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He did it backwards. Students can go to a community college for the first two years to get the basic courses done, THEN transfer to the school of his choice. The degree will be from the more expensive, more prestigious college.
Many students could get grants and scholarships for part of their college cost.
Staying close to home is best, for those who can cont. to live with parents for at least two years. That saves a lot of money and is a cheap way for parents to contribute without having to take out of their retirement savings.
He went to a good four year state school after the University of Chicago and had a desirable degree after four years. It was the increased costs of that state school degree. He wished he had done what you suggested and graduated from Chicago. A big money story is my youngest had a friend/roommate who had a brother who went to Cornell graduated and decided he didn’t like his degree, so he started over again at Univ of Chicago. His parents were both specialized physicians and could afford multiple kids in expensive schools.
My handicapped son lives with us and will continue to do so. Costs us a lot(you should see him eat) and is a major inconvenience, but he's my own flesh and blood. Would have it any other way. What would I do, toss him out on the street?
#1 Why is it some parents have the belief they owe their child a college education? I just don't get it.
If you can pay for it then pay for it but it is not owed... after graduation from high school they are ADULTS and can pay their own way which includes college.
Signing a student loan? Are you nuts? As I understand it a federally insured student loan is one of the very, very few things the government can take from your social security benefit which is crazy.
I was a real hard ass in raising my kids. I paid for college because I was able to but before I did they had to clear their major with me and convince me they could earn a free and independent living with their degree so once graduated I would no longer have any reason to support them.
Upon graduation from high school I purchased them a new car with the understanding that as long as they were in college FULL TIME without any breaks I would pay the monthly payment, the insurance and give them a gas credit card with the full understanding that if they quit school, or even took a "break", the car would be totally their responsibility. I would get my gas credit card back, stop insurance payments and if they couldn't make the car payments I would sell the car from under them.
They knew their dad over the years and they knew what I said I meant... there was no misunderstanding.
Like I said I was a real hard ass and meant every word I said.
Upon graduation from college I would sign the car over to them.... basically they would leave college with very little debt and a fully paid for reasonably new car.
A little college debt... I made them take a $1,250 loan for every semester so they would leave college with a $10,000 debt because I wanted them to have skin in the game. Poor babies!
They had jobs before they graduated but the rule was they had 30 days after graduation to find a job and be out of the house. I raised my children to be independent and that meant not living at home.
Why would a parent jeopardize their retirement for their blood sucking kids is beyond me. The secret here is to raise your kids not to be blood suckers by laying out all the rules early, clearly, repeat often and always mean exactly what you say and back it up. Never an empty threat.
If you are a dad you are not their best friend. Kids will have best friends their entire lives but they have only one dad so act like it.
These kinds of articles really tick me off because it isn't the kids it's the stupid parents that made them that way!
Well done. I probably wouldn't even have bought the car.
Well done. I probably wouldn't even have bought the car.
Read the book The Millionaire Next Door and the authors recommend the same thing (!).
I think a lot of older kids are just hoping to live in their parents houses when they die (due to the cost of houses these days) if they still live at home after college etc....
Read the book The Millionaire Next Door and the authors recommend the same thing (!).
I think a lot of older kids are just hoping to live in their parents houses when they die (due to the cost of houses these days) if they still live at home after college etc....
Read the book The Millionaire Next Door and the authors recommend the same thing (!).
I think a lot of older kids are just hoping to live in their parents houses when they die (due to the cost of houses these days) if they still live at home after college etc....
Hey, I read the book and I bought them kids new car or almost new, barely driven cars. They are now independent, debt free. One kid even studied a useless major. She is now making decent money, no need for help from us. The other has lots of money from her RSUs, so it’s not one size fits all.
Said daughter does not need to go to the "one school" to which she applied. The community college near me averages about $2,500 per semester, depending on how many classes you take (I know, because my 52-year-old husband is going to CC to get a college degree since he didn't have the opportunity to do so when he was younger). She can work during the day and take a class or two at night. Will it take longer? Yes. But to willingly allow her parents to take out ~$100,000 in loans just so she can go to her school of choice for four years is, in my opinion, selfish and shortsighted.
I believe those who have never handled their own money are clueless about its value.
Augie, my speciality was working with people with disabilities. After high school depending on the disability we would help them find employment, apply for SSI, if intellectually disabled maybe part time work, sheltered workshop, group home living, independent living skills such as grocery shopping, riding the bus, doing laundry, etc. This helps the kids become independent and when parents are gone they still have their own life.
Read the book The Millionaire Next Door and the authors recommend the same thing (!).
I think a lot of older kids are just hoping to live in their parents houses when they die (due to the cost of houses these days) if they still live at home after college etc....
If you consider that no more than 3-4 generations at a time living independent from one another, you wouldn't need that many homes to simply cycle in the young adults as the oldest generation can no longer live independently, and no one would have a house payment.
Tterry: my son is autistic. He can do a few jobs, like cleaning. He does go shopping on his own sometimes. Hes managed a whole week by himself already. But he still cant live on his own.
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