[goodwithagun]

Our local private school, Franciscan University of Steubenville, frequently sends students to my classroom for their early experiences. I'm shocked at how many of these students are in la la land when it comes to their education expenses. Many of these students are from out of state. They're charging $25K/year to get education degrees! They don't work so that they can “focus” on their studies. I worked a part-time job and I was a student-athlete. Our local economy has been poor for decades; however, if you can follow instructions and pass a drug test you can get a job here.

[sitetest]

Dear goodwithagun,

I guess my point is, when working part-time can achieve most or all the tuition money, it seems like a good idea.

When working part-time isn't going to pay for more than a small percentage of tuition, well, in for a dime, in for a dollar.

If tuition is $25K, and working half-time only nets $5K or $6K after taxes and expenses, it still leaves a big bill at the end of the day. So, why knock yourself out to finish with maybe $80K in loans instead of $100K in loans?

Why not focus on studies? Nowadays, the bachelor degree has been sufficiently devalued that increasing number of folks feel the need to go to grad school. But, at least in some fields, grad school can be selective. So, better to take on the marginal extra debt, but do better in undergrad, and have a chance at a decent grad school.

In education, however, some of these students may be smarter than you think. The regime has set up any number of ways to reduce or eliminate student loan debt as a teacher, if you teach in the approved places. Suffering through five years of teaching in an “underprivileged” school can eliminate much, or even all student loan debt. There are other programs to reduce and ultimately eliminate debt, as well. Some of these are income-contingent based. You pay a percentage of your income for ten years, and at the end, the balance is wiped out. Of course, you have to work in something "approved" by the regime, like,... well,... working for the government!

In that case, why not load up on the debt? You're not going to be paying it all back, anyway!

I worked nearly full time while an undergraduate. I graduated with more money in the bank than when I started school. But between scholarships, comparatively low tuition (in comparison to the present day), my parents’ contribution, and work, I was able to pay tuition without loans, maintain a car, and have a social life, besides.

For most kids, that's just not in the cards. If they want to go to a private university, debt rears its ugly head.

All the incentives are different. Folks respond to incentives.

sitetest