Make our kids take loans and pay them at the end as surprise, good idea?

[Anonymous]

We can fully fund 6 years of private college for our kids but may not tell them and claim that we are broke and they need to take out loans.

Has anyone done this, or is it crazy?

DH basically wasted 1 year of school because he knew his parents would pay for it, so I wonder if this is a good idea.

[Anonymous]

That’s a dumb idea

[Anonymous]

Sounds manipulative, sneaky and creepy. Unless you have manipulative, sneaky and creepy kids I would never do this.

[Anonymous]

Not excellent. College is not a reality show.

[Anonymous]

dumb and risky. just pay it

[Anonymous]

This sounds like a good idea, I think it will keep the kids on the right path toward self sufficiency

although if you really want to do it right, use the money to buy some big ticket item right before they go to college (a boat?) and then make a big deal about selling your beloved boat to pay off your kids loans at the end of their time at NVCc/GMU or full time Starbucks employee/ASU online, or whatever they decide is most affordable given their straitened circumstances.

This way, the kids will appreciate uour sacrifice more, and you will enjoy the boat(s).

[Anonymous]

No, why would you do that?

[Anonymous]

I hope I’ve raised my kids well enough that I don’t need to trick them into working hard and respecting the work and sacrifice their parents have put into sending them to college.

[Anonymous]

No, your kids don't need undue stress from loans.
They're adults now, treat them as such.

Just tell them if their GPAs drop below a threshold, they are off college fund.

[Anonymous]

So you raised them so poorly that this is your only recourse?

Wow.

[Anonymous]

First, your kids can only take out about $25k in their names. The rest is on you, Parent Plus loans etc.

Second, that’s paying high interest on private loans plus an origination fee

Third, it really is sneaky and manipulative. This type of lie is a crappy way to start an adult relationship with your kids.

[Anonymous]

Anonymous wrote:We can fully fund 6 years of private college for our kids but may not tell them and claim that we are broke and they need to take out loans.

Has anyone done this, or is it crazy?

DH basically wasted 1 year of school because he knew his parents would pay for it, so I wonder if this is a good idea.

So you’re going to do manipulative things to your kids and possibly lie on financial aid forms because a completely different person decades ago wasted his time?

I think it’s a horrible idea. But I did want to check to see if I’m understanding you correctly.

[Anonymous]

It makes no financial sense to take out loans that accrue interest prior to graduation.

[Anonymous]

I’d be embarrassed to admit I had to do such a thing. Poor parenting.

[Anonymous]

Why would you want to accumulate that much interest?! I took out 50k and it had ballooned to 80k by the time I paid them off 5 years after graduation.