Reply to Saving for college vs paying off house

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My family has been on earth thousands of years. My generation was first generation to go to college and all 4 of my widowed Moms kids paid themselves. Why do I owe paying for college to my kids? [/quote]

LOL. I think you are supposed to tell your KIDS that. Let us know how it goes. [/quote]

My old boss on Wall Street made his kids pay for own college. He had a five million a year salary. Tough love [/quote]

That's not tuff love. That's a selfish jerk who has no interest in his kids nor probably even parented them.[/quote]

Our  kids have a trust fund that can pay for 100% of college and grad school. We're not telling them it exists until they're much older.  We will be making them pay a portion of their college tuition and/or living expenses. We haven't decided yet, but maybe around 20%. If we think they didn't squander college, we'll have that "debt" erased.

[b]I have found that kids that don't have skin in the game [/b]have a higher likelihood of squandering their opportunities.[/quote]

17 and 18 year olds can't even comprehend the magnitude of large student loans.  They have no idea what a burden they will be.  I would be so angry if my parents tricked me and then rewarded me with my trust fund if I behaved a certain way.  Talk about trying to control someone with money.  If you treat your children this way in other areas of their lives they are going to need the trust fund to pay for their therapy bills.  Wow.  [/quote]

+1. These warped adults dangling money bags above their kids' heads are a good reference for how *not* to mix family and finances.[/quote]

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