Got The Call Yesterday

[N80]

I have heard of parents going into debt for 50-100K to get a kid an Enlish degree. That is INSANE...

Well, I agree about the 50-100K part, but not about the degree part. This is a bit off topic, but only a little. But, I'm a firm believer in a liberal arts education. Too much of the education process in the US has condensed itself into a technical education even at liberal arts schools. The only goals are to teach people a trade whether it be medicine, law, business, engineering or applied sciences. And this is a shame. I know, because it happened to me. All science, all pre-med. And what we are generating is very highly trained technicians that make great producers of services and goods, and even better consumers, but who can't think! Again, I know. I graduated med school and realized that even with all that training my ability to think critically and process abstract ideas was very poor. The only think that will prepare you for that sort of thinking are the liberal arts such as language, art, music, history and most important, philosophy and literature. I've spent that last 10 years catching up on all that.

And my reason for this response is just to say that if all you want for your kids is technical training or high incomes, then the technical training is fine. But if you want your kids to be truly educated, let them get a liberal arts education and then go 'technical' in post grad which they will have to do anyway.

And if they want to major in a liberal arts field, let them. Ask them why. Make them justify it. Make them think about what they will do with it. But don't shut off funds because they want to major in liberal arts!

I could have been an English or philosophy major at my liberal arts school and still have gone to med school. I wish I had. There are more important things in life than technical skills and making money.

 

[MikePA]

I got a "free ride" thru college (thanks Mom & Dad)...

This is a great thread.

I got a 'free ride' too. Actually, my dad saved money for all 4 kids to go to college. He never told us how much though. (Oh, my dad never told anyone what he earned, either.) One sister graduated from Duke, the second sister attended Miami but left when she got married, the third sister switched schools so much, she ran out of money and I went to a branch campus and lived at home for the first 2 years and then to the main campus the last 2 years. I was so frugal, my dad gave me what was left in the fund at graduation which helped me furnish my first apartment. I had a part time job while I lived at home and worked over the summer, but that didn't go for college. I saved it, used it for gas money, etc.

We never got an allowance either (other kids in the neighborhood did). I earned money mowing lawns (using dad's lawn mower), a paper route, working in a hospital laundry (it was 'fun' sorting laundry that came down the chute from all the rooms, including the OR) and for a civil engineer (later to become my FIL).

(2 sets of twins 2 years apart).

My twin sister (the one who exhausted her college fund) and I were born just when my two older sisters were headed off to college, when my parents were in their mid 40s.

If you can afford to help your kids, by all means do it. If you raised them right, they aren't going to sqaunder your money away. If you didn't raise them right, it's too late to teach them the value of a dollar. Just my humble opinion.

I agree. My oldest, who graduates next month (after 5 years), with 2 bachelor degrees (Criminology and Sociology), was an OK student in high school, but never spent much time on the honor role. So, I was a little uneasy when she went off to college. Like N80, I didn't want to shell out $$$$ for Cs. Instead of saying something before she started, I decided to wait and see. Well, she's made the dean's list every semester.

My second daughter worked for a year after high school, decided to try college (local community college) and she wanted to pay her own way. She did well (deans list), but decided it was not for her.

My financial adviser is predicting that it will cost $650K to send my daughter in 17 years ...

Hopefully, by then you'll be making $500k per year!

 

[ToadHill]

We set a limit with each of our 4, 12K each. They each got 3K per year. If they flunked out the $$ stopped. If they it cost more they could borrow from mom & dad but had to pay it back. All but one went to State schools and graduated within the limit with the exception of one who went a fifth year to get his BS and paid back his loan when he got his first job.

If they wanted advanced degrees it was on their nickel.

 

[Highbeam]

I took a different path than most. Our state allows what they call "running start", you can go to the community college while in high school and the tuition is paid. So cool, I did this for my senior year of high school and knocked out all the lower level classes that make lots of folks take 5 years to get a four year degree.

Then, while living at home and working part time at pools, I finished up my two year degree at the CC with a very targeted and structured class load to line me up for tranferring to a 4 year school and my four year degree.

I then transferred right over to the University of Washington into my engineering department and finished up. No working during those last two school years since my "job" was to commute by car, ferry, and then bus to the school and live at home. Major savings this way but lots of commute time to do homework. Cool.

My senior year was paid for by the government since they wanted to hire me to be a naval architect for them. After graduation, I chose to take another job so simply repaid them for a ..... zero interest loan.

My father helped me with tuition and books as needed, plus free room and board at home. He saw my grades and progress and knew I would be a productive earner. Had I lived in the dorms for 5 years of college then you can bet I would have had loans and debt to deal with after graduation.

 

[scott_vt]

I got a full scholarship when I went to school. But it cost me my freedom....I went to the Citadel. For anyone curious about that particular prison, err, college, look here:

The Citadel - The Military College of South Carolina

Evenin George,
Yeah, but didnt you guys get together with the local female college up the road for friday night dances ..... etc ???

 

[mjarrels]

My boy stopped by last night... enrolled in classes for 12 credit hours at the local BRCC... I will probably pay that cost (about $800.00). One good thing is that room and board will never be an issue. I will probably help him thru Blue Ridge Community College and then let him out on his own. He lives in our second home... paying LOW rent and is about 4 miles from James Madison University. Just wish I could transfer all my unused GI bill funds!
Now my 14 year old daughter will be another issue in a few years. She wants to go to school in the Phillippines... Might be cost effective in the long run.

"My dad threatened to send me to Military school... I straighened up and flew right"

mark

 

[MossRoad]

My folks were broke. I have four older sisters. All of us were given a choice. Take out loans, grants, earn scholarships, and go away to school... OR... live at home with free room and board as long as you attend college full time. If you drop out, you pay rent. We would still have to find a way to pay for school ourselves, but no cost for R&B. That sounded good to me... mom's home cooking, clean laundry and my own private room!

So I worked 36 hours a week pumping gas into airplanes, drove military and postal trucks from AM General to railroad spurs around the area 2 half days a week and lifeguarded on a man-made whitwater course one evening and weekends in the summers, plus went to school full time. Oh, yeah, I was dating my wife, too. I put myself through 1.5 years of college before switching to technical college for three years. That was the toughest time of my life, but one of the most rewarding, too. I ended up with two associate degrees, a wife and no debts. A great way to be at 24 years old.

That was in the early 80's. Could anyone could do that today? YEP! If you go to Indiana University here in South Bend, Indiana, it is about $4000.00 per year. Costs and Financial Aid: Indiana University South Bend

That should be easy for any student to attain, while living at home free and working part time.

Look, don't get me wrong. I plan on helping my children all I can, but not financially unless there is some catastrophy. They have to learn to pay as they go and after high school is a great time to put that into practice. They will learn to manage their time, money and their life. Sometimes that is the best education you can get.

 

[jpm]

my older daughter had a's till 10 grade then the school system and being a teen took over ie; teachers not pushing her [ "a good student,we don't bother with her"] consulers "don't worry about your grades,its your parents problem" "you can get a marching band scholarship" pure bs. She was accepted in to a program 5yrs and she grads with a ms in teaching.1yr later $20,000 gone crappy
grades ect i'm done paying. she ends up at a local commuity school because she has to pay,grades go back to a's.she grad from a 4 yr school and has learned about hard work and bs
now my younger one is totaly differant,driven to be first in class,school is pushing her,so we will see

 

[turnkey4099]

I guess that I was very lucky. My kid got a free college degree via scholarships, so I guess that I have to disagree with turnkey4099. There are students who take their education very seriously with out having to work at a paying job to drive the point home. Since my kid graduated summa *** laude and Phi Beta Kappa, I have to assume that she wasn't out partying or hooking up every night and really didn't need a job to make her appreciate her situation.

But then she didn't get a 'fee ride' She obviously worked and worked hard at earning scholarships.

Harry K

 

[Tractors4u]

.... I'm a firm believer in a liberal arts education. And what we are generating is very highly trained technicians that make great producers of services and goods, and even better consumers, but who can't think! ...The only think that will prepare you for that sort of thinking are the liberal arts such as language, art, music, history and most important, philosophy and literature.

And my reason for this response is just to say that if all you want for your kids is technical training or high incomes, then the technical training is fine. But if you want your kids to be truly educated, let them get a liberal arts education and then go 'technical' in post grad which they will have to do anyway.

Most people ask "why?", the Engineer asks "why not?", the person with the liberal arts degree asks "Do you want fries with that?"

I am just kidding of course, well kidding some. Today an education costs too much to squander it on letting the kid find themselves or to let a professor tell them how to think. If you have the money, let the kid go to rodeo clown college if they want to and then go get a degree that will put money in their pocket to feed their family and put a roof over their head. I hope I am teaching my children how to think for themselves without having to send them to college and let some stranger tell them how to do it. Yes I do want them to be well rounded. I talk history with my 9 and 6 year old. They come home from elementary school telling what is being taught, teacher's opinion sometimes, and I have to correct that.

My parent's paid for one quarter of community college. I paid the remainder of the first year. I done well and got accepted for a co-op job. The employer footed the rest of my books and tuition. I also joined the National Guard and at the time did not plan on pursuing a 4 year degree. I got a wild hair to go to Officer Candidate School and made it through that. There was a prerequisite of hold a degree to make the rank of Captain so I went back to school. To finish up my degree, the GI Bill took care of it. 4 years of college for the price of one. Not too bad.

And don't believe what John Kerry says, I have a degree and I still got sent to Iraq. : )