Student Loan Burden

[Couch Potato]

What has one thing got to do with the other? Who ever suggested, much less promised that a college degree paid in cash or financed = a decent paying job? Sounds like more entitlement mentality to me. If the loan is a burden, don't sign on the damn dotted line.

Next you will suggest they work while going to school, start with a community college, and/or use a time frame other than four years for the degree. :new_all_coholic:


To hear some talk you would think somebody held a gun to their head to get them to take out student loans.

 

[Terrel L. Shields]

Who ever suggested, much less promised that a college degree paid in cash or financed = a decent paying job?

True, but in the past a degree was sort of a "ticket" to a better life. Today, it seems you have to punch that ticket about every 10 - 15 years because everything becomes obsolete and you end up starting all over. Thus, the high cost of education cannot justify the "payoff" that only lasts 2/3rds as long as the loan to go to school.

Yep, you can work yourself thru school. But truth is that back when Hector was a pup a state college education cost $400 a year for tuition (some states free) and dorm rooms were $1000 a year. Books? Maybe $60. With a job sacking groceries at $1.40 an hour, 20 hours provided sufficient money to live back in the day when the electric bill was $15, the phone was $7, the cable was $5, and gasoline was 32¢ a gallon.

Today that same school is likely to run $8000 - $30,000 a year, and even a part time job paying $10 an hour isn't likely to let a student pay all the bills...and those books? Some run absurd prices and professors are either hawking their own work or are required to make students pay for books they will never use...$1,000 a year for books isn't unknown...virtually all of which will be obsolete within 3 years.

 

[Joyce Potts]

True, but in the past a degree was sort of a "ticket" to a better life.

In prior generations big boobs, a 20 inch waist and Betty Grable legs were also considered a hot ticket.

Life is not fair. There are no guarantees. Bad things happen to good people.

There were too many (poorly trained) appraisers who were/are expected to do full appraisals for less money and like it.

Deal with it.

On the upside, aren't you glad you're not one my kids?

 

[Brockway]

On the upside, aren't you glad you're not one my kids?

LOL. I think my son would prefer you as his parent right now. We have been butting heads about his college choices. He has narrowed it down to 4 schools and needs to choose by May 1st. I am pushing him towards a very good but reasonably priced SUNY (Geneseo) which is only 45 minutes from our house while he would prefer to go to Pitt because he loves the city and fell in love with the school. He is my one and only and his major is physics (beats appraising). I have never been so stressed out in my life (except for maybe my divorce 14 years ago). I can't wait until this month is over.

 

[EDWARD BERRY]

Brockway,

Hang In There.
We Went Thru The Same Thing. I Have Had Many Troubles In My Life, But That Was The Worse.

Today, I Go To Walmart In August, And Watch The Madhouse.

I Stand There And Am So Thankful Its Over For Me.

I Love Teachers And Education. But Today I Would Go To The Cheapest, Closest Place I Could.

 

[Brockway]

Brockway,

Hang In There.
We Went Thru The Same Thing. I Have Had Many Troubles In My Life, But That Was The Worse.

Today, I Go To Walmart In August, And Watch The Madhouse.

I Stand There And Am So Thankful Its Over For Me.

I Love Teachers And Education. But Today I Would Go To The Cheapest, Closest Place I Could.

Thanks for the support, Edward. I agree with you completely about the cost, especially for the undergraduate degree. Now to convince the know-it-all 18 year old.

 

[Green Hornet]

LOL. I think my son would prefer you as his parent right now. We have been butting heads about his college choices. He has narrowed it down to 4 schools and needs to choose by May 1st. I am pushing him towards a very good but reasonably priced SUNY (Geneseo) which is only 45 minutes from our house while he would prefer to go to Pitt because he loves the city and fell in love with the school. He is my one and only and his major is physics (beats appraising). I have never been so stressed out in my life (except for maybe my divorce 14 years ago). I can't wait until this month is over.

It sounds as thought you son has worked hard and that has been rewarded by having the choices available. Try to relax and enjoy it. I know that it is difficult to do so, but it is the only time it will happen and it will work out.

He must have a good head on his shoulders so make sure that you are trying to listen to him and not letting your emotions get in the way.

FWIW, we are going through the same process. We were lucky to be in a situation where there were no bad options. We were able to pick the best. The one we felt was the best value.

Good luck

 

[Caligirl]

My cousin's daughter is going to attend Willamette in Washington State next year. $40,000 per year price tag, only possible due huge reduction in price due to student loans and the scholarships she has been awarded due to her 4.3 GPA (she's taken multiple advanced placement courses) and her talent with math. She's taken advanced placement math courses for several years, including physics last year and this year statistics.

Best advice out there for high school students is to take those advanced placement courses which allow you to complete university level credits, to the point where you can skip many general ed courses, and bump your GPA. Very, very attractive to 4-year system and so much scholarship money available even in this economy.

BTW, am very proud of my cousin and her daughter. My cousin has been a single, working mother since her daughter was five, and not a dime of public assistance went into her raising her daughter.

 

[Green Hornet]

My cousin's daughter is going to attend Willamette in Washington State next year. $40,000 per year price tag, only possible due huge reduction in price due to student loans and the scholarships she has been awarded due to her 4.3 GPA (she's taken multiple advanced placement courses) and her talent with math. She's taken advanced placement math courses for several years, including physics last year and this year statistics.

Best advice out there for high school students is to take those advanced placement courses which allow you to complete university level credits, to the point where you can skip many general ed courses, and bump your GPA. Very, very attractive to 4-year system and so much scholarship money available even in this economy.

BTW, am very proud of my cousin and her daughter. My cousin has been a single, working mother since her daughter was five, and not a dime of public assistance went into her raising her daughter.

Cali,

Willamette is a great school. My nephew graduated from there a few years ago.

I am looking at my son's award letter that shows total estimated costs of $49,402!

Your advise is true and I would second it.

As with your cousin's daughter, congratualtions by the way, there was a good financial aid offer. It included a combination of scholarships and loans.

We wanted him to stay on the west cost, but Willamette could not match the offer from Swarthmore, with Reed a close 2nd. So, he will be on the east coast. We are lucky in that we have family in that area.

 

[farmguy]

I agree on the availablility of scholarships. Both mine are at Texas A&M. It runs about $20,000 per year total (room, board, tuition, etc) per kid. My wife turned scholarship hunting into a second job. We started advanced placement courses freshman year, both boys were able to take some classes at local college in place of high school classes. They joined clubs, participated at church, showed livestock, etc. While in high school several of our close friends thought we were kind of anal thinking about resumes and such freshman year, but it paid off. Between the two we are around $120,000 or so. Both boys have continued to get small scholarships each semester from the university as well. They qualified for the honors program so they are automatically considered for any college scholarship money. We have come out of pocket with very little money. I would have never thought that much money was available. But it has been like a second job for my wife. We would not have gotten it without her organizing, researching and making sure papers, transcripts, etc got where they were supposed to when they were supposed to.
She has helped several sets of parents in town since the boys got out of high school.
I don't understand how high schools work. Half way through senior year most have some kind of program talking about college and finances. When kids enter high school they should have a program then. It's a little late half way through senior year to tell them they need to dramatically improve their grade point and get involved in some extra curricular activities.