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I think that's selbstverstandlish. The original point, though, was that its not possible to work ones way through school today while expecting the same financial benefit as those who did it 30 years ago. There's definitely a diminished return there.
And if they were studying for that degree in todays world, they'd still have six figure debt at graduation.
Last edited by Agloco; 03-03-2013 at 07:52 AM.
I think that's selbstverstandlish. The original point, though, was that its not possible to work ones way through school today while expecting the same financial benefit as those who did it 30 years ago. There's definitely a diminished return there.
Last edited by Agloco; 03-03-2013 at 08:02 AM.
Sorry Darrin, I didn't see this earlier. I'm obviously not talking about the physical act of working, although the job market is quite bad. As I responded to WC, there are diminishing returns with work these days. Exiting a four year program with 10k in debt as you did is no longer a realistic goal IMO.
If you insist on a link, I can muster up a few but I believe that the fact in question is what prompted this thread in the first place.
I paid my own way using the 2+2 program at SAC. For those who don't know, you spend the first two years at SAC and the last 2 at just about any public univeristy. I chose SWT for their financial planning program and location, which allowed me to commute.
Tu ion at SAC is about $1200/sem for 15hrs and to my surprise SWT, now Texas State, has sky rocketed from $1500 my last semester to $4500 this spring. I paid my way working room service on weekends. At $4500/semester there would have been no way for me because you have to include gas, car, insurance, etc.... I simply didn't make enough.
Today I easily graduate with $10k in student loans.
Unless you are majoring in something super special or you have money to burn, there is no good reason to go to a private school.
I smh when I hear that someone went to a private school to become a school teacher.
+1 that the SAC 2+2 program is the best, most economical way to get a bachelors.
Having $10k in student loan debt is not bad at all. I think that's about what I had when I graduated in 1994.
Student Loan Bubble So Big It’s Trumping Credit Cards as a Spending Driver
http://www.nakedcapitalism.com/2013/03/student-loan-bubble-so-big-its-trumping-credit-cards-as-a-spending-driver.html?utm_source=feedburner&utm_medium=feed& utm_campaign=Feed%3A+NakedCapitalism+%28naked+capi talism%29
I believe that 2+2 programs are the way to go for most non-specialized degrees. If my daughters could graduate with just 10k in debt apiece, I'd be quite satisfied.
So? My wifes friend graduates from Creighton in a few months as a dentist. Shes interviewing at a few different places. Sounds like shes looking at $140-$200k per year.
FWIW she worked through her 4 yr and a year after, then didnt at med school. $500 k in debt. Sounds to me like thats not a bad investment there.
Holy crap, half a million in debt? I hope that job is in high demand
Cool made up anecdotes.
As has been stated in this thread numerous times, and as you just rehashed: Working one's way through school without ac ulating significant deb is no longer a realistic goal. There are, of course, some exceptions but this trend is by far and away the new rule.
Being able to pay off all student loan debt in five or so years is significant debt to you?
500K in debt is not significant? LOL!
You guys act like your getting minimum wage as a janitor.
Starting salaries of $140k-$200k. With bennies. She starts her new job in about a month i believe. And yes. It is in that range.
Half a mill doesnt sound so bad when her starting salary is that.
I don't care what your prospective salary is but if you don't think 500K debt is significant you're an absolute moron.
Id feel a lot more comfortable in her shoes tham someone who owed $75k and was looking at a $30k job.
Thats nice. I'd feel a lot more comfortable not having 500k in debt than having 500k in debt.
Nice way to avoid the comparison.
Oh you mean the comparison you brought up out of the blue to avoid your idiotic statement that 500k in debt was insignificant? LOL!!!!
Yeah, I guess I did avoid the complete red herring you dropped earlier in the thread. Oh well?
if you graduate from college into a job with a salary in the 90-95th percentile range for households, you might not be ed.
good point, cooler girl.
Who is stupid enough to go $500k in debt with an uncertain means of paying it off?
Significant in an absolute sense, yes, but such debt is easily carried at 120k per year, especially if her husband works at all.
It would take much longer than 5 years to pay it off however.
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