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]We had our son take out small loans - stafford - and told him he needed some skin in the game. Which he rolled his eyes at as a straight-A student, but did it. We actually wanted him to take them out because it was free money (until the moratorium) ends and there is a possibility of dems forgiving loans - so again, free money :). Once we have to start paying interest on them we will just pay them off.  So I get your sentiment but if you want to incentive your kid it might be better to say you will pay but if he gets a C (or whatever) he has to pay you back for that class. If the kid is prone to f-around, theoretically having loans to repay will probably not penetrate their frontal cortex at this point anyway.[/quote]

I don't understand the "if he gets a C he has to pay you back".  My kid graduated in 4 years, switching majors after first year (had 1 C in original major and a few Ws--hence the switching of majors) , and even had 2 Cs in their actual major.  But they graduated in 4 years with a 3.4+ gpa and started a good job immediately. The lower grades were not due to lack of effort or goofing off.  
If we had said, "you have to pay back anything below a B" they would have really struggled and it wouldn't have meant better grades, but it might have meant the kid getting lost/sidetracked and never graduating college or us killing their self-esteem.  So just choose carefully how you approach it.

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