Anonymous wrote:

Anonymous wrote:And I will repeat:

How is this possible? You were in college back in the early '80s, like me. College was so cheap back then! I walked away with only 10 grand in loans and I had it paid off in 5 years.

Seriously, how do you not get this? Even before the OP said it, graduate school. Not everyone is like you. Good lord.

Np - Well, I am with PP. I am about OP's age too - went to school in mid 80s...etc. With 225K HHI, I can't understand how OP put herself in this situation. Unless OP was in grad school for, like, 10 years or longer.

Anonymous wrote:Your student loans. Your kids can go to community college and work during school year. All foreigners I know work while going to school and they pay out the highest tuition with no help from parents.
Get 2nd jobs since you kids are old enough to be at home alone and pay them off in 10 years.
Then help your children if you want to and have the energy.

This. Your kids college as important as it is can't come before paying off your student loans and retirement. Do whatever you have to to get out of debt fastest. Can you rent out a room in your house or do something else for a bit more money? Once you pay off your debt and are catching up a bit on retirement, if you have extra then you can help toward college.

That's a big debt load for your age. I'd start with the Dave Ramsey "Total Money Makeover" book and focus on paying down the debt. Listen to his podcasts - he can be very motivating.

State schools and hopefully some scholarships for your kids. For you, focus on paying down debt and having something for retirement.

Work a second job - find some way to make more money. Do both spouses work at this time?

Anonymous wrote:Your student loans. Your kids can go to community college and work during school year. All foreigners I know work while going to school and they pay out the highest tuition with no help from parents.
Get 2nd jobs since you kids are old enough to be at home alone and pay them off in 10 years.
Then help your children if you want to and have the energy.

Thanks

Anonymous wrote:Get new jobs that pay twice as much.

Tough to do in mid-50s

Your student loans. Your kids can go to community college and work during school year. All foreigners I know work while going to school and they pay out the highest tuition with no help from parents.
Get 2nd jobs since you kids are old enough to be at home alone and pay them off in 10 years.
Then help your children if you want to and have the energy.

Anonymous wrote:You do both, as well as increase your retirement savings.

Especially if you do not want to have your kids in the same boat as you financially.

Also, they can go to state schools and take a boatload of AP and IB courses and get a full ride to college.

And, you move to a shittier shitshack because that is what you should have afforded in the first place.

What is your HHI? No excuse numbskull!

215K HHI

Get new jobs that pay twice as much.

You do both, as well as increase your retirement savings.

Especially if you do not want to have your kids in the same boat as you financially.

Also, they can go to state schools and take a boatload of AP and IB courses and get a full ride to college.

And, you move to a shittier shitshack because that is what you should have afforded in the first place.

What is your HHI? No excuse numbskull!

Anonymous wrote:And I will repeat:

How is this possible? You were in college back in the early '80s, like me. College was so cheap back then! I walked away with only 10 grand in loans and I had it paid off in 5 years.

Seriously, how do you not get this? Even before the OP said it, graduate school. Not everyone is like you. Good lord.

Anonymous wrote:When are your loans paid off? Surely in your 50's they're nearing the end of their 30 years?

20 years

Anonymous wrote:And I will repeat:

How is this possible? You were in college back in the early '80s, like me. College was so cheap back then! I walked away with only 10 grand in loans and I had it paid off in 5 years.

Grad school and did forbearances

When are your loans paid off? Surely in your 50's they're nearing the end of their 30 years?

And I will repeat:

How is this possible? You were in college back in the early '80s, like me. College was so cheap back then! I walked away with only 10 grand in loans and I had it paid off in 5 years.

started a new thread:


NP here -- what do you suggest with $250K in student loans, only contributing to retirement to company match (5%), and two kids in high school with $10K saved for each for college. (DW and I are in our mid-50s.)

(And no, we do not live in a $1mm plus house, have nice cars and have iPhones. We live in a $hitshack, have 12 yo cars and company-provided phones.)