How much skin should your kid have in the game?
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wrote on 16 Jan 2021, 05:09 last edited by
We said we'd pay off the interest but he had to pay off the principal
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wrote on 16 Jan 2021, 09:07 last edited by
We limited student loans to $7,500 per year. Graduated with < $30k in student loans.
About the price of a car.
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wrote on 16 Jan 2021, 09:10 last edited by
Student loan? What is a student loan?
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wrote on 16 Jan 2021, 09:25 last edited by
@klaus said in How much skin should your kid have in the game?:
Student loan? What is a student loan?
Lower than market interest rate loans for students.
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Not commenting on "affordability" and simply assuming that "affordability" is not an issue for you, then I'd say you just go ahead and pay for everything higher-ed. Reasons are two:
- You have had 16 or 17 years to teach your kid responsibility; maybe have a little faith in both of you in believing that you have taught it well and he has learnt it well.
- Most bachelor's degrees these days as a competitive currency is about the same as a high school diploma from one or two generations ago; so you're really paying for it like someone else paid for high school one or two generations ago. Maybe let him pay for it himself when he goes for a Master's or Doctorate degree.
In any case, congratulations on him getting accepted into one of his preferred schools, and good luck to you both.
wrote on 16 Jan 2021, 10:41 last edited by@axtremus said in How much skin should your kid have in the game?:
Not commenting on "affordability" and simply assuming that "affordability" is not an issue for you, then I'd say you just go ahead and pay for everything higher-ed. Reasons are two:
- You have had 16 or 17 years to teach your kid responsibility; maybe have a little faith in both of you in believing that you have taught it well and he has learnt it well.
- Most bachelor's degrees these days as a competitive currency is about the same as a high school diploma from one or two generations ago; so you're really paying for it like someone else paid for high school one or two generations ago. Maybe let him pay for it himself when he goes for a Master's or Doctorate degree.
This is my thinking as well. Daughter #2 is currently a sophomore.
We cover all the necessities; anything "extra" she has to pay for. We knew before we had children that we would do it this way, so we sort of prepared for it. -
wrote on 16 Jan 2021, 11:14 last edited by
@klaus generally the countries which make you pay for ambulance service also charge a tuition for education that requires you go deeply into debt.
There must be some correlation there though I’m not sure it’s obvious.
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@klaus generally the countries which make you pay for ambulance service also charge a tuition for education that requires you go deeply into debt.
There must be some correlation there though I’m not sure it’s obvious.
wrote on 16 Jan 2021, 11:31 last edited by@bachophile said in How much skin should your kid have in the game?:
@klaus generally the countries which make you pay for ambulance service also charge a tuition for education that requires you go deeply into debt.
There must be some correlation there though I’m not sure it’s obvious.
Actually, I'm even in favor of letting students pay some tuition. The "completely free" model we have over here is not optimal for creating the right incentives. My feeling is that something like $3000 or $5000 per year would be optimal. But those $60K/year things in the US is just insane.
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wrote on 16 Jan 2021, 19:14 last edited by
I told my daughter that it is coming out of her inheritance.
That's what I tell her whenever we pick up a tab.
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I told my daughter that it is coming out of her inheritance.
That's what I tell her whenever we pick up a tab.
wrote on 16 Jan 2021, 19:25 last edited by@copper said in How much skin should your kid have in the game?:
I told my daughter that it is coming out of her inheritance.
That's what I tell her whenever we pick up a tab.
Our approach has been that education is the core of the inheritance, that’s a great foundation for for what constitutes a family “brand” or value system.
Personally I think if you think your legacy is to be remembered by giving after you die, it’s very risky. Your legacy is what you do when you are alive. Of course the balance for me at least is to try to have your children be self sustaining individuals.
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@klaus generally the countries which make you pay for ambulance service also charge a tuition for education that requires you go deeply into debt.
There must be some correlation there though I’m not sure it’s obvious.
wrote on 16 Jan 2021, 21:02 last edited by Renauda@bachophile said in How much skin should your kid have in the game?:
@klaus generally the countries which make you pay for ambulance service also charge a tuition for education that requires you go deeply into debt.
There must be some correlation there though I’m not sure it’s obvious.
You maybe on to something there. Even here ambulance transport is not covered by the provincial health insurance for anyone under 65 years of age. You either have private supplemental health insurance to cover ambulance or pay out of pocket. Once you are 65 the ambulance is covered by an old age provincial supplemental health insurance entitlement through Blue Cross.
We also charge tuition for all post secondary education.
Hmmmmm