Work where? To earn how much? In-state room, board, and tuition at a public college runs about $20,000/year.
And then there's this:
Posted on 07/14/2018 5:05:56 PM PDT by SeekAndFind
He got a job as a purchasing agent for the school. One of the benefits was reduced tuition for staff's family.
But I was expected to pay for the actual tuition, so besides carry a full load of classes each semester, I worked three part-time jobs to pay for my schooling.
My highest paying job of the three, paid 90 cents per hour.
Tuition was $145 per semester.
Why doesn’t jr take a semester or a year off and work while living at home to earn the tuition instead of having mom and dad take out loans?
Tuition has risen far faster than the rate of inflation every year since the 1970s. That was OK in the 80s and 90s when the economy was mostly good. That suddenly made a whole lot less sense when the tech bubble burst and then made no sense at all once the Great Recession started. Even highly qualified people were either struggling or long term unemployed during those years when all of Obama’s regulations were strangling business and cause the most anemic recovery from a major recession in American history. So what happens when those student loans that can’t be discharged in bankruptcy and accrue interest at 9% don’t get paid at all because people are out of work or having to take Starbucks barista type jobs? OOPS! A lot of student loan debt will never be paid off. The government caused a bubble by guaranteeing student loans and colleges took advantage by inflating what they charged - as anybody who has taken so much as Econ 101 could have predicted would happen.
That’s a good formula, and we should all counsel young people along those lines.
There’s a huge difference, in debt to get a degree in a field which leads to a good paying job/career path, and debt to get a degree in gender studies.
i’ve heard the student loan bubble could burst, much as the mortgage bubble burst a number of years ago.
We need to rethink the whole concept of student loans, in my opinion. If you get loans to get a degree in some field which leads to a good paying job/career, where you will get a job which enables you to pay off the loan, that’s one thing. It’s very different to get a degree in women’s studies, black studies, etc. which doesn’t qualify you for any sort of job/career.
Perhaps loans should not be given out if you are majoring in a useless field, useless in the job market I mean. Tough decisions should be made, about who gets loans and for what purpose.
At some point, we are going to care more about qualifications than which school a student went to.
In my career experience, nobody cares what school you went to. What’s important is that you have the degree in fields such as accounting, finance, nursing, and have the requisite state license for your field. Nobody cares where you got the undergraduate education.
Why doesn’t jr take a semester or a year off and work while living at home to earn the tuition instead of having mom and dad take out loans?
This is a great idea. If young people get some job, even at minimum wage, and save the bulk of their money, because of living with mom and dad, they could have tens of thousands saved up in a few years. This involves some changes in social norms and exercising deferred gratification, but this sounds like a good concept.
Work where? To earn how much? In-state room, board, and tuition at a public college runs about $20,000/year.
And then there's this:
I'm sure mom and dad won't mind supporting the kids until they've saved up enough to start college at 30.
...any number of places.
That's helpful. So where can they go work to earn and save the $20,000 needed for a year's tuition, room, and board at an in-state public university?
I'm not the only one, not by a long shot. He should stop mailing out resumes, get his @ss out there and start knocking on the doors of small businesses.
When I was in college, I worked in the summer, lived at home and banked every penny. I don’t know how much of what I earned off-set my tuition, room and board and books but I know it was a good chunk. Of course, my parents had saved for my brothers’ and my college education, which is really the way to do it, plus working. I graduated from college in 77. I never took out a loan.
Times are different; the cost is so wildly inflated, the stakes too high to risk lowering your GPA by working.
Agree wholeheartedly. You should have to take an economically useful field of study...ie science, business, engineering...something in which you can likely get a job that will enable you to pay back the loan...in order to get a loan. That would also incentivize American students to go into areas where we are short of trained people.
No Philosophy, gender studies, sociology, African studies, 17th century French Literature, etc etc unless you can pay for it.
I'll bet you were paying $20,000 a year in tuition, room, and board in 1977.
In fact, I know you weren't. In 1977 it costed well under $1000 a year to go to an in-state public college.
In 1966. Today that would be roughly $1127 a semester using an inflation calculator.
In reality, college today costs about ten times this amount.
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