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College and University Discussion
Reply to "For parents who are primarily paying for college with non need based loans..."
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I really hope no one is doing this. [/quote] Tons of donut hole families pay for college primarily through loans. Both my parents and DH parents funded our educations this way. They paid off the loans within a few years of their kids’ graduations. [/quote] There are no donut families. They code not to save. Bad move. [/quote] This is not true. What people fail to realize that complain about donut hole families is that the expectations for what one can pay are based on current salary. Sure, if we had been making 200K since DC was born, we could have. But, we, like most donut hole families, have not. If the calculators would take into account even the last 10 years, you would hear a lot fewer complaints. [/quote] If you are making $200K a year, you are not a donut hole family and can comfortable pay for at least a state college and grad school. When we were at $100-120K we bought our newborn the prepaid and then paid that off and started a 529. We have never hit more than $140K and now have enough saved for the state school, room/board and 1-2 years of graduate school. If we continued to save, which we aren't we could do even better. You are making excuses fo your life style choices. We live in a tiny sh@t shack that we mainly DIY/paying cash, drive our cars till they die or are unsafe and then save and pay cash. We only take vacations every 4-5 years and don't spend a lot. In that time, we've had a child with serious SN and paid privately for therapies and had to support my MIL for many years. Plus, some other bad things happen. And, now that you are making $200K you should have changed your lifestyle and put that extra money int savings. I'm so tired of rich people like you expecting others to fund your lifestyle choices.[/quote]
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