How much college debt does your kid anticipate?

[Anonymous]

There are a lot of wealthy people posting on this thread or they don’t have more than one or two children.

[Anonymous]

Kid 1 - college and grad school, $0 debt
Kid 2 - college, $0 debt. We have about $100k set aside for grad school. Anything over that is on DC so it depends what path he chooses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think education is the parents responsible as long as it's feasible. Saddling your offspring with debt before they are employed is a recipe for hardship the rest of their lives.

UMC privilege

You both said the same thing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$40K. My ex husband and I were unable to save a lot of money for college. She goes to a flagship that costs about $28K year. We warned her, but it was her decision.

You warned her about what?

The debt...?

Did she have any choice? You didn't save enough for her to avoid debt. Given that, what was the point of the warning?

[Anonymous]

Anonymous wrote:My Mom has three rules on college.
1) she is not paying for it
2) she would not allow any child to take out a student loan.
3) go to any college you want as long as you follow rules 1 and 2.

Flash forward 32 years with my kids I am struggling with all the other High School kids have PHDs so they are going to top schools with spending money.

It seems today every HS senior and Kid in college has a PHD so when you make kids pay on their own or take loans they make your kids seem like a failure and the kids make sure to guilt the parents.


PHD in kid language is Poppa Has Dough. If you got a PHD no worries.

DC area is full of Poppa Have Dough kids

In 2018, that is not possible unless your child gets a free ride including room and board (the latter assuming s/he lives at school).

[Anonymous]

Anonymous wrote:I think education is the parents responsible as long as it's feasible. Saddling your offspring with debt before they are employed is a recipe for hardship the rest of their lives.

It depends on how much debt. I graduated from college and grad school and had maybe $30K in debt. I certainly wasn't "saddled" by it. I worked and paid it off like any other bill. It certainly was not a hardship and I'm a teacher.

[Anonymous]

I was responding to the guy who says he has more than enough money saved for college but thinks pain of debt somehow makes his kid appreciate his place in life better. I think it’s selfish and greedy. It’s so easy to fall into poverty and very hard to fight your way back up to a reasonable level of comfort. A college degree is a keystone towards economic stability. It should not be used by a parent of means as a moral cudgel. Life itself will beat a lesson into almost everyone.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I think education is the parents responsible as long as it's feasible. Saddling your offspring with debt before they are employed is a recipe for hardship the rest of their lives.

I think saddling with too much debt is hardship; a small amount of debt in exchange for a quality education is good. Required manageable payments have a way of waking kids out of a post-college lull. When the payments start being due (6 mos after graduation) gives a natural deadline to get things moving on their careers. The luxury UMC parents have that others don't is that if their kids' loans DO become a genuine hardship they can choose to help out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My Mom has three rules on college.
1) she is not paying for it
2) she would not allow any child to take out a student loan.
3) go to any college you want as long as you follow rules 1 and 2.

Flash forward 32 years with my kids I am struggling with all the other High School kids have PHDs so they are going to top schools with spending money.

It seems today every HS senior and Kid in college has a PHD so when you make kids pay on their own or take loans they make your kids seem like a failure and the kids make sure to guilt the parents.


PHD in kid language is Poppa Has Dough. If you got a PHD no worries.

DC area is full of Poppa Have Dough kids

In 2018, that is not possible unless your child gets a free ride including room and board (the latter assuming s/he lives at school).

+1. I think this is a common mistake parents make. "I paid for my own schooling" doesn't work any more when even state schools are pushing 25k per year and above.

[Anonymous]

zero

[Anonymous]

Anonymous wrote:My kid has no idea what debt even means.

+ 1

I hate to say it but this.

Obviously she knows but not realistically and not for herself.

[Anonymous]

Anonymous wrote:I was responding to the guy who says he has more than enough money saved for college but thinks pain of debt somehow makes his kid appreciate his place in life better. I think it’s selfish and greedy. It’s so easy to fall into poverty and very hard to fight your way back up to a reasonable level of comfort. A college degree is a keystone towards economic stability. It should not be used by a parent of means as a moral cudgel. Life itself will beat a lesson into almost everyone.

Yes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$40K. My ex husband and I were unable to save a lot of money for college. She goes to a flagship that costs about $28K year. We warned her, but it was her decision.

You warned her about what?

The debt...?

What other options did she have? I mean going to an instate school seems pretty responsible to me. What were you expecting her to do? Go to CC instead?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$40K. My ex husband and I were unable to save a lot of money for college. She goes to a flagship that costs about $28K year. We warned her, but it was her decision.

You warned her about what?

The debt...?

You (parents) didn't save any? Poor kid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$40K. My ex husband and I were unable to save a lot of money for college. She goes to a flagship that costs about $28K year. We warned her, but it was her decision.

You warned her about what?

The debt...?

You (parents) didn't save any? Poor kid.

We saved some but not enough to fund all of a college education. Between a divorce, a yearlong battle with breast cancer, several years spent out of the workforce...the list goes on...there was often barely enough for me to pay the mortgage and put food on the table, let alone put money in a college account.

I know, my poor kid. Probably should've just found a new mom, eh?