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      11-24-2019, 06:54 AM   #12
vreihen16
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Pay for student loans? Looking at the recent government policies, the odds that your loan will be forgiven by government decree are probably over 50% right now...and increasing daily if the liberals take the White House in 2020.

Let me also throw in the sticker price game in case you don't know it. Nobody pays sticker price for college/university tuition these days, except maybe community college students. Schools are so desperate for new students that the national discount rate averages over 50% at private schools. Oh, and stay away from for-profit schools, unless you like financial drama and scrambling to find another school that will except worthless credits when your choice of schools closes either due to financial insolvency or loss of accreditation.

More a note for parents of college-bound teens, but let me point out a tip that a friend who works at a college passed along to me years ago. Instead of paying for a dorm room and food plan, buy a two-bedroom condo or townhouse near the school. Put your kid in one room, and have them find a roommate to rent the other room. The rental income and money that you would have spent on dorm/food fees will more than cover the mortgage and utilities, and barring another 2008 real estate market correction the appreciation when you go to sell it at graduation might make a large dent in any outstanding student loan before the first payment is ever due.

Interesting story from a co-worker who recently retired. In the late 1970's, he worked a job when he was young where they had a mandatory 401(k)-like retirement contribution plan. Put in $1,500 total over two years, and forgot about the account. With the market growth through the years, he had $87,000 in that account when he retired in 2012! If you're in your 20's, that $10K could very well wind up being over half a million bucks if you don't touch it or contribute another dime.....
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