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Why?Shhhhh let WC respond first.
You were way out of line with those tax numbers.
How much did you pay yearly when you went through college?
Why?Shhhhh let WC respond first.
You were way out of line with those tax numbers.
What tax numbers? The 100 I subtracted from his monthly income?
Full time, the federal tax liability would be $39/month for a single individual. Besides, who's talking full time. That's crazy. Just some extra money. At about $10k income, there would be no federal tax liability.
Ok, assuming no taxes at all, you are down to an 833 dollar starting point. LOL!
Probably about half of the current tution. But, my wages and cost of living were also about half as much. To give you an idea, minimum wage when I was a teenager was $3.35/hr.
Ok, so instead of having saved $250 a month, he's saved $310. Does that make a significant difference?
And if you want to make $10K a year, you're working 27 hours a week at minimum wage instead of 40. (7.25 * 27 = 195.75 * 52 weeks a year = $10,179.) And, of course, you're working every week.
And I guess this person is living with a friend, or mom or something?
It was less than that when I started working.
What gets me is someone can make, requiring a smaller loan, by about $8 k annual working part time. People are going to whine "but I don't get all of it." So ing what. It's less money you have to borrow, or more spending money to have. Then, when you graduate, an employer will choose someone who had the commitment to work while going to school over the one who didn't, when deciding between two equally qualified candidates.
The point people are trying to make is that if you're on minimum wage, nearly ALL of that money is just going to the basics needed to survive. There's no "extra" to pay down student loans, which is likely why more and more college-age kids are living at home.
Well, that is the point of working while in school -- to pay for survival-related expenses. You pay your student loans AFTER you graduate and get a better job. At least, that's what I did.
Based on that data, I was right that my tution was about half the current rate.
That list only goes up to 2006 though, and considering that from 2001-2006 the average 4 year tuition (everything included) jumped from $13k to 18K, we can assume that the next 7 years made it jump to at least $22k, likely $24k per year.
Half of that would mean you went to college at the earliest 1997.
average cost of tuition for 2012-2013 is 22,261
http://money.cnn.com/2012/10/24/pf/c...ion/index.html
It's actually a bit more than double what I paid. Current wages are a bit more than double what I made back then too.
Best course of action is to get college cred in HS or take CLEP tests. Take a year at a community college for basic BS classes. Take final year or two at university.
Because if you are taking, say, micro economics or a language at that price, you definitely aren't getting your money's worth.
For what it's worth, that's my plan.
I really wish I had tried this.
http://clep.collegeboard.org/
No, what you assume is that it will be done with your children's money. Somehow having less children is the crux of your argument against en lements being paid for because you expect them to pay for it and not yourself.
Yeah, they are free for military if you pass. I've done a lot of my electives this way.
Language is the holy grail of those tests. One test, ~100 bucks, 12 credits.
ap tests are even better. I got 15 credits of german from an AP test I took in High School. I began college with 21 total credits and was only 3 classes away from a german minor.
They didn't offer any AP classes at good ol VHS when i graduated in 1995. I was pretty pissed when i discovered people had easy credits that were not available to me. Lol "GT" classes.
You actually do not have to take an AP class to take the AP test in that subject.
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