Student loans

[pinion]

Those high intrest rates could have been saved with 18 years of saving imho. Hindsight is 20/20 though right? Although 20/20 isn't the best is it? So that makes no sense.

[JoeH]

pinion wrote:
Those high intrest rates could have been saved with 18 years of saving imho. Hindsight is 20/20 though right? Although 20/20 isn't the best is it? So that makes no sense.

Well 20/20 is considered "normal", between being nearsighted and farsighted.

Sure, I could have saved at least $50-100K per child if I started 18 years ago. And in the meantime had not had a period of time where my wife went back to school to get a RN license. Then later was separated and divorced, paid off over $30k in debt she ran up, ended up in a job that paid $8K a year less, and so on. I can assume similar circumstances can have existed for others as well.

As it was, I did manage to save enough so each child has had several thousands of support each semester from me. They also get some support from their mother. But under the divorce decree the bulk comes from me. But in this day of over $20K a year public university costs, and over $40K for private schools, that money just does not go as far as it once did.

P.S. Yes, both are getting some financial grant aid, but that has also not increased along with inflation.

[AAA]

That is really envious revenue stream if you could save 100k per child.
I expect to be able to pay for one semester of books.

[sunfalcon]

You shouldn't have to co-sign for a Guaranteed Federal Student Loan - i.e. Stafford or Perkins loans. Now, the private unsecured ones are a different story.

[JoeH]

AAA wrote:
That is really envious revenue stream if you could save 100k per child.
I expect to be able to pay for one semester of books.

I grew up with many brothers and sisters, and my father had to hire a person to take care of us during the day since my mother was away. Learned to get by on what I really needed as opposed to merely wanted. Those "wanted" items become the little luxuries I can indulge in every now and then. :devil: