Our sons' $189,000 student debt is delaying our retirement

CNN ^ | 11/30/2015 | Matt Egan

[ladyjane]

Yes, the timing of this article is suspicious. The content is also.

Tuition at Rutgers is now about $12,000 a year. How in the world did the kid rack up loans in the amount of $129,000?

Even if the kid never worked and took out loans for his entire tuition cost, the total is less than 50k. Something doesn’t add up.

[Billthedrill]

Tuition at Rutgers is now about $12,000 a year. How in the world did the kid rack up loans in the amount of $129,000?

I was wondering that too. I gathered from the article that his home is in Pennsylvania so that'd be out-of-state tuition at Rutgers, roughly fifteen grand more than in-state. That and fees run to an annual total of around $28.5K. For a BA in Journalism. Whoa.

[Mears]

“Sorry to say this but never heard of that school.”

—

So because you never heard of it you can dismiss it.

Hmm.

Lots of folks have never heard of Olin College either-—but it’s excellent.

.

[Georgia Girl 2]

Life is tough. Its tougher if you are stupid. They brought this debt on themselves. Why didn’t they have their kids live at home and attend community college for two years like my BIL is getting ready to do with two of his kids who are graduating HS? Just because a kid gets accepted to an expensive school or wants to go does not mean they get to go or even need to go. Not if they have to borrow $189,000.00

[Bloody Sam Roberts]

...though he's picked up some spots as an extra on TV shows. Tim is mostly trying to make ends meet by working as a waiter and bartender.

"Yeah...tell me all about it Einstein."

[Bloody Sam Roberts]

The FIRST thing a responsible parent does is to ensure that whatever his children's chosen avocation is to be is that it is one that can make money.

My son was interested in computers and technology but decided NOT to pursue a degree in something where he'd be outsourced quickly. He decided on a degree in nursing, since it is non-outsourceable and would make use of his background in the sciences.

He decided after a year of that program to switch to something in Med-tech...radiology, genetics, etc. He graduated from a State school with a usable degree and a modicum of debt.

He now works as a Supervisor of a large team at a genetics company. Paying down his debt and really making a go of it. Darn kid is one smart dude. I can't keep up with him when he starts talking shop.

[elteemike]

Mike Rowe Works Foundation...

http://profoundlydisconnected.com/

You wasted $150,000 on an education you coulda got for $1.50 in late fees at the public library...Matt Damon, Good Will Hunting...

[varon]

Technology management? What is that?

Perhaps it entails adjusting the colors on the PC monitor and balance the sound of the L & R speakers............

[bobby.223]

Yes they are. FReepers might not believe just how much they make.

[dfwgator]

[5th MEB]

Don’t you mean; “GET HIS HEAD OUT OF HIS ASS AND GET ANY JOB”?

[5th MEB]

When my daughter told me she was going to get her degree in EARLY ENGLISH LITERATURE, I told her that won’t put bacon and beans on the table.
When she came to me for loans and financial assistance, I told her “change your major to one of the hard sciences and we will talk”.
I did pay for her books and let her continue to live at home (meals included), but all other expenses were on her.
Considering the fact that she turned down a full scholarship at the Air Force Academy, right out of high school, I think I did more than enough.

[ladyjane]

Tuition and fees at Penn State is $17,500 a year. Less than that in past years.

So we get 70k to pay the entire tuition bill with a loan. The kid perhaps never worked or saved for his education.

Bad genes.