View Poll Results: How much college debt do you or your kids have?

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  • <$10,000

    5 9.09%
  • <$25,000

    5 9.09%
  • <50,000

    7 12.73%
  • <100,000

    2 3.64%
  • >100,000

    5 9.09%
  • no college debt

    31 56.36%
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Thread: How much college debt do you or your kids have?

  1. #51
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    Re: How much college debt do you or your kids have?

    I voted no college debt.
    Our oldest son did get some student loans since we had two in college at the time and two in elementary school.
    We paid of his loans within 5 years.

    We paid tuition , room and book and books.

    All of children did have summer jobs and paid for some of their living expenses.

    All 4 of children have college degrees and our youngest is finishing up her masters and will graduate this December.
    Last edited by minnie616; 11-06-13 at 09:17 AM.
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Rocketman View Post
    After reading the balance of college debt nationally I just wonder how many here have it and why you have it? Did you not save for college? plan for college? Go to an expensive school just for the experience? why? why? why?
    The Montgomery GI Bill paid me to go to college. I was fortunate. I didn't have to borrow any money to attend college. It's a good thing too. My income has dropped $10,000 per year since graduating.

    Were you supposed to earn $1,000,000 more over your lifetime or $1,000,000 less over your lifetime? Perhaps I read the pamphlet wrong.

  3. #53
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Rocketman View Post
    After reading the balance of college debt nationally I just wonder how many here have it and why you have it? Did you not save for college? plan for college? Go to an expensive school just for the experience? why? why? why?
    My mother had 50k for college for me. But the conditions were that I start when she told me to start, go where she told me to go, and study what she wanted me to study. I told her to stuff it and left the country to travel, and consequently, I lost the college fund. It was the right call, and I still think so.

    I went back to school when I was ready to go back. It's as simple as that. I'm in about 5k of debt from the college I've done so far. Mostly at a 2-year, in order to save on my generals. I don't care about "prestige." Anyway, the debt I have is just now coming into repayment, and it's going to get dump-paid within the month, so that's no problem.

    I'm taking a break from school now to do some resume-building work and consider where I want to go to 4-year to finish out my BA. I will go some place with a good program for what I want, in a city that will be advantageous to me when I get out. Still mulling over my options.

    I currently have enough money from saving and investments to pay my entire tuition outright at most public universities. I'm going to wait a bit longer. I reckon within a year I'll have enough to also cover a lot of living expenses. If I get lucky, maybe even buy an apartment.

    So, all in all, things worked out quite well for me. I did it my way, even though I had to find the resources myself, but that's actually a really good feeling. And as it turns out, my way is going to leave me a lot better off than most of my peers, who are in anywhere from 40k to 100k of debt right now.
    Last edited by SmokeAndMirrors; 11-06-13 at 09:58 AM.

  4. #54
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by kerussll View Post
    This sounds a tad judgmental…. I went to an inexpensive (relative) state school, and even lived at home for the first two years. My parents paid for it, but the bill was well over 30,000 total. How on earth is a teenager supposed to save for that so they don't have any debt when they graduate?
    I did. I worked full time (more than full time for some of it) and carried a full class load and paid for every penny out of my own pocket. My parents never paid a dime. I never had any debt at all. It's not that hard, it just takes commitment.
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Rocketman View Post
    After reading the balance of college debt nationally I just wonder how many here have it and why you have it? Did you not save for college? plan for college? Go to an expensive school just for the experience? why? why? why?
    Quote Originally Posted by kerussll View Post
    This sounds a tad judgmental….
    You think so?

  6. #56
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    Re: How much college debt do you or your kids have?

    I have about $15K in college debts now. That's down from ~ $20K when I graduated last year. The other half of my college was paid for by an investment fund that my grandparents started when I was born. I owe them a lot of gratitude!

    I'm also a strong saver and I have a finance degree. Meaning that I've structured an investment account that is earning a higher return rate (barring any future economic woes) than my loan interest rate to automatically pay the monthly minimum on my loans. Hopefully the only thing I'll have to do is cash out the principle after the loans are paid back.

    Quote Originally Posted by vasuderatorrent View Post
    The Montgomery GI Bill paid me to go to college. I was fortunate. I didn't have to borrow any money to attend college. It's a good thing too. My income has dropped $10,000 per year since graduating.
    Take the Millennial's approach to working? That's a "Screw you, I'm going to move from job to job until I find someone who pays me well" attitude.

  7. #57
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    Re: How much college debt do you or your kids have?

    NONE. My two kids had their college paid for my my wife and I. Our deal with them was we would pay for their college tuition and books, plus they could live at home the entire time and we even provided them with transportation. If they wanted to live away and go to college - that portion would be on them. Having taught high school for a very very long time and mostly senior level classes, I knew firsthand the motivation behind many if not most kids going away to college.

    For my own college education - I worked my way through and paid it myself also living at home to save money.
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  8. #58
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    Re: How much college debt do you or your kids have?

    My wife and I don't have kids yet, and neither of us has any student loan debt at the moment. We had roughly $100,000 between the two of us when we graduated college though.
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Fisher View Post
    I went to a better school with better opportunities with more humpf than I could have afforded by either by working my way through or borrowed my way through.
    not sure I understand, I know engineering majors that went to big schools out east that have the same jobs as guys that to smaller local colleges.

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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by brothern View Post
    Take the Millennial's approach to working? That's a "Screw you, I'm going to move from job to job until I find someone who pays me well" attitude.
    I make $8 an hour. That's fine for now. Nobody is going to pay me much more than that. My area is filled with college graduates just like me. I'm not the only person that went to school for free.

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