| User Info
| Consumer Credit: More Student Financial Rape in forum [Market-Ticker]
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Icanhasbailout
Posts: 9939
Incept: 2009-03-10
Imaginationland
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It is better to be the greatest fool, or never to have been a fool at all?
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Trades50
Posts: 4217
Incept: 2007-10-30
Land of Tax and Spend
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Many schools increased their tuition substantially. It just increases the loan amounts. Those loans for law and medical schools are very high. I know of one medical school that charges $53,000/year.
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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
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Rmonical
Posts: 2782
Incept: 2007-07-04
Glendale AZ
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Type - $300 million last sentence
I so agree with you on how we are financially raping our students.
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The truth is out there
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Flaps10
Posts: 5168
Incept: 2008-10-17
seattle
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My kid is just about to enter UW after spending two years at a CC. The tuition was just jacked up 25%.
On top of that they waited months past the deadline to see how much out of state tuition they could bring in, even though he was 4.0.
I don't know that I'm thankful he got in yet.
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"Better to die on your feet than live on your knees"
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Zzt
Posts: 3037
Incept: 2007-06-26
Glendale az
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Let's see : now that I have graduated HS should I
A. go to work where I have to do tough stuff like math ( counting change for $1 ) and other tough stuff ?...........or
B.Go to the state college where I can get away from Mom and Dad , party , drink , feel boobs , get laid and generally have one hell of a time fer myself........and it wont cost me a dime ?
F'n ay dude you crazy or what ??? No brainer.
Not everyone should go to college.
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Arpwatch
Posts: 3051
Incept: 2009-11-06
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Quote: Not everyone should go to college. Yeah it puts a dent in the M/F ratio. |
Mayorquimby
Posts: 13909
Incept: 2008-09-18
The Archaic Past
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Flaps use a calculator to decide if it's worth it. If not, don't send him.
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They who wish to hurt you, work within the law.
- Morrissey
Gold is theft.
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Blacknapkins
Posts: 409
Incept: 2008-10-28
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It's it funny how in the information age, when it's easier than ever before on the face of the planet to gain access to information, it's also the time when people willfully go into slavery for 'access' to it.
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Young new trader. Take anything I say with a grain of salt, and please don't hesitate to correct me. I'm here to learn, and hopefully make some money. :D
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Degaston
Posts: 2264
Incept: 2007-07-27
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My kids are dual citizens of the European Union and the USA with passports for each. My daughter is a Junior and my son is a Freshman in high school. Can anyone suggest good alternatives on college in the EU? My kids are basically fluent in just English.
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3/17/2013: Bullish on nothing - 100 percent in cash.
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Abn0rmal
Posts: 9261
Incept: 2009-01-10
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What exactly would stop students from piling on the debt to get their degrees then expatriating?
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Icanhasbailout
Posts: 9939
Incept: 2009-03-10
Imaginationland
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They'll have to stop anyone with unpaid loans from leaving. That part will get interesting...
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Flaps10
Posts: 5168
Incept: 2008-10-17
seattle
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Mayor,
I help the kid out with rent when he's thin and invite him to dinner just like my FSA son. I bought him a $750 Toyota and told him he gets one car from me. "F it up and you can figure it out on your own".
Other than that he's been pulling his own weight. His degree will be astrophysics, so I'm thinking the ROI is better than say, Japanese Anthropology.
He has taken one student loan and stuck it in the bank where it will stay. The rest is scholarships, internships, work study he works his ass off for and grants. All of it comes in sporadically and always late so he'll use it to make timely payments on bills and then put it back when the scholarships come in.
Hell, he was dead broke from early July through the middle of august, trying to eek out 300 calories per day out of his cabinets and he never said a word. It was only when I said "hey drive over here" that he confessed.
I only wish my other two kids could hold a candle to him
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"Better to die on your feet than live on your knees"
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Zzt
Posts: 3037
Incept: 2007-06-26
Glendale az
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Deg -
"The society which scorns excellence in plumbing as a humble activity and tolerates shoddiness in philosophy because it is an exalted activity will have neither good plumbing nor good philosophy: neither its pipes nor its theories will hold water." John W. Gardner
Suggest they become plumbers. In the U.S. they will make a very nice living. Dont know about the EU but I guess they need plumbing too.
Not everyone should go to college.
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Abn0rmal
Posts: 9261
Incept: 2009-01-10
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Icanhasbailout wrote..They'll have to stop anyone with unpaid loans from leaving. How would they know that you don't plan on returning from your post-graduation celebration in Chile? |
Latviski
Posts: 89
Incept: 2008-02-22
Baltimore, MD
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I wholeheartedly agree that education costs are out of control. However, if one plays their cards right, certain types of schooling can be result in rather lucrative lifestyles.
Example: I have friends in both Dental and Med school that are also now officers in the Navy. The Navy gave them, for starters, a 20k signing bonus. Additionally, they Navy covers ALL dental tuition, gives them $1800/mo living stipend, AND they receive active duty salary part of the time. Sure, you 'owe' them 1 year of service for each year paid. However, that 1 year of service is PAID (at a 6 figure salary, no less). In the end, they are making out like bandits. They receive active duty pay part of the time they are in med/dent school, they get all expenses covered and then some, they graduate with a guaranteed 4 years of salary (@ >100k), and they receieve a wide spectrum of experience. Once they decide to open their own practice, they'll have enough hands on patient experience to be pros plus a few hundred G's saved up. They will do very well.
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Bozonian
Posts: 19889
Incept: 2007-09-01
Saratoga Springs, New York
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Forget about blaming, fighting with, or crediting other people. The only real challenge in life, is with yourself. -- Me
Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
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Ripley
Posts: 96
Incept: 2010-09-26
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Laviski, your friends should make lieutenant (0-3) by the time that they graduate from medical or dental school. A lieutenant with four years of service makes about $60,000 a year in salary plus housing and food allowance, so it isn't quite as high as you think. It is a huge advantage to avoid the student loans, and they will be eligible for a retention bonus when their four years of service are up They also avoid the need to buy malpractice insurance while serving as a military physician or dentist.
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Steelhead23
Posts: 2043
Incept: 2008-09-09
Portland OR
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The baristas at my local coffee house are mostly college grads. Think about it folks. We virtually all want our kids to go to college. After all, we want them to have broad horizons. Yet, most jobs being created today are service-sector jobs. Making beds and flipping burgers do not require college degrees. On the other hand, some high school and college students have become rich thinking up cool stuff to do with this here internet miracle (heard just yesterday about 2 unemployed dudes coming up with an internet-based room-renting service that nets over $100 million/annum). The lesson I take from this is to teach your kids moxie. By moxie I mean the ability to spot a need (or create one) and making it happen. It does not have to be internet based - it could be hip clothing from used tires, or whatever. My point is that college was needed to fill jobs the 20th century technical innovation environment produced. We now live in the internet/globalized age and it is like a new frontier - to be exploited. So, unless your kid is dying to go to college, save your money, maybe send your little darling to an entrepreneur seminar or two, loan them a little money to get a start and encourage them to read Milton, Dante, and Marx in their free time. (They won't you know). And oh yeah, encourage them to fledge the nest at your earliest convenience. Virtually every young adult I have ever known has done things his/her parents would rather remain ignorant of.
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"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
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Granolageek
Posts: 31
Incept: 2011-04-18
Banned
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Ripley, Unless things have changed a lot, medical officers get a substantial bonus compared to other officers of the same rank.
I've cousin who was an army nurse from the 70s to the 90s, retiring as a colonel. She always had a relatively cushy deal.
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Jslique
Posts: 467
Incept: 2008-07-28
Melbourne
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If they are interested try and get them an apprenticeship or American equivalent as an electrician in a food industry.
Much cleaner and less physical than plumbing and so many opportunities afterwards and often free food.
Start with Milk then bread etc.
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Ben
Posts: 6208
Incept: 2009-10-09
The Distant, Glorious, Past
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"What exactly would stop students from piling on the debt to get their degrees then expatriating?"
Nothing. This is already happening. It's where ESL teachers come from. Two guys I knew last year. One - $500/month. The other - $2,000/month. Grad school, teach, expat - they are doing anything to kick the can.
Other sources of the student loan debt are people using them for living expenses, lying and gaming the system.
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"Why are you going to learn French?"
"Because I'm going to France," says Joe.
"I'm from the future. You should go to China."
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Latviski
Posts: 89
Incept: 2008-02-22
Baltimore, MD
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It's well over 60k for Navy Dentists; I know several that have gone through the program.
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Docj
Posts: 999
Incept: 2009-09-10
Duck & Cover
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My daughter (16, HS Junior) wants to be a chef specializing in pastries. Whatever, if she's good she'll have no trouble finding rich people to pay her to make artery clogging deserts for them. So we're looking at 2-years at CC (nice, local, cost-effective, she can live in the basement if she wants some "privacy") for basic culinary arts and then she wanted to do a 37-week, 2-night per week "school" in Boston (or close) to learn, specifically, how to make pastries. Cost was $27K for this thing, which seemed like a rip-off to me. After about 10-minutes working Google (and my Google-fu is quite weak), I was able to find several institutes in France (such as this, for example: http://www.gastronomicom.fr/internationa.... where you get a 6-month residence, with 100's of hours of hands-on training, plus room and board, for about 12K Euros (about $18K). At the end of the 6-months you get to intern in a French hotel/restaurant for 6-months, room/board + 400 Euro monthly stipend. Not bad for someone who will be 20-21 years old at the time - and ALL CHEAPER THAN THE DOMESTIC RIP-OFF HOUSE. I'm guessing that sort of experience might be a little more valuable for an aspiring pastry chef than would some certificate factory in downtown Boston - but what do I know, I don't work for The Fed. But it's simply amazing what one can find on the internet with a little motivation.
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The preservation of liberty depends upon the intellectual and moral character of the people. As long as knowledge and virtue are diffused generally among the body of a nation it is impossible they should be enslaved. - John Adams
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Smacktle
Posts: 1362
Incept: 2009-01-20
Texas
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If you can stand the lifestyle, trucking is an honezt living. Learn how to fix things. Nobody really can anymore. So many lucrative things to do if your willing to get a little dirty.
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The faults of the burglar are the qualities of the financier.
- George Bernard Shaw
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