An important aspect of receiving a college degree is "pay as you go".
In the past, students worked part time or even full time and attended college
and received good grades. Paying as much of the tuition as possible by being
employed helps in avoiding college debt that goes on forever.
I'll tell you what you can do. Start by voting out the current president
so our economy has a chance to recover.
Yes, save some, but not at the expense of your own savings, your kids will have
options. Also, pay off debt - you'd be surprised how much you could afford
to help with tuition bills if you had no mortgage! Finally, find a good value
for college - expensive universities do not always prove a benefit, especially
for an undergrad degree.
These are all good ideas. My children paid for some of their
education, but, this is not something one should count on. It is a
bonus. There are very few out of town universities worth attending.
Harvard matters for Grad studies. Undergrads pay for it. University is
not for everyone. If your child does not know what to do with his
life then save your money and your child's time. Send him to a
trade school. He will make more money as a brick layer. In fact, my
first option for most young people is the trades. Unless they are
really gifted, I would consider the trades. And, by trades I am
including everything computer related, practical. If you have a way of
getting citizenship in Europe, Canada or Mexico, consider it. Universities are
much less expensive. Do not sign up for those private online
universities. Avoid gimmicks. If it is too good to be true then it
is. Remember that tuition is only part of the cost. Talk to people
who have done it successfully. Do it while you are young. We are doing
it for our grandchildren.
Mitt says just ask Mom and Dad. Problem solved!Okay, I'm being
sarcastic... Mitt did say that times were tough for him in college, and he had
to sell his stock to pay for school. This is definitely another option.
Families do nothing as far as financing student loans. If a person wants a
higher education then it is the individuals responsibility to be accountable to
pay for and fund that education. What's really insulting is that it is all
these colleges and schools sponsoring these phony insurance policy's and
robbing the family's of their widows mite.This idea of saving
for college funds is a snake oil sales pitch to separate the fools from their
money. It's like buying insurance, you pay and you lose. These plans always
target the poor and poverty stricken who are barley surviving as a family in
this economy then these loan sharks throw this guilt trip on them. There is no
shame in being poor or needy, you are a proud american.Paying for
children in college has always been the wealthy that could afford higher
educaiton. Students and families are finding out that higher education is not
cheap or free nor a path to success. Those who chose debt for school costs spend
the next 30 year of working to pay for it nullifying any gains. Only illegal
foreign nationals and anchors get free government paid education.
If a family does not have the financial resources or neglected to do adequate
planning, the options are very few. Students can compete for scholarships, but
the only recourse is to borrow the money needed to pay for college. The need
for careful planning should not be over-estimated. However, low-cost,
low-interest student loans, if managed appropriately, is the only way most young
Americans will be able to afford college today.A possibility for the
future is to have government/private grants for students entering certain
disciplines in science and technology which will be in high demand in the years
to come. These grants should be based on the students making appropriate
progress toward graduation. It many respects, it would be an extensive
expansion of the scholarship awards to encourage students to pursue certain
degrees.A possibility is to have students obtain student loans where
necessary with the understanding that they will be reimbursed-in-full upon
graduation in a timely manner. The military currently does this for obtaining
quality recruits. Offering this to graduates entering specific areas in the
national economy would be an excellent way to generate quality employees at low