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Government underwritten student loans and grants have driven the incredible inflation of educational costs and devaluation of the product.

Very similar to healthcare.
Very true.

Gov't influenced by the educational industry provided programs and loans. Real Estate had HUD, Freddie & Fanny Mae, Education has US Dept of Education.

Unlike real estate, some student loans are not eliminated through bankruptcy.
 

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Very true.

Gov't influenced by the educational industry provided programs and loans. Real Estate had HUD, Freddie & Fanny Mae, Education has US Dept of Education.

Unlike real estate, some student loans are not eliminated through bankruptcy.
Anytime the government gets involved it corrupts the market. Great examples, all.
 

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I did pay for my daughter's first year at a Community College that later became a State College- She got her job as a Medical Assistant and she has been taking two (2) classes per semester that her job pays totally for if she gets all A's.

She's doing quite well. She wants to be an RN, so eventually when she gets these certain classes out of the way I will have to pay for her because she'll have to take time off of work (over a year) in order to go full time.

She's doing so well in college that I won't mind paying again.
 

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At this point, I am done shoveling money at colleges ....:shakehead:
I agree. I am fed up with the cost and the product of colleges nowdays. But I also feel an obligation to give my kids the same chance my parents, and uncle, gave me. So I'll pay it and complain.
 

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When my daughters were small I made them a promise. I would pay for whatever the scholarships, etc. did not cover if they would go to college. I figured let someone else's children waste their lives without an education. They went. They graduated. They then proceeded to find jobs, etc. Cool. The money was well spent. In every way they lived up to their part of the bargain. I did my part. That is how families are supposed to work. That's the responsibility of parents. As the Apostle Paul wrote, "A man who doesn't provide for his family is worse than a infidel."
 

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And no, you don't need a college education to be successful and I still think in today's economic climate the average guy might be better off developing a skill and being damn good at it.
This is something a lot of folks glossed over and I think it bears repeating. I know a lot of men who have no college, or 2 years of tech school, that make 6 figures or close to it. Welders, luxury auto technicians, shop foremen, general contractors, horse shoers, electricians, etc. All men who make darn good livings working hard with their hands, and don't have college debt. You do seem to see more men in these types of fields than women, due to the physical labor involved. Most of the women I know who make a very good living, have advanced education. Many of the men I know who make a very good living have only high school, or high school plus 2 years of tech school.
 

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This is something a lot of folks glossed over and I think it bears repeating. I know a lot of men who have no college, or 2 years of tech school, that make 6 figures or close to it. Welders, luxury auto technicians, shop foremen, general contractors, horse shoers, electricians, etc. All men who make darn good livings working hard with their hands, and don't have college debt. You do seem to see more men in these types of fields than women, due to the physical labor involved. Most of the women I know who make a very good living, have advanced education. Many of the men I know who make a very good living have only high school, or high school plus 2 years of tech school.
I agree with this.
 

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According to my cpa, case law supports even using 529 distributions to buy a condo for them to live in during college.
So he could buy a house with the money and rent out two rooms? Ha ha!
His 529's performance isnt the best, but it's the best I can do for him right now.
Luckily he's a good kid and works hard at school, all AP and Pre Ap classes. I want him to work for it, just not as hard as I did.
Yes. Precisely.
 

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Yes I will pay for my Daughter's college education.
 

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My boy is 27 and yes ,I paid for his education.I did have some help though , he'd won a partial scholarship for his outstanding art and it did help.
 

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My oldest son got a scholarship that paid for his first two years, and then got a sweet internship (Electrical Engineering). They paid his tuition and books, and he worked half-time in the school year, full time in the summer. They paid him $17.50 his first year (full medical and dental benefits) and then gave him a 25% raise when he became a senior. And a guaranteed job when he got out. He graduated about a year ago and is full-time. Started at about $58-$60K, I think.

My next son went Army, he'll be out soon and plans to start at Portland State, maybe in the fall.

My third son decided not to go straight to college. Worked the oil rigs in ND until the wisdom of a college education got through his thick skull. He started college last week. Has enough money set aside for the first couple of years at least, but plans to do an apprenticeship.

My oldest daughter got a four-year scholarship, with stipend. Works at a pizza place to make ends meet.

My daughter who is a senior in high school has a four-year scholarship lined up, with enough stipend to make ends meet. She already has a small piano-teaching studio, and makes pretty good money at it.

So far - my total college costs for my kids have been minimal. I'm more than willing to kick in a bit to help them through the hard times (rent money before the first summer paycheck comes in, etc.), and I keep an extra car that they can borrow anytime they need it, but cash-wise I'm probably not out more than $1200 total!
 

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Discussion Starter #52
I wouldn't consider an 80-hour work week to be successful! It's nice to have time to actually do something other than work and sleep.
Yes and no.

IMO, You work hard or you work smart to be financially successful

He could work less...he could turn down jobs...and this work schedule is of his choosing which is why I define it as success. He could take a six month vacation tomorrow and realistically not hurt his business.

He could turn down jobs and get as many offers six months from now as he does today. One of his former clients, who has a big job, offered him a two year employment contract where he told him name your price within reason. The only reason he didn't take it is he worked for him 20+ years ago and still thinks the guy is an a**. BTW, he is.

He is a Master Welder and his skill set can never be exported. I am not a welder and am sure there is a difference between a good and crappy weld job.

At 50 he could retire comfortably for the rest of his life with his 7 Harleys. The other reason IMO he is a success - he is a non-union craftsman. No golden parachute pensions...no rock star insurance post retirement....he built his business on his own.

This schedule isn't always like this either. He had several very profitable jobs thrown his way over the last year at the same time in which the money was right - I don't know the numbers but given the same opportunity I would probably do the same thing.
 

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This is something a lot of folks glossed over and I think it bears repeating. I know a lot of men who have no college, or 2 years of tech school, that make 6 figures or close to it. Welders, luxury auto technicians, shop foremen, general contractors, horse shoers, electricians, etc. All men who make darn good livings working hard with their hands, and don't have college debt. You do seem to see more men in these types of fields than women, due to the physical labor involved. Most of the women I know who make a very good living, have advanced education. Many of the men I know who make a very good living have only high school, or high school plus 2 years of tech school.
Certainly one can carve out a nice living without a degree. And further many kids simply are not college material. That said the income discrepancy between degree holders and everyone else is VERY significant.


ETA - so are unemployment numbers. Last time I checked UE in DFW for those with degrees was less than 4%.
 

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This is something a lot of folks glossed over and I think it bears repeating. I know a lot of men who have no college, or 2 years of tech school, that make 6 figures or close to it. Welders, luxury auto technicians, shop foremen, general contractors, horse shoers, electricians, etc. All men who make darn good livings working hard with their hands, and don't have college debt. You do seem to see more men in these types of fields than women, due to the physical labor involved. Most of the women I know who make a very good living, have advanced education. Many of the men I know who make a very good living have only high school, or high school plus 2 years of tech school.
I know these two guys who both have college degrees. One is a plumber, the other is a fishing guide. The plumber does very well. The fishing guide doesn't have to but he sure enjoys himself.
 

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Yup.

In-state tuition. I am treating it like an employee tuition reimbursement program. I will pay for every class they get a B or better in. Get a C or below and they don't get the money for that class worth of hours next semester. Gives them an immediate incentive to not blow off class.

Only difference between what I am doing and what my work did is I am fronting them the first semester's tuition gratis. A mistake or two they can pay off working during the summer. Any major melt down and the money train ends immediately. It worked for me and I think it will work for them.

P.S. Under this scheme I graduated with a 4.0 GPA, at night school while working full time. There was no way was I risking not getting my tuition reimbursement.
 

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No kids, but my dad is helping me with medic school, and I'm damn grateful for it!
 

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My parents paid for my bachelor's degree, but grad school was up to me. I did the same for my two kids. Between them, their undergrad degrees cost $275,000.:crying: No financial aid. Took me 10 years to pay back the loans I took out. All done now. :cool:
Holy crap! Tell me they are high income earners now. $275K for two Humanities degrees would be beyond my ability to stand (my son is 18 and starting college next year).
 

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Discussion Starter #58
Certainly one can carve out a nice living without a degree. And further many kids simply are not college material. That said the income discrepancy between degree holders and everyone else is VERY significant.


ETA - so are unemployment numbers. Last time I checked UE in DFW for those with degrees was less than 4%.
This all depends on the degree.

The problem with kids now a days (I'm over 40 so I can officially refer to 18-20 year olds as kids :supergrin:) is they pick a degree before they decide on a career.

I know English Majors working $14/hour jobs.

I have several friends who have psych degrees - without a Ph.D in this field those people might as well be working as social workers (one does).
 

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This all depends on the degree.

The problem with kids now a days (I'm over 40 so I can officially refer to 18-20 year olds as kids :supergrin:) is they pick a degree before they decide on a career.

I know English Majors working $14/hour jobs.

I have several friends who have psych degrees - without a Ph.D in this field those people might as well be working as social workers (one does).
Foolishness like that wouldn't happen if the fedgov wasn't subsidizing it.
 
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