Student Loans for your kids

[Baron Winnebago]

I'll "black helmet reaction" myself by replying to my own post, but please also keep in mind what will be coming in your future. Do you have more kids that you'd like to help with college? Do you currently have an awesome credit score that will be hurt by co-signing your eldest's loans? Do you want to buy or build a better house? All of these things should be considered.

If you co-sign private student loans, you are 100% signing up to own the debt so far as credit rating companies and banks are concerned. Your debt-to-income ration will include those loans 100%, even though your daughter is the primary borrower. If you want to buy a new house or take out a home-equity line of credit to remodel or add on to your current house, you'll likely be offered higher interest rates due to higher debt-to-income ratio.

If you are confident that your family income will continue to grow, and that your daughter will be fiscally responsible while in college, you do one thing. If you think your daughter might see your financial contributions as guaranteed, do something different.

Financing college or any higher education has gotten way more complicated the past 30 years. UNL tuition increased from $72 to $155 a credit while I was a student, and then they added a per-credit surcharge of $50 per credit for business and engineering students a few years later.

Good luck.

In brief, trade school is basically orthodontics

 

[HuskerPAC]

Dental school is EXPENSIVE. Not dissuading at all, but all of my dental friends from undergrad are minimum $300k in debt.

 

[Blackshirts_Win_'ships]

Dental school is EXPENSIVE. Not dissuading at all, but all of my dental friends from undergrad are minimum $300k in debt.

Expensive and more difficult to get into than medical school. But the payoff typically works out...just takes time. Much much better than being a PC doc.

 

[HCFord1]

Glad to see we don't have any anti-dentites in here.

 

[SoCal_Corn]

Kids?

 

[sexmonster]

Glad to see we don't have any anti-dentites in here.

Dentists are killing themselves at record numbers because they are mentally ill. God be with you if you are one, HC. You're a good egg. Ignore the voices in your head when they inevitably come.

 

[sexmonster]

Anyway, on student loan matters...

Joe Biden was asked in his town hall if they will be going after $50k debt relief. I'm told he said no. Flippy floppy. In other news, Uyghur enslavement by Chinese is just a cultural norm and we should not judge. Thought I'd throw that in

 

[Blackshirts_Win_'ships]

Anyway, on student loan matters...

Joe Biden was asked in his town hall if they will be going after $50k debt relief. I'm told he said no. Flippy floppy. In other news, Uyghur enslavement by Chinese is just a cultural norm and we should not judge. Thought I'd throw that in

He wants Congress to do their job. He's been quite consistent on that, actually.

No commento on the second part, as I prefer to stay out of prison.

 

[HCFord1]

Dentists are killing themselves at record numbers because they are mentally ill. God be with you if you are one, HC. You're a good egg. Ignore the voices in your head when they inevitably come.

I am not a dentist, nor am I dentist-adjacent. If I kms it'll be Husker football related.

 

[sexmonster]

I am not a dentist, nor am I dentist-adjacent. If I kms it'll be Husker football related.

Good news buddy...Corch Frost has some special sauze for the B1G west. It's white, sticky, and a little icky.

 

[HCFord1]

Good news buddy...Corch Frost has some special sauze for the B1G west. It's white, sticky, and a little icky.

Suddenly I'm kinda jealous of the B1G West...

 

[nscottie]

She's going to be an Orthodontist.

Good for her but just some advice. I’m a retired pediatric dentist. Orthodontics and endodontics are not what they used to be. With the advancement of Invisalign, a lot of people are simply letting their general dentists take care of their needs.

Not saying I necessarily agree with that, but Invisalign is much less skill involved than traditional orthodontic work.

Another thing I would throw out there is looking at the military. They have excellent dental graduate programs. Some they do in house, others they fund you through private or public universities.

Obviously, there is a payback in service, but you are debt free.

 

[jaihawk]

Good for her but just some advice. I’m a retired pediatric dentist. Orthodontics and endodontics are not what they used to be. With the advancement of Invisalign, a lot of people are simply letting their general dentists take care of their needs.

Not saying I necessarily agree with that, but Invisalign is much less skill involved than traditional orthodontic work.

Another thing I would throw out there is looking at the military. They have excellent dental graduate programs. Some they do in house, others they fund you through private or public universities.

Obviously, there is a payback in service, but you are debt free.

Appreciate the feedback there. If I could get her to go the enlistment route, I would. Heck, I think that most kids should go that route.

 

[Alcaus]

If you’re pushing your kid to go to a 4-year college you better be willing to co-sign the fucking loans.

Otherwise, I’d push for the Community College route to get the pre-reqs out of the way before going on to a 4-year degree program and then post-grad.

 

[nscottie]

Appreciate the feedback there. If I could get her to go the enlistment route, I would. Heck, I think that most kids should go that route.

No problem. Just a couple of things snd then I will drop it. Over the course of my career, I have seen the rise and fall of orthodontics. As I said, Invisalign has been a game changer that doesn’t require the skills of an orthodontist. My best friend just retired from his 45 yr ortho practice. He will tell you the same.

If I were to advise your daughter on a dental speciality, I would encourage either pediatric dentistry or oral surgery.

Pediatric dentistry is something most general dentists don’t want to deal with. It’s a lot quicker to deal with a cooperative adult that a scared kid. We also deal with mentally challenged adults with special needs. Both are very rewarding.

The other specialty I would recommend is oral surgery. Very lucrative practice and typically requires much more skill and training than that possessed by a general dentist. For that reason, you tend to get a lot of referrals.

 

[Jim14510]

But the payoff typically works out

It can be decent. Average is about 150k.

I do know a pediatric dentist that is absolutely killing it. Bunch of dental assistants. Big open room. Kids flowing through one after the other.

 

[ThomOsborneMD]

Expensive and more difficult to get into than medical school. But the payoff typically works out...just takes time. Much much better than being a PC doc.

Most adult PC docs make 200-220k a year FYI. Someone posted that dentists average 150k. Average out the residency years and idk about “much better”

 

[SantaBarbaraSker]

New to this whole thing... My oldest daughter graduated high school mid-term and we've got her taking 9 credit hours at SCC before she starts UNL in the fall. She's gotten 2 small scholarships so far $2k/year for four years. She has applied for a ton, but hasn't heard anything back yet. She's mixed (half white/half black) so we've applied for every minority scholarship under the sun hoping she'll get something there.

I lieu of her still coming up short, what are our options? It looks like Parent Plus loans are the first option they throw out at you, but I'm not a huge fan of that being under our name and us being on the hook for it. Are the private loans like Discover, SoFi, etc... worth a darn? Sounds like you can cosign with those.

When my daughter first informed me that she wanted to enter college with the ultimate goal of attending medical school and eventually becoming an MD, I told her she would have to take out loans, and only if she graduated as an MD would I pay them for her. If she dropped out or switch to some worthless degree, she would be stuck paying them all herself.

Well, she called my bluff and graduated as a medical doctor two years ago and I now have $400,000+ in student loans to pay.... damned if I didn’t underestimate her desire to stick it to me. 🤣





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[Jim14510]

Most adult PC docs make 200-220k a year FYI. Someone posted that dentists average 150k. Average out the residency years and idk about “much better”

I would be very surprised if its harder to get into dental school than med school either. I actually know some dentists that don't make 6 figures with their own practice. I don't know any doctors under 200k.

 

[Blackshirts_Win_'ships]

Most adult PC docs make 200-220k a year FYI. Someone posted that dentists average 150k. Average out the residency years and idk about “much better”

You're buying next time then, Thom.