Trillion dollars in student loan debt. Young people can't afford a house, family.

[Chuck E. Cheese]

State schools is the way to go with tuition currently around $8-10 k (in California) per year. I saw some statistics where around 9-10% of student in US colleges are actually international students. They typically paid around 300% of the tuition costs in comparison to the local kid. How ever, many have also realized that a degree from U.S. universities isn't what it hyped up to be.

Unfortunately, the world doesn't need more holders of useless degrees but a more balanced mix of college graduates and professional workers (i.e. machinists, special trades). Lets face it, if everybody have a law degree, who's gonna be the garbage man, plummer, electrician etc...? In the long run, promotion of the college education (in its current form) will have a very negative for the economy due to the improper allocations of training in areas where the economy does need more off and not enough in the high demand/critical areas. Eventually the labour market supply/demand will be the ultimate balancer of career choices. But I'm afraid the damage have already been done and time and monies have been wasted to pursue fruitless careers.

 

[Bob111]

Should student loans be cheaper at Harvard?

http://www.marketwatch.com/story/should-student-loans-be-cheaper-at-harvard-2012-10-02


Defaults within three years of loans coming due. (Source: U.S. Department of Education)

School Type Rate # of Students in Default
Ivy League 1.6% 292
Private Colleges 7.5% 63,047
Public Colleges 11.0% 196,032
For-Profit Schools 22.7% 229,315

 

[d08]

Yet they absolutely need the newest edition of iPhone right when it comes out.

 

[L-Kabong]

Quote from peilthetraveler:

As of 2011 the average community college cost $3,000 for a year. Minimum wage is $7.25 times 40 hours per week times 13 weeks of summer and that equals $3,770. Guess some kids can still pay for a years worth of college with a summer job...

I went to community college as a junior in high school. Took Biology and Chemistry and learned a good deal. Plus the credits counted toward my degree after I graduated HS and went to a 4 yr school.

I entered college in1979. I was a NY resident. Tuition room and board was about $6,500 back then for a liberal arts private college. I received a federal BEOG grant of $1500 (Basic Educational Opportunity Grant - which Carter instituted and is forgotten about by all the rabid brainwashed contards because Carter didn't mindlessly bomb the earth into the stone ages after the Iranian revolution. Reagan killed the BEOG his first month in office. ) I received a scholarship from the college for $1800, and a grant from NY state's TAP program - Tuition Assistance Program - of $1,500. Out of $6,500 of expense, I had $4,800 paid for by grants or scholarships.

Today, I have a daughter attending University of Colorado, Boulder. Tuition is $32,000 per year. Add room, board, books, airfare, allowance, it's 50k a year. We're out of state. I pay every penny. No grants - they don't exist. No scholarships, no nothing. I reeived an offer for a Sallie Mae loan at 7%. Thank you and go fuck yourself. I can refinance at 3% if I want to.

I won't have my children saddled with debt as they leave college.
Graduate school? That's a different story.

 

[badvestor]

Quote from L-Kabong:

I went to community college as a junior in high school. Took Biology and Chemistry and learned a good deal. Plus the credits counted toward my degree after I graduated HS and went to a 4 yr school.

I entered college in1979. I was a NY resident. Tuition room and board was about $6,500 back then for a liberal arts private college. I received a federal BEOG grant of $1500 (Basic Educational Opportunity Grant - which Carter instituted and is forgotten about by all the rabid brainwashed contards because Carter didn't mindlessly bomb the earth into the stone ages after the Iranian revolution. Reagan killed the BEOG his first month in office. ) I received a scholarship from the college for $1800, and a grant from NY state's TAP program - Tuition Assistance Program - of $1,500. Out of $6,500 of expense, I had $4,800 paid for by grants or scholarships.

Today, I have a daughter attending University of Colorado, Boulder. Tuition is $32,000 per year. Add room, board, books, airfare, allowance, it's 50k a year. We're out of state. I pay every penny. No grants - they don't exist. No scholarships, no nothing. I reeived an offer for a Sallie Mae loan at 7%. Thank you and go fuck yourself. I can refinance at 3% if I want to.

I won't have my children saddled with debt as they leave college.
Graduate school? That's a different story.

Paying out of state tuiton is just plain dumb. She should get a waitressing job for a year and become a resident then re-enroll as instate. Every state has a good college, she should go to one instate, plus Univ of Colarado isn't even in the top 30. Please don't tell me she's studying art history?

 

[L-Kabong]

Quote from badvestor:

Paying out of state tuiton is just plain dumb. She should get a waitressing job for a year and become a resident then re-enroll as instate. Every state has a good college, she should go to one instate, plus Univ of Colarado isn't even in the top 30. Please don't tell me she's studying art history?

Thank you Lurch.

 

[Bob111]

Quote from badvestor:

Paying out of state tuiton is just plain dumb. She should get a waitressing job for a year and become a resident then re-enroll as instate.

how you expect 18 years old right off HS to do what you propose above?

here is an example what's required in University of Delaware

http://www.udel.edu/registrar/residency.html#section3


easy to say,but not so easy to do

 

[EON Kid]

Quote from wilburbear:

Friend of mine has a kid with a Masters in Forestry. Might have cost a hundred thousand dollars. The kid lives in a house with 5 other 20-somethings, and has a lawn mowing business.

You see, it would be different if a college could somehow guarantee a job placement, but that's impossible, and today's parents expect NOTHING from a college in terms of job placement. The kid is sleeping on a couch somewhere after graduation and the unfortunate parents are just numb.

Colleges know exactly what they are doing to young people.

Any sort of agricultural degree is in high demand in Australia, You can name your price +$100K, a visa would be a simple matter with such a degree. A one man lawn mowing business $50k a year, in Perth you could pull in 100k a year easily.

Don't just blame the colleges/degree, put some blame on the kids & parenting. They don't want to move far from home, only want to work in a big city & don't want to work hard.

 

[wilburbear]

Quote from EON Kid:

Any sort of agricultural degree is in high demand in Australia, You can name your price +$100K, a visa would be a simple matter with such a degree. A one man lawn mowing business $50k a year, in Perth you could pull in 100k a year easily.

Don't just blame the colleges/degree, put some blame on the kids & parenting. They don't want to move far from home, only want to work in a big city & don't want to work hard.

I agree a kid coming out of college may not work hard enough. It just shouldn't escape anyone's attention that the colleges are running up the bills and providing damn little for it.

 

[Bob111]

A Nation of Deadbeats

http://www.marketwatch.com/story/more-students-delay-repaying-loans-2013-01-30