Student loans > credit card debt

glatt · 09-17-2010, 10:10 AM

As a parent of an elementary school kid and a middle school kid, this terrifies me. We're trying to save for college, but it's hard to scrape much together, and it's growing at a fraction of the rate that college costs are rising.

The state university is currently around $23K/year for residents. So that's roughly $100K to make it through undergrad. That's today. I expect it to be about $300K by the time my kids are in college, based on the rates of increase. I've got two kids, so that's $600K. Over half a million dollars. How the fuck is anyone supposed to come up with that kind of money?

A part time job will chip away at that, but it's like using a chisel and hammer to chip away at the Washington Monument.

09-17-2010, 10:10 AM	#3
glatt ™ Join Date: Jul 2003 Location: Arlington, VA Posts: 27,717	As a parent of an elementary school kid and a middle school kid, this terrifies me. We're trying to save for college, but it's hard to scrape much together, and it's growing at a fraction of the rate that college costs are rising. The state university is currently around $23K/year for residents. So that's roughly $100K to make it through undergrad. That's today. I expect it to be about $300K by the time my kids are in college, based on the rates of increase. I've got two kids, so that's $600K. Over half a million dollars. How the fuck is anyone supposed to come up with that kind of money? A part time job will chip away at that, but it's like using a chisel and hammer to chip away at the Washington Monument.

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)