Long conference call with my 21-year-old and his mother today as we try to help him navigate the treacherous waters of incurring debt while at college. I've worked with him the past few years to try and prepare him to handle these matters on his own.
Sometimes, for all parents, it feels like the deck is stacked against our kids. The loan system itself is extremely opaque. You cannot easily tell which loan is for which kid, how much the interest rate is, and when what is due.
In other words, it is a racket. Of that I am sure.
But we are slowly and methodically figuring it all out. The basic point here is he, and all of our kids, will need these skills going forward.
He also is trying to buy his first car. Out there in Missoula, that would improve his lifestyle immensely. So we talked about Consumer Reports and Kelly Blue Book. But his greatest asset locally may be his friend Johnny, who knows about cars.
He is also talking about moving into an apartment next semester with his girlfriend. It would be university-based housing.
Ah...You know, when it comes to your kids as they reach these ages and stages, all you can do is sit back and hope for the best.
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