Why pay all of kids' college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

I guess my own parents were selfish, as they retired early in their 50s and 60s from their lower middle class jobs- (factory line, clerk, etc.), rather than keep going till they were in their 70s to pay for my school in fully?

I'll let them know that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

And you are an entitled Gen Z who expects your parents to work into their seventies to support your multiple useless master's degrees.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

Troll. Fully paying undergrad more than discharges our obligation to our children.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

Because it can easily be a bad decision that never pays off...in fact it has a negative opportunity cost. Why would you fund a bad decision that may end up with a worse life outcome?

Education is always a good decision. I have a masters, my spouse doesn't. They wish they got one.

Great...when you pay for your kid to get an MBA or law degree from a 2nd rate school or you pay for a PhD that is worthless...and then they return to live at home and/or remain under-employed for life and sucking you dry for $$$s...well good luck.

Strange that you would brag about getting a masters in order to attain a MC life.

[Anonymous]

***It depends on your finances, the potential financial aid and the amount of loans you take on***

We cannot discuss this in a vacuum.

For our situation, we refuse to take on loans. Paying out of invested assets and tightening belt a little. Merit aid but not financial aid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

And you are an entitled Gen Z who expects your parents to work into their seventies to support your multiple useless master's degrees.

Wrong and we will work much later to pay for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

Because it can easily be a bad decision that never pays off...in fact it has a negative opportunity cost. Why would you fund a bad decision that may end up with a worse life outcome?

Education is always a good decision. I have a masters, my spouse doesn't. They wish they got one.

Great...when you pay for your kid to get an MBA or law degree from a 2nd rate school or you pay for a PhD that is worthless...and then they return to live at home and/or remain under-employed for life and sucking you dry for $$$s...well good luck.

Strange that you would brag about getting a masters in order to attain a MC life.

Nothing wrong with a Mc life and yes, I hope they live with me to save money post graduation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

Troll. Fully paying undergrad more than discharges our obligation to our children.

Not when you can afford more. You are the troll. Selfish one at that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

And you are an entitled Gen Z who expects your parents to work into their seventies to support your multiple useless master's degrees.

Wrong and we will work much later to pay for it.

Cool. I'll be selfishly enjoying my twilight years traveling, skiing, hiking, golfing, and doing all the things I have left on my bucket list while I'm still fit and healthy. After decades of raising kids, working, and putting them through school, I'm good with that. Moreover, supporting adults after a fully paid-off undergraduate education is enabling, and it might l come back and bite you. My kid may take out $300k in medical school loans like on the other thread, and your kid can use their high income and no debt load to help her pay off her loans when they get married. If you want to work into your seventies to pay for your adult children's master's degrees, I will try my best not to feel sorry for you while I'm finally hiking in Milford Sound.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

Because it can easily be a bad decision that never pays off...in fact it has a negative opportunity cost. Why would you fund a bad decision that may end up with a worse life outcome?

Education is always a good decision. I have a masters, my spouse doesn't. They wish they got one.

Great...when you pay for your kid to get an MBA or law degree from a 2nd rate school or you pay for a PhD that is worthless...and then they return to live at home and/or remain under-employed for life and sucking you dry for $$$s...well good luck.

Strange that you would brag about getting a masters in order to attain a MC life.

I know a few people like this. It’s really pathetic.

[Anonymous]

I haven’t read this whole thread but we are definately planning on paying for all education with college and if DS wants to continue on post bachelors that too.

Giving our child the gift of being debt free starting out in life after studies will enable him to save much more money and much faster towards attaining financial security. He won’t need to delay big things like marriage, kids, etc… due to debt burden.

But we are lucky because we are able to fully fund retirement and do above. It’s also easier because we only have 1 child.

If you have the means to help your child be debt free when starting out in life, I don’t get why you wouldn’t.

Talk to all the young people in this area who had debt and loans and couldn’t afford to save for down payment for a house and then got locked out of what they wanted due to rising housing costs.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

NP. Because we have a finite amount of resources, I want to retire and enjoy what is left of my life. I can afford to retire while I'm young and do the things on my bucket or fund my kids through their twenties while they pursue graduate degrees. I'll choose me on this one (after decades of putting them first). I gave my kids a debt-free undergrad. If they want to go to grad school, they'll need to choose wisely based on how it will benefit their career.

Got it, you are selfish.

And you are an entitled Gen Z who expects your parents to work into their seventies to support your multiple useless master's degrees.

Wrong and we will work much later to pay for it.

Cool. I'll be selfishly enjoying my twilight years traveling, skiing, hiking, golfing, and doing all the things I have left on my bucket list while I'm still fit and healthy. After decades of raising kids, working, and putting them through school, I'm good with that. Moreover, supporting adults after a fully paid-off undergraduate education is enabling, and it might l come back and bite you. My kid may take out $300k in medical school loans like on the other thread, and your kid can use their high income and no debt load to help her pay off her loans when they get married. If you want to work into your seventies to pay for your adult children's master's degrees, I will try my best not to feel sorry for you while I'm finally hiking in Milford Sound.

Just realized when you never have grandchildren that this is why and keep your mouth shut.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I have been MC all my life. I wanted to be married, have kids, and have at least a MC life. Beginning of marital life, we were quite poor and made very little money. Later on, our earnings increased.

Because of that - we only had 2 kids, only lived in house in a inexpensive neighborhood, only sent my kids to our local public K-12 schools, did not have a pet, lived a modest life, saved for our retirement, emergency fun, and started saving for as much college as we could. My kids went in-state and chose majors that can get them employed.

We first saved for 2 years of community college tuition, then we added 2 years of in-state public university tuition, then we added two more years of Masters in-state public college. Once we had that in place, we started to save for living expenses for 2,4, 6 years. Once we had hit that target, we started to save for MBA, medical school, law school etc.

Paying for kids college gives them a SES leg-up that can help them and future generations. So, I don't have to sing the praises of college education for the kids or why making kids graduate debt-free is a blessing to them. Suffice to say, you need to live with a degree of frugality to save for your kids.

If you are very poor, then at least make your kids high achievers by prioritizing education and enriching them at home.

I think people are critical when parents live a lavish life - vacations, booze, socializing, expensive hobbies and do not save for the kids education.

The problem is graduate school really is a complete option, and often times a bad move. I would not blindly agree to pay for my kid to go law school or get an MBA or do any kind of academic graduate program where tuition plus a stipend is not offered (because that means, it is a lifestyle program...not one in demand). Medical school is different.

I am with some PPs that would likely give a low to zero-interest loan to a kid for graduate school...but only if they have a clear plan and it is a top program. Anything other than Medical school (or again, a PhD program that is essentially "free"...so may help with some living expenses)...no way I would pay to go straight to grad school without working in the real world for 3-5 years.

We will pay for grad school. I don’t understand why you would not.

Because it can easily be a bad decision that never pays off...in fact it has a negative opportunity cost. Why would you fund a bad decision that may end up with a worse life outcome?

Education is always a good decision. I have a masters, my spouse doesn't. They wish they got one.

I don’t have a masters and don’t wish I got one. I lead hundreds of people, many of which have masters and PhDs. They wish they had my position. What I learned is that those grad and postgrad degrees are mostly useless. They don’t determine how successful you’ll be and how much you earn.

[Anonymous]

Anonymous wrote:Kids cant borrow the full amount anymore. Max loan is $5500 for the first year.

They could never borrow the full amount in federal loans.