My student lons reached a new record too...0

Csb

Dead for Tax Reasons: My student lons reached a new record too...0

Csb

Worth every penny?

Full-time undergraduate students borrowed an average $4,963 in 2010, up 63% from a decade earlier after adjusting for inflation, the College Board reports. What's happening:

Oh noes!!!
$4,963 on a fixed rate loan that capitalizes quarterly!! However will they pay that off????

seems logical to me. there are more people than ever out of work borrowing money to go back to college to get an edumacation so they can get a job when they graduate. But there will not be any jobs. So then they will have to work 120 weeks to pay off their loans will occupying their parents basements.

RedEmily: I see alot of need for good people in the trades. Good paying if you get in a union and no college debt.

I wonder why more guys don't pursue that.

truthfully, that's been on my mind lately. i was considering going back (to a state school) for teaching. but i wonder if that time wouldn't be better spent learning something like plumbing or electrical.

i know that a master plumber can do really well.

cryinoutloud: You need a better job--------->
Can't find a better job?-------->
You need to go back to school------>
Can't afford school?--------->
You need a student loan-------->
Can't pay back your student loan?------>
(back to beginning)

rinse, repeat.

rtaylor92: tdyak: I don't believe banks should be held responsible for lending you $150,000 for a Degree in Poetry, but i feel that students should be held responsible for paying back every penny.

knew there would be someone in here making a comment like this. Teaching, Nursing, Engineering, Business, any type of graduate is having trouble finding a job or a job with a good salary right now. People LOVE to make the assumption that people out of work or the OWS protestors all have "Women's Studies" or "Poetry" degrees.

The messed up part is that a couple months ago, the Republicans were all screaming "where are the jobs, Obama, even the smart people are having trouble finding good work," then, without missing a beat, as soon as they saw people actually protesting about how American companies have produced 18 million jobs overseas while slashing 16 million here, they start calling the unemployed a bunch of lazy hippies who just don't try hard enough. Were I to believe Republicans, Obama has done a great job, there are plenty of jobs out there, and America is just chock full of lazy shmucks.

ddam: pxlboy: RedEmily: I see alot of need for good people in the trades. Good paying if you get in a union and no college debt.

I wonder why more guys don't pursue that.

truthfully, that's been on my mind lately. i was considering going back (to a state school) for teaching. but i wonder if that time wouldn't be better spent learning something like plumbing or electrical.

i know that a master plumber can do really well.

I too am thinking of trying to learn a trade if I lose my job. Are there trade schools around anymore or do you just have to somehow learn it on your own?

There is a local tech college that absorbed the other locals. The tuition is cheap and they have (as I understand it) a fairly decent job placement rate. I've worked in IT for the majority of my adult life, but I'm tired of this industry.

12349876: That stat is just for 2010. Assuming they're in college at least four years, that's 20k total.

The national average is just over $17k

Copypasta time:

Re: student loans.

Ok, so the feds have ALREADY figured this out, and came up with the Public Service Loan Forgiveness program. 10 years at a non profit + income based repayments = remaining debt forgiven.

This is EXCELLENT for those people (usually graduate students) who have high FEDERAL loan debt. Sadly, Uncle Sugar only lends about $31k to undergrads (or $57k if you're an independent) at most.

Most students have high PRIVATE loan debt, which of course has no forgiveness plan.

My solution is two part:

1) Comprehensive financial literacy starting in 5th grade and going though graduation, so students realize that borrowing variable interest rate loans to live in super fancy dorms is insane.

2) Massive federal spending for community colleges and state colleges, making those affordable at the CURRENT level of federal lending.

Having $31k in student loan debt when you graduate is an acceptable investment. Having $160k because you went to a private university and put your entire cost of living for four years on a loan is a mistake that ALL TOO MANY kids have made because they lacked the education to do it any differently.

But no, the federal government will not pay Sallie Mae for you.

plc5_250: Do you mean that is it possible - just remotely possible - that the old saw about "you have to go to college to succeed in life" that they shoved down our throats all through high school was a line of bull shirt? Say it isn't so!!!!!

/ Went to college for broadcast engineering
// School pulled curriculum while I was half way through it so I couldn't finish that
/// Ran out of money after that and had to move back with my parents (no loans)
//// Now a successful VMware Consultant
// Slashies FTW!

one of my friends dropped out of film school and went into tech support for EMC Corp who paid for his training and certs. he makes as much as a doctor with no degree or student loan debt

ddam: pxlboy: RedEmily: I see alot of need for good people in the trades. Good paying if you get in a union and no college debt.

I wonder why more guys don't pursue that.

truthfully, that's been on my mind lately. i was considering going back (to a state school) for teaching. but i wonder if that time wouldn't be better spent learning something like plumbing or electrical.

i know that a master plumber can do really well.

I too am thinking of trying to learn a trade if I lose my job. Are there trade schools around anymore or do you just have to somehow learn it on your own?

Aside from trade schools, there are also good paid apprenticeships out there. We just had an electrician out, as he was going he was teaching his two helpers about various parts of code, about the value of fixing mistakes instead of hiding them (as had been done in previous renovations), and about how to keep things neat and organized within the walls so it would be easy to change things if there was a problem later. Simply put, there's always a good demand for detail-oriented hard workers.

bacongood: The student loan model of this country needs to be redone. The loan companies are making the profit, but the government is fronting the risk. It is inane and one of them needs to step out of the picture.

Are you from the past? Because the FEELP loan program ended in 2010.

firefly212: ddam: pxlboy: RedEmily: I see alot of need for good people in the trades. Good paying if you get in a union and no college debt.

I wonder why more guys don't pursue that.

truthfully, that's been on my mind lately. i was considering going back (to a state school) for teaching. but i wonder if that time wouldn't be better spent learning something like plumbing or electrical.

i know that a master plumber can do really well.

I too am thinking of trying to learn a trade if I lose my job. Are there trade schools around anymore or do you just have to somehow learn it on your own?

Aside from trade schools, there are also good paid apprenticeships out there. We just had an electrician out, as he was going he was teaching his two helpers about various parts of code, about the value of fixing mistakes instead of hiding them (as had been done in previous renovations), and about how to keep things neat and organized within the walls so it would be easy to change things if there was a problem later. Simply put, there's always a good demand for detail-oriented hard workers.

Dig it. I might just go down to the tech school this week and look into that. It could be worth pursuing.

That's what Mike Rowe was on about: We have devalued hard work in this country. We see anything less than a white collar job as failure.

farknozzle: Still $150k in the hole but declining at a steady rate of $20k+/yr.

High five, dude. I'm 81k deep myself, down from 131k at the peak. The problem is, I have 2 much younger siblings that are about to go to college, and I really want to help them pay so that they don't emerge buried themselves. They might not get as lucky as I did with eventually finding a job after school.

And then of course it will be time for my parents to retire, and they disconnected their 401ks years ago in order to deal with their underwater mortgage. Hopefully by that time my bro will be out of school and able to help a little. Still, I'm pretty sure that I'll be living with roommates into my 40s.

groppet: pxlboy: RedEmily: I see alot of need for good people in the trades. Good paying if you get in a union and no college debt.

I wonder why more guys don't pursue that.

truthfully, that's been on my mind lately. i was considering going back (to a state school) for teaching. but i wonder if that time wouldn't be better spent learning something like plumbing or electrical.

i know that a master plumber can do really well.


I now wish I had Id love to learn metal working or cabinet making. Maybe make some high end furniture. My dad can pull an entertainment center from his butt. Damn him for not showing me more!!!!

I know a guy, actually my aforementioned friend's father-in-law, who builds Adirondack chairs in his garage and I hear is making a killing on them. They can go for $200 a pop or something like that...and that's unpainted, I think.

lamecomedian: "one of my friends dropped out of film school and went into tech support for EMC Corp who paid for his training and certs. he makes as much as a doctor with no degree or student loan debt"

How much do doctors without degrees usually make, annually? And how do they manage to get malpractice insurance?

I mean, he doesn't have an IT degree, but makes about 200k/yr. Forgive my lack of clarity.