| steven787 said: Banks are pretty safe, if it comes to the point where bank insurance (FDIC in U.S.) doesn't cover your deposits, than paper money is the least of our worries. Why would parents put their kids college money in the stock market? |
Much like the housing market, a massive flood of inexperienced investors putting their money into the stock market over the past decade gave people the impression that investing in the stock market was risk free; as a result, lots of people who really shouldn't have invested in the stock market did invest in the stock market and lost the money they couldn't afford to lose.
On topic ... It really sucks that you lost a large portion of your college education fund. The advice I would give you is to talk to the colleges you want to attend about their policy for transfer students and look into local schools to start school in; in most cases it is much easier to get into a school as a 3rd year student, and you can spend the first two years of college living at home, working a part time job and saving money.
