Here is now on a teenager really excited about becoming 18. About week before his 18th birthday. My son, Marco, walks into the kitchen and says, Dad, I am going to be really excited about next week. I said, why is that?” He says, “Because I am going to be 18 years old.” So, I say, “What is that mean to you?” He says, “I want to be an adult!” And I said, Wow! Mark, that is fantastic!”
I said, “You have no idea how excited I am.” He says, “Why is that? I said because some do that you know that before is going to help you pay of your college education. His last name is Stafford and what is he going to do for you is he is going to let you sign up a piece of paper and just for signing it because you are an adult now he is going to hand you over $3,500.00 in the form of the loan. He says, “What did you say?” I said, “ Mark you know we do not use for other words around house here.” And I said, “Beside you will probably figure out what that is anyway, later on.”
And so we keep him enthusiast and committed to his whole idea about to taken out his allowance. I said, “Mark in the second year if you stay in school this guy will give you $4,500.00.” And then every year there after you get a $5,500.00 within the four years you get $19,000.00. He said, Dad! This is unbelievable. I cannot believe. How fantastic to be an adult!” I said, “Mark ,you have got lots of surprises coming through you.”
So, anyway my point here is that if you believe that your son or daughter should have some skill in the game that they should be responsible for part of the cost of their college education. The stuffs along are really the way to go on. So, whether you are a multimillionaire are just getting by, you can get this stuff loans to the Federal Government. So, just remember that a student can always get a loan for education but as parents you can never get a loan for your retirement. I am Paul Hamppil.
Transcription by:
Scribe4you Transcription Services