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Author: IslandFoolin One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309665  
Subject: Re: Me vs. My Parents $40K Debt (Long) Date: 9/7/2004 3:50 PM
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About recouping for my college education. I was all for paying for my own college, taking out all the loans in my name, etc... I began work at 12 years old and since then have paid for all of my luxuries and most of my necessities these past 4 years. My parents have always felt that it is their responsibilty as parents to see to it that their children are entitled to an education. Different strokes for different folks I guess.

Like I posted earlier they have decided that this is the route they want to take, they are aware of the riskiness of it, and they are committed to finding other ways of paying for things instead of charging it. Yes they are using debt to pay off debt, but this debt has a finite end to it. In 5 years the pension loan will be repaid, each repayment being deducted directly out of their paycheck way before they can even get their hands on it.

And hey, if it doesn't work out.... no worries, life will go on.

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