I had enough money for my kid’s 4 year tuition if going to an in-state college. When my kid wanted to go out of state, I said I had enough for 2 years only, with the understanding that that was all there was from Daddy.
The kid started working for the school, which gives employees a 75% discount. There was no looking back!
Now the kid is going to Cal Tech with for a Ph.D. with 0$ debt incurred.
Where there is a will, there is a way!
I work at a univ. and these students honestly believe ‘work’ is beneath them.
They have NO conception of what ‘work’ IS
Well done, Art! Kudos to you and the kid both. Many moons ago, thanks to scholarships and many hours of work-study jobs, I worked my was thru a rather costly private college in four years without a penny of debt. Where there’s a will, there’s a way. That said, the desirability and necessity of a college education nowadays is grossly overstated. I recently bought my forever home (paying cash) and then hired local workmen to do some necessary work around the place. Electricians, plumbers, builders, stuccoers, roofers — without exception they were outstanding at their various jobs, and they seemed to be quietly proud of their work. Even the shy Mexican immigrant in the straw hat who single-handedly delivered and unloaded a huge load of lumber . . . Toxic masculinity my ass.
We helped our children with their homework, showed them how to organize their studies. Took them outside and used the great outdoors for vacationing. And kept their noses clean by staying involved. They all went military, they all got degrees before their tours were up, they all used their GI bills and they all stayed productive.
It wasn’t easy but we sleep better at nights knowing they matured into adulthood and are responsible family centered adults themselves. Thank You Lord for guiding our feet and making our hands to work in their lives. Amen!
Wife’s nephew has to date ran up 175k with no major yet...
Absolutely.
One of mine graduated in May as an Astronautical Engineer.
First, he found a small, private engineering school. It’s highly regarded in his field and has no sports program to suck away academic money and added fees. He joined a high school robotics team. The school gave him $20000 scholarship just for being on the team and about $30K in other scholarships. The school has no dorms, just apartments so his food budget was at his discretion, not a forced meal plan.
Since we knew his income would be rivaling mine in a few years, we chose to loan him as much as we could. He did take out a few small school loans.
His part time school job was in his field at NASA and even included educational reimbursement. He made enough to cover the last two years of college completely.
He shares a house with four other guys and drives an old car. His student loans will be paid off in under a year, then ours, then he’s home free.
So, last July, we bought my wife a used car. I figured I’d rather take a loan and pay it off at 3.5% interest vs. the 16% the money was making me in mutual funds.
When we looked at the car, the dealer really wanted to book a sale that day so he was going to let us take the car and send him the down payment when my financial advisor sold off some funds. My son happened to be home that day and I asked how much he had in the bank. $9,000. I said “Good. Write me a check for $6,000. I’m calling your loan.”
The borrower is slave to the lender y’know.