Quote:
Originally Posted by Buccaneer
Those are good points. If a child is motivated and picked a good, marketable major, then I have no problems in saying one of the best gifts you can give the child is not for the child to be burdened by large college debt when they graduate. My son will, at this rate, have about $25k total (assuming no additional scholarships) but he is already well on his way in his career and I think he will be able to handle that.
|
Yeah I see nothing wrong with a kid owing a modest amount of money like that, whether you as parents can actually afford to cover it or not. My dream is to be able to pay the full freight for our kids, but have them think we/they are taking out a loan for a portion of it, or have them actually take out the loan which we will then pay for. But either way, tell them they need to pay $200/month (or whatever is decent at the time, not a prohibitive amount) and collect that money from them until it's paid off...while actually saving/investing that money and handing them a nice check when they are ready for the next stage of their lives.
Quote:
Originally Posted by tarcone
For those of you that have young ones, I suggest starting a 529 plan now. It is tax free when using it for school and the amount you pay in every year is tax deductible. It is a win-win.
|
Not in all states. Fuckers.