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Started By
Message
Your thoughts about student loan debts?
Posted on 12/30/16 at 10:06 am
Posted on 12/30/16 at 10:06 am
Here's my wife and I's story:
My wife has wanted to be a Physical Therapist since high school.
She gets her undergrad at a local college. Lives at home for 2 years, moves into a house with friends for 2 years just to get the experience of living independently. Gets into PT school. Very difficult to work and go to school at the same time. Parents are middle class and are not able to help very much. She takes out over $100,000 in loans in order to pay for school, housing, food, etc. She graduates on time and gets a job immediately. Been at her job for 5 years and does pretty well.
Student loans have basically set us back about 8 years. We pay over $1,300 a month and have 3 years left. She'll be 8 years out of school (33 years old).
I guess my question is 2 fold and possibly contradictory:
1. We knew what we were getting into. Why would we expect the government or anyone else help us climb out of it? Why should the government fund your BA in Music Appreciation?
2. There are times when I can't help but feel like, frick, we are doing the right thing, why does it feel like we're being punished? She got a job that will help people, will help her stay employed as long as she wants, etc. Is there a solution to this?
Possibly less assistance/TOPS that goes towards useless undergrad degrees and more assistance to Medical and other Graduate programs that will serve society?
My wife has wanted to be a Physical Therapist since high school.
She gets her undergrad at a local college. Lives at home for 2 years, moves into a house with friends for 2 years just to get the experience of living independently. Gets into PT school. Very difficult to work and go to school at the same time. Parents are middle class and are not able to help very much. She takes out over $100,000 in loans in order to pay for school, housing, food, etc. She graduates on time and gets a job immediately. Been at her job for 5 years and does pretty well.
Student loans have basically set us back about 8 years. We pay over $1,300 a month and have 3 years left. She'll be 8 years out of school (33 years old).
I guess my question is 2 fold and possibly contradictory:
1. We knew what we were getting into. Why would we expect the government or anyone else help us climb out of it? Why should the government fund your BA in Music Appreciation?
2. There are times when I can't help but feel like, frick, we are doing the right thing, why does it feel like we're being punished? She got a job that will help people, will help her stay employed as long as she wants, etc. Is there a solution to this?
Possibly less assistance/TOPS that goes towards useless undergrad degrees and more assistance to Medical and other Graduate programs that will serve society?
47
Posted on 12/30/16 at 10:09 am to LETSGEAUX2
Our education system top to bottom needs overhaul, competition is the key.
You need to pay your bills and stop whining.
You need to pay your bills and stop whining.
Posted on 12/30/16 at 10:10 am to More&Les
Again, not whining. I do not expect any help. We pay extra every month to knock these things out.
Posted on 12/30/16 at 10:10 am to LETSGEAUX2
There shouldn't be government backed loans. That would make the cost of degrees go down quite a bit. It would also mean a lot less students. But as you pointed out, a lot less wouldn't be bad since most of it is wasted anyways.
Posted on 12/30/16 at 10:14 am to LETSGEAUX2
quote:
Your thoughts about student loan debts?
Don't take out a student loan.
It's better to work - at least on-and-off - even if it means taking longer to graduate.
If you do take out a student loan, treat college like a vocational school and major in something which will immediately translate into a career. No art, history, etc...
Posted on 12/30/16 at 10:15 am to LETSGEAUX2
1. You shouldn't expect it, and the government shouldn't be funding anyone's education past high school.
2. Your wife made a choice. Choices usually have a cost associated with them.
As for the cost of college/university education these days, administrative bloat is the primary driver. Lots of arguments to be made about why that bloat exists.
2. Your wife made a choice. Choices usually have a cost associated with them.
As for the cost of college/university education these days, administrative bloat is the primary driver. Lots of arguments to be made about why that bloat exists.
Posted on 12/30/16 at 10:16 am to zatetic
this right here. the government needs to get out of the business of financing degrees via loans.
Posted on 12/30/16 at 10:19 am to LETSGEAUX2
Welcome to the real world. Pay your debt back like the rest of us had to, quit melting and be thankful for what you do have.
Posted on 12/30/16 at 10:20 am to kilo
quote:
the government needs to get out of the business of financing degrees via loans.
Agreed...the byproduct of these loans has been huge tuition increases.
Posted on 12/30/16 at 10:23 am to Eli Goldfinger
quote:
Agreed...the byproduct of these loans has been huge tuition increases.
start with the loans and move on to remove tenure and watch the tuition rates bottom out.
Posted on 12/30/16 at 10:25 am to LETSGEAUX2
I paid mine and I expect everyone else to do the same.
Posted on 12/30/16 at 10:28 am to LETSGEAUX2
without government frickery, finishing grad school wouldn't cost near $100,000 for so many different fields.
Posted on 12/30/16 at 10:30 am to Eli Goldfinger
The economy for college grads is shite. Putting off graduation/gaining experience to save money is a fool's errand. Tuition only goes up anyway.
Posted on 12/30/16 at 10:31 am to LETSGEAUX2
Now imagine owing 100k in student loans, graduating into a job market that offers zero opportunities, and having to take a retail job vacuuming floors just to keep the lights on while sending out thousands of applications for entry level positions that are being given to women and minorities. That was what I graduated into with a Business degree. Please talk down to me more 
eta: I went back and got an accounting degree and now am paying back my loans. Should i act like i am better than those struggling to make payments now because I can afford to?
eta: I went back and got an accounting degree and now am paying back my loans. Should i act like i am better than those struggling to make payments now because I can afford to?
This post was edited on 12/30/16 at 10:33 am
Posted on 12/30/16 at 10:36 am to ChexMix
The cost of attendance has gotten beyond absurd. Louisiana state schools are remarkably low cost relative to the rest of the country yet we are talking $5k in tuition per semester(TOPs will not
Be around in 5 years), 6-8k in rent, food, utilities, gas, misc, etc. Summer or part time jobs are not going to pay those kinds of costs.
Be around in 5 years), 6-8k in rent, food, utilities, gas, misc, etc. Summer or part time jobs are not going to pay those kinds of costs.
Posted on 12/30/16 at 10:37 am to kilo
quote:
move on to remove tenure
The professors aren't the problem. Their pay has remained relatively flat over the years. It's already more common for universities to hire "adjunct professors" that are not tenure track as well.
The problem is the enormous explosion of high paying administration positions.
Posted on 12/30/16 at 10:44 am to LETSGEAUX2
quote:
2. There are times when I can't help but feel like, frick, we are doing the right thing, why does it feel like we're being punished? She got a job that will help people, will help her stay employed as long as she wants, etc. Is there a solution to this?
Yet you'll go borrow money to buy a house that will take you 20-30 years to pay off. If that doesn't piss you off then neither should a 100 grand loan to pay back that in the meantime will help make that house more affordable because of that 100 grand loan. It's a vicious cycle grasshopper.
Posted on 12/30/16 at 10:45 am to johnnydrama
Justa out of curiosity, but how much did your schooling cost and what year did you start/finish?
Posted on 12/30/16 at 10:46 am to LETSGEAUX2
Your wife makes bad decisions. Taking a loan out to pay for rent and food should be illegal. She, like the rest of us, should have worked to pay for those. Live in a cheap apartment and eat ramen noodles. She is part of the problem.
Posted on 12/30/16 at 10:51 am to LETSGEAUX2
Most people who owe that much spread payments over 20 or 30 years.
If you feel poor because you paid it off over 8 years, that's on you.
And, you knew the cost going in.
If you feel poor because you paid it off over 8 years, that's on you.
And, you knew the cost going in.
This post was edited on 12/30/16 at 10:52 am
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