Created
Jun 19 2008
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so i have been lookin 4 the blog button 4 the last....OK ever scense i was turn'd onto stumble...wow what a **** i m...any way today to is the beginning of me helpping the massing with...my very own words of advice....yes this is very ego driven of me...but i figure that if i am old enough to run for president of the US....i would probably would serve the public better by just share my wisdom with those who seek the answers...so ask ...post...comment..
19June2008 Topic: Parents paying for College..A new Deal
I am the parent of a just finishing freshman yr in college. Lets just say it was not a parents dream year, the first semester he failed four classes and partied like a season'd ROCK STAR.
Weeeelllllll lets just say; that the wife and I, did the math and for him to continue to party like a rock star and not have a degree in four yrs., because of repeat academics performance, we would be out of 60K just on the low side. And if the parting really got out of hand, lets just say " no soup for you" in our retirement.
So after a loooong Christmas holiday, I decided to us a format the my company has for the employees as a benefit. Its called tuition reimbursement, were you make the pass the class along with a set upon grades and they will pay, then and only then.
Beginning his second semester I had him take on student loans. We will pay for all classes with a passing grade of C or better. and will never pay for any failed classes. Once a class is failed, he owns it and will have to re-take that class for however long it takes him to get a passing grade.
Jump forward to the end of second semester; it seems my brilliant plan has the score (1-0) parents. He failed two classes, one of them a repeat from last semester. I figure we are ahead by $2200 if we also pro-rate room and board.
We are not out of any more $$$ than what we spent the first semester, his loans will be his untill he graduate. Our money will continue to earn( what we can get in the economy "sad face" ) some interest. Maybe we will earn enough to suppliment medicade when we retire.
OK enough about my selfish thought about our long term care...he just might become a self made man ( with our help) and take care of his aging parents
In all reality we are just hoping that he gets it B4 its to late, but we figured that if he doesn't why let him take us down with him.
For all that read this please feel free you this model or pass along to friends and family. We love and care for our kids, but we are still responsible for our lives too.
L&R = love & respect
2YS