Conversation on Parents Paying for College

Graduation

The following is a staff writer post from MikeS.  He is a married father of 2.  So, with the cat, he ranks number 5 in the house.  He loves numbers and helping people. Please leave any questions or comments below for either Mike or Crystal. I don’t know how exactly the conversation came up, but my wife, her mother and I were talking about college expenses.  My mother-in-law remarked how she had heard someone talking about how they were not going to be paying for college for their kids.  During the conversation, we talked about a few things.  One discussion point was whether a parent should pay for college.  The other was the plans that, my wife and I, have for our children.  The last was on how having limited student loans have benefited my wife and I financially. To Pay or Not to Pay There is not a right or wrong answer to this question in my opinion.  I do not believe that parents are obligated to pay for higher education for their children.  I believe that once a child reaches the age of 18, that anything a parent does after that is extra. Now, that doesn’t mean that … Read more

2013 Challenges Revisited

The following is a staff writer post from MikeS.  He is a married father of 2.  So, with the cat, he ranks number 5 in the house.  He loves numbers and helping people. Please leave any questions or comments below for either Mike or Crystal. As the year is drawing to a close, I thought I would look back on my challenges for 2013.  The challenges turned out to be not that bad.  I’m sure when I wrote that post these items seemed more challenging, but life has a way of working itself out. Debt I had been worried about how I was going to pay off my son’s leftover medical bills.  The $5,000 we had left over was on a credit card with an expiring 0% interest rate.  This bill was effectively wiped out when I received my annual bonus this year.  The bonus was larger than I was expecting and more than took care of the bill.  This year we have even managed to eliminate my wife’s student loans.  We had owed about $10,000 on her loans when the year started and have since paid them off.  We still have 2 outstanding loan obligations, our mortgage and car … Read more