Paying for College

Posted by admin on January 15, 2010 · Leave a Comment

I was watching a morning show today and they were talking about how a lady didn’t know what she was going to do because she owed $163,000 in student loans and was only earning $50,000 now.

The experts of course helped her negotiate the student loans down to a lower price for her.

Jack started crying so I didn’t hear if they said this or not but I would like to point out that if you can’t pay cash for college then you shouldn’t be going! Period!

Frankly I’m tired of hearing people whining about how they just “can’t” pay for their student loans because they aren’t earning enough.

Why is it people think it’s ok to have student loans on their backs for 10-20 years but they can’t take 6-8 years to go to school part time and work to pay cash for it?

The fact is you should be paying cash for college. For years people worked at night, on the weekends and in the summer to pay for it. They worked hard to get scholarships and grants to help pay for it. They worked hard to pay their living expenses; they scrimped and saved so they wouldn’t have any debt after school.

If you have kids that are planning to start college next year or are there right now encourage them to pay cash for it themselves.

You may have to start at a junior college to get the basics, work to get scholarships and grants and yes, go part time so you can work full time, to pay for it and your living expenses.

If you are a parent and feel the need to help your kids out with school that’s fine but all your debt should be paid off first including your house. If your house and debt is paid off then you will have the extra to help out.

Tawra