Texas Tech Softball $10,000 NIL Deal for softball players

[LEsoftballdad]

As a parent currently writing checks for his second college student, I couldn’t care less what the university is making.

That money is a godsend for players not on full scholarship, and most aren’t no matter what their goofy parents claim.

If you can get our kid out of school without too much debt you are doing great.

If you are a parent with a young kid reading this, I hope you can find a way to start saving for school NOW. It helps a lot.

In my real life, I conduct financial aid nights at local schools all over the area. In the last 23 years I have become jaded about higher education and now support the Mike Rowe philosophy of college being a scam for a lot of people. A good deal of jobs out there don't require a degree to do the job. Do employers require them? Sure, but that doesn't mean they're necessary. And considering costs have gone up on average 5-6% every year is absurd. Most people can't put enough money into their 529 plans to pay for college without loans. Do the schools care? Of course not. As long as they keep getting their money, they couldn't care less where it comes from.

If this helps people keep their costs down, I'm all for it.

 

[_MIA_]

In my real life, I conduct financial aid nights at local schools all over the area. In the last 23 years I have become jaded about higher education and now support the Mike Rowe philosophy of college being a scam for a lot of people. A good deal of jobs out there don't require a degree to do the job. Do employers require them? Sure, but that doesn't mean they're necessary. And considering costs have gone up on average 5-6% every year is absurd. Most people can't put enough money into their 529 plans to pay for college without loans. Do the schools care? Of course not. As long as they keep getting their money, they couldn't care less where it comes from.

If this helps people keep their costs down, I'm all for it.

Sorry. I make under 6 figures if that makes you feel any better

 

[Westwind]

You almost made me go check to see how the kid’s 529 plan was doing but then I thought better of it..good try

Now is the time to be putting money in but not looking at it!

It hurts to look right now for sure.

 

[Westwind]

I want to go on record and say I am not receiving any NIL money from The Matador Club, The Desperado Club, The Torero Club or any other club.

I’m not a Matador, but I did have enchiladas at the Matador Restaurant last night.

 

[Orange Socks]

I just peeked at the kid's 529 plans. Lucky enough, I will have some leftover from DD1 to pass down to DD2. But I am down 12% in DD2 account. I use to work for Edward Jones and I was taught to say, If you have money available, now would be a great time to put your money to work. I filled out the FAFSA form for DD2 yesterday. 2021 was a very tough financial year for our household and was hoping that helps DD2 chances for Federal money. Seems like everyone but me is getting some of that "free" money. I have no idea why I waste my time. They are only gonna say, you qualify for loans and work study!

 

[Westwind]

I just peeked at the kid's 529 plans. Lucky enough, I will have some leftover from DD1 to pass down to DD2. But I am down 12% in DD2 account. I use to work for Edward Jones and I was taught to say, If you have money available, now would be a great time to put your money to work. I filled out the FAFSA form for DD2 yesterday. 2021 was a very tough financial year for our household and was hoping that helps DD2 chances for Federal money. Seems like everyone but me is getting some of that "free" money. I have no idea why I waste my time. They are only gonna say, you qualify for loans and work study!

I can’t tell you how much I think it sucks that parents are penalized for saving.

 

[LEsoftballdad]

I can’t tell you how much I think it sucks that parents are penalized for saving.

Yup, do a good job saving, and you screw yourself.

Here's what I'll tell you. Don't ever list a 529 Plan on a FAFSA. It's a ghost asset that has no paper trail unless you use it for something other than college.

 

[LEsoftballdad]

Harvard has raised their prices from $36,000 to $80,000 in 21 years. That's about 4% per year, every year. Oddly enough, their endowment fund is worth almost $50 billion for what amounts to a tax-free hedge fund.

 

[Westwind]

Yup, do a good job saving, and you screw yourself.

Here's what I'll tell you. Don't ever list a 529 Plan on a FAFSA. It's a ghost asset that has no paper trail unless you use it for something other than college.

That is a fantastic tidbit right there!

I did not know that.

eta:
We didn’t use 529’s my wife says they were uniform transfer to minors. She the mba with the math degree, I just signed the payroll deductions, lol

 

[Orange Socks]

Yup, do a good job saving, and you screw yourself.

Here's what I'll tell you. Don't ever list a 529 Plan on a FAFSA. It's a ghost asset that has no paper trail unless you use it for something other than college.

Well dang! I was just following the instructions on the site. DD1 got a $5K a semester outside private endowment which has been a Godsend for us. Hoping DD2 can get it too, but she will end up going to cheaper mid major in Texas for Elementary Education as a NARP.