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Bought a Van to Live Out of During College; Saved Money, Worked Well ...
For almost two years, I chose to live in a minivan I bought for cheap on Facebook Marketplace while completing my bachelor's degree so I could save money and graduate without debt. Andrea Sadowski 2026-05-07T15:54:01.231Z While working toward my bachelor's degree, I spent almost two years living out of my minivan. I'm lucky I was able to take advantage of on-campus resources and occasionally stay with friends. Since I saved on housing, I was able to put more money toward my tuition and into my savings. When I was a university student also working full-time, I had enough income to afford two out of the following three expenses: tuition, rent, or a vehicle. On-campus housing was pricey, and the idea of paying for someone else's mortgage didn't appeal to me. In the end, I decided I'd prefer having the freedom of a vehicle — and if I got the right one, it could also be a place to live.So, I bought a cheap minivan on Facebook Marketplace and converted it into my little home on wheels.I purchased the first decent minivan I could find for cheap, then figured out how to make it work I tried a few different configurations of my seven-seater van. Andrea Sadowski Since I decided to buy a van on the heels of my previous car breaking down, my search was more rapid and desperate than I would recommend.A large, typical van-life vehicle, such as a Volkswagen Vanagon or Sprinter, was out of the question for me price-wise. Even used ones usually cost five figures. I bought the first semi-liveable van I found on Facebook Marketplace that test-drove reasonably well and had under 300,000 kilometers on the odometer.My 2005 Mazda MPV cost me about $1,000 Canadian dollars, or about $730, after I negotiated with the owner — the tires were completely worn down, and he was missing useful paperwork. I tried a few different builds inside this typical seven-seater minivan, including nailing together a rickety bed with a two-by-four and a sheet of plywood.I eventually settled on a setup in which I took out all the seats except the drivers' and front passengers', and created a nest on the floor of the van using patio-seat cushions, pillows, and heaps of blankets. My favorite setup involved a lot of pillows and blankets. Andrea Sadowski I stored my clothes in a duffel bag, kept a large cooler and a milk tote for my food, and had another big plastic bin for my camp kitchen supplies.I also made covers I could take on and off my windows using squares of reflective insulation shee...
I Want to Pay Off Our Grandson's $45K Student Loan Debt, But My Husband ...
(Image credit: Getty Images, with Gemini edits)Question: Our grandson just graduated from college with $45,000 in debt. I want to pay off his student loans, but my husband says we can't afford it. We're 73-year-old retirees with $2.1 million and $4,000 a month in Social Security that covers most of our bills. Who's right?Answer: You'll often hear that college graduates are drowning in debt. That may not be true for everyone, but the average student loan debt, including private loans, may be as high as $42,673 today, reports the Education Data Initiative.A balance that large could be difficult to shake for recent grads who aren't diving into instantly lucrative careers. So if you're a retired couple who's financially comfortable and have a grandson who just walked away with a $45,000 pile of student loan debt after wrapping up his studies, you may be inclined to help. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. If you're sitting on a $2.1 million nest and your $4,000 monthly Social Security check mostly covers your bills, it's clear that you have some wiggle room in your budget. But your husband may not be as convinced.Here's how to figure out how to lend a hand in a manner that doesn't compromise your financial security or convey the wrong message.Paying off the loan probably won't change your lifestyleA $2.1 million nest egg is not the same thing as unlimited financial resources. But if you're mostly able to live on Social Security and that $2.1 million is just your "extra" cash, a $45,000 withdrawal may have a minimal impact, says Deon Strickland, Ph.D. financial advisor at Scholar Advising."If you’re looking at the couple, 73 years old, about $2 million in retirement assets, and $4,000 a month in Social Security, you’re probably talking about somewhere around $100,000 a year, give or take, available to spend after tax," he says. "So they’re in a position where this decision is not going to dramatically change their lifestyle."That doesn't mean you should just write a check without thinking things through, though.As Strickland says, "This really comes down mo...
Crushing Student Loan Debt Hinders Black Home Ownership, Feeds Racial ...
As the most educated group in the United States, Black women are more likely to be saddled with student loan debt. A report by the American Association of University Women (AAUW) found that Black women amass an average of $41,466 of debt by college graduation, compared to the $33,851 held against white women and $19,500 held against white men.
Effects of Cancelling Student Loan Debt (2026) : Short & Long-Term
An analysis on all benefits and drawbacks, both short-term and long-term, resulting from the cancellation of student loan debts of graduates.
