Lots of dead beat dads on this thread.

I was fortunate enough to have college paid for by my parents, but I did the two years of community college route, then in-state for the last two. And this was back when college was about $15,000 per year all in.

I prepaid three years of in-state tuition for my son when he was in elementary school. This is in Virginia and I’m not sure they still offer that. The last year we paid out of pocket. He chose an out of state school but used the Academic Common Market for in-state tuition. And the school he chose was less expensive than any Virginia public university. He didn’t get any aid or scholarships. I’m hoping this gives him a leg up.

Anonymous wrote:Went to NYU undergrad. Parents paid for 75%, I took about 25% in student loans. Left college with $25K in loans. Paid the minimum.

Went to a fancy private grad school. Left with $120K in debt. Consolidated with my UG loan (I think $20K was still left from UG). Paid minimum for 10 years.

Everything was forgiven via PSLF. I think probably made about $80K in payments over the life of my student loans. It was dumb plan, but it worked out in the end. Never letting my kids do this!

slightly my story. came out of undergrad with $25k in debt. added another $100k for grad school on top of that. did 10 years in government service, all in all i prob paid $25k-30k over the life of the loan and just got $25k forgiven via PSLF. gov employer paid a portion of my monthly bill each month.

happy it worked out for me, but working very hard not to do this to my kid

No financial aid no loans. Undergrad in teaching. Parents paid 30%, I paid 20% from working, 50% in merit aid. Grad degree in teaching. 50% through scholarships, I paid the rest.

Anonymous wrote:Went to NYU undergrad. Parents paid for 75%, I took about 25% in student loans. Left college with $25K in loans. Paid the minimum.

Went to a fancy private grad school. Left with $120K in debt. Consolidated with my UG loan (I think $20K was still left from UG). Paid minimum for 10 years.

Everything was forgiven via PSLF. I think probably made about $80K in payments over the life of my student loans. It was dumb plan, but it worked out in the end. Never letting my kids do this!

Your kids don't have the option. You can'r rack up 120k in stafford debt anymore and private loans are ineligible for PSLF.

I’m old enough that in-state college was actually affordable and my home state was generous with merit aid so the money my parents had saved for my college paid for living expenses, summer study abroad, and part of my masters. But I had friends in college who were able to largely work their way though school because it was affordable 30 years ago.

Went to NYU undergrad. Parents paid for 75%, I took about 25% in student loans. Left college with $25K in loans. Paid the minimum.

Went to a fancy private grad school. Left with $120K in debt. Consolidated with my UG loan (I think $20K was still left from UG). Paid minimum for 10 years.

Everything was forgiven via PSLF. I think probably made about $80K in payments over the life of my student loans. It was dumb plan, but it worked out in the end. Never letting my kids do this!

Did this for DS. He did 2 years at CC, then transferred to a 4-year. I was a single parent and had saved for years, but only had enough to cover 2.5 years of tuition at a 4-year, and now that I am married, our combined household income is too high to qualify for any financial aid. So gave DS the option to graduate loan-free if he did 2 years at CC, or know that he would have to take on about $35-40K in loans. He opted for the CC route. Very proud of him. Totally doable, with compromises.

One of the kids went to expensive private undergrad and grad for 6 years, total cost of all expenses were around 500, earns $70k in a very prestigious and fulfilling job. Sometimes I think, if sent to community and state route and on their own for grad school, they may not get prestige or fulfillment but surely would be making as much. Could've given them a large check to enjoy life.

Anonymous wrote:

Anonymous wrote:How many of you had no financial aid but have no student debt for undergrad, grad or professional degrees? Who paid? Parents? Scholarships? Grandparents? Employers?

OP, why are you asking this?

To get a sense of if most parents consider it a good idea to pay or take student loans. Kinda like paying off for house or taking a mortgage. Not a deciding factor but helpful to hear how others who can, make their decision.

Anonymous wrote:How many of you had no financial aid but have no student debt for undergrad, grad or professional degrees? Who paid? Parents? Scholarships? Grandparents? Employers?

My wife and I both graduate debt free college. We had jobs and lived at home.

What a shocker actually paying for your own school.

Merit-based full tuition scholarship for all four years of undergrad. Parents paid for most of my housing, books, etc., with some help from me.

Took out $50k in federal loans for T10 law school. Had a half tuition merit-based scholarship. Funny thing about that - I picked the 30 year payment plan; I was 22 years in (as of this year) and the temporary PSLF waiver paid off the last $13k. Had I not had a 4%-ish interest rate, I would've paid it off years ago.

Anonymous wrote:How many of you had no financial aid but have no student debt for undergrad, grad or professional degrees? Who paid? Parents? Scholarships? Grandparents? Employers?

I dropped out of undergrad as a freshman, worked for an internet startup where I paid off my $4000 in loans, made a couple million, and then went back to state school and finished.

My father paid for all of us undergrad 2 boys and 2 girls... My brother and I took out loans for grad school. 1 sister didn't go to grad school but the other one her job paid for Oxford but she didn't finish.

Parents and me. Finished in 3 yrs, which covered 25%. RA jobs threw in about 10% per year atop that. Wage earnings at that age would never have done it.