Did you read the NYT piece on student debt and comments that Jane linked?

[LibraryLover]

I agree with as well. Private colleges in the US are up to and over 50k. (w/r& b). That's insanity.

 

I just wasted a whole bunch of time reading all those comments. They were more intelligent than I thought. I'm not entirely on the side of the Personal Responsibility Crusaders, but I don't think she and her mom get off scot-free. This is a serious, serious problem and these costs of college need to come down or at least stop rising!

[Jane in NC]

And if you are not totally sick of this subject, you can read Crunchy Con columnist Rod Dreher's take on the NYT article here. It is followed by loads of comments in case you need even more. :tongue_smilie:

[jld]

Thank you, Jane. I'm still trying to get through the comments on the Lieber column (only on #114, lots to go), and I need to get back to the Learning from the Mistakes of the Baby Boomers piece (or something like that) and comments on getrichslowly.org.

 

I just want to thank you and Organic Ann again for pointing out these very worthwhile reads to all of us. I think we're all getting quite an education on personal finance!

Edited June 1, 2010 by jld

[Renee in NC]

Thank you, Jane. I'm still trying to get through the comments on the Lieber column (only on #114, lots to go), and I need to get back to Learning from the Mistakes of the Baby Boomers piece (or something like that) and comments on getrichslowly.org.

 

I just want to thank you and Organic Ann again for pointing out these very worthwhile reads to all of us. I think we're all getting quite an education on personal finance!

 

It's been very helpful in that it made me really think about what we are going to do with the oldest when he goes to college the year after next. His tution is paid (if he goes to a private school or out-of-state school) but not books, fees, room and board, etc. His plan is to take out loans (YIKES) to pay for these things, but today I realized that he would have $40K in loans when he leaves school!

 

Not going to happen. I don't think his Dad plans to contribute (beyond working for the place that will pay his tution - that equals a $30K contribution!) So, the rest will be left to he and I (he won't qualify for need-based aid because his Dad makes too much.) I really need to figure out how this will happen...

[asta]

My dear parents paid for all of my college. My mother even took on an extra job to do so. And over 25 years later, I've never used my degree for anything, ever. My husband went to college and then grad school and then law school, and he and I took out loans to pay for all of it, and just finished paying them off a few years ago... right before our oldest was old enough to go to college. :)

 

Yes you did.

 

You educated your children.

 

;)

 

 

asta

[Aggie]

I had no advice given to me, but I had a child when I went to college. My parents hadn't "parented" me in years (I was pretty much on my own after 14.)

 

I wasn't ignorant - I knew that I would have to pay them back and that I would need a job to be able to do so. I just didn't have the experience to see what could happen in a life that would lead to being in the position I am in now.

 

You aren't alone, Renee. How many 18-20 year old have the experience and wisdom to make the right decisions at this age? Especially if their parents are done parenting because, ya know, "18 is an adult."

 

It's been my thought all along that many 18year olds may be mature, but that doesn't mean we, as parents, should stop parenting. Some of these financial decisions aren't merely "learning experiences" but they are financial disasters.

 

Dh and I have already decided to have the dc steer clear of the women's studies type of degrees the first time. They will get a useful degree. When they are 28-30, they are more than welcome to go back and get the degree of their dreams. But not on our dime.