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Money and Finances
Reply to "If you had student loans, how long did it take to pay them off?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is an eye-opening thread. Parents need to do their best to save for their kids college and maximize their education dollars by using all available options - including state schools. [/quote] Why? A loan won't kill you.[/quote] I graduated with 5k in debt and bought my first home in NArl in 2001 at age 24. I now am 41 and have upgraded my home 3xs, and live in a home nearly paid off with a $2400/mo mortgage and am sitting on over 1M in equity, plus a 401k I have been maxing out since age 23. My home will be paid off before my kids step a toe in college. While you all were paying off your loans, I was already preparing for retirement in my early/mid 20s. Not having debt puts you at a huge economic advantage. Who wouldn't want that for their kid? My kids are now at an advantage over others. I can afford a full ride for them to public or private and will leave them an inheritance and be able to help them financially.[/quote]
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