Special offer

Spring break is coming...Does your child have the money to go?

By
Real Estate Broker/Owner with WHISPERING PINES REALTY 20398180

Talking with a friend, his daughter will have $45,000 in student loans this year when she graduates.  He was complaining about the high cost and I will say it does cost a lot.

But, what he doesn't know is that his daughter has gone to spring break every year and used loan money to pay for it.  The least amount that she has spent for spring break is $3500.  THAT IS THE LEAST!!

Now, I am not saying that they should not have some fun...bet let's be real.  As an adult, I don't spend $3500 or more on a vacation where I have to put it all on credit.

I have heard of some people saying that many of the loans should be forgiven.  I don't agree at all.  But there are some ways to cut down on debt at graduation.

One is when a student gets a loan...they don't get the money!  They get a card, like a credit card with the money and it can only be spent for learning needs.

Books, rent, food PLAN!  Lap top.  ect.

Not spring Break, parties, booze  and dates.

If student loans we controlled more...the debt at graduation would be far less for most than it is now and tax payers would not be footing such a large bill!


Remember, most of these young adults hardly know how to handle a check book let alone Thousands of dollars at their disposal all at one time.

Comments (6)

Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Bill...I count myself among the lucky parents - my son's loans are paid directly to and for the school only...he dosn't have access to the funds. If sure if he did there would be beer and sunblock added to his tuition.

Feb 16, 2013 03:43 AM
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Steve...I am not saying that the kids are bad, but, i was young once also and sometimes we need to protect them from themselves.  

My Step son worked all through college.  My wife and her late husband paid only for the living quarters.  He graduated with less than $5,000 in loans.  He worked one year, living on his own, went back and got his masters and worked all through that time and still had less than $8,000 in loans.

I give him a lot of credit as he had a goal  and when he got out of college he bought a very small home right away.

He said he had all his loan monies paid directly to the school suppliers.  Otherwise...he said he would have had more debt when he graduated also.

Feb 16, 2013 04:09 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Does the father know his daughter is paying for vacations with her student loan fund? When I was in school, I had to pay for anything fun with my own money. I had a part time job to help pay for these extra expenses.

Feb 16, 2013 08:21 AM
Richard Weisser
Richard Weisser Realty - Newnan, GA
Richard Weisser Retired Real Estate Professional

Bill...

Yes, many students borrow "living expenses" and as you said, they do some pretty high living.

Feb 16, 2013 10:35 AM
Vern Eaton
Askov, MN
Realtor 651-674-7449

Bill, I agree. I know many friends who have kids with large loans and always went south for spring break.

Feb 16, 2013 11:08 PM
Randi Brammer
Randi Brammer, Acctg. - Hinckley, MN
Accountant & Tax Preparer

I always wondered where the kids ge the money to go.  Not really a smart thing to do.

Feb 18, 2013 12:01 AM