Why pay all of kids' college?

[Anonymous]

I paid my own college, paid my own car. My own car insurance and it can easily be done.

All I did was to apply for full time jobs after High School. I told them I was not going to college.

Barclays Bank hired me as a full time employee in operations and they had two shifts. 8am 4pm and 4pm to midnight. I took second shift had all day for college. I lived at home. Barclays even had tuition reimbursement up to 12 credits a year.

I even switch jobs to MasterCard operations after year two. It took me five years to graduate. I then did a management training program small bank one year then got hired an extremely prestigious firm at 24. I had six years full time work experience by 24 and moved out by 25 debt free.

Anyone can do it even today. In Maryland a kid became a garbage man full time and did it through college and law school.

[Anonymous]

Paying only for community college. They too lazy to do four years right away. Not paying them to drop out.
Younger one has couple of hundred thousand growing already, but it's not for college. More like investment that should double every seven years or so. That's plenty of help.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area? It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

Why should they? Imagine the shame when for the parents when their friends learn that their kids fled the area because they were too poor to afford living there.

[Anonymous]

Anonymous wrote:Paying 100% of your kids’ college is a DMV thing. I’m from PA and it’s not the expectation. None of my siblings gs helped their kids through college.

For me, I agree on skin in the game. And I think that a lot of college is a waste of money. If your kid needs a specialized program then expensive might be necessary. But most are fine with community college and a state university. So that’s what I’m willing to pay. Beyond that, they are on their own.

+1

[Anonymous]

My parents paid my tuition, room and board, and we are doing the same for our kids

[Anonymous]

I didn't have loans. It meant when I started in big law, I could max out my 401k, buy a home within 2 years, and save quite a bit in a brokerage. I got to a 7-figure net worth without every partner, then left Big Law for a better lifestyle. It was a big advantage, so of course I want to pay it forward to my kids. I worked really hard despite not having any loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area? It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

Why should they? Imagine the shame when for the parents when their friends learn that their kids fled the area because they were too poor to afford living there.

I'm trying to figure out if you're trolling on this one. Or I hope you are because otherwise you're absurd.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area?It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

Because the marriage prospects are dismal. My sister did this to pay off her loans and she’ll probably never get married. We’re going to really try to pay for our kids’ schooling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area? It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

PP here. I want my kids (and grandkids) to live in the DMV, if possible. It's a "live close to the family" thing.

Why do you want your kids to live in a low cost area, if you can help it?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area? It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

PP here. I want my kids (and grandkids) to live in the DMV, if possible. It's a "live close to the family" thing.

Why do you want your kids to live in a low cost area, if you can help it?

As someone who moved away from my perfectly nice state with a spouse that also moved from a different state, I have zero expectations that my kids would stay in the DMV area. Few of my college friends stayed where they grew up, they dispersed across the country. And there is nothing embarrassing about moving to a lower cost of living area, especially to help pay off loans. That's raising smart kids, not superficial ones.

[Anonymous]

Anonymous wrote:You sound mean and uncaring.

You sound like one of those a-hokes who want blue collar people to pay off your kids loans. Screw colleges and the privileged brats who go there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area?It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

Because the marriage prospects are dismal. My sister did this to pay off her loans and she’ll probably never get married. We’re going to really try to pay for our kids’ schooling.

Huh? Low cost of living could mean Charlotte NC or Buffalo NY. They could meet their spouse in college and move together (smart move by my siblings who shared a combined debt of loans from medical and veterinary school). It doesn't have to mean east bumble f*ck. Or it could if it is what the kid wants, so be it. Worrying about or trying to control where they live for marriage prospects sounds meddlesome.

[Anonymous]

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

You could help them with a down payment. Many families do that if they’re financially able.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:All I know is by the time my kids are old enough to buy a house, the average price is north of $1 million around here. If they are saddled with loans, they will never own a home.

Why can't they just move to a low cost of living area?It's how my MD brother in law paid his full med loans off. Why do you expect your kids to buy in a million dollar house area?

Because the marriage prospects are dismal. My sister did this to pay off her loans and she’ll probably never get married. We’re going to really try to pay for our kids’ schooling.

Huh? Low cost of living could mean Charlotte NC or Buffalo NY. They could meet their spouse in college and move together (smart move by my siblings who shared a combined debt of loans from medical and veterinary school). It doesn't have to mean east bumble f*ck. Or it could if it is what the kid wants, so be it. Worrying about or trying to control where they live for marriage prospects sounds meddlesome.

What is this, 2009? My sister’s house in a middling Charlotte suburb cost over 900k and she got a crappy interest rate.

[Anonymous]

Most cities have rising housing prices and often people have to go where the jobs are. We are limited in where we live due to one person.