rmd: (Default)
[personal profile] rmd
my company, upromise.com, is looking for a senior sysadmin. we're also looking for a dba and some other jobs.

if you're interested, shoot me your resume here and i'll forward it on to the right people.

Date: 2005-12-06 07:09 pm (UTC)
From: [identity profile] catness.livejournal.com
I don't think anybody has it backwards. It's just that "paying for the actual education" is an incredible financial burden which parents often choose to take on for their kids, and it's gotten to the point that working/paying for your own education while going to school isn't as fiscally feasible as it once was. Not everybody is scholarship material. The way I understand it, upromise is saving for the education itself, not for the honeypot after graduation.

Date: 2005-12-06 07:13 pm (UTC)
wotw: (Default)
From: [personal profile] wotw
But...but...but...

It's still the case that if the kids go to college, the total pot
(parents' income plus kids' income minus education costs) is going
to be bigger than if they don't go.

With a bigger total pot, everybody--both the parents and the kids--
ought to be living better, starting now. If there's going to be
money in the future, you don't want to wait till the future to start
spending it.

When the total pot is smaller---that's when everyone should be scrimping
and saving.

Date: 2005-12-06 07:31 pm (UTC)
skreeky: (Default)
From: [personal profile] skreeky
I'm still trying to wrap my mind around your world where parents save up to support their children after they are no longer in school, so they can live beyond their own means.

Wow.

Date: 2005-12-06 07:37 pm (UTC)
wotw: (Default)
From: [personal profile] wotw
You don't think giving them a college education is a way of supporting
them after they're no longer in school?

Date: 2005-12-06 07:38 pm (UTC)
skreeky: (Default)
From: [personal profile] skreeky
No, I think it's giving them a tool to use in order to support themselves.

Date: 2005-12-06 07:37 pm (UTC)
skreeky: (Default)
From: [personal profile] skreeky
Clarification:
where parents save up to support their reasonably healthy, functionally intelligent, and able-bodied children

I mean, it's the difference between "I'll buy you a hammer" and "I'll pound your nails in for you for the rest of your life."

Date: 2005-12-06 07:43 pm (UTC)
wotw: (Default)
From: [personal profile] wotw
Suppose I make you an offer: Give me a dollar, and I'll give ten
dollars to your kids. Would this make you feel richer or poorer?

Surely it must make you feel richer. You can, if you want, let your
kids keep the ten---or you can negotiate with them and say "If I do
this I want five back". That's up to you. But your family as a
whole is richer now, not poorer. That means you need to save less.

College is an offer just like that: Give us money now, and we'll
give your kids a whole bunch more money back later. You can split
the winnings with your kids any way you choose to negotiate, but the
bottom line is that you just got richer and the pressure to save
should be reduced.

Date: 2005-12-06 08:07 pm (UTC)
skreeky: (Default)
From: [personal profile] skreeky
Well, let's scale that. "Give me a dollar"... that scales to I make about one dollar per year to pay for everything I and my family need that year... and you don't get why people have to save up to get that lump sum dollar?

"Give me a dollar, and I'll give ten
dollars to your kids"
"I don't have a dollar."
"Oh. Well, sucks to be you."

Date: 2005-12-06 08:33 pm (UTC)
wotw: (Default)
From: [personal profile] wotw
If I'm going to turn your dollar into ten, you should be
borrowing the dollar, not saving it.

Date: 2005-12-07 09:44 pm (UTC)
drwex: (Default)
From: [personal profile] drwex
That presumes that such a level of borrowing is possible.
Remember that most of these parents are mortgaged up to their eyebrows and running high levels of credit card debt already. They simply don't have the wherewithal to borrow the quarter- to full-million it'll take to put the kid through. Sure, in an ideal world you're right, borrowing pays off in the long term. But in the real world such cash flow isn't always (or even very often) possible.

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