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If UPS Did Offer a Buyout....
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1591302" data-attributes="member: 12570"><p>As do I which is why I took 8 loans from my 401k while they were going through college. The plan allows you to have 2 loans active at the same time so as soon as one was paid off I took out another. All of the loans have long been paid off and my balance has more than rebounded. My point is I still had 5-10 years to go while they were in school and knew that I had ample time to help them and make sure my 401k was where it needed to be. If I were within 5 years of retirement I would have been more hesitant to help.</p><p></p><p></p><p></p><p>My ex and I agreed to split their first year of school 50/50. The remaining years were all split in equal thirds. Anything beyond their first 4 years was on their dime. My daughter followed the plan and graduated with about $20K in student loan debt. My son did not follow the plan (partied way too much) and as such he paid for everything himself, graduating with an MBA and $73K in student loan debt.</p><p></p><p></p><p></p><p>There is something to be said for having to work for something rather than having it handed to you.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1591302, member: 12570"] As do I which is why I took 8 loans from my 401k while they were going through college. The plan allows you to have 2 loans active at the same time so as soon as one was paid off I took out another. All of the loans have long been paid off and my balance has more than rebounded. My point is I still had 5-10 years to go while they were in school and knew that I had ample time to help them and make sure my 401k was where it needed to be. If I were within 5 years of retirement I would have been more hesitant to help. My ex and I agreed to split their first year of school 50/50. The remaining years were all split in equal thirds. Anything beyond their first 4 years was on their dime. My daughter followed the plan and graduated with about $20K in student loan debt. My son did not follow the plan (partied way too much) and as such he paid for everything himself, graduating with an MBA and $73K in student loan debt. There is something to be said for having to work for something rather than having it handed to you. [/QUOTE]
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