Saturday, October 19, 2013
October 18 - Online Discussion Question 3
Jorge is debt free except for his mortgage and has an 8-year-old son named Carlos. He could save money if he wanted to, but so far he hasn’t saved a dime for his son’s college education, and he isn’t going to do so. He pulled himself up by his bootstraps, and he thinks Carlos should too. He wants Carlos to go to law school, which he would’ve done if he’d had a choice. How can you change Jorge’s mind?
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If he were to apply for FASFA he might be able to get some help from the government, he should also start an ESA account for his son because it grows tax-free. When Carlos is older he can take the SAT or ACT and get scholarships that way if he scores high enough.
ReplyDeleteI appreciate Jorge's desire to have his son work for his education, and not just giving it to him. However, it would be a good idea to have some money saved up to help his son through college. Jorge doesn't have to pay for the whole thing, but it would be a great blessing to his son to realize that his dad supports him through a monetary gift to help him through college. If Jorge decides that he wants to save some money for his son's college fees he should open up a Educational Savings Account (ESA). Also he should encorage his son now and later to do his best. Later Carlos can apply for a FASFA or other scholarships.
ReplyDeleteI'm on Jorge's side. You can always work in high school, or work for a year after high school. Plus great grades and test scores help with scholarships. Don't you think you'd appreciate your education even more if you, yourself, worked for it and earned it?
ReplyDeleteyour son is not you he may have different dreams and making him work for an education is good but if you have the resources to help then help even if its not a lot it is still something
ReplyDeletetravis
Agreed, so what are some things that Jorge can do then?
DeleteJorge makes a good point, but it isn't necessarily up to him to make up his son's mind of what he wants to do.
ReplyDeleteIt would also be a fantastic gift to Carlos if his dad helped pay even a small amount.
Autumn
I think that Jorge should encourage his son to work hard, to score well on the ACT or SAT, to keep his grades up, and to save money by getting a job, when he's old enough. Even so, I think that Jorge should open up an ESA account and save some money for his son, especially since he wants his son to go to law school which is expensive. He doesn't have to pay for his son's college completely, but it would be nice if Jorge provided his son with something to give him a jump-start towards paying for college.
ReplyDeleteI think that it is not too late to save or find help. The government will help if grades are good. He can also invest his money because it is more then five years before his kid goes to college. And another thing is that I think that Jorge is trying to live his life through is child's. The child should chose where he goes not the father.
ReplyDeleteadam
Jorge is right that his son can do this on his own but it would still be good if Jorge could help him even if it's not much. Opening an ESA for his son would be a good start.
ReplyDeleteeyezik
Jorge should let his son decide what for and if he even wants to go to college. If his son does want to go to college, then he should at least put a little bit of money in an ESA account. Once his sone is in highschool he should encourage him to get a job.
ReplyDeleteI think he should pay off his mortgage. I think it is good to have his son pay for college but since his son is young he could at least start a small investment for him. He should also encourage his son (when he gets older) to get a job, work hard at getting good grades and try to get a scholarship.
ReplyDeleteI don't think he should be making his son do something he might not want to do... he should support whatever his sons dreams/decisions are... although it would be a good idea to have some money set aside for collage, if his son does decide to go...
ReplyDeletei think he should save some money for his son's education if he can afford it but he doesn't have to pay for the whole thing plus his son might not want to go a lawyer.
ReplyDeleteHe should save some money for his son's education if he can afford it, and his son might not want to be a lawyer, he might want to be a writer....
ReplyDelete