22-year-old college student blows her $90,000 college fund and blames her parents

[samsamsam]

LOL, this wasn't a troll girl, this was real. The parents bailed this slut out, but at least she got a job. Her life is so hard now that she had to find a 15 hour a week job. Listen to the last clip for the recap, her parents think she learned her lesson because she got a job so they covered the short fall. But sounds like she might be turning it around.

In the last clip, the radio host says, we get to talk to the Millennials all Millennials hate

http://thebertshow.com/she-should-have-enough-money-for-college-but-she-spent-it-all/

 

[eatthishomie]

To be fair it's very easy to spend $90k in 3 years just on basic living expenses if you live in an expensive city like DC. Your living expenses can easily top $2500 a month if you live in a 1 bedroom apt in DC and you only spend money on rent, insurance, transportation, and groceries. $2500 times 12 months times 3 is $90k.

 

[puckerman]

This is why we have strip clubs. She needs to find one.

 

[muscless]

how difficult it has been to find a place that will hire her because she has no job history.

College girls have lots so of experience!

 

[EDantes]

What a joke, she could've paid for a full ride to a state or community college, bought a car and a small house off of that.

 

[C-Note]

I've already told my kids that if I'm paying for their university degrees then they're going to the local community college for two years and living at home, then finishing up with two years at the local 4-year school while still living at home. If they want to go somewhere different, they'll have to get an academic or athletic scholarship or otherwise figure out how to pay for it themselves. Except for the Ivy League, Stanford, MIT, or Caltech, it really doesn't matter where your degree is from. I don't know why parents can't get that through their skulls when they drop shit tons of money on their kids like this for a degree.

Honestly, why does someone think that a degree in business administration from Carnegie Mellon is so much more valuable than the same degree from the University of Illinois that it's worth the extra $100 grand that the degree from the former costs? C'mon people. Use the invisible hand of the capitalist consumer.

 

[samsamsam]

I am thinking of just pouring their money into a trust and let them have it at 40. I won't tell them about it. See if they can develop skills to survive. I'll parent the fuck out of them, but giving kids shit seems to be a bad idea, the more and more I think about it.

 

[R_Niko]

I've already told my kids that if I'm paying for their university degrees then they're going to the local community college for two years and living at home, then finishing up with two years at the local 4-year school while still living at home. If they want to go somewhere different, they'll have to get an academic or athletic scholarship or otherwise figure out how to pay for it themselves. Except for the Ivy League, Stanford, MIT, or Caltech, it really doesn't matter where your degree is from. I don't know why parents can't get that through their skulls when they drop shit tons of money on their kids like this for a degree.

Honestly, why does someone think that a degree in business administration from Carnegie Mellon is so much more valuable than the same degree from the University of Illinois that it's worth the extra $100 grand that the degree from the former costs? C'mon people. Use the invisible hand of the capitalist consumer.

I agree with what you're telling your kids, that makes perfect sense.

The reason people think a fancy name on a degree is worth something is twofold: 1) many of the people that go to those schools come from rich families and so they walk into comfortable jobs after graduating, and 2) from roughly 1950-1980 there was a TON of upward mobility, and from 1980-2000 there was still some social mobility, so it was perhaps possible for middle class or lower middle class individuals to "join the club", so to speak. 1) and 2) combine to create the illusion that these degrees are a worthwhile investment.

 

[C-Note]

I am thinking of just pouring their money into a trust and let them have it at 40. I won't tell them about it. See if they can develop skills to survive. I'll parent the fuck out of them, but giving kids shit seems to be a bad idea, the more and more I think about it.

Well, my Dad did help fund my college education. After I graduated (and got a good job because of the degree) he had a long period of unemployment so I was able to repay him by helping get him through it with some financial assistance. So, at least in my case, my Dad got a direct return on his investment.

 

[R_Niko]

I am thinking of just pouring their money into a trust and let them have it at 40. I won't tell them about it. See if they can develop skills to survive. I'll parent the fuck out of them, but giving kids shit seems to be a bad idea, the more and more I think about it.

Well, my Dad did help fund my college education. After I graduated (and got a good job because of the degree) he had a long period of unemployment so I was able to repay him by helping get him through it with some financial assistance. So, at least in my case, my Dad got a direct return on his investment.

That's the way it's supposed to work, I think the issue is that most parents today pour money into their kids' education and then the kids never become gainfully employed and thus never give anything back.

 

[realologist]

My parents really hooked me up with regards to paying for university. I had a trust they started when I was born. Whenever I earned my own money from 12-18 or got it for a birthday gift, I had to give them half. They would put that in the trust. In the end, all my tuition throughout my entire 4 years was covered by that trust. Scholarships i received went to housing, books, food.

At the time I didn't know it and thought they were just assholes. Really it helped me out a lot and I'm doing something similar with my kids.

 

[RatInTheWoods]

Parents should have controlled the fund and allocated tuition fees and a monthly spending allowance into her account.

 

[BURNΞR]

Could have avoided the entire thing by not going to college. I'm surprised the main stream hasnt caught onto how worthless a college degree is now.

 

[samsamsam]

I probably shouldn't say this - but one of my concerns about kids I do not have yet, is that they are stupid.

 

[mpr]

Depending on what school she is going to, $30k/year is right on the money of out-of-state 4-year college. Even your typical in-state public college fees will run around $20k for tuition plus room and board. Private colleges are closer to $50k.

http://trends.collegeboard.org/coll...ublished-undergraduate-charges-sector-2014-15

http://www.collegedata.com/cs/content/content_payarticle_tmpl.jhtml?articleId=10064

Not saying she was smart with her money or that she isn't an ignorant basic ass bitch, but as sad as it is, $90k will not afford you a 4-year degree with room and board at an average out-of-state public college.

So move to the state you want to go to school at, work for a year, and get in-state tuition. Or go to community college for the first two years which is drastically cheaper. Or join the military and have uncle sam pay for it afterwards. There are a lot of options.

 

[Prince of Persia]

I probably shouldn't say this - but one of my concerns about kids I do not have yet, is that they are stupid.

This chick is certainly no Einstein, but I mostly blame the parents in this particular circumstance. Just make sure to teach your children the value of a dollar.