A Misconception about Marriage

[Francisco d'Anconia]

In many states a student can go to a state college or university for extremely little money. Often times he/she can commute as well to cut back on expenses. I worked part-time throughout college and made enough to cover my car insurance, gas, and "beer money." I'd save up all summer long, too.

The other option, which is really a test of the student, is to attend a community college, get excellent grades, and then transfer after two years. If a student works their butt off they can get a great scholarship when transferring and go to a great college. There are ways to do it with little or no help from parents.

You're absolutely right.

 

[Latinoman]

It's VERY easy. All you need to do is be self sufficient. In other words, not allow the parents to support the child (this includes using the child as a tax deduction). It's best if the child has a separate home address but if they live at home they should pay some form of rent AND (this is most important) NOT divulge ANY parental information. That's it, no special forms to fill out (except standard tax forms, and I suggest using the long form to gather even more benefits).

Thanks!

My daughter is a Junior. Just collecting enough information.

Now the "standard tax forms" are the ones for the kid (working or not)? Correct? (e.g. not MY or my Ex-wife's tax forms).

 

[lee36044]

So jumping into the Information Age and the mindset of businesses today, would a man (no matter his age) still have these benefits if he gets married in today's time? Mind you, I'm not talking about bypassing commitments altogether, just the act of actually getting married.

Actually yes. It depends on your career path but I've found far too many business executives to be extremely conservative. Almost universally , being married with a wife and possibly children to support is taken as an indicator of stability. One which can often offset youth and sometimes inexperience when it comes to forwarding a career.

 

[wayword]

Me, I was earning $40k by my sophomore year, given I had worked in my industry for two years prior to college (gotta love those public school work study programs).

Work-study programs are hard if you have a difficult major. Also, $40k is VERY high even for a work-study, internship or co-op.

Most of the college kids I know working through school are doing near-min wage gigs - and their grades are also suffering for it or they are not in the most difficult majors.

 

[Latinoman]

Actually yes. It depends on your career path but I've found far too many business executives to be extremely conservative. Almost universally , being married with a wife and possibly children to support is taken as an indicator of stability. One which can often offset youth and sometimes inexperience when it comes to forwarding a career.

Those same "business executives" are about to become extint within the next 10 to 15 years. Especially with today's China, Japan, India, and the European Union merged into this global market.

And then what?

 

[Latinoman]

Work-study programs are hard if you have a difficult major. Also, $40k is VERY high even for a work-study, internship or co-op.

Most of the college kids I know working through school are doing near-min wage gigs - and their grades are also suffering for it or they are not in the most difficult majors.

I strongly suggest a Coop (summer like) program if you are into science and engineering.

A work-study program is almost a killer for engineering program students as I personally view them as one of the hardest undergraduate programs.

 

[Francisco d'Anconia]

Thanks!

My daughter is a Junior. Just collecting enough information.

Now the "standard tax forms" are the ones for the kid (working or not)? Correct? (e.g. not MY or my Ex-wife's tax forms).

Stay away from the 1040EZ and stick with the 1040A, you miss out on TONS of deductions that aren't even addressed (including the purchase of tax deduction software). Things that she uses for her job/college search can be written off. It's SO beneficial to teach your kids these things now so that they can learn how to manage their money.

Here's a link that will help her on her search for scholarships AND employment!

http://www.fastweb.com/

 

[wayword]

I strongly suggest a Coop (summer like) program if you are into science and engineering.

A work-study program is almost a killer for engineering program students as I personally view them as one of the hardest undergraduate programs.

I totally agree. You simply CANNOT work-study if you are in Engineering. It is hard enough to pass all the classes full-time alone. You will be short on time AS IT IS. Co-oping is great, though.

 

[Latinoman]

Stay away from the 1040EZ and stick with the 1040A, you miss out on TONS of deductions that aren't even addressed (including the purchase of tax deduction software). Things that she uses for her job/college search can be written off. It's SO beneficial to teach your kids these things now so that they can learn how to manage their money.

Here's a link that will help her on her search for scholarships AND employment!

http://www.fastweb.com/

Thanks man! (I use the 1040A as I owna home and so does her Mom).

 

[Francisco d'Anconia]

My college keeps saying I need to be 25 to be self sufficient. If I convince my parents not to put me on taxes, I can get away with this? (I am already paying for my own school as it is)

What grants to I apply to then? What scholarships?

That's just plain BS, leave it to a college in Minnesota to tell you that. What if your parents are dead, what would your options be? This is not a loop hole. Every US citizen has the right to get an education, it doesn't matter who pays for it. There are more opportunities given to people who need help to establish themselves. Ever wonder why immigrants seem to do so well here?

The problem with Americans not being wealthy is because they are learning from institutions who have no idea on how to make money outside of pulling the coattails of alumni and big business (trust me, I know). Trust me, learning what's truly available to students will expand your opportunities exponentially!

Now, as for taxes, as long as you submit your own 1040 you are claiming yourself as an exemption and NO ONE ELSE can claim you on their forms. To seal the deal, if your primary residence was not their house, they can't claim you.

Now understand what that could mean to you, no more support (free meals, lodging, car and/or insurance) provided by your folks. They can choose to cut you off if they can't claim you as a dependent.

 

[Francisco d'Anconia]

Work-study programs are hard if you have a difficult major. Also, $40k is VERY high even for a work-study, internship or co-op.

I don't know, I had four years of paid experience when I started making $40k. It was a white collar job. I was also going to school full time. You'd be surprised at what you can find if you truly look for it.

 

[wayword]

Look people, there's no free lunch.

Let me simplify college for you all.

You either have to be:

a) Smart & hard-working
b) Rich

So, if you are poor and want scholarships, you better have a BARE MINIMUM GPA of 3.0. That is the standard cut-off for most scholarships.

If you are dumb/lazy & poor...well then frankly you're screwed and don't deserve to go to college anyways... Which is not the end of the world either - as you can become very successful WITHOUT a degree as well (odds are just worse).

 

[lee36044]

Those same "business executives" are about to become extint within the next 10 to 15 years. Especially with today's China, Japan, India, and the European Union merged into this global market.

And then what?

Absolutely no tangible benefit at all if it really works out that way.

But keep in mind that even after the conservative executives are all gone ... they leave a legacy of company policy and subordinates with the same ingrained attitudes despite their own personal beliefs. And we aren't in China, Japan, India, or the EU. Case in point, the nudity taboo in American media and society in general! Despite much looser standards in several of the countries mentioned, for many years, those atitudes have yet to penetrate our society with any noticeable success.

So until our society is also fully purged of these conservative views, the blatant fallacy of "married = stable" will continue to be a factor when advancing a career in many of the more stratified business environments and especially in some of the most conservative regions of this country.

10 to 15 years will probably see the beginning of the death of this attitude ... but we were talking about the present weren't we?

 

[Francisco d'Anconia]

I actually feel bad for you because you worked in the same type of corporate environment for 4 years before you even graduated. Fvck that noise, it's not like after college you didn't find another job that would pay you 40k! Go life your life damnit, enjoy it! Do things you want to do (well, if you have some money I guess)

Dude, I was 19 years old and making 40 grand a year! What wasn't there to enjoy??!! You're still in school right? If you aren't making $40k a year, wouldn't you like to?

 

[Francisco d'Anconia]

Yeah, I can imagine the adventures that you're having while bartending. It reminds me what I doing in school while I was working. Bought my first car, a Camaro. Partying on Rush street in Chicago after work on Friday or going to watch Jordan play at the old stadium. Being able to go home to my own apartment with a friend in tow not having to worry about having a obnoxious roommate or trying to sneak her out before my parents woke up. Hell, she could stay the weekend if all I cared. Flying down to New Orleans for the week of Marti Gras. Picking up hotties and impressing them by easily getting the bartender's attention by waving a $20 tip at him without flinching. Yeah, it brings back memories. But hey, tomorrow's the first weekend of the new year and there's a bunch of new clubs to check out!

 

[Latinoman]

$40,000 twenty years ago? I bet that extrapolate to nearly $60,000 today. A 19 year old college kid making that amount of $$$ is literally FREE (if he can deal with the educational workload).

 

[Francisco d'Anconia]

$40,000 twenty years ago? I bet that extrapolate to nearly $60,000 today. A 19 year old college kid making that amount of $$$ is literally FREE (if he can deal with the educational workload).

Your figures may just be right given it was in a major metropolitan area. Now mind you I was working at least 50 hours a week while carrying a full courseload. I envy kids today who's parents allow them to live at home without any obligations (financial or otherwise) during college..... NAHHHHHHHH.............

I seriously doubt that I would be as successful if I allowed them to take care of me during my early adult years. Ain't nothing going to make a man grow up quicker than having to pay his own rent or mortgage (aside from going to war).

 

[Francisco d'Anconia]

Well, why go alone? I have three girls who wanted to come to spin or karma tonight, but I got a buddy over who is teaching me how to make my own music.

One day we will meet, but I don't think right now is the time

(Just don't die too soon old man)

Oh I plan on being around for a LONG while...

 

[azanon]

misc

To put in my 2 cents on the paying/not paying for college thing, man you guys are tough. I sat up a 529 plan for my little one with a modest, automatic deposit on a monthly basis that I hardly notice; no jeopardizing the retirement funds here. Lets see, I make real money and he's in preschool. Hmmm who's in a better position to plan for paying for college? Boy that's a hard one! And what's his chance of getting a need-based scholarship from a family with a six-figure income?

I can't think of a better way to start one's child out on the wrong foot than to load him down with college debt or worse, force him to get "stuck in Iraq" because he couldn't afford to go to college and had to GI Bill.

You guys just gonna give your flesh and blood the boot (out the door) when they hit 18, and say "good luck out there!" Cold, just cold. If you ask me, successful families stick together.

Remember too, what comes around goes around. You'll be old someday.

Azanon

 

[Francisco d'Anconia]

...
I can't think of a better way to start one's child out on the wrong foot than to load him down with college debt or worse, force him to get "stuck in Iraq" because he couldn't afford to go to college and had to GI Bill.

You guys just gonna give your flesh and blood the boot (out the door) when they hit 18, and say "good luck out there!" Cold, just cold. If you ask me, successful families stick together.

Remember too, what comes around goes around. You'll be old someday.

How about teaching them how to be self sufficient? To understand how the system works and fend for themselves. To teach them the skill of self sufficiency which they can pass down through many generations.

If you are active in your child's life by not just buying their love but teaching them how to be productive adults, they will be more than anxious to go to university on their own using the skills that you taught them. The thing that makes a boy feel most like a man is his ability to take care of himself and if he's good, to do even better than his old man. Nowadays this even holds true for young women.

This isn't the industrial age anymore, successful families don't stick together in this manner. They're too busy forging their own path. On the flip side, unsuccessful families need to stick together in such a way as to take care of one another. This is possibly why there are parents counting on their children to take care of them in their own age. It will probably be easy if their kids move back home with mom and dad after graduation because they don't know how to find a job.