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But why would a parent WANT their child to start off in tens of thousands of dollars of debt if they can afford otherwise? I just really don't get it.
The question was whether a kid can afford to pay for their own college tuition - the answer seems to be yes, Yes, some parent want to pay and that's fine. Would could also say - why stop at college? Why not really give a child a leg up and pay for their first home....first BMW...fund the retirement account. Yes, I know some parent do this.
I can't figure this out either. I get it that there are people who can't help their kids. I get it that there are parents who can only help their kids a little bit. What I don't get is parents who could help their kids with college and just refuse.
What's hard to understand about people encouraging their kids to pay for what they want in life? That's not an insult toward you so why act shocked and amazed by the way others handle their money or the value they place on it?
Two of my kids attend(ed) private universities. They both preferred courses be taken at their universities. It would have been more expensive to add courses from a CC, since the tuition at the privates were a flat rate, not a per credit fee.
My 2 graduates are employed. One was offered a job the week he graduated. Very high 5 figures. The other had multiple offers to choose from months BEFORE he even graduated. He's one of those recent private university grads making 6 figures that's being discussed on another thread here somewhere.
So this proves my point and goes along with what others have said - if a child want to rack up a lot of debt and they can convince the parents that they have a fool proof way of making good money - let them do it. Paying it back will only create a very mild hardship in their life.
I'm waiting on someone to say no so others can go on and on about how not paying for car/college makes one a bad parent.
Quote:
Originally Posted by afoigrokerkok
That person will say that paying makes one a bad parent too and the flame war will begin. This sort of topic is always highly controversial on this forum.
Not necessarily so. Each family has a right to do what works for them. What worked for us may not work for others.
I did not pay for college, nor did I buy them cars. They have graduate degrees and their own cars. One has bought a house. They worked, applied for scholarships and worked some more and were always on the Dean's List. They are under 30 years old.
My parents did not buy a car for me and they did not put me through college. I have owned my own homes, I have bought all my own cars and I too have a graduate degree.
1. College is affordable for the VAST majority of young people.
2. Community college is cheap and works for the VAST majority of people - saving thousands of dollars.
3. State universities are affordable for the VAST majority of young people and offer about anything a young person desires.
Now put all this together, throw in a little scholarship money and a dash of cash from busting tables - and the answer is YES, college is easily affordable for the VAST majority of young people. This means it isn't a requirement for parents to pay. One can sit back and make moral judgments all day, but it's just hot air.
What's hard to understand about people encouraging their kids to pay for what they want in life? That's not an insult toward you so why act shocked and amazed by the way others handle their money or the value they place on it?
I didn't take it as an insult towards me. I'm not sure how you got that from my post.
It's just a way of thinking that I don't understand.
The question was whether a kid can afford to pay for their own college tuition - the answer seems to be yes, Yes, some parent want to pay and that's fine. Would could also say - why stop at college? Why not really give a child a leg up and pay for their first home....first BMW...fund the retirement account. Yes, I know some parent do this.
Sure!! Why not pay for or assist with paying for their home, if the parents can afford it? Or a car? Or retirement funds? Why does this bother you?
Sometimes the parent's estate planning dictates that to reduce future inheritance tax loads, they should gift some of their worth to their children or grandchildren, removing it from the estate. Better this money go to help their own kids with education, homes, and such than taxes!!
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