Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Only a fool gets married in 2021. Save yourself from this kind of nightmare.
Quote:
Clark was preparing to pay for his five kids' education as part of a two-income family, but he and his ex-wife divorced in 2011. Just a few years later, when the children started going to college, he decided to turn to federal loans to finance their education himself. (Due to private circumstances, his ex-wife isn't contributing.)
Last edited by Oldhag1; 09-26-2021 at 08:55 AM..
Reason: Don’t use red font
That debt needs to be handed over to his five children. The parent Plus loans need to be shut down, they are a significant part of what has driven up college costs. The schools will not charge above what they can receive. There were alternative solutions to taking out theses loans, the kids could have gone to community colleges or colleges near their homes for less than $110,000 each.
The kids, if you missed it, only have $20,000 in debt each. The man should be retiring in about 10 years, they have 40 years to pay off the loans. It was their education. Who should be carrying that burden?
__________________
When I post in bold red that is moderator action and, per the TOS, can only be discussed through Direct Message.
Yep. That's all there really is too it. There's plenty of data available showing which degrees offer the best ROI. I find it ironic that we live in the information age, where data is literally available at one's fingertips, and youngsters claim to be great with technology, but they aren't able to figure any of this out.
I'm probably in the minority but why do parents think they need to pay for their kids' college??? My kids all know that we will NOT be footing the tuition bill although we will help them out with room/board if they choose to live at home (basically by NOT charging them rent lol!). In fact I'm encouraging them to go work for employers who will help pay for tuition.
Well.............................. due to my income, my kids were not eligible for loans. I grew up low income and had to struggle to pay for my college and med school, despite scholarships. My dad gave me $100 when he dropped me off at college and that is all the financial help I got. Living like a bum is no picnic.
So I paid (and am paying) for my kids college. Three undergrad private educations, two grad schools, one medical school, and one nursing school. The med student is done this year, but the nursing school one has three years to go and may want to be a CRNA(he is a CPA, but hated it, so he is changing careers). I estimate that I have paid $1 million so far for education.
However, I am GLAD TO PAY FOR THE EDUCATION and don't feel it is a burden, but a pleasure to allow kids to pursue their goals and come out debt free. Each of the kids gets a free house and new car upon completion of their education. One has already cashed in on that- two more to go.
You guys are looking it wrong. Everybody dies and you don't take anything material from earth with you including debts. What he is doing is giving his kids and grand kids a better shot at life. He has a $550,000 debt that when he dies the collectors will just write it off and move on. Unless his kids will pay it off which they are not legally responsible.
Even if you pay all your bills, cars, house, you don't take anything with you when you die. It's just money and it gets moved around. The federal government knows this and keeps racking debt. It's just numbers. He is making a trade. Having a debt until he dies so his kids and grand kids have a better shot at life. When death is around the next quarter in life, I think for some it's a good trade off.
Well.............................. due to my income, my kids were not eligible for loans. I grew up low income and had to struggle to pay for my college and med school, despite scholarships. My dad gave me $100 when he dropped me off at college and that is all the financial help I got. Living like a bum is no picnic.
So I paid (and am paying) for my kids college. Three undergrad private educations, two grad schools, one medical school, and one nursing school. The med student is done this year, but the nursing school one has three years to go and may want to be a CRNA(he is a CPA, but hated it, so he is changing careers). I estimate that I have paid $1 million so far for education.
However, I am GLAD TO PAY FOR THE EDUCATION and don't feel it is a burden, but a pleasure to allow kids to pursue their goals and come out debt free. Each of the kids gets a free house and new car upon completion of their education. One has already cashed in on that- two more to go.
Your privilege is dripping through in this diatribe. If only we could give all of our children free homes and cars…
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
