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Old 05-22-2019, 12:38 PM
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Quote:
Originally Posted by Tired and Cranky View Post
People who graduate from college today without debt are pretty privileged, one way or another.
And some just happen to have parents who planned, and good grades, and a little luck. We had only one daughter and we were living in Florida when the Florida Prepaid College Plan came into being. From the time she was a toddler till she was in college, we paid $35 per month for her to be in the 4-year program, but without the dorm package.

In addition, she had the grades and the community service that qualified her for a full-ride Bright Futures scholarship. The prepaid plan and the scholarship covered her tuition, books, and fees with maybe a little left over. She worked in a restaurant for a while, then later at the local science museum to help pay her rent, groceries, gasoline, and other living expenses, and we subsidized some of that for her. She also had a small inheritance from my grandfather that he specified for education (less than $5K) and a few savings bonds from my grandmother - maybe $1200 total there.

So she graduated without debt (well, except for that misused credit card, but she did take care of it.) And that was doubly fortunate, because she became a teacher - had she taken out loans, she'd have been living in a refrigerator box under an overpass. I wouldn't call her privileged, but she was lucky to have parents who planned, and also lucky she didn't have any siblings.

Way back in '72 when I started college the first time, being the oldest of 5, the best my parents could do was allow me to live at home. I worked weekends and summers and banked all I could (I think I was making $2.25/hr) and even then, I had to take out a small loan my first semester. I ended up dropping out and joining the Navy, and I later went back to school using my GI Bill. I couldn't have done it otherwise.