Reply to Why pay all of kids' college?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You can always loan your kid some portion of college tuition if you want them to have skin in the game but not subject to the public markets.

Make it official and have them sign a loan agreement…and then decide if you want to forgive it if the kid has turned out OK.[/quote]

It's not skin in the game as most have no concept of debt or what it means till after they graduate.  Skin in the game would be working through college.  [/quote]

plu[b]s most educational loans are forgiven, especially if you work in public servi[/b]ce. [/quote]

ub no.  It's difficult and the rules are complicated. I have educational loans and of course they have not been forgiven.  The only ones that biden have forgiven (a very stupid campaign promise IMHE) has not impacted ANYONE I know.  Can you say differently?[/quote]

Rules are straightforward for PSLF, reached 120 payments while working for an eligible facility and remainder forgiven

-RN[/quote]

This -- in 2021, they revised the rules which allowed me to count payments that weren't in the "right" payment plan even though all of my loans were federal (undergrad and grad).  We had opted for the graduated payment plan, in which your payments increased over time, presumably as your income increased.  I started working for an eligible employer months before the PSLF program started.  I was able to get my $65000 debt cancelled (more than I started with thanks to interest even with 15 years of payments) and a refund of my overpayments.  The refund money went straight into my daughters 529 account, with a little taken out for a nice spring break trip.  She starts college in the fall, and we really don't want her to take loans.  We may have her take some and we'll pay them off, but I don't want to saddle her with the burden that I had.  
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