One has to have a balanced approach to retirement vs our children's education.
Too many in our communities have lost all or at least some of their
superannuations in resent times (mostly due to greedy dishonest investment
"gurus")? A sound education for our children is a wise investment.
What is wrong with looking after our old? Are we bringing up self centered
children that will abandon their parents in their old age?For centuries young
and old worked together, the idea of retiring to fish and garden and whatever
else, went down with the Tween Towers! The world has change people, you may not
like but it would be far wiser to payoff as much of your home as possible (that
is is you are fortunate enough to have a mortgage) and put aside a little cash,
and whatever else invested in your children education. Plant a garden, storage
some food and water, move to an area where there is more than only one industry
and most important of all, love your children in a way that when you are
"old", they will "want" you to live with them rather than in
a retirement home among strangers.
VOR - think even bigger. My kids are not just competing with Indian students at
their University... they are competing against Indian students at Indian
Universities . I find it ironic that Indian students who can't qualify to get
into their own institutions come here to the US because the standards and
competition are not as rigorous.Especially in engineering, hard
sciences, technology and business professions, our children are competing
against the best the world has to offer. This is not a bad thing... it just
is.Though we complain about the hyper-inflation of higher education
costs, we mock efforts like online-education, or the efforts at BYUI (re: the
comments on the recent seies at DN about BYUI) to reign in those very costs as
somehow creating a lower-class education. (It will be interesting to see how
globally competitive graduates from these "lower-class" schools will
be.) But I don't see anyone else offering up viable solutions.IMHO,
our current model will never change until we quit equating the value of an
education with the size of the tuition bill (public or private, K-12 or
college). Which means none of this will ever change.
At BYU the low tuition goes to members of the LDS church. I went to BYU but my
summer jobs were first rate construction jobs that paid very well. A good
frioend who has manay children got his sons in particular to take heavy
equipement operators courses in the year before their missions (instead of first
year uni). Again good summer jobs with darned hard work and lots of pay.
Int'l Businessman,You provided a point I've not even considered.
Foreign students are a good chunk of the higher ed system. Out-of-state tuition
is much higher and people often feel it is too high. However, I could feasibly
understand an out-of-country expense far more than the out-of-state.Out of state is still coming from largely the same economy, tax dollars, etc.
While foreign students paying an out-of-state tuition are still paying a
tax-based off-set tuition cost. Even out-of-state fees are still greatly reduced
from what they would be.There are absolutely foreign situations
where students should not be charged. I've seen cases at BYU where a student
from a poor and underdeveloped village comes here for school and returns to the
village to help them with what they know. Obviously, charging all foreign
students a blanket high cost would prevent much of this from happening. However,
if either certain degrees, certain students, or certain criteria were met for
such cases... any system could be devised that would allow for helping others in
need, while not giving our taxes to foreign students who aren't in need of help.
First, a quality undergraduate education is exponentially more expensive today
than in past generations (while wages for "unskilled" labor have not
kept pace). Second, today's American youth are not competing with other
American children, but are competing with Chinese, Scandinavian, etc. children,
and an undergraduate degree today is like the high school diploma of yesteryear
when competing for 21st century jobs in the world marketplace. Most
importantly, we must produce highly skilled, competitive children to perpetuate
our American way of life (including Social Security and Medicare) and make our
retirement years worth living. You cannot disconnect investment in our
childrens' educations from investment in a quality retirement. If our country
goes down the tubes because our children cannot compete we all suffer.I financed two kids' undergraduate educations and Im saving for the third.
They must fund their own graduate studies (which are akin to undergraduate
studies in the past). This is the least I can do to help them compete (making
long-term wise education/employment decisions rather than short-term expedient
decisions) with their peers in other countries and contribute to the successful
future of our country. I hope many of you feel and act the same.
The fundamental problem is the high cost of education.When I started at
BYU tuition was $410 a semester. A student could save enough money on a summer
job to pay their tuition. This was true at most colleges and universities.Today with student loans and grants accessible to virtually 100% of
students institutions of higher learning have little if any incentive to control
costs.Third Party Payer:The medical industry and
auto-body industry also have a third party payer: Insurance. These industries
have an inflation rate much higher than other sectors in the economy. Education
is no different. With loans and grants given to virtually everyone few have any
real incentives to use these fund efficiently.If you want to make
college affordable you must end the free money. (Not really free as many
students suffer under crushing debt.)In years gone by many people
were self educated. Reading excellent books and discussing the principles with
others (a working professional would be a good choice) could go a long way to
educating people who want it. We must also move away from a
certificated society to a performance based society.
It is fine for someone to take care of theur children's education ahead of
retirement. It is also good tor the educated adult children to take care of
their parents in old age.What goes around comes around.
Our kids today do not have the same opportunities that we did to finance their
own education. In the 1980's I came home every summer and with very little
effort found construction jobs that paid ten to twelve dollars an hour and often
included overtime. College tuition in the 1980's was a couple of hundred
dollars a quarter. Kids today find it very difficult to get a minimum wage job
for summer work (most don't want to hire temporary workers) and pay over fifteen
hundred dollars a semester for tuition. I pay for much of my children's college
education and I will end up working more years and more overtime than I wanted
to because of that. I am ok with that because I do not want to have my children
start their working lives with debt, my country will be leaving them enough debt
to pay off without me adding to that. The problem with our society today is
that we are unwilling to sacrifice a little for our children let alone anyone
else. That is why our country is the economic disaster that it currently is.
"For some parents looking forward to a retirement...ha(s) been put on hold
to fund their child's college education."Are you kidding? If my
children want an education, they can pay the same price I paid to get mine. They
can either study hard and get a scholarship or work to pay their own tuition. If
they can't afford tuition an an "elite" (read: expensive) college or
university, they can go to the "Y" or "U" or other
affordable institution. If I can help a little, I will, but not at the expense
of the financial security my wife and I have worked hard to achieve.
One Old Man said it best, imo.
With these comments I am glad to see that people are smarter than banks and Wall
Street gives them credit for. But I think the target group of all the save the
children campaigns and logs are intended to deceive the much younger populations
who have gotten misplaced federal indoctrination education than one of knowledge
and wisdom to seek knowledge.The parents should make a greater
effort to secure more tangible retirement and self support than worry about a
future that is still being written. Sure parents care about their children, but
children have to learn to fend and care for themselves without others decisions.
My belief is that children who earn and provide for themselves are more
productive for society and themselves.I think all this save the
childrens future is Wall Street banking scams to separate a fool from his money.
Children will decide and provide for their own future as it has always been
done. If parents don't provide and care for their own future, they will not
provide any hope to children for their future.
My university education is one of my most prized possessions. This fine
education wouldn't have been possible had I not taken high school seriously.
Althouth questionable degrees do exist, for the most part a university education
is worth the money. Not only because of the education, but in most cases a
person will make more money.I've heard conservative talk radio hosts
put down the value of a university education, let me say if you buy into this,
you are a sucker.
This is a choose people have to make now, because wages have been stagnant in
America for 30 years.
How many parents really fund their children's college educations? I am sure
there are some...but not me or anyone that I knew while going to college. Most
people were figuring it out, in large part, for themselves. This involved
involved working, scholarships, grants, loans, etc. As long as you selected a
major wisely, it was well worth it in the end. I do not know where this idea
came from the people should be supported by mommy and daddy well into their 20's
because they are going to college.
A college education, especially an expensive one, is arguably overrated. Having
money to retire with and not having to eat pet food, isn't...
Indeed placing your own retirement before your kids' education is prudent and
correct.I have three degrees and I financed and earned it on my own
from beginning to end.Opportunities are as open to younger
generations and as good as they've has ever been.I for one am also
spending "my children's inheritance" while I'm still around.It's called "free enterprise" and as long as that is our economic
system, let the kids do it on their own too.If they've got the
potential, they'll get the job done.If they don't have the
potential, handing it to them on a silver platter will do no good.
It's really a pity when American must choose between two essentials like a
decent retirement and educating their children.Our American Dream
has been sold out to special interests by our politicians.
Correction: I meant to say "...moral standard with RELATIVE (or convenient)
thought about the point you're making a lot. I never seem to be able to decide
on how to give a solid answer to a non-solid idea. (hopefully that makes sense).
Money is all made up. I couldn't agree more. Although it is backed up by
something, it just isn't gold. It's backed by our willingness to back it, or
value it. If every last human turned around and said, 'I'm done playing this
game' then money would have no value, the rich would have no more power than the
property they own and their bare two hands to cultivate it.I don't
think the government could do it in a day. Wall street couldn't even do it in a
day. I think if everyone in this country did their share, we probably could.
Maybe that's the only way we can at all, is if we all do it... Either way, I'm
for a free system, which capitalism 'on paper' is, but where no one participates
in the democracy- the greedy from all classes are siphoning the life out of us.
The debt is all made up. Money is all made up. It's not backed by anything.
Money is only real because the government says it is and they can print it at
will, as they've done a few times recently. The US could be out of debt tomorrow
if our government really wanted us to be... but the people pulling the strings
want to keep us here, keep us under their thumbs, make us slave away for
pittance wages and take all the profits for themselves.
Taking care of your own needs and responsibilities first is the best way to help
take care of others- like a mother giving herself oxygen before her baby, on a
crashing plane.I know of some people who feel like the debt this
nation is in is acceptable, because their children can take the load. This is
entirely self-serving and ultimately a destructive principle. We must own up to
our responsibilities. Paying our debts secures our future, which in turn will
secure children a future. The problem is that so many, parents and children
alike, are accepting the abdication of commitment, responsibility, duty, and
promises in favor of instant relief, temporary ease, and an underlying prolonged
suffering in favor of working towards rest later.The greater we
tolerate a lack of virtue and moral value, the less we are able to understand
and remember our responsibility. We must honor our agreements, be true to our
word, and repay what we have borrowed- Without acknowledging that this integral
to the criteria for being morally upright, we would feel no obligation. By
replacing this obligatory moral standard with relevant (or convenient)
standards, only moral tyranny and unrest can abound.