Student Loan Conversation With My Sister
Two days ago I gave my sister a call and asked her about her experience with my nephew when he attended college. She told me he first went to college in Vermont, and his primary interest was in athletics and skiing. The first year his tuition was $25,000. I asked her how they financed it, and she said she and her husband paid and the entire $25,000 in four installments the year he attended. That was his only year that my nephew spent at that college.
They accepted him to four schools in different states so my sister, with her husband with my nephew visited all the other schools and he ended up attending a college in Colorado. While there, he also took part in skiing. My sister explained that the school was excellent, and they met the parents of the student who was his roommate and met professors that would teach their son.
My nephew was on the ski team as planned, but as time went on, it became obvious school was not that interesting to him and he wasn’t good at it. His grades were not great, and he lacked the interest to continue so he dropped out and never went back. That year my sister and brother-in-law paid $45,000 for one year to that college.
Taking those 2 college years into consideration the total cost was $70,000. My nephew had loving parents who didn’t want him to start life off with student loans after he graduated so they paid for it. The sad ending to the story is he never finished college he never went back, and he spent 2 years and $70,000 on achieving nothing. That was an expensive lesson for the parents.
Looking at myself in my situation with my son, things are a little different. He is an honor student; he’s excellent in math, very conscientious about his school work and is doing better than the average student. I’m not saying this to brag, I’m just sharing the facts. As far as it concerns the future, I hope he continues on this path, but only time will tell. As a parent who wants only the best for his child, I will continue to support him in any way I can and if he gets stuck or gets off track as a father I take it as my responsibility to help him get back on track.
He has also been playing the saxophone since 5th grade and is getting better at it every year. He is following in his grandfather’s footsteps, who was a musician and also played the saxophone and clarinet. They never knew each other because my father passed away before my son was born, but if there is a heaven up above, I’m certain he is up there looking down with a smile at his grandson when he plays.
I love my nephew as if he was my son or my younger brother and for him college was not in the cards. It’s not for everybody so I am not judgmental, however I don’t want to go through the same experience as my sister and pay $70,000 for nothing. My sister wanted the best for her son, except it didn’t work out. It was an expensive experience and my nephew is very fortunate that his loving parents could pay for everything. I don’t want to have the same end results.
I’m biased because I love my son, but I’m just being the father I am. By all means he is not perfect, but looking around at how other kids are doing in school, and how some parents raise their kids, I consider myself very lucky. As you get to know me and more about my background and my son’s, you will learn how and why we are different.
As my son is getting ready for high school, last week he took his 1st college evaluation exam with his best friend, who is also an honor student, and they are taking their 2nd test this week. The reason for doing this is if they qualify they will take college courses while they are still in high school, and they will graduate college at least one year sooner. That should also save us some money.
You might wonder why I’m talking about my son and student loans, but since I’m on a fixed income if my son wants to go to college the time is now for me to figure out how to pay for it. Without a plan we’ll never achieve our goal so the time to work this issue is now. With all the opportunities that the Internet offers I know that we can do this.
We have a 4 1/2 year jump on achieving this goal, since that is when his 1st year of college will start. We also decided that his 1st year will be in the Community College nearby where he is taking the tests, so he can spend that year figuring out what he wants to be when he grows up and we select the right school.
He is hooked on video games, and he’s great at it. He is working on a YouTube channel with his friend, but he still has much to learn before he can run a business and have a profitable business online that generates income.
In my next post I will provide some additional information about student loans after which I will get on to other topics I believe are important to discuss. Keep in mind that the student loan topic is my primary focus and my goal is to avoid student loans like the plague.
I don’t know if you’re a parent or a student or why you’re even reading this blog, but I hope you find it helpful. Perhaps it will motivate you to be proactive with your student loan situation as I am.
You are welcome to share your opinion and your personal experiences so I and others reading this might learn something we were not aware of. If you are on a similar path as we are and are interested in figuring out how to pay for your or your child’s education follow us.
If that is the case I wish you much luck and success in your journey, and the time has come for us to get this show on the road.
Have a wonderful Monday!
Goulash