With a daughter going to college, and 3 more children right behind her, this video is very relevant. So far, our approach has been to (1) Save, save, save. (2) Take AP classes. (3) Take community college classes in the summer. (4) Work hard for scholarships.
Whether or not you have decisions to make about college debt, you can glean wisdom from this video.
HT: Denny Burk
Well that’s encouraging:-( It is hard to know how to prepare your children for the future at times.
I know Heidi! We’re thinking about it at our place all the time. I’m thankful our two oldest are working so hard this summer. Hard work on the part of young people has to at least be part of the solution.
Chris, this is RIGHT ON. We’ve spent the last decade trying to pay for college for 2 of our 3 children in cash to avoid student loans, since we’d long cautioned them about the terrible burden of big debts. We’ve watched the costs rise and rise and rise. Our son didn’t make the grades at one point and lost his state and college assistance, making the next semester – in cash – cost nearly $15,000. (We simply said we would not pay or charge that amount of money.) He took a semester off, and when he returned, he had no option but to take out student loans (he was so frustrated when the “financial aid” office blithely said, “Just get a loan!” – the answer to all his inquiries for help!). Although his loan amounts are not nearly what many have, he is heavily burdened. His wife swallowed the whole package – loans all the way – for a degree in Philosophy. She is not employed and now saddled with a crushing debt load. We really need to support each other in finding a way to provide earning potential (which isn’t always just a college degree) for our children without this legacy of debt.
Liz — I am really going to encourage my children to read your comment. Thanks for sharing.