keeping it (financial troubles) in the family

S

simple

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Sep 30, 2004
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First off, my parents don't have a lot of money. Last week they called me up saying they were going to be $17,000 short on a payment for my younger brother's college tuition, and asked for my help. I do fairly well for being 24, but I think 17 grand would hurt anyone. I'm a little dissapointed in my parents, because they've never been good with money when they've had it, and but then again they never really had it in the first place. However, whether or not to help my brother out is something I would never have to think about, so I took a loan out of the bank and am paying it back roughly 300 a month. All of this couldn't have come at a worse time, I was just about to buy a house for myself and my girlfriend (who I will marry sometime soon). I told her that her engagement ring might be a pipe cleaner, but at least she'll know I love her.
 
elpmis said:
First off, my parents don't have a lot of money. Last week they called me up saying they were going to be $17,000 short on a payment for my younger brother's college tuition, and asked for my help. I do fairly well for being 24, but I think 17 grand would hurt anyone. I'm a little dissapointed in my parents, because they've never been good with money when they've had it, and but then again they never really had it in the first place. However, whether or not to help my brother out is something I would never have to think about, so I took a loan out of the bank and am paying it back roughly 300 a month. All of this couldn't have come at a worse time, I was just about to buy a house for myself and my girlfriend (who I will marry sometime soon). I told her that her engagement ring might be a pipe cleaner, but at least she'll know I love her.
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A pipe cleaner to show you love her? More like clean her pipes to show you love her AMIRITE??
 
Dude, that really sucks. I feel for you, lots of people say to 'cut them off' and 'fuck 'em', but have no idea how hard it would be to have them show up at your doorstep because they got kicked out of their own house, etc.

I would make it a stipulation of the loan, that YOU get to be in charge of their finances from now on. Have them sign over the authority to you, have their checks go direct deposit, you pay the bills first electronically and give them an allowance for food and spending money.

That's what we're doing with my in-laws now. The last house we bought them suddenly had a 300% tax increase and selling it took waaay too long. They'll just burn through their remaining money in an apartment, if they could even find one that is wheelchair accessible - so we're buying them yet another house, but taking over their finances so we get paid first - not last.
 
Wow, that sucks but it is an awesome thing you are doing for your family and you should take pride in that.
 
elpmis said:
First off, my parents don't have a lot of money. Last week they called me up saying they were going to be $17,000 short on a payment for my younger brother's college tuition, and asked for my help. I do fairly well for being 24, but I think 17 grand would hurt anyone. I'm a little dissapointed in my parents, because they've never been good with money when they've had it, and but then again they never really had it in the first place. However, whether or not to help my brother out is something I would never have to think about, so I took a loan out of the bank and am paying it back roughly 300 a month. All of this couldn't have come at a worse time, I was just about to buy a house for myself and my girlfriend (who I will marry sometime soon). I told her that her engagement ring might be a pipe cleaner, but at least she'll know I love her.
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Holy shit dude. That sucks. Wow. That really sucks. Does your bro know? Why couldn't he just get financial aid? And how do you know this won't happen again?

/barrage
 
One thing I don't get though: why did your parents have such an utterly massive tuition payment? Are they paying full cash upfront? Your brother needs to apply for student loans as an independent if your parents make too much money to qualify for financial aid (which I'm assuming is why they're paying that much).

And what the hell school charges that much, anyway? Yale?
 
my parents never had the money/didnt plan well enough to give my siblings or i much of anything. i paid what i had to for school. your brother is fortunate he has someone to help him out. hat's off to you, sir.
 
college is over rated. Have him buy 17 grand in drugs and write a novel about it
 
why_ask_why said:
that isn't an abnormal price...my boarding school cost almost that in the 80's!
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Yeah, so did m......what the fuck am I talking about. I went to public school and I liked it.
 
What a rip off. If you're paying that for an undergrad degree you're wasting your money. Employers only care if you have a grad degree anyway. Undergrads only show them that you were disciplined enough to sit in a classroom for 4 years, and everyone knows that undergrads don't know their assholes from holes in the ground. I can't imagine paying that much for a B.A. or a B.S., which ironically is a fitting description for what you walk away with.
 
This swings into a conversation a co-worker and I were having:

Is it legal to purchase a car with a standard credit card? I had heard somewhere that it wasn't, but am not sure.

It's is noble of you to help your brother/parents out elpmis. Your family will (ideally) always be there for you, when it is your turn to take up the strain you should try to do your part, even if it sucks.

Funny edit: Your sacrifice makes my bosoms swell with pride.
 
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