Student Debt

[quote]swimmer2500 wrote:
Interesting. I went to college, and thanks to a few scholarships, graduated in 4 years without any debt. Then I went to grad school and received a Masters. I had either a grad assistantship or a tuition waiver the entire time - so I didn’t pay $1 for tuition. I lived in a cheap apartment with a couple friends, made all my own food, and lived cheaply. Grad school barely cost me anything - and that includes food, books, tuition, and room and board. Maybe some of you guys are doing it wrong?

I am a proponent of going to a community college first - great way to save money (I didn’t do it, but I can certainly see the benefit).

You can get textbooks for dirt cheap these days - just rent them instead of buying them. Almost all campuses offer this option. If they don’t, then rent online.

EDIT: I’ve also worked in higher ed - and the poor financial choices made by college students continually blew my mind.[/quote]

I don’t discredit the fact that many students make poor financial choices, so i can agree with that. And that in itself is another part of the problem with higher ed and articulating students from secondary education to higher education.

You are clearly an outlier within the system though, so i’d be interested to hear more about your experiences.

How did you learn about these scholarships and what kinds were they?

What is it like in other countries?

My mom is a professor at a university and they paid for my tuition at a different university.

I also played a sport which covered some other expenses so I pretty much had a full ride.

A lot of my other friends have pretty substantial debt most of them have pretty good jobs though so I can’t really say the system seems broken but I only have a small sample size to pull from.

I just today received the estimated cost of tuition for the graduate school I’m considering, which begins in August: $50,000 plus another $25,000 in estimated cost of living, eating, walkin’ around money, etc. That’s just one year.

I’m about to go to the gas station and get a lottery ticket.

[quote]TommyGunz32 wrote:

My mom is a professor at a university and they paid for my tuition at a different university.

[/quote]

That all depends on the college. I work for a state college in NJ. If I take courses here, I still have to pay the fees which are about $500 per course. For 60 credits, I’d be paying about $10,000 even though I work here!

I decided to do my Masters at another state college. My job only reimbursed me $150 a credit. So hello to a brand new $15,000 in debt to get my Masters even though I already work at a state college. So much for benefits of the job.

[quote]sam_sneed wrote:

[quote]TommyGunz32 wrote:

My mom is a professor at a university and they paid for my tuition at a different university.

[/quote]

That all depends on the college. I work for a state college in NJ. If I take courses here, I still have to pay the fees which are about $500 per course. For 60 credits, I’d be paying about $10,000 even though I work here!

I decided to do my Masters at another state college. My job only reimbursed me $150 a credit. So hello to a brand new $15,000 in debt to get my Masters even though I already work at a state college. So much for benefits of the job.[/quote]

Ya, she works for a private university. I am sure each school has there own rules regarding reciprocity. I know I had a list of school that would accept the “tuition exchange” as they call it. It wasn’t like I could just pick any school.

It only covers undergrad as well, if I were to get a masters or whatever I’d be on my own.

I thought she could take courses for free where at the school she works at but I could be wrong. If she took courses at another school unless required she would definitely have to pay.

The UK is upping fees to £9000 (about $15000) a year because the apparently the American system is better. Brilliant. I pay £3000 ($4500) in tuition a year plus about another 3k in accommodation food utilities etc. Most of my friends who studied in Scotland get free tuition though, but I didn’t get the course I wanted from there

[quote]angry chicken wrote:

[quote]Mascherano wrote:

[quote]sam_sneed wrote:

[quote]Mascherano wrote:

The higher ed system in the US is an absolute disgrace.[/quote]

Even though I work for a college, I agree with this 100%.[/quote]

Lol! I’m sure your proximity to the higher ed system only better illuminates its faults.

I find it sad really. Education is meant to “break the fetters of oppression” and in fact it just creates more of them.[/quote]

Good post Maschy.

The whole model here in America now is to go into massive debt to get the best degree you can to work SALARY for the best employer that you can… In other words, just shut up, keep your head down and work for “the MAN”. And, “oh yeah, I’m gonnna need you to come in on… Saturday… MmmmKaaay?.. Riiight”. No Overtime on Saturday, though - you’re SALARY. If you’re lucky you’ll get a bonus. People do this because they feel LUCKY to have a job.

When I got out of prison, I got into the electrical apprenticeship (a five year program that’s FREE - I even got PAID to go to school) when I was 22. By my THIRD year, I was already making more money than most of my friends who were in massive debt with college degrees.

I did that for a decade and then got into the mortgage business and used that capital to leverage ownership in several other businesses and buy a bunch of real estate that cash flows very nicely - even after property values took a hit.

The role of the small business owner here in America is being filled by people from OTHER COUNTRIES who grew up NOT drinking the cool-aid! Tell me how a person can immigrate here from Korea with 20K that their family saved up for for DECADES and start a successful small business. NOT speaking the fucking LANGUAGE half the time! And they are MILLIONAIRES in ten or fifteen years, but for regular AMERICANS with the benefit of being CITIZENS here, it simply doesn’t even OCCUR to them to take HALF the money they would have spent on college and start a business with it.

It BOGGLES my poor little mind. Keep drinking the cool-aid, though - let me know how it works out as the economy worsens, unemployment rises and you need a fucking MASTERS degree to even compete for a “good job” (oh wait…)[/quote]

Good post, but most people are already out of college and working before they realize the things you mentioned. Kids raised by employee parents expect to grow up and be employees. By the time they realize they could have done something else, the money is already spent and the interest is piling up.

[quote]Bambi wrote:
The UK is upping fees to Ã?£9000 (about $15000) a year because the apparently the American system is better. Brilliant. I pay Ã?£3000 ($4500) in tuition a year plus about another 3k in accommodation food utilities etc. Most of my friends who studied in Scotland get free tuition though, but I didn’t get the course I wanted from there[/quote]
What do you study?

[quote]swimmer2500 wrote:
Interesting. I went to college, and thanks to a few scholarships, graduated in 4 years without any debt. Then I went to grad school and received a Masters. I had either a grad assistantship or a tuition waiver the entire time - so I didn’t pay $1 for tuition. I lived in a cheap apartment with a couple friends, made all my own food, and lived cheaply. Grad school barely cost me anything - and that includes food, books, tuition, and room and board. Maybe some of you guys are doing it wrong?

I am a proponent of going to a community college first - great way to save money (I didn’t do it, but I can certainly see the benefit).

You can get textbooks for dirt cheap these days - just rent them instead of buying them. Almost all campuses offer this option. If they don’t, then rent online.

EDIT: I’ve also worked in higher ed - and the poor financial choices made by college students continually blew my mind.[/quote]

This x1000,

[quote]Steel Nation wrote:

[quote]angry chicken wrote:

[quote]Mascherano wrote:

[quote]sam_sneed wrote:

[quote]Mascherano wrote:

The higher ed system in the US is an absolute disgrace.[/quote]

Even though I work for a college, I agree with this 100%.[/quote]

Lol! I’m sure your proximity to the higher ed system only better illuminates its faults.

I find it sad really. Education is meant to “break the fetters of oppression” and in fact it just creates more of them.[/quote]

Good post Maschy.

The whole model here in America now is to go into massive debt to get the best degree you can to work SALARY for the best employer that you can… In other words, just shut up, keep your head down and work for “the MAN”. And, “oh yeah, I’m gonnna need you to come in on… Saturday… MmmmKaaay?.. Riiight”. No Overtime on Saturday, though - you’re SALARY. If you’re lucky you’ll get a bonus. People do this because they feel LUCKY to have a job.

When I got out of prison, I got into the electrical apprenticeship (a five year program that’s FREE - I even got PAID to go to school) when I was 22. By my THIRD year, I was already making more money than most of my friends who were in massive debt with college degrees.

I did that for a decade and then got into the mortgage business and used that capital to leverage ownership in several other businesses and buy a bunch of real estate that cash flows very nicely - even after property values took a hit.

The role of the small business owner here in America is being filled by people from OTHER COUNTRIES who grew up NOT drinking the cool-aid! Tell me how a person can immigrate here from Korea with 20K that their family saved up for for DECADES and start a successful small business. NOT speaking the fucking LANGUAGE half the time! And they are MILLIONAIRES in ten or fifteen years, but for regular AMERICANS with the benefit of being CITIZENS here, it simply doesn’t even OCCUR to them to take HALF the money they would have spent on college and start a business with it.

It BOGGLES my poor little mind. Keep drinking the cool-aid, though - let me know how it works out as the economy worsens, unemployment rises and you need a fucking MASTERS degree to even compete for a “good job” (oh wait…)[/quote]

Good post, but most people are already out of college and working before they realize the things you mentioned. Kids raised by employee parents expect to grow up and be employees. By the time they realize they could have done something else, the money is already spent and the interest is piling up.[/quote]

I am not sure what you are advocating though

Do you expect every 18 year old kid to strike out on there own and start a small business?

Overwhelmingly the more(better) ones education the more money they can expect to make. There obviously are exceptions.

An observation that i’ve made is foreigners who immigrate here put a huge emphasis on education. Indians and Asians especially. They love the medical field. Every school I know always has a huge asian population.

You don’t have to go into massive amounts of debt. Everybody’s situation is different but if you do well in high school you should have some options. I know if NY there are the SUNY schools which are very affordable and have some really good programs. There are trades as you mentioned some other avenues you can take as well.

[quote]Steel Nation wrote:

Kids raised by employee parents expect to grow up and be employees. By the time they realize they could have done something else, the money is already spent and the interest is piling up.
[/quote]

Most people SHOULD expect to grow up to be employees, because most people WILL grow up to be employees.

Not everyone founds Google or Apple. And not everyone should try. In many cases being a successful employee in a lucrative business is a much better life than pouring your blood sweat and tears into your own half-baked venture into free market economics.

[quote]kakno wrote:

[quote]Bambi wrote:
The UK is upping fees to Ã??Ã?£9000 (about $15000) a year because the apparently the American system is better. Brilliant. I pay Ã??Ã?£3000 ($4500) in tuition a year plus about another 3k in accommodation food utilities etc. Most of my friends who studied in Scotland get free tuition though, but I didn’t get the course I wanted from there[/quote]
What do you study?[/quote]

Linguistics

[quote]Bambi wrote:

[quote]kakno wrote:

[quote]Bambi wrote:
The UK is upping fees to Ã???Ã??Ã?£9000 (about $15000) a year because the apparently the American system is better. Brilliant. I pay Ã???Ã??Ã?£3000 ($4500) in tuition a year plus about another 3k in accommodation food utilities etc. Most of my friends who studied in Scotland get free tuition though, but I didn’t get the course I wanted from there[/quote]
What do you study?[/quote]

Linguistics[/quote]

It amazes me how much cheaper college is in other nations. I go to the cheapest 4 year college in my state, and it usually costs between 18 and 22 thousand a year, depending on the meal plan and housing option you choose.

The whole system of federal grants and loans is fucked up too. The federal government will give you grants (which are free) and loans (which are paid back) based on your “financial need”. The fucked up thing is, it seems like they have no idea at all about 1)who really needs the money and 2) who deserves the money.

For example, I was given 2500 a year in federal loans, and earned a 5000 scholarship. I live in a trailer in the middle of the woods and my family struggles with money ALL the time. Ive moved almost a dozen times from being evicted, etc. Yet I have to pay 3-4 thousand dollars per SEMESTER, even though I graduated with honors and a 3.4 GPA. On the other hand, my roommate, whose parents own a house in a large city, have an underground pool, and never struggle financially whatsoever, gets paid 2000 per SEMESTER to go to the same school. He also graduated with a 2.7 GPA, has done nearly every drug imaginable in his life, and is a shoplifting fiend. We have the same major (Pre-Med), and although we both have made the dean’s list, he has yet to take a class required for his major, whereas I have made an A and B in my first 2 biology courses.

WHAT THE FUCK?!

I’ll be entering my first semester of physical therapy school this summer:

Tuition? $10,500 PER SEMESTER

x 9 semesters=…$94,500

That’s IF tuition prices don’t rise (and they will).

and it’s just tuition…I might need to eat sometime in the next 3 years.

[quote]UNCheavylifter wrote:
I’ll be entering my first semester of physical therapy school this summer:

Tuition? $10,500 PER SEMESTER

x 9 semesters=…$94,500

That’s IF tuition prices don’t rise (and they will).

and it’s just tuition…I might need to eat sometime in the next 3 years.[/quote]

Or live somewhere, or buy a few books, or take a few labs, or drive a car…

Medschool in UK FTW.

5 years in length, £3200/year tuition fees. 5th year sponsored by the NHS. So just under £13000 for my degree (about $19-20k). I’ll take that.

[quote]Chris87 wrote:
For example, I was given 2500 a year in federal loans, and earned a 5000 scholarship. I live in a trailer in the middle of the woods and my family struggles with money ALL the time. Ive moved almost a dozen times from being evicted, etc. Yet I have to pay 3-4 thousand dollars per SEMESTER, even though I graduated with honors and a 3.4 GPA. On the other hand, my roommate, whose parents own a house in a large city, have an underground pool, and never struggle financially whatsoever, gets paid 2000 per SEMESTER to go to the same school. He also graduated with a 2.7 GPA, has done nearly every drug imaginable in his life, and is a shoplifting fiend. We have the same major (Pre-Med), and although we both have made the dean’s list, he has yet to take a class required for his major, whereas I have made an A and B in my first 2 biology courses.

WHAT THE FUCK?![/quote]

That is absurd… why the fuck does he get paid to go to school?

[quote]RSGZ wrote:

[quote]Chris87 wrote:
For example, I was given 2500 a year in federal loans, and earned a 5000 scholarship. I live in a trailer in the middle of the woods and my family struggles with money ALL the time. Ive moved almost a dozen times from being evicted, etc. Yet I have to pay 3-4 thousand dollars per SEMESTER, even though I graduated with honors and a 3.4 GPA. On the other hand, my roommate, whose parents own a house in a large city, have an underground pool, and never struggle financially whatsoever, gets paid 2000 per SEMESTER to go to the same school. He also graduated with a 2.7 GPA, has done nearly every drug imaginable in his life, and is a shoplifting fiend. We have the same major (Pre-Med), and although we both have made the dean’s list, he has yet to take a class required for his major, whereas I have made an A and B in my first 2 biology courses.

WHAT THE FUCK?![/quote]

That is absurd… why the fuck does he get paid to go to school?
[/quote]

According to the Unites States Government, he has more financial need then I do, and so he deserves all this financial aid he gets from them, more then it costs to go to school. But me, I dont deserve that money, so I get to pay for college, even though my family makes less money and I had better grades in school. Its a fucked up system no matter how you look at it. My EFC, expected family contribution, how much the federal government expects my family to pay per year for my school, is above 9000 dollars. I want to know who the fuck looked at my family, living paycheck to paycheck in a trailor in the woods, and decided they could afford that.

[quote]adam_medic wrote:
Medschool in UK FTW.

5 years in length, Ã?£3200/year tuition fees. 5th year sponsored by the NHS. So just under Ã?£13000 for my degree (about $19-20k). I’ll take that. [/quote]

God im so jelly. How much were your undergrad studies?

[quote]Chris87 wrote:

[quote]adam_medic wrote:
Medschool in UK FTW.

5 years in length, Ã??Ã?£3200/year tuition fees. 5th year sponsored by the NHS. So just under Ã??Ã?£13000 for my degree (about $19-20k). I’ll take that. [/quote]

God im so jelly. How much were your undergrad studies?[/quote]

In Denmark, the school would have a 0$/year tuition fee, and together with that you would get up to 700$ a month just to attend school if you are between 18-20, and 700$ if you are 20 or over. Plus there is 2% interest student loans you can take.
Must say, socialistic countries do have it pretty well with some things.