I have one child in college, #2 next year, #3 2019, #4 2022, #5 2027. No loans so far.
When I went to college my family paid $3800/year. When I went to medical school, it was $1600/year, the State of NY paid half and I paid the rest.
The status quo is so absurd, on so many levels, it’s hard to even think about it, much less write about it.
Unless and until federal student loans are abolished, the problem is going to get worse and worse.
Basically, it is a subset of the problem of substituting debt for money, so as to enslave the world.
In state university. (much to her disappointment).
First year I payed close to 20K so she could have the "full experience". This year was apartment owned by the school so it was a little cheaper. Next year is study abroad with the agreement she stays home and commutes the second half. By then she should be close to done.
Then I have one more. Currently he's tied to be valedictorian. The top two in my daughter's class got full scholarship offers to a few big schools. My kids are 25% Asian. My daughter wouldn't check the Asian box but my son will--so keeping my fingers crossed that works in his favor. Though Asian is the only other race/ethnicity that can be discriminated against.
It's painful. Especially when you know it's such a racket.
My brother put his kids through Duke. Took out loans, etc. One works for one of the Big 4 accounting firms (who will hire a music major out of any school--meaning they hire anyone) and the other one works in one of the labs at Duke. LOL.