Financial Planning Spinoff: Knowing What You Know Now, Would You...

[klacey1]

Nope, I 100% would have chosen a different school in order to minimize loans. I was a first-generation, poor kid at a rich kid school with zero support for helping students understand what it meant to pay for school. It just wasn't necessary for the vast majority of kids. All of my friends' parents, including the SAHM, had degrees and could all pay for their kids to go to whatever school they wanted in full.

I was too image-conscious to go to a state school, which would have meant much lower student loans, and too unaware to research private schools that fit me academically that also met full financial aid without loans/with small loans.

I work in higher ed now and have knowledge about schools and programs that make college affordable. I had great grades but zero financial smarts when I was a senior in high school. Every time I make a student loan payment, I kick myself for choosing a school that cost way too much money and had zero bearing on my career.

 

[StacyStrong]

For undergrad, I would have stayed in state. For law school, I would have taken out less loans and tried to have been (more) frugal.

 

[mjkacmom]

My parents paid for me to go to public OOS college for my BA in English, and for most of my masters in special education at a public in state college. DH’s company paid for his MBA at NYU, he finished 2 weeks before out twins were born (#4 and #5). I ended up as a SAHM, I’m so glad he squeezed in his MBA.

 

[tvguy]

I graduated in 1979. I wouldn't change a thing about College. I went to a private university, tuition room and board came to $4,000 a year. My dad passed away when I was 9 so I got $400 in Social Security and $50 in VA survivor's benefits a month which was more than enough to cover my costs, so no student loans

 

[starry_solo]

No regrets on either, although I do regret not studying as much as I should have....I could have gotten into a "better" grad school, but then again, who knows what my life would have been?!

 

[FastPasser.]

College was not for me, I had no desire to attend. I went to work right out of high school. I was successful enough to be able to retire at age sixty. I then took on a part time retirement job at WDW just for fun, and it really was. After becoming vested with the Disney Company I retired for real last year. I have a great life now with no money worries. Would I do it again? It worked real well for me but it's not for everyone.

 

[ronandannette]

Sure, I guess. I finished university part-time as an adult; pay-as-you-go with some tuition sponsorship from the employers I had during that time and some help from my parents. I didn't incur any debt. I got a BComm with a economics major. I have never worked in a directly-related field, nor do I ever expect to at this point.

 

[Pea-n-Me]

My kid are doing it now pretty similarly to how I did it, so no, I wouldn't change things, really. Their experiences are probably better than mine because of the mistakes I made. They had much more guidance and support than I did, but it's all good.

 

[firefly_ris]

I would have skipped college, not really needed in my line of work and none of my clients or employers have inquired about a bachelor's degree - just a portfolio and recommendations. But my parents felt it was necessary and I didn't really know at the time.

[ETA] but I don't regret the way I did do college - 2 years community college first then transferred to a local University to finish up, and I lived at home and commuted all 4 years.

 

[soccerdad72]

I would have done two things differently in hindsight:

1. Take the AP Calc exam in HS - I chose not to sit for the exam and regretted it, as it would have allowed me to skip AP in college.
2. Using the 8 credits freed up in my schedule, I would have been able to finish my minor in Computer Science, which I would have utilized quite a bit in my early career (IT Auditing).

 

[SC Minnie]

My parents were paying for my college. My first choice from a rather expensive private school. I chose a smaller public school at less than half the cost. I don't regret that decision. I graduated 30 years ago this year.

 

[NYCgrrl]

I choose my major and colleges with eyes open and having a good idea of what I would do it. Original plan was to be a pastry chef; Baking 101 proved that wasn't going to happen but I'd still an interest in other aspects of the program. Attended two community colleges that were well regarded in my chosen fields that allowed me to combine my credits for a BA. The money was well spent and quite reasonable in cost (about $700 per semester at the time).

I then transferred to an upstate private college that was under the auspices of a state university at a cost of approximately 7K per year after scholarships and a grant. That money paid for my MA and a few classes that were not accepted during the transfer from the community schools.

I 'm glad I spent the money and felt it and the overall experiences helped to make me a better person. Over the years I left the hotel and restaurant business but was able to take the knowledge into other fields and open my own business.

With the exception of 1 year of my father's SS payments and funds he left me via his life insurance, I paid all costs myself.

 

[Moliphino]

Aside from the financial aspects of my college choices, deciding to go away to school the best thing for me. I was a shy homebody and I still don't know what possessed me to think I could go 1000 miles away for school, but I am incredibly glad I did. The first year was rough, but by the end of sophomore year I was able to go to France for three months (GT has a campus there, I did the summer program) and had an amazing time. It really did wonders for my independence and broadened my horizons so much. I wouldn't change that for the world.

 

[skyblue17]

Aside from the financial aspects of my college choices, deciding to go away to school the best thing for me. I was a shy homebody and I still don't know what possessed me to think I could go 1000 miles away for school, but I am incredibly glad I did. The first year was rough, but by the end of sophomore year I was able to go to France for three months (GT has a campus there, I did the summer program) and had an amazing time. It really did wonders for my independence and broadened my horizons so much. I wouldn't change that for the world.

Yes! I didn't go as far as you but I was also a homebody and being away from home for the first time was HUGE for me. I became so much more independent and self-confident. The first semester was really hard (luckily I was close enough that I did visit home one weekend a month) but by the second, I had started to find my way and my people. It opened my world in a huge way and is definitely the most valuable thing I took away from college.

 

[RedAngie]

I don't regret choosing to go to my state's main public university and would likely make the same choice again.

I really had no intention of getting a Masters degree, but my employer covered about 90% of the costs, so I did so later in life. It took about 9 years to finish.

 

[bjscheel]

I probably wouldn't change anything either. I started at a private college and had a lot of scholarships, especially for the first year. My parents paid but by end of sophomore year they were getting tapped out. After sophomore year I got married and finished the rest commuting to night school on my own dime. Borrowed $4000 in all, mid-1990s.

I really enjoyed my two years away at school, and I liked my night school too. Got to experience both types of school and not spend a lot.

 

[Mackenzie Click-Mickelson]

Yeah no regrets for me either. I guess the only thing I could have feasibly say is I could have opted to take another course or two at the Community College during the summer or so but that would have also had the downside of impacting my availability for work.

I only took a math course and my bio course and bio lab at the Community College over 2 summers other than while in high school I was considered a dual student as I was taking French in high school as college credit through a program my high school had. By doing so I started college credits ahead though that didn't really impact things overall.

What I will say is my alma mater since I have graduated has taken stock in just how much credit hours should be required to graduate and has reduced it. Various departments and programs have also done this.

Looking at it the College of Liberal Arts & Sciences within my alma mater in 10 years has reduced the number of credit hours by 4 from 124 to 120. Doesn't seem like a lot but that can amount to something especially given how much per credit hour the tuition has gone up even at what is considered a very affordable college. My husband's arena has done more. In the 9 years since he's graduated they've reduced the School of Engineering (B.S. degree) for Aerospace from 137 when he graduated to 129 credit hours; most of that coming from elective requirements so in essence becoming even more specialized information than he had.

 

[bethbuchall]

The way that it worked out overall means that I probably wouldn't change anything, but I definitely changed my attitude and guided my children in a different direction. The first two are out of college and in the workplace and are doing very well. #3 is still in college, but I think that he's also headed in the right direction.

 

[monarchsfan16]

I will always wish I could have done grad school differently, but I don't regret how I did college/grad school from a financial or career standpoint. The decisions were painful, but I made the right choices.

For college, my parents were able and willing to pay the equivalent of the state school cost for undergrad. All of the schools I applied to gave me enough in merit scholarships to be within their budget, but I ended up at the state school. This was absolutely the right choice for undergrad. My career (speech-language pathologist) requires a Master's for certification/licensure, so it was straight to grad school for me. I finished undergrad in 2009, so the height of the recession. Most of the schools that were in places I was willing (and wanted) to go for grad school were state schools. Most of my acceptance letters came back "you're accepted, but we apologize; we've lost our state funding due to the recession so we aren't able to offer assistantships this year, and we want you here so ordinarily, we would be offering you money". My undergrad university is a state school but 50th in the nation (with no small margin) for state funding, so, they accepted me and offered me an assistantship that paid my tuition and a stipend (that exceeded my living expenses) for the first year, and it's my state school, so instate tuition for the 2nd year. So as much as I wanted to leave my state, I stayed, because you don't turn down getting half your grad school paid for. In the end I got a pre-service training grant for my 2nd year, and my total out of pocket to the university for grad school was able to be paid for by my part time retail job...less than $3k for 2 years. I had a job offer right out of school, and have been employed by the same place since 2 weeks after graduation in 2011.

Would I make the same decisions again? Yes. Would I be happy about them? From a financial standpoint...yes. Emotionally, no. But it did work out staying here. In addition to the financial piece, I met my now husband at that part time retail job. And with no college debt, I'm able to escape this state that I still dislike on a regular basis.

 

[MrsPete]

I didn't do badly, but -- looking back -- I could've done better. I chose an inexpensive state school (which was still hard to pay for with NO help from parents), and I foolishly factored my high school boyfriend into my college plans. I was 17-18 when I was making those choices, and I thought he was "forever".

If I were suddenly 18 years old again, I'd go into the military. I'd live cheaply and save every penny, then go to college a few years older /wiser /better prepared financially. If I'd done that, today I'd have some veteran's benefits, including medical, which I think is everyone's biggest concern as we head into retirement.

I'd still choose the same inexpensive state school, but -- with those extra years of maturity -- I might have had the good sense to go into the right major initially, which would've saved some time.