Showing posts with label college loans. Show all posts
Showing posts with label college loans. Show all posts

Sunday, April 28, 2024

Should I pay your child care costs?

The TV (Spectrum) was on in the background, but all I heard was not only am I supposed to pay their college loans, but I need to pay for their mom and dad's cost to go to work by paying for child care for their little ones.  Governor announces details on Child Care access program (spectrumnews1.com)

Let's think about this. I didn't have any college loans to pay back at high interest rates, and I didn't have any daycare costs because I didn't go back to work as a librarian until my kids were in school, and then only part time so I was home when they were. Many parents don't pay these costs--except for other's kids. Maybe they juggle schedules with a spouse or drop the kids off at Grandma's, or wait like I did. 

I have 2 female relatives who run a daycare in their homes so they can raise their own children, and they earn much more than they would if they were employed outside the home. Why? Daycare can cost from $27,125 a year in CT to $14,813 in SD. Teachers according to BLS make $71.93 and hour and nurses $72.48 (figures include benefits). Sounds like a lot of money unless you have child care costs that the Governor of Ohio wants me to help with.

I can hear the screams now. But you lived in ancient times (1980s) and probably only had one car, one TV and no contracts for internet, cable, phone, and never went out to eat at 5x what it costs at home. Yup. And now that I can afford not to work (because I saved and invested the maximum allowed when I did work), and can afford a pedicure, a cleaning service, a vacation, and someone to do home repairs, I'm supposed to pay off someone else's living expenses so she can be a wage slave at a salary I couldn't have dreamed of. Check the BLS figures.

Update:  When AI (Copilot) started giving me vague responses like consulting a government website, I wrote: "If I wanted to spend hours looking at government sites I wouldn't be asking Copilot." So it apologized and gave me more specifics. Is it OK to be rude and snarky for something that isn't human and just a collection of data and pixels? Does the Bible cover that?

Friday, February 12, 2021

Paying the college loans for those who signed for them

I worked at the local public library and the drug store when I was in high school.  In summers and during the school year in college I worked various part time jobs--usually the college library.  My parents provided most of the cost going without since 3 of us were in college at the same time. Dad would have considered it an embarrassment to take money from the government. Then when I got married during my senior year, my parents provided me with a loan which we paid back in a year or two. 

College education costs became a huge bubble since those days (1960s), worse than the real estate bubble of 2007-08, and mainly because the government flooded the colleges with loan and grant dollars. The colleges and universities just raised tuition and built more buildings and cut back state support. Academe has continued that bad planning by luring young people away from those colleges that could have benefitted them in order to meet federal requirements for minority enrollments. And with slight of hand academe "counted" foreign students whose governments were paying for their educations in their minority quotas.  The American minority students took on loans they could never pay back and never got those good jobs without the degrees they were promised. This is what happens when we think someone else will pay, and since it isn't the government's money, they just throw it at anything and anyone that moves.

There is no free lunch.