Posted on 12/19/2015 9:14:45 AM PST by C19fan
Because no one is able to co-sign her student loans, Ashley Fleming, a 24-year-old college senior with one more semester left, may not be able to graduate. With close to $100,000 in student loans, and no longer allowed to take another leave of absence to work, Fleming has resorted to crowdfunding her tuition and set up a GoFundMe page to ask for help.
(Excerpt) Read more at finance.yahoo.com ...
Her daddy worked for the government in D.C. for 30 years and is retired, and she wants to work in the government too. That's where the money is these days, so makes sense I guess.
She majors in Finance and Economics. She took time off to work to help pay for school. For some reason, AU won’t let her take time off before her final semester. I suspect they have a time limit on credits earned.
The biggest problem seems to be that she got suckered into going to her dream school. AU is $60,000+/year, and she’s $100,000 in debt, so I suspect AU gave her some money that she expected to continue to receive.
Not making excuses for poor choices, but the university has some blame in this I’m sure.
I’m trying, but I don’t feel any sympathy.
Does John Kasich still maintain ties to Gary Condit? “Inquiring minds want to know!”
American University’s endowment (as of 2014) was about $425 million.
If they don’t have enough sympathy for her situation to help her out, I’m not sure why I (or just about anybody else with less than a half-billion dollars) should.
What kind of idiot thinks it is a good idea to get $100k in debt
What’s her major?
Underwater left-handed basket-weaving?
Following the FR tradition of posting without reading, I see. (She did her first two years elsewhere).
Of course, that expensive education might have given her the skills to correct your weak grammar.
Wasn’t Condit from Callie. What would they possibly had in common. Hmmmmm m n
Economics, International finance and international affairs
She probably is in her eighth year for her BSC degree.
Finance and economics are pretty sound majors, not STEM to be sure but pretty good fields to develop solid careers.
I graduated from Arizona State University in 1969 with a business degree and had no student loans. My parents helped with books, food and incidentals but I worked three jobs year-round to cover the tuition costs and housing and never even thought about borrowing money I couldn't afford to go to college.
she’s in wash dc... earn it like all the other interns.
There should be a cap on student loans, maybe $50,000. Her loan will forever be an albatross around her neck. If there was a cap then the student would seek an affordable school.
I think too many parents are hands off with their kids college choices. First thing is a cost-benefit analysis. What will college cost me versus my income potential. $100K debt is no big deal for a doctor, dentist or the like but may as well be unpayable for a liberal arts major with a career aspiration to work for a non profit. She could have earned the same degree at a much cheaper school. Does the school name on the degree get you any more money? Outside of few select schools and majors the answer is no. Bottom line, don’t fall in love with a particular school.
Ashley. They’re always named Ashley. There are too many Ashleys.
And when she turns out to be unemployable... there goes the family home. They'll be looking at $600 a month payments at least.
$43,000 x 4 years = $172,000
You could buy a house for that. She will default, change her name, anything to get out of this debt. She will not be able to pay it off ever with her non profit job or normal gov’t job. She can only hope to run for office and get a job as congressman then she can get lots of bribes to pay this debt off. Meanwhile a person without a college degree getting any job will do far better then those that get worthless degrees.
$172,000 x how much interest on that debt?
http://www.bankrate.com/calculators/college-planning/loan-calculator.aspx
I typed in 30 years. Kept the 6% they had as default as I do not know the actual rate. The monthly amount is: $1,031.23
This other site shows rates up to 8.5%. I do not know how many years a student debt is so I kept the 10 years they had.
http://www.finaid.org/calculators/loanpayments.phtml
Loan Balance: $172,000.00
Adjusted Loan Balance: $172,000.00
Loan Interest Rate: 6.80%
Loan Fees: 0.00%
Loan Term: 10 years
Minimum Payment: $50.00
Enrollment Status: In Repayment
Total Years in College: 4 years
Average Debt per Year: $43,000.00
Monthly Loan Payment: $1,979.38
Number of Payments: 120
Cumulative Payments: $237,525.89
Total Interest Paid: $65,525.89
Raise the number of years as she would have to and it becomes astronomical to pay off. Example at 30 years.
Cumulative Payments: $403,673.16
Total Interest Paid: $231,673.16
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