tag:blogger.com,1999:blog-4506281235722645086.post3075402124295778354..comments2021-12-14T06:02:36.972-05:00Comments on Paid it Down: School tuition ruining your financial life?Sharonhttp://www.blogger.com/profile/13940623529019637336noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-4506281235722645086.post-43308877845470638412012-06-11T18:13:46.433-04:002012-06-11T18:13:46.433-04:00I think it is so wrong to go into debt to pay for ...I think it is so wrong to go into debt to pay for our children's college education. Not only does it put the parents at risk financially, but if any loans are taken out, the interest rate to repay those loans are horrific and can often take years and years to pay off, oftentimes doubling or tripling the cost of the initial loan. Just crazy.<br /><br />I like what Ron Paul said once during one of his town meetings - one of the college aged kids asked him, "So if you don't recommend taking out a government loan to pay for college, then how does one go to college?" He smiled and said, "You work and pay for one class at a time - that's how we did it "back then"." I liked his answer. <br /><br />Today everything is about instant gratification. We have failed to teach our kids the value of hard work and money -- saving for things, doing things the right way without relying on others to foot our bill....<br /><br />I think you're definitely on the right track!Lizhttps://www.blogger.com/profile/11797873691344542060noreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-29841239169571324362008-12-03T00:26:00.000-05:002008-12-03T00:26:00.000-05:00i agree that going to an expensive school is unnec...i agree that going to an expensive school is unnecessary. there are so many good state schools, and a lot of scholarships and grants available. part-time is also not a bad thing.<BR/> but i'm disturbed by the comment from letters to elijah. it isn't that it's "wrong", but given how troubled marriages can be, shouldn't a girl be able to take care of herself (which often involves a college degree)? <BR/><BR/>i could also point out statistics that show how much better societies are when girls (specifically) are educated. we call it the "girl effect" and it's a phenomenal measure of how important it is to allow women the same opportunities as men.<BR/><BR/>all that being said, if a girl doesn't want to go to college, that's her call. but the same applies to boys. i'm all for equal opportunity debt. :)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-35333792518179592602008-11-29T08:30:00.000-05:002008-11-29T08:30:00.000-05:00Sorry, I didn't answer your question. My nephew i...Sorry, I didn't answer your question. My nephew is the same age of my son and SIL and BIL took out a second mortgage on their house to pay first year tution. Don't know what they plan to do for the next 3 years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-5409164923327258032008-11-29T08:28:00.000-05:002008-11-29T08:28:00.000-05:00My son decided to go with his second choice school...My son decided to go with his second choice school because they offered him a full academic scholarship. He realized it didn't make since to throw that money away. He works during the summer for his spending money. I pay for car insurance, contacts, and even give him money for trips since I have paid zero for his college. Even his books are included in the scholarship.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-68841412234423801642008-11-26T15:33:00.000-05:002008-11-26T15:33:00.000-05:00Hi Sharon - I paid my way through college and grad...Hi Sharon - I paid my way through college and grad school. Undergrad took me 9 - yes, 9! - years to complete because I went parttime and worked full-time, taking advantage of my company's tuition reimbursement benefits. I went to a private university and graduated debt free. I wound up having $15K in law school debt, but still managed to pay $45k tuition by working full time, living cheaply and going at night. My husband got his degrees the same way.<BR/><BR/>We are saving some for our girls, but at best they may have enough for CT state schools, which are very good. Any more and they will have to find a way to pay. My best friend's daughter is going to a state university, and I know how relieved she was when that was her daughter's choice.<BR/><BR/>I want my girls to get the best education possible, but reality is we won't be able to afford an expensive private school. Most importantly, is what they do with the degrees once they graduate. Going to a private university doesn't guarantee success.CT Momhttps://www.blogger.com/profile/13540680943713937060noreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-83086566184457286612008-11-26T14:33:00.000-05:002008-11-26T14:33:00.000-05:00This country is so over educated it's crazy! Some...This country is so over educated it's crazy! Sometimes you get the job because your resume was in the right pile strictly because of a degree. It doesn't make sense. <BR/><BR/>On another note: and I know most won't agree with this - not all girls/woman need to go into college right away - or full time. If your daughter is going to get married and be a stay at home Mom does she really need a full time college student loan to wear down a financial burden with her new husband ?letterstoelijahhttps://www.blogger.com/profile/06836260184518738834noreply@blogger.comtag:blogger.com,1999:blog-4506281235722645086.post-28182687695737675312008-11-26T09:56:00.000-05:002008-11-26T09:56:00.000-05:00I am so torn on this question. The truth is, MY p...I am so torn on this question. The truth is, MY parents DID go into debt to get my sister and I through college, though I also had scholarships. (In one of life's great ironies, my sister wasn't considered smart enough, and didn't have the grades to get financial aid--of course now she's the corporate executive with the six figure income!) As it turns out, my children are all late-bloomers or not college material, so my expenses have been at the trade school or community college level. But if life had been different for them? If Harvard beckoned? I think I would feel compelled to help them.Grace.https://www.blogger.com/profile/03557395027685855901noreply@blogger.com