college debt

Discussion in 'Bad Dog Cafe' started by ndcaster, Mar 13, 2019 at 8:08 PM.

  1. Humble Pie

    Humble Pie TDPRI Member

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    most of the colleges around here have a tremendous ability/amount to spend on new facilities,regularly!!

    It seems to me, they are not a very conservatively run outfit! all this new construction is EXPENSIVE!

    guess who pays for all these fancy goods!

    MOTTO OF THE DAY -get the best, even if you can not afford it!
     
  2. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Today students started suing colleges as part of the backlash concerning rich folks bribing their kids way into college. Now we will end up with some underprivileged lawyers, and students getting rich, and likely breaking the institutions they are suing. Ain't the system just grand? One thing about it, if the colleges collapse, I guess that'll take care of at least future debt accumulation.
     
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  3. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    Imagine: a nation of plumbers!
     
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  4. SolidSteak

    SolidSteak Friend of Leo's

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    [​IMG]
     
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  5. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Of course there is a college which offers a degree in something useful, where upon completion of the course the job opportunities abound.

    Bagpiping!

    What you study:
    Bagpiping, “a program of study where a person can get a complete grounding in music as well as specific instruction on the instrument.”

    Where you can get the degree:
    Carnegie Mellon University

    Example courses:
    Studio, Theory, History

    Job prospects:
    A bagpiper or teaching the bagpipes
     
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  6. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    Now you gone and done it! I got my undergrad degree from CMU -- Math/Comp Sci, not music -- but their college of fine arts is a beautiful building:

    [​IMG]

    Imagine playing the pipes in that grand marble hall! Of course, given the Andrew Carnegie/Scottish roots of the university, piping should not come as a surprise.
     
  7. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Bagpipes and the grand marble hall! The perfect compliment to each! The position of chief Bagpiper is absolutely custom designed for blowtorch!
     
  8. noah330

    noah330 Friend of Leo's

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    I came out of college in the 1990s owing about $80,000, which according to the inflation calculator would be $125000 in today's money.

    I just paid it off as I could. It took a while and was very hard to do when I had just finished school but it was my decision to take the loans so it was my responsibility to pay it back.

    I didn't come from a wealthy background and went to Berklee, not exactly a solid career path coming out of there but I went to college to learn, not to make money. For me it was about getting the education I wanted and I wouldn't have changed that looking back. To me, studying something you love is way better than just going to learn how to make money at a job you're going to hate or just be able to tolerate.

    College loans should absolutely not be able to be forgiven or written off in bankruptcy. If you lose your house because you don't pay you don't get to live there. You would keep your college experience if they let you discharge it. If everyone could declare bankruptcy at 22 and have it off their credit report 7 years later at 29 with zero debt the system wouldn't be able to support people going to school.

    The money I repaid has allowed other people to borrow from the system. The money was there for me when I needed it because the folks that borrowed before me paid theirs back.

    If you borrow you should pay. If you don't want the loans don't go to the school. There are plenty of affordable State and Community colleges. It's not like people have to go into huge debt to get a good education (and this is coming from someone who did go into huge debt).

    I always figured the day I paid it off I would make a big purchase or take a trip but honestly the day I paid it off it felt good but it wasn't as exciting as I thought it would be.
     
    Last edited: Mar 14, 2019 at 12:41 PM
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  9. Bob M

    Bob M Tele-Afflicted Ad Free Member

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    3 kids-all college grads. One went to Mass state college-at the time was 2/3rds cheaper than a private school. #2 went to community college for all but his final year when he transferred to a decent private college for his final year. #3 was the only one who went the private college route for his entire collegiate career and he had a scholarship to wrestle that probably covered 20% of the cost. I felt I owed my kids an education so I paid for most of it. I did make sure that they all took out some loans to feel some of the burden on their own.

    I'm conflicted on the subject in some ways. I understand the cost is out of control. You still have to stay within your budget. It's possible...
     
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  10. PCollen

    PCollen Friend of Leo's

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    My son's college debt was much lower, but then he only went as far as an Associates Degree before he went off to Austin to live with his girlfriend who was working on her Masters. However, I did help pay off his student debt.....each partial payment was his Christmas present for 6 years.
     
  11. Jim622

    Jim622 Tele-Afflicted Silver Supporter

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    I was raised that if I agree to take a loan or any type of debt. It is mine to pay, I agreed to the terms. That is why I don’t have a house or a car that is beyond my means. Don’t take on more than you can handle. The other thing I was told if you loan money to family, consider it a gift, don’t expect to be paid back. It will save you from a lot of hard feelings.

    I don’t believe in baling anyone out. I never ask for assistance in my 55 years. I’ve worked 2 jobs for 20 years. Kids should be taught to stand on their own.
     
  12. Alex W

    Alex W Friend of Leo's

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    State universities have become much more expensive. When I graduated high school in the 1980s, in-state tuition at a state university was about $500 a semester. That's practically free. I remember looking at a Harvard brochure in the mid 80s and the tuition was about $13,000 at that time and that seemed utterly outrageous to me. Now my home state university costs about $12,000 per year for residents.
     
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  13. noah330

    noah330 Friend of Leo's

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    Berklee was about the same as Harvard when I was in school. The difference was Harvard has a HUGE endowment so if you get accepted you usually get a great aid package and don't end up with a ton of debt. Berklee being a small school (it was either 1700 or 2500 when I was there, I don't remember) didn't have the resources to offer similar packages.

    I also was accepted at Brown and RISD. Both offered me much better packages.

    Right now Brown is about 50k, Berklee is about 40k, Harvard and RISD are about 45k.

    University of Maryland is under 10k, U of RI is 13k and U Mass is 14k.

    Community colleges do two year transfer programs. Just keeping with the Northeast (where the schools I'm talking about are). Bunker Hill CC in Boston is $3500 a year.

    Depending on what field you're planning to go into it may make sense to go to a bigger name school. I know that had I not gone to Berklee I wouldn't have met a lot of people who have given me opportunities and when I meet other people who have gone there we have that bond which has helped.

    If you're going to be something that's less industry specific most people don't care where you've gone after you get your first job I would think. My older brother went to a State college (U-Mass) followed by grad school at a private school (Hofstra) and he makes a ton of money and hates his job. I don't think having gone to one or another has helped him all that much.
     
    Last edited: Mar 14, 2019 at 12:51 PM
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  14. BigDaddyLH

    BigDaddyLH Telefied Ad Free Member

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    Hmm, it varies. I just checked what the fees were in Quebec, the province that keeps education costs the lowest, and it starts at $CAN 2,456 ($USD 1,844) for the 2018-19 academic year.
     
  15. Miguel-martinez

    Miguel-martinez TDPRI Member

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    work your **s off and pay it.
    Every time you decide to get a debt it is important to keep in mind how you are going to pay it.
     
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  16. t guitar floyd

    t guitar floyd Tele-Holic

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    Excellent advice! My wife (with MA in Language Acquisition) tells anyone who will listen to not take out a college loan if at all possible. She says there are many scholarships and grants out there that are still available every year, because potential students don't apply for them.
     
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  17. Humble Pie

    Humble Pie TDPRI Member

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    some time ago a fellow coworker and myself were listening to another coworker complaining about some bad situation he was in.

    No sooner was he done complaining, that my bud said to him, it sounds like someone made some poor choices!

    the conversation quickly ended!

    seems that this is an epidemic now a days!
     
  18. Boubou

    Boubou Doctor of Teleocity Gold Supporter

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    I vaguely remember fees were $273 per semester ($546 per academic year) around 1980.
    I made about $1600 in a summer
    But then i didnt have to pay for a cell phone and plan or a car, i took the bus didnt have a $700 Canada Goose jacket either.
    I worked in a University for the last 8 years, I saw a lot of students carrying $2000 worth of gear.
    I also am sure some were poor
     
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  19. Guitarzan

    Guitarzan Poster Extraordinaire

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    The first thing to do is stop digging.

    It is imperative that the common lies to young people cease, which is get a degree, any degree, from a college, any college, must end.

    All schools are not equal and all degrees are not equal. You will find very few help wanted ads for degrees in feminine studies, general studies, recreation and leisure studies, [fill in the blank with anything] followed by studies, photography, art, art history, English literature, and many other areas.
     
    Last edited: Mar 14, 2019 at 2:42 PM
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  20. rad1

    rad1 Tele-Holic

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    When My wife and I addended college and grad school, we worked and still accumulated big student loans. The same is true for both my girls, $250,000 debt from med school for one and 125,000 debt from a Duke masters program for the other. The difference between us and them, the loan rates. In my day the loan rate was very very low and you could afford to take the time to pay it off. For my girls the loan rates are ridiculously high. They each earn more individually than my wife and I ever did combined but a large chunk of that goes to paying off those high interest loans.

    As for the students now compared to years ago.....no different, just kids trying to find their way in a changing world.
     
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