• Home
  • About Us
  • Archives
  • Contact Us
  • Advertise
  • Privacy Policy

Kids Ain't Cheap

But They Sure Are Worth It

  • Home
  • Toolkit
  • Parenting
    • Baby Stuff
    • Books and Reading
      • Aesops Fables
      • Comic Books
    • Education
    • Family Time
    • Green Living
    • Growing Up
    • Healthy Living & Eating
    • Holidays
    • Parenting
    • Random Musings
    • Shopping
    • Stuff to Do
  • Money
  • Product Reviews
    • Books and Magazines
    • Discount Sites
    • Furniture
    • House Keeping
    • Reviews News
    • Toys and Games

College Doesn’t Have to Cost a Fortune

March 23, 2023 | Leave a Comment

Person Holding Their Graduation Cap in the Air

I have three children—one is attending a community college, and the other two are finishing up 7th and 8th grade. I have immersed myself in learning about the college application process and how to pay for college and get merit scholarships. What I am finding makes me a bit sad. So many students are taking out loans for tens of thousands of dollars, but college doesn’t have to cost a fortune.

We Won’t Take Out Parent Loans

My husband and I agree that we won’t take out parent loans for our children’s college. Every parent has to decide if they’re willing to go into debt for their children’s educations, and we’re not. My husband and I both attended graduate school and started our careers in our late twenties and early thirties, so we must make up for lost time regarding retirement. We are choosing to prioritize our retirement over our children’s education.

We’ll Encourage Our Children Not to Take Out Loans

Likewise, we encourage our children not to take out loans. But, if they must, we don’t want them to take out loans for more than $15,000 to pay for their four years of school.

Based on our own experiences, students tend to think they’ll pay off their student loans quickly, but then life interferes. The jobs they get after college may not pay as well as they thought they would, or they may want to start a family and find one person needs to pause their career to take care of the child. If they both continue to work, daycare can be expensive.

It’s better not to get loans at all, if possible. If not, keeping the loans to a minimum is important for our family. Federal student loans are often less expensive than private loans, so if your kids have to borrow, going with Uncle Sam is marginally better.

We Encourage Our Kids to Pursue Merit

We’re also encouraging our kids to pursue merit scholarships. Our son got a scholarship to a community college; the remainder of the balance for his tuition is low enough that my husband and I can pay it. Our son will not have any student loans during his first two years of college.

They’ll Stay Local If Necessary

Girl studying with a book on her lap

Our two younger children plan to apply to several colleges and see if they get merit aid. If they don’t, we’re lucky to have several colleges and universities within 30 minutes of our house. They will choose one of those schools rather than go into debt to pay for college.

Final Thoughts

Every family must decide what is best for their children when it comes to choosing a college and paying for it. However, college doesn’t have to cost a fortune. My husband and I have told our children how much money we have to help them through school. To make up for the difference, they’ll have to get merit aid or choose a local school. Using this plan, they should graduate with no or minimal debt, and my husband and I won’t have to take out any parent loans.

Read More

3 Mistakes We Made in the College Process

4 (More) Great Part-Time Job Options for College Students

Non-Traditional and Easy Jobs for College Students

Melissa Batai
Melissa Batai

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in Arizona where she dislikes the summer heat but loves the natural beauty of the area.

Filed Under: Money and Finances Tagged With: college education, paying for college, student loans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Facebook
  • Pinterest
  • RSS
  • Twitter
Best Parenting Blogs

Copyright © 2025 Runway Pro Theme by Viva la Violette