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[quote=Anonymous][quote=Anonymous]I'm not going to read the surely inane responses on this thread.

OP I AGREE WITH YOU.

You are not missing anything. I had the same experience as you and paid for law school myself as well. [b]There was no huge crushing debt. I took out only as much money as I needed and aggressively paid it back. My siblings all did the same. My cousins all did the same. None of our families bankrolled our education and WE VALUED IT MORE.[/b]

I love my peers who take on insane jobs and hours to make money to help their kids. You know what helps kids? Prioritizing spending time with them, being a part of raising them and teaching them responsibility and to take ownership of their lives.

OP- listen to your own good common sense. Your kid is lucky to have you. [/quote]

But the rules for student loans have changed.  The only loans students can get in their own name (barring some unusual situation) is the federal loan, max $31k for undergrad (which is probably a reasonable limit for most students).  If you need more from that you need a parent to co-sign so it is then as much the parent's loan as the students.  Is this parent who refuses to save for college going to be willing to co-sign a loan they will then be responsible for?  And, likely has a high interest rate?  Why would you pay so much for a loan that you could have avoided by saving when you can afford it.  If you want the student to have "skin in the game", then just tell them what you are paying is a loan and work out the terms for them to pay you back.  Would be a lot cheaper.

It IS possible to get through college on your own with just the federal loan limits if you go to a CC, work FT all summer and PT all school year, transfer to a local public university and live at home (assuming parents are gracious enough to let you live at home and not charge you rent). We actually worked through this option with DS as an exercise in understanding college costs and tradeoffs.  For families who can't afford to save or pay for a more expensive option via cash flow, then that's their best option.  Unless your child gets one of the exceedingly rare full rides -- tuition + R&B.  Which is great but not an expectation you should build your college planning around.[/quote]

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