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Old 10-06-2014, 05:04 PM
 
Location: Round Rock, Texas
10,083 posts, read 9,321,830 times
Reputation: 13143

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"I really don't think finding a way to save up around 50k per child in 18 years is really too much of a sacrifice to ensure your kid has a decent start in life. It's around $2,800/year per child if you saved up from birth. If you can't put that much away a year per child, should you really be reproducing?"

This statement right here reeks more than garbage sitting out on a Texas summer day. Who the hell are you to dictate to others how much they should save (if they choose to save at all) in order to have children? Spoken like a true kid who has had her parents wiping her chin most of her life.
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Old 10-06-2014, 05:07 PM
 
15,758 posts, read 13,184,034 times
Reputation: 19646
Quote:
Originally Posted by Marlow View Post
When I started college in 1980, minimum wage was $3.10/hr. and was raised to $3.35/hr in 1981. I went to a Texas public university and in-state tuition was never more than $400/semester. A college student could work 15 hours/week and make $400 in about 8 weeks to pay for a semester of school.

Now, minimum wage is $7.25 per hour (roughly doubled) and average tuition at a Texas two-year college is $1,111 per semester and at a 4-year college, $4,261. A college student working 15/hours per week would now have to work about 39 weeks to pay for a semester (of approximately 13 weeks) at a 4-year university .

That's not even talking about living expenses, but I know that rents have more than doubled since the early 80's.

I understand the value that comes from working hard for something and believe that children should work and pay for some of their education. But wages have NOT kept up with the cost of education. To the extent I can help my daughter go to college and not come out many thousands of dollars in debt, I'm going to.

I don't agree with the OP's premise that you shouldn't have kids unless you can pay for all of their college expenses, but it's IMO it's not fair to say "I did it so they can do it" when the financial reality has changed so much.
This entire point cannot be overstated.

Everytime I hear people say "well I worked my way through college", I wonder if they had enough math to understand the ratio of minimum wage to cost per credit is EXPONENTIALLY different now.
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Old 10-06-2014, 05:09 PM
 
15,758 posts, read 13,184,034 times
Reputation: 19646
Quote:
Originally Posted by denverian View Post
Well aren't you just lucky?

I'm the first person on either side of my family to go to college and nobody paid a dime for me to go. I did a year in community college (with a Pell Grant), then spent 4 years in the Air Force to get the GI Bill, and still had to work a lot and take out about $5K in loans to finish up. I also received zero guidance or mentoring from my parents as they had no clue about college, careers, or corporate America. So I floundered for years out of college, broke, trying to figure it all out.

As for my kids, I don't want them to have to go through that. We're guiding them to get the education they need to be able to get scholarships (music, foreign language, community involvement, etc.) and plan to downsize our house when they're ready for college and use some of the equity for their tuition. But we expect them to work part time in college for their own needs outside of tuition and housing. Not all kids end up appreciating a full ride from parents.
Counting on significant scholarships for the things you listed is naive at best.
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Old 10-06-2014, 05:19 PM
 
Location: Purgatory
6,317 posts, read 4,444,319 times
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ONLY 77%

I'm sure my selfish mother would have estimated it more like 2% to try and justify her paying nothing when she had the money.
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Old 10-06-2014, 05:28 PM
 
12,921 posts, read 19,803,871 times
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Quote:
Originally Posted by lkb0714 View Post
Counting on significant scholarships for the things you listed is naive at best.
So is saying people who can't afford to pay for college shouldn't have children.
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Old 10-06-2014, 05:40 PM
 
10,506 posts, read 4,141,914 times
Reputation: 1193
Quote:
Originally Posted by stellastar2345 View Post
I read this article
Fewer parents helping to pay for college - Jun. 26, 2014

I don't know much about their sources or anything, but it's saying only 77% of parents plan to help their kids out with college.

Why have a kid if you don't want to (or have the means to) help the kid succeed?

Say what you like about college, but good luck moving anywhere without a college degree.

Even a masters degree is becoming a pre req for a lot of good jobs.
a college degree in business is as good as a high school diploma. any less and good luck.
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Old 10-06-2014, 05:47 PM
 
Location: between three Great Lakes.
1,633 posts, read 1,786,624 times
Reputation: 5389
from the O.P.'s first post:
"only 77% of parents plan to help their kids out with college. "

Only? ONLY? I'm amazed that figure is that high.

Any college professor will tell you that their best, most serious students are either "nontraditional" (academic-speak for "adult") or those kiddies who are footing the bill themselves.
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Old 10-06-2014, 05:51 PM
 
Location: Wonderland
41,013 posts, read 32,712,180 times
Reputation: 57123
Quote:
Originally Posted by lkb0714 View Post
This entire point cannot be overstated.

Everytime I hear people say "well I worked my way through college", I wonder if they had enough math to understand the ratio of minimum wage to cost per credit is EXPONENTIALLY different now.
The point for many parents, though, isn't how much the kid contributes, but that they are willing to contribute.

Like I've said before - no kid of mine would receive a dime of assistance from me in college if they weren't working part time and footing part of the bill. Like I said, they need some skin in the game.
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Old 10-06-2014, 05:51 PM
 
Location: Round Rock, Texas
10,083 posts, read 9,321,830 times
Reputation: 13143
Quote:
Originally Posted by Arach Angle View Post
a college degree in business is as good as a high school diploma. any less and good luck.
If you're smart, personable, and have ambition, you can succeed without a degree. There's a reason that even today it's optional. My husband is almost at a six figure salary and he didn't finish. No luck needed. Just the things I've aforementioned. We don't need to make more money. We are happy where we are in life.
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Old 10-06-2014, 05:56 PM
 
Location: Wonderland
41,013 posts, read 32,712,180 times
Reputation: 57123
Quote:
Originally Posted by Zenstyle View Post
from the O.P.'s first post:
"only 77% of parents plan to help their kids out with college. "

Only? ONLY? I'm amazed that figure is that high.

Any college professor will tell you that their best, most serious students are either "nontraditional" (academic-speak for "adult") or those kiddies who are footing the bill themselves.
I don't know where the OP got this figure.

Only 35 percent of kids aged 19-22 receive tuition assistance from their parents.


Parents just say no to college tuition | Reuters

What people say and what people DO are two different things.

From the article:
Quote:
As we're told on airplanes before every takeoff: In case of emergency, put on your own oxygen mask first, and only then help out your kids.
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