I Want To Make My Kids Pay For Their Own College!
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- Опубліковано 12 січ 2022
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My personal experience with engineering school was that I could not work my way through school. I spent 60-80 hours per week studying and doing homework. Even still, I finished with about a B average. 30-40% of the class failed every exam we took. It required diligence and I wasn’t partying. I am extremely grateful for the support my parents gave me.
Did you also do school during the summer? My ex had a summer job that helped pay her student loans.
@@bigqwertycat In engineering, you can either take summer classes, work a job, or intern. All three are good uses of the time (and save money).
Right? Engineering is serious business in college.
I did engineering school and work both part time and looking back I wish I could have had the opportunity to go full time. I would have graduated in half the time.
@@Excalibur2 Yea if you go to state school and put in 40-60 hours of solid, hard work, you can pay off the debt.
Ok but don’t force your kids to go to college then 💁🏼♀️and don’t get upset if they decide to go a different route.
Great thought.
The point is... Don't pay 100% so your kids learn to be responsible. Abandonment is not what this is all about.
@@stephenc2481 I totally agree.
Great answer, Dave! We did the same thing. We paid for their college but made sure they know how to behave responsibly. They are successful people now.
The measure of success is in Being, not in doing.
We want to be Great Human Beings, not great human doings.
The same here with two other siblings. And no dinning out in my memory for whole family in my memory.
Still pay the highest gratitude to my deceased Mom instead of that pinch penny capable OM, but never feel content with love with skin deep affairs.
You got know there are a lot of low income and egostic incapable fathers and old single men in the world.
And A LOT AND NUMEROUS.
@@aolvaar8792 so you don't believe great human beings show they are great by having great human doings?
@@aeroeng22 Boy, you butchered that, verb/noun
Sometimes there are things that matter more than money. My parents cash flowing my college has me in a financial position to start having kids in a few years while my dad is still here to see them. If i was still 50 grand plus in student loan debt kids would be beyond the horizon and his degrading health would mean my kids probably would never get to know their grandpa.
“You can’t buy time with money.” - Warren Buffett
What money does is it gives you options.
@@genxx2724 ???? Steve Jobs "bought time"(registered with all the transplant centers and a fueled Lear jet)
a Liver and added time to his life, he was dying from a rare form of pancreatic cancer.
@@genxx2724 Nonsense. When the Higher Authority tells you it's time to go, you can have all the money you want, but alas...
While you have a valid point, sir, I beg the question if you go the community college - state school route, how the heck do you get 50K in debt if you work on the side while going to college? Some people just haven't figured it out at 18 and want to go to an expensive private university...for an arts degree. Come on...
There is strong research to show working more than 15-20hrs a week in college has negative effects on GPAs and increases dropout rates. For some majors (STEM) it can be essentially impossible to work this much and pass. If you can afford to send your kids to school, you should. Doesn't mean you have to send them to an out-of-state private university, but somewhere that they can receive a quality education in their field.
currently working 18 hrs a week and doing 17 units of school , currently feeling the pain. Its possible but uh not without failing a ton a long the way
I was told VERY early on that I was paying for my own college. I made sure I had scholarships lined up, AFFORDABLE schools (side note, nobody has EVER asked me where I went to school. They just care about the degree so boutique and Ivy League not necessary), and a job during high school and college. I'm glad I took that responsibility on because it really made me see the value of the dollar, kept me from messing around, and I can say I did it on my own. It also made sure that I chose a worthwhile major that actually helped me get a job within six months of graduating (moved out of state etc.). I used the same plan when I got my Master's (paid in full). I say letting your kids pay for their college is a good idea. Makes it all more realistic for them and they certainly do not have to go deep into debt to do it.
Every interview/job I’ve had, has asked me what schools I went to. My undergraduate was a state university, my masters was “prestigious” - and definitely not worth it :)
My mom and dad divorced and my dad had children with another woman. I went to college got a degree in civil engineering, paid for by myself. My dad and his wife enabled my brother into uselessness and is still home at at 27 yrs old
Mine did the same with my brother!! He was still at home at 30.
I see that occurring and my brother is 18.....
much of the time, the parents are the enabler. But most won't admit it. Teach them to be independent and they can help themselves, when they are on their own.
Yeah enabling parents are a huge problem. Often times the parents have mental issues and want to keep hold of their child for as long as possible by not letting them prosper
So is this the comment section where the parents remarried and they now have step siblings?😂..I’m on the same boat guys..Funded myself to go to college and now doing well.But my step brother who is 28 still lives with dad and stepmom doing nothing but play video games.
I get where they’re coming from, but the parents’ income is going to reduce the amount of financial aid the kids are eligible for, so it’s not fair if they don’t help with college. Paying for college isn’t exactly “handing kids cash”. Sounds like these people are just using this as an excuse to be selfish and cheap by not starting a college fund. I paid for my own college, but I got a bunch of financial aid because my mom was unemployed and my dad was estranged.
Yeah I agree the kid should go go community College for a bit but I wholeheartedly agree with this.
I got the same impression. I thought he was trying to skip a step and be further along.
that's right; the 'financial aid system' is set up assuming the parents help pay something of their children's college expenses. If you don't get that from your parents, where are you going to get it?
Rich people groom their children for success. Poor people want their children to “struggle like they did”. But it’s completely fine for me if you want your kids to struggle because that means your children are going to be extremely profitable for my children.
100%
Facts
Is this not odd to be planning on not funding you're kids college when they're too young to even have their own personality yet.....why not just save it and don't tell them.... Decide if they're "ruined" when the time comes.
I moved out in the beginning of 11th grade due to living in an abusive household. It was incredibly rough still being in high school and needing to still work enough to pay rent, phone, groceries, car insurance, etc. As well as putting myself through state college and only just paying it off recently (NY state is still very expensive). But at 35 and debt free, I have much better budgeting and frugal skills than 90% of people who call in lol.
Who did u live with as a minor?
His phone reception was so bad they shouldn’t have taken this call.
Sounded like he was using hands-free speaker and overwhelmed the speaker by talking too loudly. I wish that the Ramsey phone ‘handlers’ would instruct people to stay away from placing a phone on speaker mode, and especially to talk directly into the phone, rather than cradling it against their cheek to make it sound like they’re talking through a hollowed-out potato.
@@probablynot1368 The call screener should be more discriminating. This is a radio show, not personal service. The staff who moderate the live chat are also unprofessional. Very snotty and supercilious in a manner specific to millennials. It’s a behavior that used to be specific to some overly-sensitive males of . . . a certain persuasion, shall we say . . . I have no clue why millennials thought this was a good behavior to emulate.
I thought the same thing. I've heard Dave disconnect with callers that were easier to understand. It must have been the subject matter that kept Dave on the line.
Best advice I heard. Make them pay the first year or quarter, then help as much you can with the rest.
I didnt even get a book bought for me. Hope they know their income impacts the financial aid package.
Exactly. The school believes that the parents have an obligation to pay at least a third and will state that amount in the financial award given.
Skin in the game is degree in hand. You can always suprise the student and pay it off when they turn 30 if you able and they are worthy.
Im in law enforcement. I paid for the academy myself!!! You definitely try harder and apply yourself more when its your own money at stake!!! Im not paying for a full ride for my kids period. I will help but not foot the entire bill!!!
Your academy makes you pay ?
@@politicomonsoon they certainly did back when i started eleven years ago. They just started sponsoring students within the past year.
As a parent you're going to know by the time they are almost done with high school whether or not they are worth investing in. And remember it's largely a result of YOUR parenting skills for those first 18 years. I'm happy to report my kids are winners and worth every penny. I'm happy to pay for their education. It makes me proud to give this gift to them, and I know they appreciate it.
Preach! Parents have 18 years to teach their kids to appreciate their education and any advantages they might be given
Excellent job! WE all win with parents like you and kids like yours.
What about if they go to school and they ended up not using the degree? And they work in a field that doesn’t need any type of degree. I know someone whose parents pay from start till the she got her bachelor’s degree. She got a good GPA. She is the one stressing the parent that she wanted to go to university. Thousands of dollars spent and then she became a stay at home mom. How is that fair for the parent?
@@LifeHappened sounds like "life happened"
I agree, though be careful with those pennies, education dollars are misspent more often than they are spent well.
Listening to this dad, you can tell he's a cheapskate. He's not trying to teach any lessons, he simply doesn't want to pay the money and is seeking Dave's validation in order to feel good about the ridiculous idea. Perhaps he doesn't feel the need to plan. In any case, if he does refuse to pay, he needs to have viable alternatives for them to be successful. He'd just better cross his fingers that his stinginess doesn't eventually land him in a nursing home.
Yeah you can always start the college fund now and see how things shake out when the time comes
I add " An impotent OM". LOLOLOLLL
HE couldn't spread out all full straight A card in his past. He was taught in this way when he was young.
Now he becomes children's OM and passes the same way.
Poor is Poorer . Rich got richer.
Yep. You can tell it's because his kids are young so he's just started considering how much 529 plans would eat away at his budget.
You are definitely a bad parent if you deprive your children of ANY support for college by design (vice by necessity- there’s a big difference).
What about if they go to school and they ended up not using the degree? And they work in a field that doesn’t need any type of degree.
@@LifeHappened so you wouldn’t help your kid on the assumption that they’d do that, even though you have no reason to believe that will happen at the time where they need your support?
@@LaurenOpara101 because it’s not “help” if your encouraging your kids to waste time and money.
If your (keyword, YOUR) kids would waste such an opportunity, doesnt that reflect poorly on the upbringing you provided?
I have no worries that my kids will waste the chance to further themselves because I will have instilled the values needed to be responsible, disciplined adults.
@@JayKast I agree
My parents had a pretty simple contingency. “You guys are, under no circumstances, taking out student loans, so either you get a full scholarship to the school you want, or you go to CUNY and try to transfer into an Ivy League with scholarship if you want.” Me and my sisters all ended up getting full scholarships to our schools of choice. Sometimes you just need a bit of incentive. They also made it clear that when we are applying for jobs, they’re looking for the degree, not the school you got it from
most employers dont care about your degree. more like knowledge and skill
@@Fc9ers Yeah that’s true, the point was more so that we shouldn’t take out loans to go to Ivy League because at the end of the day employers won’t care where you went
@@Fc9ers ...maybe u can get away with a job. but if you want to move up in management, a degree is a must.
@@Fc9ers False depending on the job type
I thought the Ivys had a policy of no academic scholarships?
Agreed with Dave all the way.. one other thing I did to help my kids perform at school is retroactive reimbursement.. they have to work to earn the tuition for first semester.. I reimburse A, B, and C grades so they will have the money needed for the next semester. This is one way to have them put some skin in the game and also ensure the behave with what's provided to them.. mess around with D or F and you're going to have to work to get that tuition caught up.
I like the idea of matching whatever scholarships they get and whatever they save for their own schooling. I like the idea of them writing a check out of their own money for school. It makes them realize there is value in what they are doing. They may actually get mad if they have a lazy teacher that doesn't do their job.
As a recent college grad who paid for it all 100% by myself I will never wish that my parents had paid for it for me. Paying it myself taught me values I probably never would have learned otherwise. If you are going to pay for your kids college it has to come with conditions.
I was in the same boat as you. But a lot of snowflakes in the comment section beg to differ. I work in academia, I can see the result. I can cherry pick the students who pay out of pocket vs students who didn't have to pay for anything.
Did you pay for it with cash during school or did you just repay loans on your own? Asking out of genuine curiosity. Was it a 4 year degree? Congrats in any case.
@@BASEDinMaine Yeah bachelors degree in engineering. Worked at a restaurant while going to school and paid for half with cash the other half with loans. Paid off all my loans within less than a year from graduating.
@@mathisnotforthefaintofheart When I was in college I could tell the difference as well.
I also feel like why should parents spend their hard earned money on their kids lives? Let the parents have that money to live their own life and let the kids invest their resources into what they will benefit from. I get that parents love their kids but you can't forget to live your own.
I didn't have my college paid for, yet I'm saving up to pay for my kid's college. I've struggled with this same question. A large part of my work ethic that I have now is because I worked through college to graduate debt free. As long as my children learn the value of hard work (and are responsible), I'll help them with the financial burden.
The trouble also for students, whose parents don't help at all is that the universities believe that the parents should pay a portion, around a third and state that amount in the financial award given each year. So the kid has his allotted share, the parents share and the schools financial aid share again with the typical financial award.
yup, our EFC==expected family contribution is the entire cost.
I hate it when people use those dumb, outdated, Horatio Alger, “started from nothing” stories as an excuse to not plan for their young children’s future higher education needs-when there is still PLENTY of time to plan, save, and invest.
Ur just jealous u didn't start from nothing cause ur life was boring
There is no reason to go to college anymore. It’s a waste of time and they are only turning out communists.
Even if you put aside $10 or $20 dollars a paycheck into their fund, it will definitely help. Coming from a college student who's parents provided no financial support for tuition. College is stressful enough, especially for the stem majors, no need to stress them out even more financially and then make them worry about having debt later.
Save for their college but dont tell them. By the time they are like 16, they will show you if they deserve it. If not, use that money and go on vacation and live it up.
My philosophy is we will look at your grades at the end of each semester:
Any classes with
A’s: I pay for
B’s: we split 50/50
C’s and lower: they better get a side job, or scholarship or something other than my pocketbook
YEP!!
Most universities make you pay for courses at the start of the semester. I’m curious to know how that works by looking at grades near the end of the semester.
Except some people are just not naturally good at some subjects. I took a writing class in college no matter how hard I tried I still made a C. Another semester I made a B in a English class. I was on the President's list every other semester. Some kids are good at school and it comes easy to them some kids can work their heads off and still get B's and C's. You can't punish them for that.
LOLOLOLLL then I needed to pay 2/3 by then.
Come on. LOLOLOLLL
@@Heyitsmaria24 they sign up and pay and I reimburse
Just be careful the degree they get is attached to an actual job. Also, make sure you aren’t buying what Woke University is selling. Do your research before you throw your money away.
exactly! Especially since the parents are not going to pay for the kids education, the kids better get a degree that have jobs in it like healthcare, technology, engineering
In other words get a degree that solidifies a job!! Too many people going to school getting degrees in something that there’s no jobs in and they don’t have a realistic plan for how they’re going to utilize their degree once they graduate!
What you talking about fem1nism studies can make u a great job a macdonalds 🤣
Why not help them pay for college but you tell them to get a job for other payments (books, on campus housing, etc?) Ideally, what I plan on doing is making sure my future kids get scholarships.
you can't "make sure" your kids get scholarships. They have to earn it.
If you have a high performing child, making them pay for their own school absolutely limits their career options in the future. What you pay for tuition at top schools is ENTIRELY dependent on your parents income - buy and large, there is no such thing as merit aid at Ivy League institutions and most of the top 20. Instead, aid is determined by family income.
Not every child can get into Harvard - but if yours can, and you have significant wealth, by choosing not to contribute you are closing some pretty significant doors for a child that may otherwise go on to do truly incredible things.
Remember Dave had a girl call in a while back because her parents wouldn't pay for her college and were buying a second house or something instead? Dave was disgusted! But it's the same situation here - sounds like the guy can afford it but he just doesn't want to
@Austin Duke gross? They're adults now. You must of had a spoiled life
Any idea of what show that call was on? Was it recent? Or is there a UA-cam video of that call? I'd really like to hear that conversation
@@xStr8UPDoPex Young adults, though, who need guidance in navigating programs and degrees.
You may be technically correct…but giving your child a handshake and a shove out the door at 18 is a good way to not see your grandkids.
@@jaredflurry937 man I disagree. Have your kids live at home with you go to community college for the first couple years then to a public university.
My good friend had a deal with his parents in which if he graduated with a STEM degree they would pay half his student loans off. Thought that was a pretty good idea on their part for both accountability to grades and not to take out more loans than needed.
a deal with no cap amount? what if the kid borrow 300k?
Kind of a good idea
I may have gone into dentistry or even shot for an MD had I not had to work 30 hrs a week to pay for living expenses. In retrospect I should have taken the loans but the debt terrified me. I’m in healthcare now, but my job is not stimulating and pays much less.
Sir, it is very possible to give your kids a leg up on college through the Middle College process. Both our sons used it to cut between 2-3 semesters off their degree programs.
Middle College allows high school students to complete their Junior and Senior years at a Community College and earn a bucket full of transferable college credits as ZERO cost. High school work in the mornings and college classes in the afternoons.
Between what we had saved for them, plus what they did in Middle College meant the burden was shared and not too horrible.
Modern states first year free program, Air Force CCAF, then the Post 911 GI bill with AU-ABC program. Earn your degree while getting job skills and living in a different state/ environment.
I paid for my school then if I passed my classes I would get reimbursed class and living expenses. Great way to incentivize doing well!
There was no discussion about finances or college plans when I graduated high-school. It was just already pretty clear if I was going to go I'd have to figure out how to pay for it.
When a student applies for financial aid, the aid program gives them less based upon the income of the parents. I knew students who didn't go to college until after they were I believe 25 so that this didn't impact them and it's easier to study when you're used to studying from high school, a gap between high school and college makes it harder to get back into it.
I had to pay for my own college. It took 10 years but I got it done as a working adult. I'm now having my two college aged kids work and pay for their own as well. They have no time to goof around but they're getting it done. Two years at the community college and two years at a state university will cost about $25k. Now this plan does require for your kids to work so may not be suited for everyone, but it's very doable.
10 yrs and how many % of your income annually???
WOW...unbelievable but I understand.
This is a good plan and similar to my history.
Great plan! I told my kids that I'm saving money for you, but if you really want to go make sure you work hard to get those scholarships!
Kids that have their degree paid for get a freebie? That makes no sense. If they are able to put in the work to get the degree there is no “freebie” there. If my parents never contributed to my undergrad I would’ve never been able to complete a medical degree. Both my parents were hard working but I can’t compare the cost of college to my parents’ cost of college - no comparison there
The college is free.
Nobody said is was no effort.
That's the problem with the whole college mentality.
Effort and value($) are not the same.
just to let parents know don’t feel guilty if you would like to make your kids pay for school. my parents always taught me dave ramsey teachings growing up. i paid for my first car, i paid for any new phones or tech i got, and currently i’m 18 in college and have the full amount of money i need for school saved up. this past year i worked two jobs (12-14 hour days) and saved 80% of my paychecks. now i have saved the amount i need for my two year program plus a little more, so don’t feel guilty if you want them to pay. i’ve truly learned work ethic growing up buying everything for myself and i’ve learned how to handle my money responsibility at a very young age.
i was also smart in choosing to go to a community college myself rather than moving to a university like all of my friends and getting charged an ungodly amount of extra money. you DO NOT have to go to a huge well known university and live in a dorm to get a solid education.
At our income kids get no grants. Having them pay it all would be almost cruel; they would graduate with gobs of debt. Mine was paid for and not having that debt was helpful.
It’s sad, because there’s no requirement for parents to pay a dime toward college. The criteria for grants shouldn’t make that assumption.
You know, you can stop claiming them on your taxes and then they can get all the grants they want.
@@ZannaTheGreat How many years before applying must you stop claiming them? Not relevant to my life now, but I’m curious about back when I was applying. My parents knew nothing about the process, and my dad didn’t even have his tax return prepared yet. It was such a panicked fire drill. Sad. If there were any angles to be worked, we sure didn’t know.
Exactly right.
@@genxx2724 I agree 100% that there should not be an assumption.
My own experience: without one single exception, every friend or associate I know whose parents paid for college failed at least one class. Without exception, those who paid for it all themselves didn't fail any. Now I know my sampling is small, but that is what I experienced. My folks could not afford it, so I paid and I turned out greater for having to fight and struggle to do it on my own. I want my kids to have a better life, but I want them to work for what they get.
it is crazy for parents to cover all expenses. that kid will graduate (or not graduate) with a spending habit like money comes from the sky.
Weird. I know a bunch of people who got their college paid for and excelled in every class and now have amazing jobs.
Dave is giving great advice here. If you don't help your kids pay for college it will take them 20 years on average to pay it off. (with alot of interest)
I get his point, but I just can’t imagine not wanting to help my kids if I have the financial means to do so. It’s possible to bless your kids with a paid for college while also teaching them how to handle money responsibly and have a hard work ethic.
You can't teach hard work ethic, if you give them everything. There may be exceptions.
My high school senior son will be going to a state school this coming fall. I am able to cash flow his education (thanks to my late wife's social security survivor benefits he's been receiving that I banked away for close to the past decade that she has been gone; probably one of the few smart things I've done in my life (although he doesn't know about it, at least he doesn't yet)). I told him that I will pay for tuition, room and board, and book rentals. Everything else is on him. Which brought us to the next discussion, which is that this coming summer isn't going to be all fun and games; that he is going to either take two summer classes, which I'll pay for (they can either be in person or online), or he has to get a second part time job. He decided to go the summer school route (my hope is that it will give him a taste of what academic life is like in college before he actually goes). He is also doing a work study program while away at college, on top of the federal and state grants, but student loans are out of the question (saw too many of Dave's videos on the havoc of student loans). His housing deposit also came out of his pocket. And I will definitely be pushing for a paid internship the summer between his junior and senior year.
I worked and borrowed my way through college while my parent squirreled away over half a million in retirement savings.
Parent now laments the fact that my sibling and I are “too independent” because we were taught to be self-reliant to a fault. My point, be carefully what you wish for when you teach your children that you can’t be relied upon for financial support.
As long as this caller never needs help financial or otherwise when he's old . . . Don't call if you need a ride. Don't call if you need help covering medical costs or your utilities.
definitely. He can budget for his own nursing home with what he's not saving for kids' education.
My first financial adviser told us not to fund their college but we felt different. I kind of wish I would have listened to him now. That money would have tripled by now. But oh well, they are a part of the small percentage that is not saddled with student debt
If you want your kids to work for it great! Make them have to make deans lists for the money to pay for college. If they are doing that and staying out of trouble then they are appreciating their education and seeking the money. That’s the best way to go in my opinion. Make them take extra classes to graduate earlier etc…
There's a huge middle ground between paying nothing for your children's college and paying for everything. Paying half or 2/3 of it isn't going to turn them into spoiled brats.
Or a third.
Or a quarter.
Or an eighth.
Or a sixteenth.
Or, tell the kids to work through high school - quick the stupid ball club and bust it with their own company and become a millionaire without a degree.
WHO SAY SO??? I WAS 100 % sponsored and ever saved my mum's life by my own hand and knowledge.
Your words are low income family's rationale.
On the contrary, I ain't like those low income kids with poor imagination, egostic and liars.
Total BS.LOLOLOLLL
I had to work to pay for college and couldn’t handle it or at that time didnt feel it was worth it, quit school, left to work two jobs, then on to one big career, ended up making more than my college graduate friends, but looking back I would have appreciated a paid for tuition and have taken the time to get a degree granted I am not sure it would have led to more money.
LOLOLOLLL
How old are you now??? And how long did you graduate from the school vs those college or uni friends?
Maybe once your hair turned grey the super income you thought better than those finished education friend will be ONLY HALF OF THEIRS.
Steve Job was like you, but he got friends to start up Apple. Actually, he ain't anything computer invention kid but a good SALESMAN FOR APPLE.
I’m glad my parents didn’t give a dime for my college. I was spoiled as heck and work ethics and how to overcome financial struggles was something I learned in college. I wasn’t going to learn if my parent gave me free handouts.
Dumb reasoning by the caller.
yeah, he sucks.
When you don't earn something you don't appreciate it.
I don’t think so. I’ve received inheritances over the years that I invested wisely, and greatly appreciate the results.
if you are a selfish POS already, then you don't appreciate it.
@@karimbennett5651 I totally agree.
@@karimbennett5651
What he said didn't apply just to you.
@@karimbennett5651 You are fiscally responsible though. Many 18 yr olds with undeveloped brains dont value what they dont have to work for. Paying for college is one of the first steps that teaches a valuable lesson. Granted parents and counselors explain to the child what theyre getting themselves into....
Coming from a low income family I cash flowed my education myself. I didn't qualify for a scholarship and my parents didn't have a dime to pay for it. I worked for it, I agree with making them work for it, I did it and I'm doing well myself, my house feels different knowing I paid every dime for it working and being smart with money but to each his own
the same boat as you but I would never let my kids go through that stressful period as I did. You can teach your kids to be hard workers without having them suffer through working 50 hours a week and school on top of that.
@@ademd7099 i completely agree. I worked full-time when I was in high school and got really burned out by graduation. So what I did was I worked 50,60,70 hour weeks after high school and saved over 100k by the age of 23 and I used a percentage of that for college. But I most definitely agree that working full-time while going to school full-time is a killer. There's ways around the system, people just have to think and work for it. It just comes down to how bad you want it 💪
@@yaboijuan4052 respect the hustle brother 🍻 They will never know the struggle but best believe they ain’t sitting home 24/7
@@ademd7099 couldn't have said it better myself brother, wishing you and your family best of luck in this challenging times, respect
The fact that your parents didn't have a dime enabled you to get more aid than if your parents were affluent. That's one reason why parents with means should pay for some portion (not 100%) of their kids' college expenses; parents having high income and wealth makes college more expensive for their kids.
Why do people feel it’s a parents responsibility to pay for a kids post secondary education?
I joined College ROTC to get college paid for. There are companies that will reimburse your college tuition for every passing course. There are scholarship programs such as sports or academia. In some states like mine there are High Schools thst let you earn your Associate's Degree along with your High School Diploma. Also FIFSA grants. Many programs will pay for you to become a teacher! Look around there are all kinds of options!
Very true. I hope his kids have someone schooling them on what is available for them.
Same here. I bachelor's was funded by an Air Force ROTC scholarship. Another advantage is I had a job waiting for me when I graduated. I ended up staying on active duty for a career.
@@robertcampbell6349 WE are a grateful nation for you Robert.
@@pep590 Thank you.
the associate's track alongside/embedded in high school should replace what passes for standard high school in America. I would have loved that in hindsight.
I paid for undergrad, graduate school was on their dime. They are amazing children, successful with an amazing work ethic.
Nice
You know the particular children and I don't. Some would take free college as a party opportunity. Others would take the freedom from obligations as a chance to work hard and do the best they possibly can. Either way, summer jobs are a good idea, but I lost a couple of points in my law school average by working during the year, and I didn't have to! My scholarships, off-season work, and my wife's work would have covered it but I wanted to be responsible and I shouldn't have, judging by the results. I could have been number one in the class if I hadn't, and that status would be permanent.
My parents paid for my uni, i would like to think that i was behaving very responsibly, i know how hard they worked for that money! And i had a chance not many had
As a parent, I think if I were to say that I'm not paying a dime for college, I am setting them up for failure. The reality is education is not as affordable as it used to be. Gone are the days where you can work a full time job and pay for school at the same time. I have some money set aside in 529s but don't expect it to cover anywhere near the total cost. We might get a little help from grandparents too. But other than that it's probably going to be student loans and maybe a part time job to pay for some living expenses. But I think matching their student loan payments might be a way to incentivize them to take care of that quickly once they graduate. So my philosophy is that if you are willing to help yourself, I will gladly help you.
"As a parent, I think if I were to say that I'm not paying a dime for college, I am setting them up for failure" Here is where you are wrong. You are setting yourself up for failure if you become their ATM for paying for college. Ever heard of community college and then state school? Ever heard of working 20 hours a week to pay for stuff? You tell your kids this and tell them that they are most welcome to stay home while you provide them with shelter, food, car and warm parent love. You stick a couple of bills in their hands off and on but THEY should pay for their college. That way they will value the courses they take because they paid for it.
I think there needs support at well. If you are working full time, while in college, you are far more likely to fail, drop out, not graduate on time, and not get the most out of it. There is only so much time and so much one can do.
At least for me I had a substitute position at a school district. If I needed more money I could do more hours, if not they didnt care! Best flexibility for a college student!
@@mathisnotforthefaintofheart maybe you only read half my post where I mentioned a part time job and matching their payments on their student loans.
@@raiden031 I say no to student loans. Clear?
@@mathisnotforthefaintofheart your approach sounds like a recipe for failure
I miss land lines!
We have paid for (and plan to pay for) our kid's college. We can, so it's something we want to do. As Dave said, there's no right answer one way or the other. The kids are either quality people or not and that was determined before college. Paying for it isn't going to ruin them. Not paying for it isn't going to make them great people and vice-versa. What will create extreme difficulties for them is not paying for it and letting them take big loans.
I was able to get through college with good grades and a strong work ethic. I got grants and scholarships to pay all my college.
I will say though not everyone will be lucky. Parents should lend out a hand because you can only do so much on your own.....
College is a waste of time and money. A vast majority of college graduates end up working in a totally different field, and with a job that doesn't require a degree. I wouldn't pay a dime for my kids college. In fact, I wouldn't even bring kids into this crazy world nowadays.
Right… I know someone whose parents pay from start untill the she got her bachelor’s degree. Thousands of dollars spent and then she became a stay at home mom. How is that fair for the parent?
It is perfectly fine to think like you, and not have kids. But if you have kids, it is your duty to at least provide a reasonable way where they can get an education, supporting themselves when they are no longer under your care. Paying 100% is not advised; but doing nothing is also bad, as a parent.
Didn’t mention the trades once.
Correct. Plumber I know makes six figures after a few years on the job.
In my opinion, if one has the money to afford it they should help the kids stay out of "student loan" debt.
What about if they go to school and they ended up not using the degree? And they work in a field that doesn’t need any type of degree. I know someone whose parents pay from start till the she got her bachelor’s degree. She got a good GPA. She is the one stressing the parent that she wanted to go to university. Thousands of dollars spent and then she became a stay at home mom. How is that fair for the parent?
That’s pretty selfish on the parents part. You’d give them college money but only if they work in that field the rest of their life? What kind of gift is that?
If you’re going to give the kids college money then you have no say in what they do with the degree after they graduate.
@@stevenbeach748 What are You talking about? Then the child should pay for his/her schooling so he/she can do whatever he/she wants with her degree. The example I used previously the child didn’t even use that degree since she got it. Not even for one year.
It doesn't have to be either, or. Help them some AND make them work
I wish the callers would use a landline and not their cell phone....You don't need to fund you kids college or education but don't expect them to give you advise either in their field of interest either.
I paid for my college so my kids dont have too. Their a million other ways I can teach my kids values in life without making them pay for college themselves and I'm sure they will turn out ok.
I don't see it that way personally. I earned my career and life, they can earn their own too. I want to live and enjoy the fruits of my labour, they can earn theirs as countless others do. Parents providing well until the age of 18 is good enough. They can work hard and struggle and earn it.
If the hiltons thought like you they would be no hiltons
Lol this is my moms mentality!!
Still paying student debt at 32.
I will definitely pay my Childs way if I can.
Such a head start at life.
Agree 100%. The improved focus they have to just study and set up their life after college is so much better if it’s somewhat paid for. I’ve seen responsible kids who had everything paid for and irresponsible kids who took out debt or paid for for it all. It’s all about setting up a plan in college to succeed after and having it paid for does help tremendously.
I and my wife, we paid our college by ourselves, poor kids, I had the Vietnam GI Bill, and we both worked our way through college...we owe no one. BUT remember, as you become very old, your kids will choose the poorest, most cited nursing home, to place you in.
I don't think that putting kids thru college is an obligation. However, in my opinion, if you can, you should. And years of frivolous spending on yourself should not be the reason why you can't. That shows that you put your own gratification ahead of your kids future. Now like Dave says, if they choose an easy low paying major and/or don't perform, then you should not allow them to abuse the privilege and squander your wealth. We are putting our third thru college at the moment, and I previously put myself thru.
cant hear calller
I don’t have children but I plan to adopt. I agree with Dave🎯.
Honestly, I paid for my own college. I couldn't allow my parents to pay for something I wanted but honestly don't need nowadays.
Yeah I won a full ride. Parents didn't pay a dime.
@@jacobpatterson9440 That's great.
We work hard so our kids will have a better life than us and train/raise them well with a moral principle in the process..So yes we will pay for their school if they decide to go to college..
What about if they go to school and they ended up not using the degree? And they work in a field that doesn’t need any type of degree.
it is your choice. But the main point of this discussion is about kids learn to be responsible.
I work hard so my life is better then it was.
I can't control what anybody else does, but I can control my success.
All you can do for your children is try to show them the truth of that.
If they choose to adopt that belief, they will raise great kids and live a great life.
My money will do nothing significant for them if they accept that truth.
The caller has a good plan. Didn't need to call in
My parents paid for 70% of my college as long as my grades were good, and I paid the rest. I cared about my college grades because I didn't want to waste my parents money, plus I had skin in the game. Most people don't get scholarships and working a job to pay as you go doesn't work. Your kids are more likely to decide NOT to go to collage at all without some support from parents. You are setting them up with some serious debt without your support if they do go.
Having the choice between paying for a kid's schooling, (or even cosigning loans for such), and having them live at home until they're 25 (provided they have a job, contribute to family finances, and budget out a plan to get their feet set), I'd choose the latter in a heartbeat. Parents can at least get some utility out of that and monitor the situation.
Why should parents need to "monitor" a 20 year old?
Because there are a lot of 20 year olds who need monitoring.
@@superblump87 because childrens brains dont develop until 25.....
Why do all the callers sound like they’re calling from a potato
Why, in 2022, can we not get audio that doesn't cut in and out. If this is the technology age, we are in trouble.
Heck no I’m not paying my kids college
Yes absolutely you should!!!!! How is it your kids fault that your finacially well enough so they can’t qualify for finacial aid but not that you didn’t save up money to help them pay for college.
The kids can qualify if the parents don't claim them as dependents after 18. While I agree with your sentiment, Dave also doesn't teach getting into debt for anything, including school -- this means federal financial aid as well.
If other parents help their children and you don't even if you had enough time to put in small amounts that creates an every man for himself atmosphere.
I'd just start a 529 account and put in $1000 to start off once my kids are born
I’m a single mum so unfortunately I just don’t have the funds to pay for it. I certainly hope it doesn’t make me a bad parent 🥺
The problem is financial aid is based on your parent's income so not helping them out will increase their chances of having to take out loans.
True. But parents can help in some different ways. a car. a computer. spending money. a place to stay (if school is close by). They can also help partially, so that the kid can juggle part-time work and learn the value of the dollar.
@@stephenc2481 Or maybe invest some money into an index fund that the kids can access when they're older. That's way more effective than the other stuff because they still will end up in debt.
i think kids should have skin in the game but affordability is so bad as a parent you should help if you can. I budgeted 80k per kid, the rest was on them so they will graduate with 25k in loans. i don't feel bad for them for that I graduated with 35k in loans in 1994 when my job offers were for 22k.
Better yet, tell your kids not to go to college and don't have them pay for a worthless degree.
do you have a car garage? that is where your kids will be, if they can't support themselves. You can guide your kids to not get a "worthless" degree. An engineer, an accountant, a computer scientist... will do just fine.
This guy needs to teach his kids about money well before he pays for their college. That’s the issue here. He doesn’t trust his kids bc he doesn’t teach them financial literacy
His kids are babies. Not too much to teach them currently.
I will absolutely pay for my kid’s college. No difference from preschool, elementary middle and high school. My kid’s education is part of my responsibility. I’m not sending my child to society already losing either burnt out trying to work and study at the same time or loaded with student debt. Unless it’s his own choice to work his way through college, like I did.
He’s LDS 100%
They think they EARN everything including salvation and don’t need grace.
I have my STEM Degree four years ago and if there is no issue at all I will be able to be debt-free by the end of the year as I have been able to extra pay
My niece is starting early taking STEM classes at 14.
I don't get all of those people who don't think education is the key to success. I am sure there are other ways to be successful. But an education is a sure way to be successful/self reliant for most.
trade school aint bad
We will pay for tuition... but the kids gotta live at home. I’m not paying for dorm life.