Skip to comments.Graduating Into Debt
Posted on 09/26/2007 6:03:53 PM PDT by DogandPonyShow
CBS) For accountant Alex Guzzetta, not a day goes by when he doesn't think about these numbers: $90,000 in student loan debt, $20,000 owed to the federal government and $70,000 to a private lender.
I think that the comment on the CBS web site says it best with sarcasm.
How hard did you have to look to find an accounting major who did not know how he was borrowing, interest rate, terms. etc.? I would "sure" want this guy doing my taxes, finances, etc.!
Remind me never to hire that guy as an accountant.
My Mom is an accountant and she got out of school in ‘96 with less than 10K in debt. $90K? Idiot.
It would appear by your postings that he isn’t the only one having trouble paying off those loans.
Sounds a lot like taxes, doesn't it? (if only the total government tax take were that small)...
In 1974 I had two jobs and still couldn’t finish out my senior year without help. So I had to take out a student loan. I paid it back - all $400 of it.
I pity these students now. I think it may all crash someday.
How the %^&* could a new accountant owe $180,000 in student loans??
Crap. He coulda got a big chuck of that degree at a junior college, and ended owing a 3rd to a 10th of that much.
Universities and colleges with a full four year undergraduate program actively recruit out of state and foreign students. In many states they get away with establishing caps on in-state or local students further compounding the problem.
Then there are special programs. For example, if you want to become an art instructor at a major university, or even a not-so-major university you quickly discover there is a shortage of top-flight instructors, and that most art programs are caught up in computer aided "design".
You must attend two such schools ~ both as an undergraduate and as a graduate ~ to even be considered suitible as an instructor.
There are a couple of states that have two such schools ~ most have none!
Many Freepers probably think of art as a waste of time. Your son, daughter, nephew or niece might not think so and would like to take a pleasant course learning to paint or draw for pleasure in later life ~ with no professors there who know what they are doing your relatives and descendants will not get that chance and will lead their lives as green eyeshade bean counters with nary a glint of happiness (outside of NFL on Sunday afternoons and plenty of beer and chips).
Anyway, that's not the only specialty field of study that results in some serious time spent paying serious out of state tuition.
Private universities already cost more than the state schools, and the situation is even worse.
I can appreciate that because it is the same way with music programs.
That said, 90K in accounting? C’mon.
Also, expenses for car, entertainment, liquor and Spring breaks, and PARTIES really add up.
The lack of communication between student-college-parent probably plays a role. What happened to his student adviser. Shame on him/her! There is no supervision for people such as this less than bright college graduate. He would never work for me.
Ah, he borrowed 90,000 dollars and he’s surprised at the amount he has to pay off each month? In some states, that’s the price of a house, hello, and this guy majored in accounting???
My parents paid for my tuition in return for weekend labor in the family business - but I took out a $2000 loan and bought a used xk-e. It will be worth more than my SS probably.
Dittoes with my tax load.
If you get a loan, it’s like graduating school with a 2nd mortgage.
Are you sure they won't go after your estate?
Kind of like an insurance policy or something.
Here, let me fix this for you...
Govt. taxpayers' loan
There, isn't that better. Hopefully the government will be able to take out a lien on your estate and or business to recover your theft...
Best to focus on getting the first two years completed at a nearby community college.
For private schools plan on being born rich.
There’s no “theft”. The risk of death of the borrower is worked into the fees charged at the time of borrowing.
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