Reply to Make our kids take loans and pay them at the end as surprise, good idea?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We can fully fund 6 years of private college for our kids but may not tell them and claim that we are broke and they need to take out loans.

Has anyone done this, or is it crazy?

DH basically wasted 1 year of school because he knew his parents would pay for it, so I wonder if this is a good idea.[/quote]

It’s okay not to pay for more than for years but not to lie to your kids. If you can afford more than four years I’d encourage you to give your kids the flexibility to spend time at college pursuing their dreams. I didn’t goof off or waste time but at the end of my sophomore year wanted to add a second major to give me more career options. My parents made it clear I had to graduate in four years so no second major for me. I’ve spent 30 years in a career that’s fine but not my first choice. I’m counting the days until I can retire and pursue my passion. If you can afford it give your kids time to figure out how they want to spend the 30+ years they will spend in a career - no strings attached. [/quote]

If the 5th year comes from adding a 2nd major or because the kid really wants to switch majors (and it's well thought out change, not just wandering aimlessly with a new major each semester) I am more than happy to pay for an extra semester or year.

But do not lie to your kids and make them stress about college costs when you can afford it.  Treat them like the adult they are[/quote]

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