Did your parents (step or otherwise) pay for your college? Will you pay for your kids?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
I understand that, due to inflation, it's no longer financially feasible for an 18-year-old to put himself/herself through a four-year college full-time on his/her dime by employment alone.
My answer to my thread query: My parents did not pay for our college educations. We are now 52, 50, 46, and 44. I paid for half of my oldest child's degree (she chose a private college and took on some loans). I'm paying 100% for my 20-year-old's degree (she's at a public university). I'm paying nothing for my son, because he was awarded a full ride. For my last child, I intend to pay 100% for a public college and up to that amount toward a private college. Tangential to the original question, how do you feel about this topic? I was stressed as a young adult paying for school, and I finished my education by working full-time and going to college at night to complete my B.A. I don't feel resentful toward my parents. I clearly decided to contribute toward my own kids' educations, though. |
Anonymous
|
This is a bone of contention between my boyfriend and I. We have been discussing getting married recently and our conversations have gotten into things like this.
My parents paid for my degree from a public, in-state university and said that was it. They would have paid the comparable amount of in-state public tuition had I opted to go out-of-state or private, but I chose to take them at their word. They also said if I wanted to do grad school, I'm on my own. They are doing the same thing for my brother who is in school now at my alma mater. I really appreciated this and would like to do the exact same thing for my kids. On the other hand, my boyfriend is one of 6 kids. It was obviously not financially feasible for his parents to pay for tuition for all of their kids, so they chose to not pay or assist at all. So he took out a ton of loans and is still paying them off and is salty about it. He doesn't want to pay for any of his kids' tuition, and I fundamentally disagree with this. I know how stressful it would have been for me (and I did have a part-time job for my entire 4 years in college!) to foot all the tuition and expenses on my own and I likely would have taken more than 4 years to finish and end up with a s***-ton of loans. I am forever grateful to my parents for helping me avoid this. But this has become a real sticking point with my potential fiancee and I. I don't think we will ever fundamentally agree and we will likely come to a compromise by saving what we can in addition to retirement for the kids' colleges but they will likely end up with some loans also. |
Anonymous
| I wouldn't compromise on this. |
Anonymous
| Paid for my own. Kids will pay for their own completely. They will be allowed to live at home for free, while in school, if that's an option for them |
Anonymous
| They paid for me. I will pay for mine. |
Anonymous
| Mine was paid for, my DHs too (more of a sacrifice for his family than mine). I paid fully for grad school, my DH got some help with grad school. We have paid for DC1s private college education fully. Will start paying for DC2s next year. We have accounts for each kid that will have money left in them after paying for college and that will be theirs to fund whatever grad school they want but the rest will be up to them. There is about $40-50k each at the moment so it would make a dent, but certainly not cover all of it. |
Anonymous
I'm the OP. They will need you to cosign any loans higher than the federal Stafford amount (pretty low IIRC). Will you do that? |
Anonymous
|
My parents paid for most of my under-grad. I went as an out-of-state student to a public school so I went "over budget." Out of $80,000 for 4 years tuition, I had about $7000 in loans. DH went on a government scholarship of some sort for 3 out of 4 years. He about $5000 in loans from his first year he had to pay tuition himself.
We (DH and I) paid for my grad school (GMU) and DH employer paid for his grad school (private school DC) We are saving for DCs college. We will have enough for state schools...not private. If they choose private or out-of state schools, they will have loans. DH will do our best to make them manageable with in our experience. |
Anonymous
| My parents paid for my education plus expenses 100% and I believe it under-valued the experience for me. My kids will have skin in the game. I haven't figured out the system, but probably I will pay for their major expenses assuming a B and up, and they will be responsible for every bit of extra money - trips, food, entertainment, etc. |
Anonymous
| They paid for my school. I paid my rent and bills and worked as a waitress all the way through. I hope to do the same for my kids. I will pay for the school - they need to have a job and pay for the rest. |
Anonymous
| I paid for my own. I paid fir my kids as long as they maintain a certain gpa, don't rape and don't get pregnant. |
Anonymous
|
My parents paid for college for my sister and me. I'll pay for DD's college.
I paid for law school myself by working full-time and going to school at night...and I lived at home. |
Anonymous
Ditto. |
Anonymous
| I had merit scholarships that paid for 70% but they paid te rest and would have paid all if I didn't get any money from the school. I will pay for mine. It is such a leg up as a young adult to not have the debt hanging over you. It was always clear that I had to get good grades and have a major that would lead to a good career (or a plan if it was a major without a clear immediate career path but hat I was passionate about). I'd have those conversations with my kids too. My parents were supported by thir parents when they were young and just starting out (I was born when my mom was 22 and her parents helped pay for daycare etc). |
Anonymous
Me too. |