College debt

[Frndlefire]

"The average debt for a college graduate has soared 50% in the past decade" http://www.usatoday.com/money/perfi/general/2006-02-22-student-loans-usat_x.htm

So many of us here are in college or are planning on going to college. I'm sure a lot of us are going to have to take out loans as our parents can't cover everything. How do you guys feel about the cost of education becoming increasingly expensive while the neccesity of a college degree is a requirement for most good paying jobs...

[GeorgiaMiddie2]

it's all supply and demand... more people are demanding to go to college and get a degree, since many jobs require one, so the price obviously will go up. i think it's ridiculous how much we pay, but but apparently not so ridiculous that i'm not willing to pay it. the market has set the price of education...

[TheKOB]

Here in SC the state is decreasing the funding to the universities which has (obviously) led to tuition increases. To be more insulting, the state decreases the allotment to the schools during that year (ie "hey, you've got a cool mil this year" come june it changes to "hmmm, how about 750,000?"). On top of that, an alum of USC is trying to whip up support for a bill requiring USC to admit 70-80% in state students, which pay about half of what out of staters pay (on top of that, what would that do to our lacrosse team?!?).

Recently (to add insult to injury) despite decreasing the funding, they're trying to cap tuition price. Support from the state has decreased from 50% of the school's budget down to 25% and it's creeping lower.

[GeorgiaMiddie2]

same thing is goin on in georgia... i paid another couple hundred dollars for school this semester. this is freakin purdrue and his "education friendly" campaign. Plus, on top of it all, we're adding on to the RAC, our student athletic center. that hiked our RAC fees up about 200 bucks per student.

[TheKOB]

same thing is goin on in georgia... i paid another couple hundred dollars for school this semester. this is freakin purdrue and his "education friendly" campaign. Plus, on top of it all, we're adding on to the RAC, our student athletic center. that hiked our RAC fees up about 200 bucks per student.

we have the education lottory in sc. basically it just provides scholarships to high schoolers who have above a 3.0. That's all well and good, but at least something should go to fund higher education.

it all seems to benefit middle schools, elementary schools, and high schools, but they're still hurting the colleges.

I'd prefer that USC just shift to it's on money, like I believe UNC does. Eventually putting up with the control the state has over the school versus the money it contributes isn't going to be worth it...

[CavsDefense]

I'm heading to college next year, and it's going to be $24,346 a year. (That's everything, Books, Room and Board, Transportation fees etc.)


Good thing my family is on the poverty line, I don't have to pay a thing!

[fossil8412]

Good thing my family is on the poverty line, I don't have to pay a thing!

Nice reasoning...

Well, not all schools are overly expensive. In fact, princetonreview.com rates colleges as "best value colleges" and what not. Also, public colleges are VERY reasonable. Look at the tuition in-state for Chapel Hill (http://www.princetonreview.com/college/research/profiles/generalinfomore.asp?listing=1023944&ltid=1&intbucketid=) , a very high calibur school. Also, look at the in-state tuition for UVA (http://www.princetonreview.com/college/research/profiles/generalinfomore.asp?listing=1022826&ltid=1&intbucketid=) . Though I realize that a lot of the fun that comes from college is leaving home, it does not have to be that expensive. Also, I realize that this does not cover board and books, but in relation to private colleges, those are excellent deals. Prominant schools aren't always overly expensive.

[CavsDefense]

Nice reasoning...

Well, not all schools are overly expensive. In fact, princetonreview.com rates colleges as "best value colleges" and what not. Also, public colleges are VERY reasonable. Look at the tuition in-state for Chapel Hill (http://www.princetonreview.com/college/research/profiles/generalinfomore.asp?listing=1023944&ltid=1&intbucketid=) , a very high calibur school. Also, look at the in-state tuition for UVA (http://www.princetonreview.com/college/research/profiles/generalinfomore.asp?listing=1022826&ltid=1&intbucketid=) . Though I realize that a lot of the fun that comes from college is leaving home, it does not have to be that expensive. Also, I realize that this does not cover board and books, but in relation to private colleges, those are excellent deals. Prominant schools aren't always overly expensive.

I admit, the school I will be attending is a private school (Wesley College, Dover Delaware), so that's why it's so much. On that same note, the University of Delaware is about $15,000 cheaper, but has about 30,000 more kids. I like the idea of having smaller classes (Wesley has ~7000 students).



...not to mention the fact that the University of Delaware denied me. :(

[Frndlefire]

Nice reasoning...
Isn't it though? I mean, he's poor...it's obviously his fault for being lazy. He could be paying for college himself like normal, upstanding individuals if only he weren't so damn lazy and not caring about it....

[RockStar]

Way I see it is if you can't afford the big ticket private institutions due to family money, scholarships, your own savings, loans, or some combo thereof, you have a couple choices:

-either sell your soul the the armed forces, or,
-swallow your pride, and find a respectable public, in-state college.

Good luck to anyone that tries, but make sure you know that there are options (SKILLED TRADES*) that can provide a rewarding career without $100K in direct costs over four years.

Note that if you're spending $25K on college, you're also costing yourself the ~$30 to $40K per year that you'd make in many labour jobs.

Think about that for a minute, real cost of college could be $65K per year!!! Put that another way - if you graduate, and start out earning a huge $100K per year, it could be like 8 years before you break even on your college investment! Then think about how few graduates actually start out at $100K per year, and realize that it actually might be a 15 year, or 20 year payback.

Moral of the story - don't go to college just for the sake of going to college. It can be worth it, and there's no experience like it, but for God's sake, make damned sure you know exactly what you want to get out of higher education before you invest your time and money!

*I have an engineering degree and do OK. It cost me four years of my life and a whole pile of money to earn this degree. Now, there are plenty of skilled and semi-skilled tradesmen on my construction site that earn more than I do. They also had the bonus of not wasting four years of their lives and being paid fairly well as apprentices/labourers while they were learning their trade.

[MountainGoat22]

Florida has a program called "Bright Futures". Depending on your SAT scored and over all GPA, the state will pay either 75% or 100% (if you have a good SAT and GPA) of your tuition if you go to an instate school. But its just cause of the huge amount of tourism dollars coming in. I think there needs to be more state regulated programs that give students money for school.

[ColtsLax]

Hey, if you cant go to college, go to a tech school and get cisco and microsoft cetified, Youll mkae more money your first year out, than most college grads make after 5.

But im going to a private Catholic college, no matter who accepts. My father put away a lot of cash when he was younger and sold a division of his company, so im covered. i dont know about my sister, but who cares.

[franks2089]

I can get cisco certified through my school for free so I might take that next year just to say I know how.

I'm glad that my family has the money to put me through college so I dont have to. Really sucks to have all the debt so early.

[Coach_Goldberg]

Anyone hear about 2007 budget cuts for Financial Aid?

[stegmakk]

i went to a private school some time ago...it was about 25k/year...i HAD scholarships...but lost them...my parents couldnt pay much so i took out loans...
walked away without the degree and about 50-60k in debt...i have since finished my degree through online classes and have paid off all but about 6k...

my advice to any future little stegs' would be to do great in HS...get a entry level customer service job at a company that has tuition reimbursement...that way you not only get a paycheck, but also get a company to pay your way through college...

[OldGoalie]

*I have an engineering degree and do OK. It cost me four years of my life and a whole pile of money to earn this degree. Now, there are plenty of skilled and semi-skilled tradesmen on my construction site that earn more than I do. They also had the bonus of not wasting four years of their lives and being paid fairly well as apprentices/labourers while they were learning their trade.

Indeed there is a cost/benefit analysis you must do, but the big difference is that while those skilled tradesmen may make more money now, their earnings trajectory is flat, while yours could easily rise. As someone else with an engineering degree, I can attest that having that degree opens other doors whether you stay in engineering related work or not. The mindset and problem solving ability that you gain school, as well as the degree itself, opens up many other avenues to you that are not available to tradesmen. Unfortunately, this is an education biased world, and people with more degrees tend to get paid more in the LONG RUN, not necessarily in the first 4-5 years out of school.

[RockStar]

Indeed there is a cost/benefit analysis you must do, but the big difference is that while those skilled tradesmen may make more money now, their earnings trajectory is flat, while yours could easily rise........

You would think so, and in theory it makes total sense.

However, In practice, parents have been so eager to push their kids into post-secondary educations (any type of higher, no matter how directionless!), and discourage them from working with their hands for a living that we have created a huge shortage of qualified workers in a number of construction trades. By basic supply and demand - the price of labour goes way up.

We're seeing tenders in some parts of North America close at 40% above estimate. The reality is that it's a contractor's market. To get a job finished on schedule, contractors are forced to raid other companies, poach their workforce, and then overpay the workers they poached.

This could take many years to correct itself.

[BTlaxripper]

Thank God for scholarships.

College Expense Per Year: $29,000
My Scholarship: - $25,000

I get to go to college for $4,000 a year, I'm so happy. I might even get bumped up to a full ride.

Colleges are getting overcrowded, more people are realizing that to even survive you have to go to college. Hence prices going up.

[GeorgiaMiddie2]

we have the education lottory in sc. basically it just provides scholarships to high schoolers who have above a 3.0. That's all well and good, but at least something should go to fund higher education.
yeah, same here... we call it the HOPE scholarship, but most kids lose it after their first year, including me, so i'm spending around 12k a year on school, plus housing and food, and, well... beer.

[OldGoalie]

You would think so, and in theory it makes total sense.

However, In practice, parents have been so eager to push their kids into post-secondary educations (any type of higher, no matter how directionless!), and discourage them from working with their hands for a living that we have created a huge shortage of qualified workers in a number of construction trades. By basic supply and demand - the price of labour goes way up.

We're seeing tenders in some parts of North America close at 40% above estimate. The reality is that it's a contractor's market. To get a job finished on schedule, contractors are forced to raid other companies, poach their workforce, and then overpay the workers they poached.

This could take many years to correct itself.

Well, I agree that many kids go to college and end up studying things that don't well prepare them for a career, let alone a good paying one, but it's hard to ignore education on a resume. As I said, over the long haul, it tends to lead to bigger pay. I think the construction boom is a short-medium term phenomenon that will fizzle when the general economy does.

That being said, I agree there is absolutely nothing wrong with working with your hands for a living. This country needs skilled tradespeople and it's still an honorable profession.

[BTlaxripper]

yeah, same here... we call it the HOPE scholarship, but most kids lose it after their first year, including me, so i'm spending around 12k a year on school, plus housing and food, and, well... beer.

Florida has the same thing.

I had enough for %100 to FSU, too bad I'm moving. . . o well, that's the breaks.

Thank God for small private colleges.