Am I Crazy to Want to Pay for my Sons College?

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Am I Crazy to Want to Pay for my Sons College?

Posted by tylerbockler 1203 days ago, popular 1203 days ago (http://nodebtforus.blogspot.com)
Category: Personal Finance | Tags: college student loans

A conversation between a father and his father on the subject of paying for kids college.

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tamar 1203 days ago

My parents paid for college for me.

My husband's parents paid for part of his tuition. There was financial aid involved and he's still paying off loans.

Most, if not all, of my college friends had help from their parents.

I don't think the lesson is about money management whether or not the parents help or not. You can help your kids and they may still not be able to manage money. You can choose to have your kid pay his own way and he may even do a worse job at money management.

I think there's a lot more to this story that isn't being blogged about. Perhaps the parents' financial situation has something to do with it (but what about financial aid?)

thekritz 1202 days ago

This is a real dilemma, for good reason. On the one hand, one's education can reasonably viewed as an investment, in that it is only worthwhile insofar that future salary benefits will offset the current tuition. At the same time, I have several friends who are now deebt in debt from student loans, and have to pursue careers that they otherwise wouldnt have, simply because the pay is better.

tamar 1202 days ago

I actually pursued some additional education. I didn't go through with it but now I'm still paying off debt. So yeah, I hear both sides of the coin.

NorthNJ 1202 days ago

I think there is a lot of room for grey area on this topic.

I was assisted financially by my parents when i went to college, but gradually had to cover my own expenses as a I got older.

I had friends who were shoved out of the nest early, and had to learn to fly on their own.

My experiences seemed to be a lot more pleasant and more beneficial than my friends who had to go it alone, and I am in a better place financially that most of those friends.

tamar 1202 days ago

Agreed, NorthNJ (btw, where in NorthNJ?). I think it's a lot harder if you have to cover both college AND graduate school. I'd say that parents who are forcing their kids to pay for college either will find kids who 1. don't go to college or 2. don't go to graduate school since they're still paying off college debts.

It's a hard choice for a kid to make, especially at 18.

NorthNJ 1202 days ago

^^ Its a hard choice for an adult to make. Trust me, I am trying to decided if grad school is worth the debt right now.

And I'm in Hunterdon County, so techinally it should be NorthWestNJ, i guess.

tamar 1202 days ago

Aha, ok. And yeah - big dilemma. I wish I didn't pursue my extra education. I got nothing out of it and I am paying debts till 2020 or something.

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