I attribute my success to getting a degree that including learning to design a new technology called microprocessors. I also took courses in this new field called software engineering. My "all nighters" in college did not involve drinking beer at frat parties.
I got a job programming computers. For the first 5 years my wife knew me, I was working overtime -- without pay since I was considered a salaried employee who was supposed to work as much as needed to get the job done.
10 years after I graduated I learned on my own about this new thing called the Internet and how to develop software that allows software on one computer to use it to exchange information with another.
My kids are doing well, and yes some of it part to mom & dad. But they both have degrees, went to relatively inexpensive state schools, so paying for college was manageable. By the way, I started saving for their educations when they were quite small, something apparently other baby boomers chose not to do. My sons took out some college loans, but they were for just for 1 year's worth of tuition so they have been easy to pay off.
Both of my kids are employed and hard working. One is a restaurant manager who works 50 hours/week. The other is a biochemist. Since they are just starting out, they get very little vacation or holidays off.
As for other kids who have huge college loans -- what did they get their degrees in ? Social sciences and partying ? Not too many job openings for that kind of education. Also -- I can tell you from experience, Federal and school sponsored student aid is pretty good. Any kid in need can probably get $5,000 per year from them. Add in a campus job for 10 hrs/week and you get another $3,000. Add in a summer job -- even at McDonalds, And you get another $3,000. Mom and dad pitch in the $5,000 they would have paid for food and clothing anyways and you're at $16,000 without ever taking advantage of the 18 years you had to save a penny for them. That doesn't cover all the costs but it makes the loans needed fairly manageable. And if parents/family had saved enough to cover $5,000/year, then they could afford to go to many places without borrowing any money at all.
So basically everything you said or assumed was wrong.
Chris
