teachercd Posted April 1, 2020 Share Posted April 1, 2020 2 minutes ago, RedDenver said: It is when you're saying that you shouldn't spend it "just in case". And most people don't have enough money to both save and help their family. You are happy she spent all her money to help her kid, right? So am I You don't think there could have been a better way for her to help? I do Is that where there is a disconnect? Link to comment
funhusker Posted April 1, 2020 Share Posted April 1, 2020 40 minutes ago, RedDenver said: These responses show me just how broken our system is. A single parent of two children who managed to save her money should just sit on it instead of helping her kids because there's this chance that something terrible could happen. This is why we need a social safety net. I'm guessing none of you are parents. I'd blow my life savings to help my kid get through college without debt. Guaranteed helping my kid versus possible bad things happening to me isn't even a difficult choice. I’m a father of three. My kids are well aware that they are going to college if they know what they want to do. They already plan on doing gen Ed courses at Metro. i would use every last penny I had if it was the only option. But in this case it wasn’t. She made a bad financial decision based on our current system. I agree the system has huge flaws, but that doesn’t give us the right to neglect responsibility. 2 1 Link to comment
teachercd Posted April 1, 2020 Share Posted April 1, 2020 Just now, funhusker said: I’m a father of three. My kids are well aware that they are going to college if they know what they want to do. They already plan on doing gen Ed courses at Metro. Red Denver thinks you hate your kids Haha 1 Link to comment
Moiraine Posted April 1, 2020 Share Posted April 1, 2020 2 minutes ago, funhusker said: I’m a father of three. My kids are well aware that they are going to college if they know what they want to do. They already plan on doing gen Ed courses at Metro. Great idea. That's what I did. They could even start when they're in high school. I took sign language and flower shop operations so I could graduate a semester early . I would probably take something more useful if I had to do it again... Link to comment
RedDenver Posted April 1, 2020 Share Posted April 1, 2020 1 minute ago, Moiraine said: People should have a goal of an emergency fund worth half of their annual salary. Many people aren't able to save up even a week of their annual salary so there's no need to get into that - and if you've paid attention to my posts I don't think it's most people's fault that this is the case. But if you are able to do it, you should only use it for emergencies. People can define emergencies however they choose, but I'm never going to consider college tuition to be an emergency and in my opinion this was very stupid of her. This was likely also her retirement fund which makes it even worse. Actually, I'm guessing this was 2 year's salary that she just blew on something that's not a real emergency. Things I consider emergencies: losing your job, getting into a horrible accident, getting a horrible illness, etc. What if that was the only way for her kid to go to college? Just because you were able to pay for college AND save half your salary doesn't mean its true for everyone. But all of that is still besides the point: people with only $1100 to their name are losing their jobs and there's little to no safety net for them. Link to comment
teachercd Posted April 1, 2020 Share Posted April 1, 2020 2 minutes ago, RedDenver said: What if that was the only way for her kid to go to college? Just because you were able to pay for college AND save half your salary doesn't mean its true for everyone. But all of that is still besides the point: people with only $1100 to their name are losing their jobs and there's little to no safety net for them. She had a 45,000 dollar safety net. She did the right thing...just not in a smart way. Link to comment
BigRedBuster Posted April 1, 2020 Share Posted April 1, 2020 40 minutes ago, RedDenver said: These responses show me just how broken our system is. A single parent of two children who managed to save her money should just sit on it instead of helping her kids because there's this chance that something terrible could happen. This is why we need a social safety net. I'm guessing none of you are parents. I'd blow my life savings to help my kid get through college without debt. Guaranteed helping my kid versus possible bad things happening to me isn't even a difficult choice. No, just about every financial expert I have seen on the subject will tell you DO NOT spend your retirement money or entire savings on your child's education. Help them if you can but don't put yourself in financial troubles doing it. What this parent should have done is help the child go through the appropriate channels to get financial aide that is already set up. If she is a single parent and her entire life savings was $40,000, I'm assuming her income is not very much. Her child would have qualified for some pretty major financial aide and she wouldn't have put herself in this position. 4 1 Link to comment
Moiraine Posted April 1, 2020 Share Posted April 1, 2020 5 minutes ago, RedDenver said: What if that was the only way for her kid to go to college? Just because you were able to pay for college AND save half your salary doesn't mean its true for everyone. But all of that is still besides the point: people with only $1100 to their name are losing their jobs and there's little to no safety net for them. I had $0 to my name when I went to college and no job. And I still didn't have to work at all the first year because the loans and pell grants paid for room and board in addition to tuition. I probably didn't need to work the 2nd and 3rd years either, I just chose to. But it was only part time. And this isn't in the 90's when things were a lot cheaper, my first year was 2011. I think a lot of people are really ignorant about this stuff and that's why so many parents think they have to pay for college for their kids, and why so many kids think they can't afford college. From what I've seen almost anyone can get student loans unless their parents are rich and they're considered dependent students. The people who really can't afford college are the ones that get degrees for jobs that don't pay well or for jobs that are hard to get. And yes I agree... I tried to make that clear when I made the first reply. There are loads of people that don't make enough $ to save, and we have to figure out a way to feed them, halt rent/utility payments/etc. Link to comment
BigRedBuster Posted April 1, 2020 Share Posted April 1, 2020 4 minutes ago, RedDenver said: What if that was the only way for her kid to go to college? No way was this the only way her child could go to college. See my last post. On top of that, the child could have gotten a job and worked their way through college. 2 Link to comment
Moiraine Posted April 1, 2020 Share Posted April 1, 2020 2 minutes ago, BigRedBuster said: Her child would have qualified for some pretty major financial aide and she wouldn't have put herself in this position. I was an adult when I went so I was independent, but this is how it worked for my brothers. They got a lot of scholarships but they also qualified for all the need-based s#!t. And my mom had a better job than this woman. Link to comment
RedDenver Posted April 1, 2020 Share Posted April 1, 2020 3 minutes ago, BigRedBuster said: No way was this the only way her child could go to college. See my last post. On top of that, the child could have gotten a job and worked their way through college. OK Boomers, About That Working-Through-College Thing The Myth of Working Your Way Through College Link to comment
teachercd Posted April 1, 2020 Share Posted April 1, 2020 6 minutes ago, RedDenver said: OK Boomers, About That Working-Through-College Thing The Myth of Working Your Way Through College It is not a myth...I did it. Twice The second time, when I did my Masters, I got a Discover card, with no interest for a year. I piled on as many classes as I could on that thing for the first year and paid it off as I went. It was like a free loan. 1 Link to comment
BigRedBuster Posted April 1, 2020 Share Posted April 1, 2020 10 minutes ago, RedDenver said: OK Boomers, About That Working-Through-College Thing The Myth of Working Your Way Through College What a load of BS. Nobody says they need to go to school full time. Work full time and go to college part time. Live off campus in a cheep apartment with room mates. Get grants and loans and work part time to pay for additional expenses. Again, my other post discusses how this person's child would have received a lot of financial aide. I know. I have three kids in college and I know some of their friends who come from similar families to this child and they are getting through college without draining their parents meager savings. Read Moiraine's post above. I know a guy who comes from a very similar situation as the child above. He joined the military and he's getting through med school without any loans. There are ways to do it, use the resources available and be creative. College needs to be cheeper and I would agree that financial aide can be improved. But, the myth that is promoted by the links you posted is just not true. 1 Link to comment
RedDenver Posted April 1, 2020 Share Posted April 1, 2020 1 minute ago, teachercd said: It is not a myth...I did it. Twice The second time, when I did my Masters, I got a Discover card, with no interest for a year. I piled on as many classes as I could on that thing for the first year and paid it off as I went. It was like a free loan. How much to people think even a cheap college like UNL costs? Spoiler Resident: $21,286 per year Non-resident: $37,726 link Link to comment
teachercd Posted April 1, 2020 Share Posted April 1, 2020 1 minute ago, RedDenver said: How much to people think even a cheap college like UNL costs? Hide contents Resident: $21,286 per year Non-resident: $37,726 link I mean, I am in education so I am familiar with the costs. I am on your side. What she did was amazing and wonderful and it is what all parents want to do for their kids. Everyone is just saying that there are other ways that she could have helped and not spent all her money right away. Link to comment
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