How do you feel about making your kid get student loans?

[Anonymous]

I made my kids take a FAFSA loan. I intended to pay it off immediately upon graduation but felt like they needed to think they had some skin in the game.

[Anonymous]

I'd have been willing to let them take the basic federal loans. We told the kids what we were willing to pay (up to $40k, equivalent of most expensive in-state school) and if they needed to stretch a bit beyond that they could add the federal loan + their own work.

Both absolutely did not want to take loans and took schools off their lists that didn't look like they'd fit the budget. In the end, we pay about $30k/yr for each one.

[Anonymous]

We can pay about 30k/year per kid...so basically instate. Kid got into a dream school with no merit (60k/year) we refused to take out loans and didn't want him to either.

I figure he will need to take out loans for grad school.

[Anonymous]

my kids take what they can in their name. 25kish. I don't think it's too much for a 4 year degree, and it's good for their credit. We're otherwise full pay.

we did say we'd pay it off after graduation if they graduated in 4 years. can't imagine paying for a fifth year - but also can't imagine making them pay for that. so this was our solution

[Anonymous]

Anonymous wrote:Completely against loans. We prioritized savings but DC also picked a school (much maligned on here for not being "elite" or for being subpar) but will get a ton of aid and be in the honors program. DC has talked to professionals in the field and they concurred this was the way to go as undergrad "doesn't matter." DC will have >$100K for grad school and no undergrad debt.

Upvoting this advice.

[Anonymous]

Be aware that all schools do not offer RA’s full coverage of room and board. My DS was at a SLAC and received a discount on room only.

[Anonymous]

Loans are lame - it's not worth it. College isn't a good value...you know this...

[Anonymous]

I don't understand how a parent can "make" their child take out loans...?

[Anonymous]

My kids will never take out loans.
I will never take out loans.

That's my rule.

[Anonymous]

I work to pay for my kids’ college tuition. I decided to stop being a SAHM when my youngest went to Kindergarten in order to pay for their college. They can’t go to someplace that’s $80k a year without merit aid though.

[Anonymous]

Anonymous wrote:I don't understand how a parent can "make" their child take out loans...?

They refuse to pay, like my parents. Not only did they refuse to pay; they refused to fill out the FAFSA for me.

[Anonymous]

Anonymous wrote:Yes, they took loans and they don't know this but when they pay them-they will pay us, we will pay the loan, we will put their money away and when they want to buy a house they will have that money.

This is nice. If my child has to take a few of the federal student loans , I plan on contributing/paying the monthly payments.

[Anonymous]

My kids won't, but everyone I know had loans. You do what you need to do.

[Anonymous]

Anonymous wrote:We can pay about 30k/year per kid...so basically instate. Kid got into a dream school with no merit (60k/year) we refused to take out loans and didn't want him to either.

I figure he will need to take out loans for grad school.

Yes, that is too much in loans.

We had to weigh our child’s needs and the resources of the schools, opportunities available and the areas they were in.

The price difference was about $15k/year after a talent scholarship helped bring cost down a bit. My parents offered a little help (part of our college fund is from my grandpa when he passed) and the kid can do the loans +figure out extra scholarship money+a job that could help.

To be honest, our child likely needs to have some skin in the game anyway. We’ll try to make it less painful and we will help to figure out refinancing if it makes sense after graduation. But we also have a child that isn’t the best student and needs to understand this is an investment in herself.

[Anonymous]

Anonymous wrote:Be aware that all schools do not offer RA’s full coverage of room and board. My DS was at a SLAC and received a discount on room only.

Anything helps