Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am not obsessing over it, but it would give me joy to see my grandchildren have their college tuition paid for like I had mine paid for--by my grandparents.[/quote]

My dad wants to pay our kids tuition. Nope we are good. He will go to the local cheap state college which we can afford and he will take some student loans. [/quote]

Why are you making your kids take out loans if your dad is offering to pay? That seems like your pride is getting in the way of your kids' best interests.[/quote]

If your dad can actually afford to pay, why wouldn't you allow it?  Yes, State colleges are all good schools, but there are advantages of the more expensive schools (slight advantages---but the perks of only 5-8K undergrads is a real thing, if your kid wants that, why wouldn't you let them do it for free)...why would you take that away from the kids? 
[/quote]

Their kids will be fine. People who have means think that people who don't have financial means are in a dire situation..I had student loans, I worked 2 jobs in college and wouldn't change a thing in my life. I picked the right major (engineering physics) and made the best of what I had.[/quote]

College grads these days are expected to have work-relevant internships and/or impressive volunteer service on their resumes, not work-study jobs. But even if that wasn't the case, the time you spent working 2 jobs could have been spent on so many things, from the resume-enriching (e.g., another major or minor, a publication, etc) to the life-enriching (a hobby, sport, or instrument, or just rest and socializing). The money you spent paying off loans - plus interest! - could have been earning returns or buying a little investment property.

You made the best of what you had, but you are not giving your kid an opportunity to make the best of what [i]he [/i]has, because what he has is access to money that you didn't. In purely economic terms, this is a waste. [/quote]

Says the parent of children with no grit or resilience. Good luck.[/quote]

If your kid has grit, the minute he turns 18 he'll call grandpa and get college paid for despite your objections. I'm pulling for him. [/quote]

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