Biden's America

[Archy1221]

49 minutes ago, Born N Bled Red said:

 

 

1). We don’t have bootstraps - Damn, did you pull yourself up by your sock strings then? 

2). They paid half car payment and all gas while in HS and daughter paid all car payment and all gas in college.  Son bought a 2021 Challenger himself in college (as a freshman? What did he drive until then)  with own money he earned and pays all the gas and insurance.  - Your son didn't by a challenger himself without a minimum of you co-signing the loan/ lease. - You did provide car insurance apparently to your daughter and son until he bought his car?  
3) they are on the phone plan till out of college.  Why that matters I’m not sure.  (Because there are tons of families that can't/ don't provide this for their college age kids.) 
4). Paid my mortgage and grocery bills yes.   Is that really different than other parents with kids under 18?  (Speaking of while in college. Considering this whole post is about college costs, I'm not sure why you mention kids under 18?)
5).  No I never used connections for them to get any job they have had. (Cool, other kids/ families do.)
6). Daughter just moved to NYC and no she didn’t get help with first months rent or the deposit.   it’s amazing how that works.  (Awesome. I never had help either.)
7). If she needed help with medical bills of course I would help.  What parent wouldn’t if they had the means.   Silly question.  - (Not everyone has the means THATS THE POINT!)
 

So car insurance - I'm betting you didn't just have liability on the vehicles. So, that's what $120/ month for a college age kid. Cell phone- that's a cool $75 per month benefit minimum, if you get the s#!tty free phone. - Thanks to Obamacare, your kids were on your health insurance plan so that's another $500/ month benefit. Right there, you saved your kids, assuming they attended school for 4 years $695 per month. Which, over 4 years comes out to $33,360. Boy, if you 'DIDNT HAVE THE MEANS,"  your kids would be sitting with about the same amount of debt as the national average plus whatever you say the currently owe. And that's if you're being honest about the aid you provided and not uhm, "stretching the truth" in order to make a point in a political discussion. - You're kids are lucky to have you. Not every kid is that lucky. 

They would be on my health insurance plan regardless of Obamacare.   They were dependents on my tax return still.   Obamacare didn’t change that.

 

 

[Archy1221]

25 minutes ago, Born N Bled Red said:

 

Oh now you're going to pretend that an 18 year old had established strong enough credit to buy a 2021 Charger ($30,000 purchase still today) all by himself with no co-signer. Either you co-signed or he bought it with cash, cash he got from where? You didn't help him, he bought it himself. 

 

He paid in full at time of purchase and it wasn’t $30,000 it was actually $44,000 and change.   So again, why would I need to co-sign for a loan that didn’t exist.   
 

Cash he got from his options investing account which does very very well.   

[RedDenver]

Just now, Archy1221 said:

He paid in full at time of purchase and it wasn’t $30,000 it was actually $44,000 and change.   So again, why would I need to co-sign for a loan that didn’t exist.   
 

Cash he got from his options investing account which does very very well.   

How to undercut your argument in one sentence.

[Archy1221]

1 minute ago, RedDenver said:

How to undercut your argument in one sentence.

How so? 

[Born N Bled Red]

1 minute ago, Archy1221 said:

He paid in full at time of purchase and it wasn’t $30,000 it was actually $44,000 and change.   So again, why would I need to co-sign for a loan that didn’t exist.   
 

Cash he got from his options investing account which does very very well.   

 

Nice- So to cash out $44k at 18? I don't think you can even open an account at before 18, so you must have started an investment account for him? 

[BigRedBuster]

11 minutes ago, Born N Bled Red said:

 

From the Chadron State College website. 

 

"During the 2019-20 academic year, 264 CSC graduates averaged $20,137 in debt. Thanks to affordable tuition and generous financial aid opportunities, CSC graduates can leave campus with much less debt than the Nebraska and national averages."

 

 

 

Compared to Nebraska Schools, 2021-22 Academic Year

Undergraduate Cost of Attendance	Resident	Non-Resident
Chadron State College	$15,568.80	$15,598.80
College of St. Mary (meals not included)	$29,800.00	$29,800.00
Concordia University	$45,800.00	$45,800.00
Creighton University	$56,224.00	$56,224.00
Doane University	$48,380.00	$48,380.00
Hastings College	$44,400.00	$44,400.00
Midland University	$46,320.00	$46,320.00
Nebraska Wesleyan	$49,404.00	$49,404.00
Peru State College	$16,075.50	$16,075.50
University of Nebraska-Kearney	$18,567.50	$18,567.50
University of Nebraska-Omaha	$29,711.24	$44,801.24
University of Nebraska-Lincoln	$22,012.00	$39,142.00
Wayne State College	$16,258.00	$16,288.00
York College	$28,500.00	$28,500.00

_{Costs based on tuition, fees, housing, and meal plan information from school websites. Exact costs may vary and are subject to change.}

 

And, there are lots of ways a student can go to college and not spend that much per year.  There is no way my kids spent 22,012 per year going to UNL.  I had one graduate from Wayne State and again, no way she spent 16,258 per year.  

[teachercd]

Man, I thought I liked free stuff...

[Archy1221]

1 minute ago, Born N Bled Red said:

 

Nice- So to cash out $44k at 18? I don't think you can even open an account at before 18, so you must have started an investment account for him? 

You are correct that under 18 would be a custodial account.  And no I didn’t.  He’s 20 btw and 19 at the time of purchase.  

[teachercd]

1 minute ago, BigRedBuster said:

 

And, there are lots of ways a student can go to college and not spend that much per year.  There is no way my kids spent 22,012 per year going to UNL.  I had one graduate from Wayne State and again, no way she spent 16,258 per year.  

Get ready for the old "anecdotal" reply

[Born N Bled Red]

1 minute ago, teachercd said:

Man, I thought I liked free stuff...

 

All millionaires do Teach- that's why you have all the tax loopholes us normal schmucks can only dream of

[Born N Bled Red]

1 minute ago, Archy1221 said:

You are correct that under 18 would be a custodial account.  And no I didn’t.  He’s 20 btw and 19 at the time of purchase.  

 

Awesome, he cashed out $44k at 19. Let's say he's an investment savant and doubled his money during high school. I'm betting if he's doing that well he didn't liquidate his entire account, so lets say he pulled half, which would mean he had $88k in the account at the time of purchase, and started in 2017 at the age of 15 with $44k. Just guessing. You don't have to explain how he got the seed money to start his phenomenal investment account that you didn't start for him, but do you think that is the norm for college kids? 

 

I mean if any part of this story is true (guessing he got into gamestop maybe and cashed out) your anecdotal stories about how successful your kids were without any help are not grounded in the reality of what most Americans face when dealing with higher education. Surely you can see that.

 

I mean- due to my profession, I have the opportunity to ensure my 3 boys can go to college at a private university for free. And "get out of undergrad with no debt." I'm not going to sit here an pretend that every kid who doesn't have the same benefit is, lazy, entitled, or financially stupid for not having the same benefit. I recognize that my own hard work and sacrifice made their college experience possible and that they are fortunate where others are not. - 

[Archy1221]

4 minutes ago, Born N Bled Red said:

 

Awesome, he cashed out $44k at 19. Let's say he's an investment savant and doubled his money during high school. I'm betting if he's doing that well he didn't liquidate his entire account, so lets say he pulled half, which would mean he had $88k in the account at the time of purchase, and started in 2017 at the age of 15 with $44k. Just guessing. You don't have to explain how he got the seed money to start his phenomenal investment account that you didn't start for him, but do you think that is the norm for college kids? 

 

I mean if any part of this story is true (guessing he got into gamestop maybe and cashed out) your anecdotal stories about how successful your kids were without any help are not grounded in the reality of what most Americans face when dealing with higher education. Surely you can see that.

Withdrew more because as you know, there are short term capital gain taxes that need to eventually be paid.  And your other assumptions are quite wrong as it sounds like you don’t understand how options work. 

 

He worked part time jobs since age of 15 like most kids do/did.  Saved up about $15k by age 18.  TQQQ and USO did quite well for him in 2020/2021.  So his “seed money” was his own hard work.   And it’s quite the opposite of the norm.   Though two other kids in the pledge class above each made low six figures in the NFT craze.   
 

Daughter is the opposite end, she didn’t work as much, didn’t save as much and had to work though college.  Drove the same car in HS and college.  Wife and I have a certain dollar amount we tell each kid they have to help towards school and the rest is up to them.   Doesn’t matter what school they choose, we aren’t paying any more.   We also get to approve of the major that they choose.   If we deem it to be a BS major, then they can pay for it themselves. 

[Guy Chamberlin]

42 minutes ago, GSG said:

 

Just for s#!ts and giggles, I looked up the current cost of the college I went to. It's now 60k for one year (sticker price). This website https://www.tuitiontracker.org/ doesn't go back far enough, but 3 years after I graduated it was only 42k. 

 

Wow. I am stunned by the price of Concordia, Doane, and Hastings. 

 

That's the same cost as much more prestigious universities. 

[BigRedBuster]

1 minute ago, Guy Chamberlin said:

 

Wow. I am stunned by the price of Concordia, Doane, and Hastings. 

 

That's the same cost as much more prestigious universities. 

Yeah...my daughter originally wanted to go to Hastings.  But, then saw the cost.  When you go, they sell you on the idea that they give enough assistance that it brings it in line with other schools.  But, when we saw the net numbers.....still no.  My son in law went to hastings, but he was on athletic scholarships that paid for everything.

[BigRedBuster]

Want to know a way my son saved a TON of money in college?  He never bought the books.  They are absolutely stupid expensive.  His freshman year, he bought the books his first semester because he was told he needed to.  Second semester, he just never did it.  Everything was on line.  He went to class and listened to lectures.  Got along just fine.  So, he went the rest of the way without buying books.  He ended with around a 3.7 GPA.  So, I think it worked out for him.  

 

Let's say you're taking 4 classes per semester.  $250 per class for books (guessing)  That,s $1,000 per semester ($2,000) per year.  I probably saved around $7,000 just doing that.