Whats your backup plan?

UpstateNYUPSer(Ret)

Well-Known Member
I just want to make sure my son has as little debt to start off. Too many kids are starting off with a ton of debt and slim job prospects. As much as I want to hang them up after three more years, reality may force me to work four more to give the kid a break. However, if he gets a bunch of scholarships, three and I'm done.

Are we talking undergrad or grad school? If it is the former I totally agree. If it is the latter they are on their own (dime).

My son is starting his post-grad school life w/$73K in student loan debt. That scares the hell out of me but he has his MBA and hopes to have it paid off in less than 10 years.
 

joeboodog

good people drink good beer
Are we talking undergrad or grad school? If it is the former I totally agree. If it is the latter they are on their own (dime).

My son is starting his post-grad school life w/$73K in student loan debt. That scares the hell out of me but he has his MBA and hopes to have it paid off in less than 10 years.

Under grad. He just finished his freshman year of high school getting all "A's" and a "B." I know I sound like a boastful Dad but he is brilliant. He keeps me on my toes.
 

TooTechie

Geek in Brown
... proper planning along the way would have allowed you to leave on your own terms, not your son's. Working 7 more years to help your son pay for school? I don't think so---they are called student loans for a reason.
Man, I don't think I'll ever get used to how abrasive and miserable you are.
 

UpstateNYUPSer(Ret)

Well-Known Member
Would you rather I sugar coat everything?

I love my son but there is no way in hell I would work 7 more years than I needed to when he has the ability to borrow the money.

Suze Orman would tell you the same thing.

My ex and I split 50/50 his first year of school. He returned the favor by partying to the point where he was asked not to return for his sophomore year. We cut off the checkbook and he graduated from our local community college, SUNY school and just received his MBA from Clarkson all on his own dime. Do I feel bad that he will be starting his professional life w/$73K of student loan debt? It scares the crap out of me but he has a job waiting for him in September and he will be just fine.

Working 7 extra years just ain't an option for me.
 
Last edited:

soberups

Pees in the brown Koolaid
I have 2 years and 9 months left until I hit PEER 80, and since I have over 25 years and am locked in they cant take my PEER 80 away. If I got fired tomorrow, instead of 2 yrs 9 months it would be twice that, or about 5 1/2 years until I could start collecting unless I got another union job (which our BA is really good at getting for people who deserve them). I could easily get a job driving a school bus, or working for the company that my wife manages. I could go on my wife's insurance if I had to. Losing my job at UPS would definitely be a big setback, but I am close enough to the finish line that we could make some adjustments to our lifestyle and be OK.
 
Top