Wish it was that easy. Dad is dead and mom works are Roses. Not gonna be much help
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Student loans
- Thread starter jpm2953
- Start date
Honestly it comes down to personal ownership in terms of legislating a solution (bad idea). You accept the loan as you would any other loan except this one has literally no backing. Accountability just needs to be forced i see way too many I know complain about their student loans while they drive teslas and new phones and all other luxuries. I got about 50k in loans when i started first 2 years no govt oversight and loans through private lenders and id say good rates in my opinion for an unsecured loan, 3rd and 4th year big friendly govt decides to nationalize the student loans and bam all the sudden they're 6, 7, 8 percent and you couldn't shop around. I worked my ass off and continued to live very beneath my means and had it payed off in 4 yrs its tough in your situation but as long as you and your wife make the personal sacrifice and hit it hard or even just steady pace wins the race payments you'll come out ahead, good luck to you and congrats on the child she may want to look into doing small hobby type items to sell on the side too to help with extra payments
Good luck. It seems like a debt consolidation with a mortgage refi may work for you.
My wife and I got our daughter through college debt free by paying what we could in cash when the bill was due and financing the rest on a credit card. We would divide the balance by the number of months in the semester and that was our monthly payment to ensure it was zeroed out before the start of the next semester. We had a serious detailed family discussion about cost of attendance , travel distance , room and board costs etc that helped shape what colleges our child applied to. Our son earned a football scholarship and is debt free as well.
Both my wife and I got through college debt free from a combination of scholarships, grants , Mom and Dad. College costs were not that high " back in the day " as they are now.
My wife and I got our daughter through college debt free by paying what we could in cash when the bill was due and financing the rest on a credit card. We would divide the balance by the number of months in the semester and that was our monthly payment to ensure it was zeroed out before the start of the next semester. We had a serious detailed family discussion about cost of attendance , travel distance , room and board costs etc that helped shape what colleges our child applied to. Our son earned a football scholarship and is debt free as well.
Both my wife and I got through college debt free from a combination of scholarships, grants , Mom and Dad. College costs were not that high " back in the day " as they are now.
