You are going to upset me on the matter

You are going to upset me on the matter because I totally agree with you. My DH and I have one child right now, she is only 2 but we haven’t been able to save one cent for her college. We can’t even save for ourselves and I’m sorry but I’m not going to eat cat food so that I can pay for her to go to college. If I’m able to help her then I will do that but I feel if she wants to go to college and hopefully she will then it should be her responsibility to pay for it. It may seem selfish but I know she will understand. And I think by her paying her own way she will work harder to make good grades knowing if she doesn’t she is wasting her money.

My daughter works 2 jobs and I have worked at the HS guidance center and have spent many hours researching the way for her to pay the tuition. Since she has no credit she can’t get a loan unless her parent co signs it and since we are already in debt why put more for us to pay? SHe as and is doing all that is possible for the family. The government keeps telling us that we owe so much money towards the family contribution and that is where the problem starts since ths school use that as the foundation for financial aid. Its rally not the financial aid office that tells you how much you pay. Its really the government when you fill out the FAFSA form They don’t take into account your life, just what you manke and what they can get from you.

My daughter has a frined that has divorced parents. THe mother doesn’t work and had custody BUT the father makes $150,000 year and she get the money from hime to stay at school at a cost of $10,000/year. But her $25,000 tuition she just pays $4,000. NOT FAIR but the FAFSA is under the mom and there is no income but the little that the daughter makes over the summer. Wish I could know how to llie but well……..

I’ve sort of avoided responding to this but your BTW inspired me. I have no idea what financial aid offices look at when it comes time to determining grants, etc. And I have said many times, I have no idea where the money goes. I teach part time at the University of San Francisco and my salary for the year is equal to the tuition of 1.25 students. There are 10,000 students in the school and far less than 7500 employees. 😎

This is a real tough topic for everyone to agree upon. I was a great student (3.95 in high school; 3.88 in college) but my parents’ petty bickering when they were divorced left me on the lurch. Since they did not pay for my education, I (to this day) figured they didn’t really care. But that was because they were too selfish and it wasn’t the case of wanting me to appreciate the expense of college which I did.

Then I have students now who are in the perpetual party mode. I’d love to have a chat with their parents and tell them they could just hand me the $24K in tuition and it would go to a much better purpose than it is for their son’s or daughter’s education (and don’t get me started on the jeweler’s daughter comparing Beverly Hills fashions with another student LOL).

How to handle a child’s education is really a very personal and individual issue and no one should be criticized for their decisions in this regard.

What would you do if you had about 13,000 in cc debt?

What would you do if you had about 13,00 in cc debt and a child that is going to a $25,000/yr school. She has taken out as many loans as she can and has received a $8000 yr scholarship. She is always on the deans list and also works 2 jobs and pays for most things herself. That leaves us with a monthly school payment of over $700 plus our other bills. With an income of 10,000 for me which all goes to school my husbands $60,000 is what is left. And no we don’t go on vacations and spend anything that is not necessary on ourselves. I have clothes that are now coming back into style and Walmart is the place I buy my clothes. How would you do a budget with this and still have money to pay the CC debt. Most of the debt was from having to put the downpayment on the school so we could afford the monthly payments. Any help is appreciated greatly.

Parents don’t need to go into debt for their childrens college fund. There are scholarships, grants and student loans out there. You just gotta do your homework to locate them. There are also scholarships aimed directly at certain union members children, African American and Native American children. Many organizations will also target various neighborhoods. There’s also the good old fashioned WORK your way through school.

I am new and am glad to see this blog available.. My husband took ill and when he did all our bills were years and months behind. While my husband was recovering from a major heart attack that almost killed him. I was coming home to 3 children under 10 and shut off notices for everything. My dh never shared with me what was happening. He had a fine job we were poor money managers.He has never been able to go back to work since. Through God’s help and with no income at times… mostly we survied on 20,000 a year social security with a mortgage. We became totaly debt free including the house.I homeschooled my kids took care my dh and we got out of debt. I left so much out but it was an incredible time for us. I felt like I was playing a game and winning it financially. We have stayed out of debt 7 years and are looking forward to prosperity. Time to move forward. I am now starting to teach others how to get out of debt.I am so looking forward to all of your advice…..and suggestions as I have only my limited experience to go by.

Do those PLUS loans have deferred payments, like student loans? I think those PLUS loans were for parents. I can’t believe how expensive school is now. When I went, it was only a few thousand a year for a Cal State school, not including books and rent, etc. I know it’s not good to take on additional debt, but if it would help alleviate some of the pressure off of you now, it might be something to consider. Your girl is obviously a hard worker and my hat is off to her because I never worked that hard in the beginning. You must be a very proud mom!

Also, here is a video on balance transfer:

BTW, don’t you love how the financial aid office always tells parents how much they are expected to contribute? My mom was a single working parent of my 2 younger siblings, barely stretching her paychecks and there was no way she could help pay for college. They’re like “Oh, you make this much money….. no, no, we don’t want to look at your list of outgoing monthly expenses”.

Our goal also is to be debt free

What killed us is that we had to place a $4000 school downpayment onto a credit card. That was our last resort or daughter couldn’t go to school last fall. She has student loans out but this was part of what the government said we can afford. Funny thing is they count my income (10,000) a year as income when they take out of us $13,000 over the 10 month school period. The only option we have is a parent loan and how are we supposed to pay for that? So for 2 more years we have to suffer and then there is a 1 year time off and then the next child will be in school.

One company that has a great transfer offer is Discover. I transferred all my balances at lifetime 0% interest. the only catch is that you have to perform 2 transactions per billing period to keep the rate. No minimun charge. So what i do is twice per month I buy something for $1.00 and i pay off the extra $2.00 at the end of the month. You have to be diligent. For me it was great because i was coming off cards with 25% interest.

This is probably not Politically Correct and may really upset several people, but would someone please show me where it is written in either the Bible or the law that parents must pay for their kids college? My parents supported me going to college, they were always patting me on the back and encouraging me to go, but they did not have the money. I was only able to afford one semester and did not finish until 10 years later, working 3 part-time jobs with a wife and 2 kids. When my oldest graduated HS, we did not have the money either. When his college got through calling me everything lower than whale dung, they found more scholarship money. Like some of you, I made too much on paper for him to be entitled to any government handouts. My other son is currently working his way through his senior year of college and will graduate with no student loans and no money from me either, though he does live at home rent free.

This is not a bragging story, this is reality. My wife and I have been struggling like many of you and we refused to go into debt for out kids college.

Just my two cents worth.

collegesI am, in no way, coming down on those who pay college tuition for their child, it is a personal decision, but here is my tiny little 2 cents on the subject…

Even if I had the money to send him to school, we would still make him pay his way through college. When my dad was paying for me to go to school, I did not appreciate it and I didn’t work hard. I was having too good a time to study. I ended up leaving school my second year. Several years later, I had to put myself through school, with student loans and grants. When I had to work my way through college, yes it did take me longer, but I appreciated it much more. I knew if I failed a class and had to retake it, that was more money I had to pay for additional semesters.

Now, if my son graduates with a good GPA and he worked his behind off, we will probably pay his school loans off so that he doesn’t start his adult life with both feet stuck in quicksand.

My aunt just went through this with her son. He was goofing off, failing classes and I told her to cut him off because he needed to learn to appreciate an education. This advice comes from my own personal experience. I knew several people whose parents were fully paying tuition, rent, books, spending cash. I always felt jealous of them at the time (almost 20 years ago), but now I realize that I don’t want to pay for a 4 year long party.