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re: The wife and I made a difficult decision this weekend
Posted on 8/13/18 at 6:24 am to PrivatePublic
Posted on 8/13/18 at 6:24 am to PrivatePublic
In my household, it's either saving for college or paying for travel ball. We choose travel ball. That D1 scholarship is just a few more private lessons away.
0
Posted on 8/13/18 at 6:28 am to PrivatePublic
Did you not save for this?
Posted on 8/13/18 at 6:31 am to PrivatePublic
GI Bill and subsequent college grad checking in. Do what you can. The reality is that there are other options. Good luck.
Posted on 8/13/18 at 6:40 am to PrivatePublic
So you boomers ruin the economy for us millennials and now you won’t even pay for our college?
Posted on 8/13/18 at 6:43 am to PrivatePublic
I can’t belive all the people on here claiming to have paid for school by themselves and how many think parents don’t owe their kids anything.
Unless you were poor enough to get govt assistance or student loaned the whole thing what 18 year old makes enough to pay for college and support themselves? That’s a lot of hours at the Gap or shifts at the Olive Garden.
I went to a private school in the northeast and I never met a student paying their own way. My school didn’t allow for part time either. So it was either full time or you didn’t go there. Many schools are like that. That is also why many of them don’t allow students to have non school jobs. Still most schools cost more than $20k, how is the average teen supposed to afford that?
What parent wouldn’t want their child to have the best opportunity at the best schools? Can you argue that all college degrees are worth the same? Look at income rates based on schools, there are certainly schools that graduates earn more than others.
I’m also not opposed to other routes than college but that shouldn’t be the parents decision. I also think parents should help their kids get a start in life. I don’t get people who think you raise them until 18 and then their on their own. I guess that’s how it is in the lower class world.
The OP is a shitty parent IMO.
Unless you were poor enough to get govt assistance or student loaned the whole thing what 18 year old makes enough to pay for college and support themselves? That’s a lot of hours at the Gap or shifts at the Olive Garden.
I went to a private school in the northeast and I never met a student paying their own way. My school didn’t allow for part time either. So it was either full time or you didn’t go there. Many schools are like that. That is also why many of them don’t allow students to have non school jobs. Still most schools cost more than $20k, how is the average teen supposed to afford that?
What parent wouldn’t want their child to have the best opportunity at the best schools? Can you argue that all college degrees are worth the same? Look at income rates based on schools, there are certainly schools that graduates earn more than others.
I’m also not opposed to other routes than college but that shouldn’t be the parents decision. I also think parents should help their kids get a start in life. I don’t get people who think you raise them until 18 and then their on their own. I guess that’s how it is in the lower class world.
The OP is a shitty parent IMO.
Posted on 8/13/18 at 6:44 am to 3oliv3
quote:
Do not let your child get saddled with debt.
Or teach your child to prepare for this. I don't enjoy my student loans... but I enjoy knowing that I paid for everything I could have up front, and will pay off the loans I have 5 years after I graduated.
It's also nice to know that I didn't have to rely on my parents for that. It's like digging holes... builds character.
Posted on 8/13/18 at 6:46 am to PrivatePublic
529 plan when they are born baw. Other than that, they can cover the rest.
Posted on 8/13/18 at 6:50 am to PrivatePublic
Are you Caucasian? Do you and your wife both work?
Just an FYI, your kids are going to have a hard time qualifying for low interest loans if the above is true. Student loans “assume” non-minority parents are going to help pay for school and basically penalize student borrowers when their parents don’t.
Just an FYI, your kids are going to have a hard time qualifying for low interest loans if the above is true. Student loans “assume” non-minority parents are going to help pay for school and basically penalize student borrowers when their parents don’t.
Posted on 8/13/18 at 6:50 am to PrivatePublic
comgrats on being selfish pos parents i guess.
Posted on 8/13/18 at 6:52 am to Jp1LSU
quote:
The OP is a shitty parent IMO.
I'm betting most people who think this don't have kids, and never will.
Posted on 8/13/18 at 6:57 am to PrivatePublic
Doesn’t tops still pay for college if your kid is smart enough?
Mine gets my 9/11 GI Bill. Plus the money we save up for college will mean he doesn’t have to work 30-40 hrs a week and go to school full time like a lot of us did.
Mine gets my 9/11 GI Bill. Plus the money we save up for college will mean he doesn’t have to work 30-40 hrs a week and go to school full time like a lot of us did.
Posted on 8/13/18 at 6:58 am to RogerTheShrubber
Adequately saving for retirement is the most important financial decision a parent can make. The burden of financially supporting aging parents would be a lot higher than a few years of student debt.
This post was edited on 8/13/18 at 7:00 am
Posted on 8/13/18 at 6:59 am to PrivatePublic
(no message)
This post was edited on 6/14/20 at 7:58 pm
Posted on 8/13/18 at 7:04 am to urinetrouble
quote:
Your kids getting college degrees debt free
When did this mentality shift from a luxury for the 'haves' like a trip to Disney to an expectation like school supplies/tuition for the 13-18th grades?
frick kids. Wanna go to college? Earn it.
This post was edited on 8/13/18 at 7:05 am
Posted on 8/13/18 at 7:04 am to Ricardo
I also believe there are life insurance policies you can take out on your children that you can then sign over to them at eighteen and they can borrow against for college. I don’t know all the specifics but you would in essence just be paying money back into your policy. I could be wrong though on this.
Posted on 8/13/18 at 7:06 am to PrivatePublic
We have 4 kids and have chosen for my wife to stay at home and homeschool the kids. We put some money in a 529 when we hat two incomes but it will probably only cover one kid if that much. We’ll reassess every year but I doubt we will ever be able to pay for all of college. My strategy at this point is to give them a great education at home and show them how to be fiscally responsible. Hoping the rest will take care of itself. If they can’t get a scholarship maybe trade school is the best option. College is way too expensive for what you get these day anyways.
Posted on 8/13/18 at 7:07 am to PrivatePublic
It sounds like OP planned for retirement long ago but didn’t plan for his kids’ education. The OP didn’t include enough info to really see what is going on here but it sounds like he and his wife waited too long to make this decision.
It doesn’t have to be an all or nothing deal. It’s not that expensive to pay for an in-state regional school like Southeastern or Southwestern (ha!) while the kids still live at home. If the kids decide that a regional school isn’t good enough for them, you can give them the amount of tuition money that the regional college would cost and let them apply it somewhere else.
OP and his wife can choose to raise and support their kids however they please and we shouldn’t judge. For me, I’d rather die of a heart attack in a cubicle while working for my kids’ education than worry about my own retirement.
It doesn’t have to be an all or nothing deal. It’s not that expensive to pay for an in-state regional school like Southeastern or Southwestern (ha!) while the kids still live at home. If the kids decide that a regional school isn’t good enough for them, you can give them the amount of tuition money that the regional college would cost and let them apply it somewhere else.
OP and his wife can choose to raise and support their kids however they please and we shouldn’t judge. For me, I’d rather die of a heart attack in a cubicle while working for my kids’ education than worry about my own retirement.
Posted on 8/13/18 at 7:11 am to CPT Tiger
quote:
Doesn’t tops still pay for college if your kid is smart enough?
You don’t have to be very smart to get tops and that’s the main reason it isn’t sustainable
I started saving for my kids college when they were born
Posted on 8/13/18 at 7:16 am to PrivatePublic
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
I would like to know how old your children are. Because if one of them is 18 or close to it, good going. You two obviously haven’t given a single thought to their future and have been spending money that should’ve been saved for them to not have a heavy debt burden upon graduation of college. Great parenting from the two of you.
I’m sure they’ll understand though.
Posted on 8/13/18 at 7:17 am to lowhound
quote:
529 plan when they are born
This. We literally began saving just three days after our kid was born. Not gonna pay for all of it, but it will sure as hell pay for most of it.
I think a lot of it has to do with expectations. We always expected our kid to go to college, so we prepared as best we could, and it hasn't taken away from our saving for what we want to do later in life.
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