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]

My parents did a version of this, had me take the federal loans out and told me if I didn’t make dean’s list, they wouldn’t pay them off. Worked perfectly for me, there were a few semesters I didn’t make Dean’s List (I know, all of you reading this probably would’ve disowned me) but I left college with minimal debt and paid the loans off quickly. [/quote]

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