Are college loans a good way to learn how to save?

Anonymous
Anonymous wrote:My husband went to a private college and later straight to a private law school on full student loans. My parents paid for my public college and private law school in full. He did learn to be more frugal and a much better money manager than I ever was.

During college, my husband became an RA for multiple years to get free rent/dorm. He also learned to apply for every small academic award and scholarship by getting close to professors, he worked hard and graduated summa cum laude. He worked every summer while living with family and saved most of the money he earned. During law school, he became an RA again, worked as a summer associate at big firms each summer and saved more money, and then took the highest paid job he could get in biglaw. After working in biglaw firms for 4 years, he was able to pay off all of his student debt in full. I was never so proud of another person as I was when he showed me his last student loan payment (which we used to have framed).

You (and he) should be proud! That’s a f accomplishment. It sounds like your husband was already very financially responsible and knew how to handle debt, which is the opposite of OP’s situation.
Anonymous
^ That’s AN accomplishment. I’m having a terrible time with phone typos today. Sorry pp!
Anonymous
Loans are not saving. If he’s bad with money teach him and no loans.
post reply Forum Index » College and University Discussion
Message Quick Reply
Go to: