Reply to I know why Millenials can't afford houses and pay off their student loans..

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Ivy League class of '01. Bought my starter home in 2010 with my mother as cosigner on the loan and she put up $20K towards the down payment.  Just paid her off a few months ago (zero percent interest loan) and we're refinancing to take her off the title/mortgage.  Plus she helps out with daycare payments every once in a while when we are short.  Still have barely started contributing to the 529 plan yet.

Don't blame milennials.  [/quote]

These are accomplishments?  15 years out from an Ivy degree and still getting help from Mommy?  Good lord.[/quote]

I'm a mom of young adults and that 2001 Ivy grad post is really depressing.  Mine are not that old.  6 years to pay back $20,000 no interest loan?  Mom on the mortgage?  Helping pay for daycare?   I'm a generous and a confused person.  [/quote]

I don't get it either.  I am an older millennial.  I graduated undergraduate with zero loans (all scholarships) from a state school.  I got paid to go to graduate school.  I worked jobs all throughout high school, college, and graduate school.  DH and I are very frugal and we managed to save 120k for a down payment for our starter house in 2006.  In 2010, we sold the starter home and bought our current home with 180k down and 100k in renovations.  Currently, we have a healthy 401k and max contributions every year.  We also save a lot and so have quite a bit in investments.  We did a 15 year loan so our house is half paid off.  My sister graduated from an Ivy League in 2014 and she completely can pay off her loan, but decides to enjoy her life instead.  She has a lot more earning potential than me, but I don't know if she will accumulate as much as me.  However, I do wonder if she is happier because she has experienced more in life.  As I read on a recent study, buying things do not give you happiness but buying experiences (e.g. activities) will.[/quote]

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