Ever disappointed when you look at lists of where kids are going to college?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are parents who say they can't afford 45K considering taking out Parent PLUS loans? The right way to use a Parent PLUS loan would be to take out the amount that would end up with a debt service the equivalent to what you're saving every month now for college. That way, you can effectively double your contributions during the 4 years of college (since you can defer the Parent PLUS until graduation - you'd be able to contribute both the amount you were saving monthy plus the loan amount) After graduation, the money you would have been saving for college/paying for tuition now goes to debt service.

And you will be in your 50s or 60s and looking at never, ever retiring. Also, PLUS loans have higher interest than regular, Sallie Mae loans. No thanks!

+1. Not a chance will I be borrowing money to send my children to college. After graduation, the money I have been saving (FOR YEARS) for college/paying for tuition will be pay to replace the cars that will by then each be over 10 years old, make home repairs that we have been putting off, boost our retirement savings, and maybe go wild and take a vacation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are parents who say they can't afford 45K considering taking out Parent PLUS loans? The right way to use a Parent PLUS loan would be to take out the amount that would end up with a debt service the equivalent to what you're saving every month now for college. That way, you can effectively double your contributions during the 4 years of college (since you can defer the Parent PLUS until graduation - you'd be able to contribute both the amount you were saving monthy plus the loan amount) After graduation, the money you would have been saving for college/paying for tuition now goes to debt service.

And you will be in your 50s or 60s and looking at never, ever retiring. Also, PLUS loans have higher interest than regular, Sallie Mae loans. No thanks!

+1. Not a chance will I be borrowing money to send my children to college. After graduation, the money I have been saving (FOR YEARS) for college/paying for tuition will be pay to replace the cars that will by then each be over 10 years old, make home repairs that we have been putting off, boost our retirement savings, and maybe go wild and take a vacation.

Haha, that was my comment about never being able to retire. Through savings, the 10-month cash payment plan, driving ancient cars, and deferring home repairs, we're handling a $60+ tuition. But PLUS loans aren't going to play any role.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are parents who say they can't afford 45K considering taking out Parent PLUS loans? The right way to use a Parent PLUS loan would be to take out the amount that would end up with a debt service the equivalent to what you're saving every month now for college. That way, you can effectively double your contributions during the 4 years of college (since you can defer the Parent PLUS until graduation - you'd be able to contribute both the amount you were saving monthy plus the loan amount) After graduation, the money you would have been saving for college/paying for tuition now goes to debt service.

And you will be in your 50s or 60s and looking at never, ever retiring. Also, PLUS loans have higher interest than regular, Sallie Mae loans. No thanks!

+1. Not a chance will I be borrowing money to send my children to college. After graduation, the money I have been saving (FOR YEARS) for college/paying for tuition will be pay to replace the cars that will by then each be over 10 years old, make home repairs that we have been putting off, boost our retirement savings, and maybe go wild and take a vacation.

Haha, that was my comment about never being able to retire. Through savings, the 10-month cash payment plan, driving ancient cars, and deferring home repairs, we're handling a $60+ tuition. But PLUS loans aren't going to play any role.

This is what we will do to handle a tuition about half that amount, LOL. Other than that, I am right there with you.

Nor, by the way, will we cosign any loans for our children. This is not so much about not being willing to cosign in principle (although TBH I am not) but more about not being willing to allow our children to saddle themselves with student loan debt. I have no problem with them borrowing a modest amount of money to go to school (say, up to the Stafford subsidized limits, which I think are very reasonable and for which we would not have to cosign). More than that: Absolutely not. I will not be a party to it.

[Anonymous]

Anonymous wrote:OP, believe it or not, a lot of the schools you list churn out some very high performing graduates. Not everyone at an Ivy is going to be a Supreme Court Justice, head of a Fortune 500, white shoe lawyer, or CEO of Goldman Sachs. Life does not work that way.

Don't waste your breath. I stopped reading after your post, because the people who go on and on about this are just snobs. Someone actually used the words "Ivy or Top 10 material". Do people, outside of villains in bad 80s films, actually talk this way?

[Anonymous]

OP is an idiot!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are parents who say they can't afford 45K considering taking out Parent PLUS loans? The right way to use a Parent PLUS loan would be to take out the amount that would end up with a debt service the equivalent to what you're saving every month now for college. That way, you can effectively double your contributions during the 4 years of college (since you can defer the Parent PLUS until graduation - you'd be able to contribute both the amount you were saving monthy plus the loan amount) After graduation, the money you would have been saving for college/paying for tuition now goes to debt service.

And you will be in your 50s or 60s and looking at never, ever retiring. Also, PLUS loans have higher interest than regular, Sallie Mae loans. No thanks!

+1. Not a chance will I be borrowing money to send my children to college. After graduation, the money I have been saving (FOR YEARS) for college/paying for tuition will be pay to replace the cars that will by then each be over 10 years old, make home repairs that we have been putting off, boost our retirement savings, and maybe go wild and take a vacation.

Haha, that was my comment about never being able to retire. Through savings, the 10-month cash payment plan, driving ancient cars, and deferring home repairs, we're handling a $60+ tuition. But PLUS loans aren't going to play any role.

This is what we will do to handle a tuition about half that amount, LOL. Other than that, I am right there with you.

Nor, by the way, will we cosign any loans for our children. This is not so much about not being willing to cosign in principle (although TBH I am not) but more about not being willing to allow our children to saddle themselves with student loan debt. I have no problem with them borrowing a modest amount of money to go to school (say, up to the Stafford subsidized limits, which I think are very reasonable and for which we would not have to cosign). More than that: Absolutely not. I will not be a party to it.

I'm so use to big sacrificing to pay big full tuition (D.C. private high school) that I have planned on doing it for another 4 years when DC graduates next year. I've got a few good working years left. This gives DC a few more options but DC understands that while applications to high reach colleges is DC's option, the list MUST include colleges that are known for more financial aid programs. I could full pay UMD with money left over (yeeha!) but will most definitely consider DC's choices. DC just doesn't want to stay in Maryland. I do understand, though. I couldn't wait to leave my town and go away to college, and I grew up in a major city.

However, I will not co-sign any ridiculous loans. If I had more comfortable working years left and a tad younger, I might consider it. Now? No way.

[Anonymous]

Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

[Anonymous]

And to think that over on the college suicide thread we're shaking our heads because the Penn freshman who killed herself so obviously should have chosen Lehigh. Please read the article before you peruse the list of colleges our kids are attending.

[Anonymous]

Anonymous wrote:Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

Funny. Statistically, 90% of kids will be in the broad middle. Go figure!

[Anonymous]

Anonymous wrote:Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

Indeed. Parenting is just one disappointment after another. And the ROI? Terrible.

[Anonymous]

Some people just don't think the amount of money you spend on an Ivy is worth it...even if they are rich. They much rather spend their money on something else. At the end, prestige and going to an ivy school isn't the only factor that gets you far in life.

[Anonymous]

Anonymous wrote:And to think that over on the college suicide thread we're shaking our heads because the Penn freshman who killed herself so obviously should have chosen Lehigh. Please read the article before you peruse the list of colleges our kids are attending.

Sometimes the "better" school is not a better fit. Being disappointed about the college list is part of the problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

Funny. Statistically, 90% of kids will be in the broad middle. Go figure!

General parenting forum is full of extremely bright, amazing kids.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

Funny. Statistically, 90% of kids will be in the broad middle. Go figure!

General parenting forum is full of extremely bright, amazing kids.[/quote

True. And every family in the Private School forum has 99th percentile kids. Especially the ones who are brats - they are the smartest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, it is kind of disappointing. Not only for parents who pay big money for their kids to go to private schools (for example) but also when one takes into account all the money and effort put into kids, from breastfeeding, stimulating infants, paying for best childcare, no tv time, endless activities, tutoring - not to mention parents staying home etc etc, and the result of all that is, in a vast majority of cases, mediocrity.

Funny. Statistically, 90% of kids will be in the broad middle. Go figure!

General parenting forum is full of extremely bright, amazing kids.[/quote

True. And every family in the Private School forum has 99th percentile kids. Especially the ones who are brats - they are the smartest.

Garrison Keiller, where are you when we need you? Everyone is above average.