Posted on 03/13/2017 4:00:22 PM PDT by Lorianne
It’s no secret that student debt can challenge millennials looking to start careers and launch into young adulthood. Increasingly, however, college loans are also making it harder for their parents to wind down their working lives.
Take Harlan Crider, of Elverson, Pa.: He’s 79, and he’s still putting in about 40 hours a week doing property assessments. He’d rather retire, but he owes $400 a month on loans he took out to help pay for his son’s college.
Stories like Crider’s are becoming more common as families seek ways to finance school amid rising college costs and federal loan limits that have remained relatively flat for students. The dollar volume of Parent Plus loans — the loan the government offers parents — has doubled in the past decade, according to an analysis of federal student loan data by Mark Kantrowitz, publisher of college scholarship and search site Cappex.com.
Crider stretched out the loan’s repayment term to 30 years to make the payments more manageable, but that means the loan term doesn’t run out until about 2030.
“I’m going to be paying until I’m dead,” he told MarketWatch.
(Excerpt) Read more at marketwatch.com ...
The real sad part of this is that the students aren’t being educated. They are being indoctrinated into a hate America and the Constitution mentality. And, their parents are paying for it.
This guy?
http://www.smallbusinessdb.com/crider-associates-elverson-pa-19520.htm
the 100K+ figure pops up on a few sites if that is him..
Why not just pay it off?
State university, not private university. Employable major, not something "fulfilling and meaningful". Community college for the first two years if money is tight. Earn the grades in engineering, nursing, accounting, or some other marketable skill, or get a blue-collar job and earn money. I would never have taken on a college loan for my kids; that would have been their job if necessary.
There needs to be a lot more associates degrees or certification, there are many opportunities, if you can do a skill you do not need 4 years of college to sharpen it.
Maybe the kids should go to a community college for 2 years instead of running off to colleges with ridiculous tuition and room and board.
Maybe the kids should go to a community college for 2 years instead of running off to colleges with ridiculous tuition and room and board.
A parent has to be hardened in order for their children to be independent. Mine? Sure. We helped them a lot with their home work, taught them how to organize their studies and how to work with the syllabus. Exercised them, paid them for work around the place and fed them healthy, nutritious meals. No snacks, no BS. They all kept their noses clean, we closely monitored their “friends”. It was basically a military dictatorship. They all went into the service and they finished up their degree programs. We chose to be parents and not friends, not pals, nor buddies. Guess what happened next? They grew up and are responsible adults. I think they appreciate the family culture we instituted from the get go.
Hmmmm. Needs $400. Works 40 hours/week x 4 weeks/month. He's making $2.50/hr?
Maybe he likes working and is paying for the kid's college to get around the death tax.
This whole thing stinks of fake news on many levels.
Serves them right. It’s good for the economy when they work and produce.
- Harlan Crider is 79 years old.
- In 2002 Mr. Cider took out a loan of $30,000 for his son.
- It is possible Mr. Cider had a child at 45 years old (making little Johnny 19 years old in 2002 and now 34 years old today). And it is also possible that little Johnny was as old as 60 in 2002.
In any case, little Johnny, whether he is now 34 years old or 60 years old is forcing his 79 year old father to work on his behalf, for all practical purposes, until he is dead.
The Bible has something important to say about such matters.
“For God has said, 'Honor your father and your mother,' and 'Whoever reviles his father and his mother shall surely die.'”
Or Sonny is dead, disabled, mentally incompetent. The loans still must be paid.
I am not a parent, and thus lack the obsession required to finance someone’s (often pointless) college education. I see my sister doing this presently and am thinking, “Why?”
If someone has the wealth to pay for their kids’ college outright, awesome! But take on debt for an adult?
My wife his mother had breast cancer. My son stayed home and did community college for two years now he goes to the University for 1.5 years. I am blessed my son help me so much.
Money was not the issue. I am a MD. It was caring for family.
College tuition has gone up disproportionately in relation to inflation. Working and goong to school is not an option. A $10.00/hr part time job won’t make a dent in the costs. Plus it may hurt your GPA.
Even if your kid does the right thing and majors in STEM they will still have to compete with H-1B indentured servants upon graduation. Face it. Americans are beinmg phased out, replaced.
One of my clients is Jewish and grew up in New Haven, has a PhD from prestigious east coast college, has very high IQ but no common sense or ability to communicate to anyone outside his circle. Had two kids. Girl went to Boston to college, got degree in art history, married a female. Son graduated from high school started a computer service company and wrote some software which he sold. Made enough first two years to buy and pay cash for a three bedroom condo, a sports car and put a chunk in savings. Continues to do very well. Father still says he won’t grow to his full potential because he has no college degree and has pretty much stopped communicating with him. Thinks his daughter contributes so much more.
You don’t borrow to pay for the kid’s college cost
You don’t co-sign ANY of his loans
He can conduct gender studies at the local Do Drop Inn
Learn to be a plumber or a tool and die maker. More money and job prospects.
Thinks his daughter contributes so much more.
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there are fools...
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