid for undergrad and grad school
quote:
We crunched numbers all day Saturday and it would just eat too much of our retirement. Luckily she is on the same page as me on this: we don't have to sacrifice our future for something adults can obtain on their own.
now i know why anglo kids put their parents in old folks homes.
Posted on 8/12/18 at 11:18 pm to PrivatePublic
Find a side hustle like Lyft, Uber, Waitr, waggle (dog walking service), postmates. Endless options these days.
Posted on 8/12/18 at 11:19 pm to PrivatePublic
Parents are college income earners, so I'm assuming at minimum $45K/yr each.
How about the parents work an extra yr into retirement to help the kids out.
How about the parents work an extra yr into retirement to help the kids out.
Posted on 8/12/18 at 11:20 pm to HottyToddy7
quote:
Help them with rent and gas money.
Where do people get the nerves to tell others how to parent
Posted on 8/12/18 at 11:20 pm to ellishughtiger
quote:
Find a side hustle like Lyft, Uber, Waitr, waggle (dog walking service), postmates. Endless options these days.
Maybe OP has 5 kids? That would be a severe strain on most. My dad had 3 at LSU at once (pre TOPS) but tuition wasn't 6k per semester back then either.
Posted on 8/12/18 at 11:21 pm to ellishughtiger
So what about a daughters wedding ? Gotta pay that 20 grand plus. The OT did t consider that part....
Posted on 8/12/18 at 11:21 pm to lsu xman
quote:
How about the parents work an extra yr into retirement to help the kids out.
How about not telling someone you don’t even know to work an extra year into retirement
Posted on 8/12/18 at 11:21 pm to PrivatePublic
I guess putting away ~3k a year for 18 years was not on the table when you had kids?
Posted on 8/12/18 at 11:22 pm to Cosmo
quote:
What kind of cars do you drive?
If you are willing to buy an f250 for yourself and a tahoe for your wife but wont pay for college you are kinda a bitch
OP owns a pool, which is a great way to spend money
Posted on 8/12/18 at 11:22 pm to GeorgeTheGreek
quote:
Great parenting! True love.
This isn't necessary. People have different philosophies on this and both sides have good points. I was expected to finance my own education and I feel better for it. I'm taking the same approach with my kids.
Posted on 8/12/18 at 11:23 pm to ellishughtiger
quote:
Find a side hustle like Lyft, Uber, Waitr, waggle (dog walking service), postmates. Endless options these days.
Tell his kids to find a side hustle
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