do you think you'll put away money for your kid(s) college fund?

or do you think you'll let them ride it out on their own?

or somwhere in between?


i had grants & scholarships for most of my education but took out loans for the rest. my parents paid my rent & car insurance and i took care of everything else


i think a balance is good. save up enough to help them buy the stuff for their dorm & first apartment. but i think putting the student loans on them isn't such a bad idea. i mean if we're rolling in it and have tons of money to spare i don't see anything wrong with picking up the tuition tab but otherwise i think it's a good start to becoming an "adult"

8/31/2006 7:05:45 PM

I'm going to give my kids a full ride and a new BMW to take to college so people will know they are cool.

8/31/2006 7:10:24 PM

yeah assloads of debt is a great way to tell them to "grow up."

if i have enough ill gladly pay their tuition so they dont have to start out in debt. i just want their ass to focus on school, get decent grades, do internships, and get a good job.

8/31/2006 7:10:44 PM

i'd like to be able to save enough to pay for my kid(s) college and major expenses. i'm not gonna just hand it over though. if they turn out to be a little brat, they can pay their own way, i'll just keep the college money for my own retirement. i'd prefer for them to work while in school for their personal spending money, but it would be nice for them not to have to worry about the rest so they can focus on preparing for their future

8/31/2006 7:12:46 PM

maybe a "rewards" program could work out

agree to pay for the classes they get A's & B's in but anything below that they pay for


and i totally agree with wanting them to get good grades and internships while in school so they can land a good job

8/31/2006 7:22:45 PM

my dad said:
a) go somewhere public, in-state and we'll pay
b) bust your ass in school or at sports and get a full ride to somewhere out of state/private

8/31/2006 7:49:22 PM

My dad said: Go to college and we'll help.

What he meant was he'll help me with the paperwork involved in applying for tons of loans to cover my school. When I graduate I'll be approximately 20k in debt.


I am looking forward to it...

8/31/2006 7:52:10 PM

why the hell would you not put away money for your kids education

"so kids even though we could afford it we decided not to save money for you because we want you to learn a lesson. so work as many jobs as you can in high school and get ready for a lot of debt"

8/31/2006 8:00:27 PM

i dont see why i'd want to have my kids start out life in debt...i'll help pay if they go to an in-state school, and have them pay me back rather than a bank

8/31/2006 8:04:29 PM

student loans arent that bad!!

they help build good credit for buying things like a house

i'm not saying leave them out in the cold

i'm saying give them some responaibility over their own education

8/31/2006 8:09:54 PM

Quote :

"yeah assloads of debt is a great way to tell them to "grow up.""

8/31/2006 8:16:57 PM

entirely depends on how much $ the parents have

for dirt cheap schools like NCSU and UNC, i'd feel like a fucking douchebag of a parent if i didn't pay for my kid's tuition (assuming it is not a $ issue). i wouldn't give them any allowance - they'd have to work for that.

but, if they go to duke, they will pay for everything.

8/31/2006 8:19:31 PM

my parents taught me about money and responsibility without making me accumulate student debt

and student loans arent bad because you went to nc state. what if my kid wants to go to a private school, or a state school up north somewhere.

8/31/2006 8:21:17 PM

I can relate to what you are saying wolfy. If you pay for your kids and give them a full-ride all the way through college, they may not learn much about having debt, building credit, and being a responsible adult. On the flip side, if you don't pay for anything, and allow them to accumulate a lot of debt and do poorly in school while working dead-end jobs, you aren't helping the situation either.

8/31/2006 8:27:32 PM

of course it depends on how much the parents make

and how expensive the school is

i am saying-- let your kids pick up a portion (or all of?) the tab

8/31/2006 8:27:40 PM

when i was a freshman in high school my parents started talking to me about how much money they made, how much they were worth, how much different things cost, how various investments and savings work, etc... when i was 18 they helped me get a credit card and manage it responsibly

i have a great credit score, pretty decent savings and investments for my age, and zero debt

8/31/2006 8:32:28 PM

hell no. little shits better get a scholarship or else. i'm getting a boat

[Edited on August 31, 2006 at 8:52 PM. Reason : sdfsdf]

8/31/2006 8:52:24 PM

Quote :

"My dad said: Go to college and we'll help. What he meant was he'll help me with the paperwork involved in applying for tons of loans to cover my school. When I graduate I'll be approximately 20k in debt. I am looking forward to it... "

20k is not a lot of debt. If I really wanted to, I could easily have paid that off within 2 years of graduating. Of course, the interest rates of your debt determine how fast you should pay that off.

I would bet that your average single engineering grad could have done the same. That cash accumulates fast. That debt just means you won't get a new car or do international travel to exotic locations in those first years. Not a big sacrifice considering the alternative.

If you picked a good major and career field, the money spent on education will produce very good returns. Especially at a college that is a very good value like NCSU, taking on that debt should be a no-brainer.

Quote :

"Major : Communications"

Whoops, I guess that might entail some difficulties.

[Edited on August 31, 2006 at 9:04 PM. Reason : communications - ouch]

8/31/2006 8:58:33 PM

I would like for my kids to get a scholarship and will encourage them to do so. If they don't I will pay for it no questions asked, but I'm only paying for 4 years (unless they double major or something). They will not be allowed to get a job that is unrelated to their major end of story. That was what my mom said to me (she didn't have to pay for school though so she just used the money she saved for my allowances).

8/31/2006 9:25:07 PM

20k wont cover one year at a lot of schools

8/31/2006 9:28:33 PM

I'll save as though my target is a full ride to a private school, and not tell the kid.

Believe it or not, working, getting good grades, and getting relevant experience aren't mutually exclusive, so that argument holds no water with me.

I'll expect them to do their part (good grades in high school, searching and applying for scholarships, and choosing an appropriate school [no reason to go to, say, Colorado State for an english degree], and to have established some savings), and I'll do mine.

Knowing that mom and dad couldn't bail me out financially, no matter the issue/problem, taught me very quickly to be responsible with my money. Far too many students have no common sense when it comes to money, and things that everyone should do, but dont, get you called 'jewish' (e.g., use someplace like SECU if you're able, instead of wachovia).

I will be a lot less willing to fork over $texas for something like an english or history degree for undergrad, but I also won't withhold money from them because of their degree choice.

8/31/2006 9:28:52 PM

My parents paid for my school and put the student loans in my name. So when I graduated I had no car, no credit (I had to lie and say I was still a student in order to get a credit card after I graduated, I had never had one in college, and I wanted it for emergencies), and $13,000 of debt. Granted, that's not a lot of debt compared to most people. However, I graduated four years ago, I'm still paying off those loans, and I didn't get a car until about a year ago.

Having student loans doesn't build character. I've seen lots of people in debt and it does nothing for them.



[Edited on August 31, 2006 at 10:11 PM. Reason : .]

8/31/2006 10:06:29 PM

^^Most, if not all public, in-state schools are much less than that. Private, out of state is a luxury that the kid will have to earn.

8/31/2006 10:08:40 PM

i got a full scholarship from my parents but so did my two sisters, one graduated from UNC Hell, and the other from NC State...my brother lasted 1 semester at UNC Charlotte before he flunked out.

8/31/2006 10:09:04 PM

i think my rewards system is the best idea

pay for the classes they do well in

and make them pay for the classes they dont do well in

allow for 1 c (hey i've had my share) if they counteract it with a revelant internship

sounds good to me

8/31/2006 10:52:39 PM

Quote :

" revelant internship"

And you're only allowing them one C?

9/1/2006 2:30:38 AM

Quote :

"do you think you'll put away money for your kid(s) college fund?"

no doubt

9/1/2006 2:41:00 AM

^^ rotfl

touche

typo, sue me

i typically have pretty decent spelling but even thats embarassing

9/1/2006 7:13:16 AM

i can't find my old post on this topic but it was something along the lines of

are kids mad if their parents weren't smart enough to save for their college tuition - mine paid for the entirity of my college tuition/my little brothers/2 step-brothers/step-sister - they were smart enough to have enough saved to not have to worry about it b/c they planned early

my kids will never have to worry about paying for school

living expenses while in college are an entirely different thing though

9/1/2006 10:17:07 AM

Quote :

"living expenses while in college are an entirely different thing though"

9/1/2006 10:30:19 AM

My parents didn't save a dime for me, I'm not smart enough for scholarships... I'm not mad at them, but I'm also not happy about owing a ton of money out of college. My 4 older siblings did the same and they are doing great at the whole real life thing.

9/1/2006 10:42:05 AM

i plan on saving for my kids education the day they are born (if not during pregnancy). i was very greatful that my parents had some money saved up for me (i ended up going out of state, so i did work and get scholarships). its nice coming out of school with a clean slate....no debt.

9/1/2006 10:44:23 AM

No matter if you pay for your kid's school, or they get a scholarship and it's paid for, I think they should bust their ass having a job over the summer, or even two, and that's their spending money, and if it runs out, they better get another job. And if they get screwed and are up to their ears in credit card debt, that's their problem, too.

9/1/2006 10:49:40 AM

i agree....im talking about paying for school, not their fun.

9/1/2006 10:51:11 AM

yeah, i'll be damned if i give my (potential) kid an allowance every month that goes to pizza and beer. i'll be calling them tubby over christmas and telling them to get their ass in the gym.

9/1/2006 10:54:22 AM

Quote :

"i agree....im talking about paying for school, not their fun"

9/1/2006 11:16:47 AM

Quote :

"I'm going to give my kids a full ride and a new BMW to take to college so people will know they are cool that I will have effectively done my parental duties."

It's definitely better being in the real world, but the manipulated environment of college is nice because it stagnates the class system, and not just within students but among all staffers of the University as well. Your treatment within the system is also influenced by money at a more vicious rate than in an active job market.

[Edited on September 1, 2006 at 11:23 AM. Reason : ]

9/1/2006 11:19:10 AM

I am kinda getting worried about my student load debt passing the 10K mark then i realized that for a lot of schools 10K is a fraction of a cost of one semester. I should be able to pay my deft off in just a couple years after i start making $bank as an EE grad

9/1/2006 11:31:18 AM

Don't rush to pay it off.

9/1/2006 11:36:18 AM

Yeah enjoy that new interest rate kick they just gave back in July 1st.

Unlucky kids, but at least you'll save money on taxes right?

9/1/2006 11:39:15 AM

Quote :

"my kids will never have to worry about paying for school living expenses while in college are an entirely different thing though"

i'll gladly cover school, rent, books & a modest amount to eat on. beer/entertainment is on them.

9/1/2006 11:45:12 AM

I have pretty good parents..my parents started saying money for me and my brother to go to school when we were born.....after my brother graduated from unc ch last summer he goes to med school now...they are paying for all my brothers stuff down in the dominica including rent, food, tuition. My parents pay for my tuition, apartment, and car insurance (we didn't have to pay for the car, i got it through a will)

I would definately start saving money when my kids are born because who knows how much the price will be in 20+ years

9/1/2006 11:59:34 AM

Quote :

"Don't rush to pay it off."

why's that?

9/1/2006 12:03:06 PM

i just started paying on my student loans and i plan to have them paid off within 2-3 years

the idea is to pay student loans as slowly as possible because it's at a lower interest rate and the money you're NOT spendng on paying off the loan in huge chunks, you can invest and earn a higher return

i'm not very investment savvy so this doesn't interest me right now

i'd like to pay off my student loans so the only debt i have is on a house

also, what is there was some huge emergency that required a lot of finances-- i wouldnt want some stupid student loan from 7 years ago keeping me from taking care of such a thing-- but that is a personal choice (to pay off loans sooner rather than later)

9/1/2006 6:21:36 PM

Under no condition will I make my kids pay for any of their education

I dont plan on being poor, or an idiot

9/1/2006 11:40:05 PM

When they're 13 they'll decide which university they'll go to and I'll get a job there so they'll have free/discounted tuition or some kind of scholarship for nepotism.

9/2/2006 1:43:15 AM

united negro college fund ftw

9/2/2006 2:20:23 AM

this "rewards program" will screw them over more than being in debt

9/2/2006 9:57:56 AM

Quote :

"why's that?"

Because usually the student loans you get are at a very low % and you would be better off investing any extra money in the market 401Ks IRAs etc instead of paying it off asap. It's the same thing with mortgages.

9/3/2006 11:17:52 PM

set em up

9/3/2006 11:18:25 PM