College Debt

Last night, I read an article on CNN about some parents that were close to retiring and dreaming about traveling the world. Unfortunately, that will be just a dream because they are over 180,000 dollars in debt after helping their two kids through college.

The article frustrated me. My parents made it clear very early on that I was going to be paying for college by myself. Any time that I expressed interest in a private school, they quickly steered me away by pointing out the cost and pushing me towards public schools.

At the beginning of my senior year in high school, I got a lecture from my parents about applying for scholarships. I got the lecture several more times even though I do not feel that I deserved it. I was doing everything I could.

I did end up getting several scholarships and I qualified for financial aid. The was my parents only contribution to helping with college. And once I arrived on campus, I got a job.

During college, I did not have much of a life. I worked a lot and took about eighteen hours every semester so that I could graduate in three and a half years. However, I managed to graduate debt free.

The article mentioned that both kids had not found a job which really did not surprise me when their majors were mentioned. They graduated in fields where jobs are not always promising. That is why one of the kids was going back to school for a second degree. I am guessing his parents are paying for this degree too.

If parents want to help with their child’s education, that is fine. However, the parents should not go into debt because of it. And the kids need to take on some responsibility.

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