I refuse to take out a loan to pay for the children's college

Parents Forum
321

<p>Television and political science</p>

322

<p>Have you looked into what the careers in those majors pay and if it is possible to pay off the loans?</p>

323

<p>I have. Really those degrees aren’t the best to make money. The only way to make big money is to get into a good market or go to law school</p>

324

<p>

</p>

<p>I rest my case…</p>

325

<p>What case? Everyone knows there are less expensive alternatives than $59K/yr schools. I can list 1000’s of them.</p>

326

<p>Truman State:
Students who applied for need based financial aid 72.6%
Students whose need was fully met 34.5%
Students who received need based financial aid 52.5%
Average percentage of need met 82.1%</p>

<p>Bates College:
Students who applied for need based financial aid 52.2%
Students whose need was fully met 90.1%
Students who received need based financial aid 45.4%
Average percentage of need met 100.0%</p>

<p>[Truman</a> State University | Best College | US News](<a href=“http://colleges.usnews.rankingsandreviews.com/best-colleges/truman-state-2495]Truman”>http://colleges.usnews.rankingsandreviews.com/best-colleges/truman-state-2495)
[Bates</a> College | Best College | US News](<a href=“http://colleges.usnews.rankingsandreviews.com/best-colleges/bates-college-2036]Bates”>http://colleges.usnews.rankingsandreviews.com/best-colleges/bates-college-2036)</p>

<p>Average debt per borrower of graduates 2011
Truman State: $20,777
Bates College: $18,699</p>

<p>[Project</a> on Student Debt: State by State Data](<a href=“http://projectonstudentdebt.org/state_by_state-data.php]Project”>http://projectonstudentdebt.org/state_by_state-data.php)</p>

<p>Seems like the case for a lower-tuition school is not as clear as it might seem.</p>

327

<p>

one may change their screenname, but they don’t change their posting style, blossom, so it seems.</p>

328

<p>Nobody “has” to take out loans. If one refuses to do so, one must find a school that is affordable without loans … or the student will need to go part time, or find some other creative solution. This is not an earth-shattering revelation. Life is full of tough choices, and this is just one more.</p>

329

<p>lovetolearn - you do want to plan this well. Law also costs a lot of money and it gets intimidating once you start acquiring debt. Figure out ways to minimize the debt during undergrad.</p>

330

<p>“Nobody “has” to take out loans. If one refuses to do so, one must find a school that is affordable without loans…”</p>

<p>Good luck with that</p>

<p>"… or the student will need to go part time…"</p>

<p>ha. Have you seen what these schools charge for students who do not attend full-time? It often makes more financial sense to go full-time. </p>

<p>", or find some other creative solution."</p>

<p>This is an option, but often a risky one. Non-traditional routes don’t often have established job markets/pay-outs. Plus it is easy to tell as student to “go find a creative solution” - it’s much harder for them to actually forge that path. </p>

<p>“This is not an earth-shattering revelation. Life is full of tough choices, and this is just one more.”</p>

<p>It can be an earth-shattering revelation for a student, who’s been told his/her whole life to go get a college education, and then gets told “no, it is not affordable, go find some other creative solution”. I agree life is tough, but I sympathize with the current student who does not come from wealth and who is attempting to do what he/she has always been told is the best path, go to college.</p>

331

<p>Hopefully some students are getting the message that college isn’t always the best path.</p>

332

<p>What many people on this thread seem to be advocating is that “college isn’t always the best path, especially if your family does not have money.” That can be a tough pill to swallow.</p>

333

<p>“What many people on this thread seem to be advocating is that “college isn’t always the best path, especially if your family does not have money.” That can be a tough pill to swallow.”</p>

<p>You must be reading a different thread than I am.</p>

334

<p>I think what most people are advocating on this thread is that no matter what your financial situation is: </p>

<p>Don’t wait until Senior year to have a plan for paying for college. </p>

<p>Discuss this early and honestly with your child/parent. </p>

<p>Find out what each others expectations are and look for schools that meet those expectations. </p>

<p>Don’t try to change the game plan Senior year (the problem OP is having with spouse).</p>

<p>Look for financial options that work for YOUR family - whether that is part-time job, loans, scholarships, schools in YOUR price range.</p>

<p>Learn from the information others share. Then use it however best serves your situation. Do the best you can and don’t judge others choices - they aren’t the choices you might make but every person/family is different.</p>

<p>At least that’s what I got out of it. :)</p>

335

<br>

<br>

<p>Reality often is.</p>

<p>The stock market won’t keep going up forever.</p>

<p>Housing prices won’t be going up forever.</p>

<p>Borrowing tons of money to go to college doesn’t guarantee a job.</p>

336

<p>Anyone see this in the Times? Makes a reasonable argument for kids having “skin in the game.”</p>

<p><a href=“http://www.nytimes.com/2013/01/15/education/parents-financial-support-linked-to-college-grades.html[/url]”>http://www.nytimes.com/2013/01/15/education/parents-financial-support-linked-to-college-grades.html&lt;/a&gt;&lt;/p&gt;

337

<p>There is a thread about the NYT article <a href=“http://talk.collegeconfidential.com/parents-forum/1447000-study-finds-increased-parental-support-college-results-lower-grades.html[/url]”>http://talk.collegeconfidential.com/parents-forum/1447000-study-finds-increased-parental-support-college-results-lower-grades.html&lt;/a&gt;&lt;/p&gt;

338

<p>Those articles have been discussed in other threads.</p>