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Reply to "controversial opinion: money & finances edition"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]To add to the above, I think it's crazy when UMC get on the college forum and say "My kid got into X private college but we can't afford it. Wah wah wah. Life is so unfair for us UMC." And it turns out they make like 300k. Why weren't they saving all along? That's what I want to know. When you have a baby, the baby's needs come first. That means college savings before a big house or fancy vacations and cars, etc.[/quote] They probably have been saving all along. They also weren't making $300K or anything close to it 20 years ago; spent 5-10 years paying thousands of dollars a month for childcare; had student loans to pay off; other (disability, elderly parents, medical disaster, other). The real question is, why is it ok for the increase in college costs to far outpace inflation? [/quote] Because there is too much cheap money (i.e., easy to obtain loans) when the reality is that not all kids should go to a 4-year college.[/quote]
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