Posted on 10/31/2022 5:17:44 PM PDT by grundle
Evidently she never took a math class.
> so most of the debt was accrued while going after her master’s degree.
The general rule of graduate degrees is that if you’re not getting paid for it (stipend or something) then it is a crap degree.
And it can’t be dissolved in a bankruptcy either.
Why blame them?? This woman was an adult who had access to free education. If she can't understand math, why blame her parents or her schools?
If you are in J-School the last thing they will teach you is basic finance and economics. It’s not required. And very few people won’t take those courses themselves. I think it’s incumbent on mom, dad and the high schools to make the kids learn basic life skills when they are still minors living at home.
I was quite fortunate that Engineering Economics was a requirement at Mechanical Engineering school and my own Dad wanted me to understand capitalism.
Yep.
I, and our son, never considered any graduate program that didn't pay US to attend. Stipend and tuition.
She easily could get a job as a teacher. A masters degree in today’s environment teachers are desperately needed, and they are taking teachers with high school diplomas in Florida at least. And she should’ve been paying as much as she could during the interest free time she could’ve really cut that debt down some, but like my nephew they were waiting on Biden to be their savior. Wasn’t he surprised, they thought they get 50 grand relief and reality is he might get 10. I tried to tell him to pay off the loan while they weren’t doing interest but they know better.
A good plumber or electrician can make up to 6 figures. And after he’s gone home for the day, or in a lull between jobs, he can study Marxist-Leninist history or basket weaving or whatever on his own dime.
At least not in that photo
Base x rate = percentage
That is taught in elementary school. Why blame parents if their child in her 30’s still doesn’t understand what they are signing.
They weren't allowed to, when banks controlled student loans.
Obama nationalized the student loan industry, and look at where we're at now.
-PJ
Stupid and greedy expecting everyone else to pay the bills. She is the perfect democrat bureaucrat.
I managed to get a master’s degree in one year while on a fellowship (non-thesis option), then had fellowships for two years while working towards the doctorate, but worked part-time the other years (either as a teaching assistant or in a library). That was when tuition, rent, and the cost of living in general was much lower than nowadays. I avoided incurring student debt because the job market was so uncertain that I didn’t know if I could get a job in my field. I was one of the fortunate ones who did land a tenure-track job but only after a number of temporary jobs.
IIRC, in 2005 the bankruptcy laws were changed—part of that change was that student debt could not be discharged. Prior to the law change student bankruptcies were not a big thing...
Schools and lenders saw this as a built in market...school prices rose-lenders freely lent money (just sign here...) and the not to savy kids fell into horrible debt.
Frankly, I have a journalism degree as I didn’t know what I wanted to do—i actually worked as a news director for a small AM station and met Presidents, Pope, Dali Lamas, as well as just plain Joes.
That gig lasted a few years and I ended up moving on and have been self employed in the Outddor Entertainment Industry for some 30 years...
Journalism is a course or two on the basic rules: ie, Writing for broadcasting is different that writing for print., but I digress.
Thre could be another class on the technical aspects of print or broadcast (meaning television as there is very little radio left) In the beginning every young cub reporter wants to be a muckracker but after a while, the reality of doing stories on sewer assessments hits closer to home.
I feel a bit sorry for this kid—30 and $110K in debt and no great stories involving hookers and blow to show for it...sigh....youth is wasted on the young.
Learn to code.
Well ... there's your problem ...
Dumber than a box of rocks.
Yes, I feel a bit sorry for the ‘kid’ too. But if you’re 30 years old and you already owe 18k why would anyone decide to get a master’s degree and pay for it - why would anybody do that?
You don’t go to graduate school unless the school is paying your tuition and giving you a stipend. The exception is if your company is paying your tuition, why not do it.
yup—$110K and no stories to share—no good time memories...one should have sumptin to show for the money...
Of course when I went to University, tuition was $97 a semester for 12 units. I had the GI Bill and plenty of beer money.
Tell sweetie that she is hardly paying enough to cover the interest due even at 3% for 30 years. In fact, I’m pretty sure she isn’t covering interest which is why the amount due is growing.
Don’t these children know anything at all? She better get smart soon because she has not started with much in either the looks or smarts department and time is not her friend in the former case.
Try this.
https://www.bankrate.com/mortgages/amortization-calculator/
My wife had student loans when we were married. I never knew a thing about them. She worked and I always considered her money her own since my job was to provide. She took the loans as her obligation alone. She was shocked at the amount some borrowed and how long it took her girl friends to pay it all off. She sewed her own clothes and lived frugally those college years. She could look like a million bucks in a sack though and even better in what she sewed for herself. Her parents were much older than most of ours, she never asked for more than they were able to provide her.
The guys I ran with never borrowed money. We all were able to work our way through school if we needed to and many of us did just that. Between throwing hay in the fall and spring (thanks to a friends Dad for the work), surveying (thanks to a professor) and a lab assistant income and then every hour I could work in the summer I never borrowed a dime. My summer was commonly at construction and between the day work and maintenance I did in the evenings I was hitting over 80 hours a week straight time plus another 20 in over time and union scale on a non-union job. In the 70s that was a good job. When our work ended my boss was able to hire me as a repair welder to rebuild barges for the little fleet. I had two blue work shirts and worked down in a pit by the river bank with no breeze at all in Little Rock. The shirts were tatters from the sweat and washing. Joe took pity on me and got a big bug blower, that helped some.
We went to a good state university and not our “dream” school and got an engineering degree and a now obsolete vocational home economics degree. Our objective was to get off the family payroll and find our way in life on our own. It was expected, we knew it and we knew others did it before us.
I graduated with 400 bucks, a pickup, a Honda 250XL, some clothes, a Magnavox stereo and a job way out in the desert of West Texas. I was a 22 year-old that asked the Exxon HR manager for a copy of the pension plan trustee’s report. Life was always serious for me.
We did not “time-out” to find ourselves, we did not dehydrate because we had to work hard, we did not melt down and have to go to a “safe space”. We also did not walk uphill through blizzards both ways to go to school. We just did what we had to do to manage and make it. We still do and have been these last nearly 50 years together.
That’s life cupcake and some days it really blows.
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