Even though I really, really wanted to.Just wrote this article that was published yesterday in The Billfold.
I was preparing to send my son, whom I’ll call “Ben,” to college in the spring of 2009. It was my intention to pay his way so that he wouldn’t have to work and could focus on his studies. In fact, this was my solemn promise to him (and to myself) since he was a child. It was the best gift I could possibly give him… or so I thought.
Miraculously, I had managed to put all the tuition money away in a state-sponsored college fund. I say miraculously, because my propensity was to spend far beyond my means. So I felt pretty darned proud of myself, having made good on my promise despite my proclivities.
But when we actually began the process of selecting the school, I discovered that in-state tuition was just a fraction of the total college costs. I would have to cough up another $7,200 a year to cover housing, food, books, and other expenses!
That’s when I hit bottom.