mortgage or college?

iVillage Member
Registered: 03-27-2005
mortgage or college?
24
Tue, 02-10-2009 - 1:28pm

I have a dilema and I'm not sure what to do about it.

iVillage Member
Registered: 03-27-2005
Wed, 02-11-2009 - 8:06am

From all the college visits I have been on, and financial folks I have spoken to this past year, I would say

iVillage Member
Registered: 03-27-2005
Wed, 02-11-2009 - 8:15am
iVillage Member
Registered: 03-27-2005
Wed, 02-11-2009 - 8:29am

I think it would be in your son's best interest, if you haven't already, to have him do informational interviews/job shadowing of a few people in the career position he is hoping to pursue. This way, he can see them on the job and also talk to them about how they got into the position. I know this can be a little uncomfortable for some, but it sure beats getting into debt and then finding out it was unneccessary or that you don't like that field of work in the end.


Actually

iVillage Member
Registered: 09-26-2007
Wed, 02-11-2009 - 9:33am
I would say that I agree with helping your son with college. Some things to consider are that if you put the savings in your name, only a percentage is counted as far as assets to be used towards education, if you put it in your son's name they expect you to apply 100% of the savings toward tuition. Therefore it's perfectly fine to save, but if you do it under your own name then it doesn't affect the EFC as much. Second, if he can qualify for a SUBSIDIZED Stafford loan through an accredited Bible school then that would be ideal. Then you could continue to save throughout his 4 years and apply all you have saved to the loan at the end. Subsidized loans do not accrue any interest for you during the time he is attending classes, as it's paid by the government. So, if you were still wanting to help him out I would save and put the money in an interest bearing account until he's ready to graduate, and then make a loan payment if you wish to help him. I do agree that students are more serious if they have some money invested in their own education, but you want him to get as much out of his education as possible, and I think that may mean helping out if you're in the position to do so.
iVillage Member
Registered: 08-04-2008
Wed, 02-11-2009 - 11:52am

Hey, I want to be a responsible parent too, I have always expected she would go to college and will support her in that effort.




iVillage Member
Registered: 03-17-2003
Wed, 02-11-2009 - 12:13pm
I've been through the application and admissions process several times.
iVillage Member
Registered: 12-10-2003
Wed, 02-11-2009 - 1:10pm
Not sure what state you are in so I'm not sure if this is an option for your son or not. A lot of states offer post secondary enrollment options where juniors and seniors in high school can take classes at a local college while still attending high school. The high schools pay the tuition for these classes as long as the class meets graduation requirements.I know several people who have taken advantage of this to get some of their college work done before graduating. This would cut down on the number of classes your son would need to earn while attending college so he may cut down on the number of semesters he would have to attend. All colleges tend to have similar basic core requirements regardless of the degree such as English composition so it may be worth looking into if it is available.
iVillage Member
Registered: 08-04-2008
Wed, 02-11-2009 - 5:06pm

When studying negotiation, you never want to seem




Avatar for sohappilyme
iVillage Member
Registered: 03-26-2003
Wed, 02-11-2009 - 5:38pm
That's not true of all community colleges. We have fantastic programs here, and I know many folks who started at a CC and moved on to a four year university. Some, in fact, went to prestigious universities from there! I'm in VA and some of my CC friends went on to University of VA, VA Tech, and the College of William and Mary. One is now the head of internal medicine at a hospital. Needless to say, I went to a community college (I started my college education while I was still in high school) and went on to double major (at a university) in biology and biochemistry and do quite well. And we didn't even have ash trays! =c)

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Goal #1:

Sarah
iVillage Member
Registered: 03-17-2003
Wed, 02-11-2009 - 6:02pm
There is a difference between interested and disinterested.