Originally Posted by austenbosten
Please don't do it! I beg of you and your child!!!
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I am serious I have never met an art student who was successful. Not everyone is a Pacasso...please for the sake of your daughter's future and for the sake of yours...because if you co-sign on that $100,000 student loan YOU WILL HAVE TO PAY FOR IT!
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I am deadly serious and passionate about this. I have seen too many kids be driven to poverty and indentured servitude (cannot clear student loans in bankruptcy) and parent's finances and retirement wrecked and ruined because of these worthless schools and their worthless degrees. There's a book that I am willing to buy for you and your daughter and ship it to you with me paying the S&H, if that's what it will take to keep you and your daughter from making this horrible decision.
Totally agree with this.
I'll spare the story about my own useless degree and the problems it caused me and get right to the parent issue.
Please, do not risk your finances paying for a child's education, especially not for someone majoring in art.
That's not just my opinion. All the personal finance experts will say that you should put saving for your own retirement *first* and not jeopardize that by borrowing for your children's education.
I know it's difficult. You want your daughter to "follow her dreams" and you don't want to feel that you're "letting her down." But, you've got to recognize the reality.
And there's probably peer pressure. She's probably got friends who think it's so-o-o neat that she got into one of the "best" art schools. Trouble is, those friends won't be there to help her when she's trying to support herself and earn a living.
And, just to get this out of the way, try to encourage her not to major in art.