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Reply to "Why pay all of kids' college?"
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[quote=Anonymous]Federal loans are capped at 5.5k, so are you talking about private loans? Private loans are very predatory. They have sky high interest rates, no forgiveness or deferment, and above a certain limit based on the family’s finances, are actually the parents’ debt, not the student’s. Personally, we are paying for our kids’ college in full because we want to teach our children personal responsibility. Part of being responsible includes paying your own way and we don’t qualify for government grants of any kind. We want to teach our kids to be contributors to society, not liabilities to society. No matter how you bend the facts, those 5.5k federal loans are taxpayer subsidies. We don’t want our kids to learn to expect government subsidies.[/quote]
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