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re: 3/4s of millennials are more than $100,000 in debt, most not from mortgages
Posted on 8/4/22 at 7:34 am to Puffoluffagus
Posted on 8/4/22 at 7:34 am to Puffoluffagus
quote:
19 pages late. - cost of attendance for LSU in state is like 100k for 4 years now. Tack on the 5th senior and ouch.
You used to be able to work in college and pay your tuition or pay your rent etc etc. Ain't no way you're holding an part time job these days and affording those things now.
It's complex and I can think of a multitude of issues that's gotten us to this state...govt guaranteed loans, the push that everyone should go to college including the Starbucks barista, on the flip side I see a college degrees being required for entry level positions, employers complaining there are no qualified candidates(does anyone do on the job training anymore), inflation pressures, etc etc.
While you can certainly attribute some things to the millennial culture..it certainly isn't the sole cause.
I type all this while I pay my $3k month on my 240k student loan balance.
anyone that is in state at LSU should be on TOPS anyways.
that pays a huge portion
a full time summer job in the plants or something similar is going to pay you enough to cover a big portion of housing for the year
a part time job should cover most of insurance/ food/gas/entertainment
if you are instate in Louisiana you shouldnt be taking out more than 5k per year max.
problem is most want to live like they did with mom and dad, have the nice new car with car note that requires full insurance, wants to go to dinner 3-4 nights per week and out to the bars every night.
sorry nobody should be having 126k in loans unless you are going to med school or possibly law school. and sorry if you have to take out that much you better be looking over ROI and you need to be thinking long and hard about the military.
sorry but that is ridiculous. but if you take out that much...its no big deal so long as you get a 65k+ job as your first job and bust your arse for 3-4 years and get that paid down or just accept it as a monthly payment you can afford.
liberal arts are a perfectly fine major for those that want to be teachers or are hustlers by nature. it is not ok for those that think things are just going to be handed to them.
2
Posted on 8/4/22 at 7:35 am to Lawyered
quote:
type all this while I pay my $3k month on my 240k student loan balance.
quote:
Man I know this feeling.. I have a bunch too.. not quite as much but still a lot .
My chiropractor was joking with me the other day about his and he said “ yeah I’m paying for 2 houses and only living in 1”
I felt that in my soul
how?? where did you go to school and are you a doctor? if not how the frick did you take this much out?
Posted on 8/4/22 at 7:42 am to lsu777
quote:
lawyered
quote:
where did you go to school and are you a doctor?
Damn baw I hope you didn't take out any student loans. If so, you should probably ask for a refund.
Posted on 8/4/22 at 7:49 am to JohnnyKilroy
quote:
Damn baw I hope you didn't take out any student loans. If so, you should probably ask for a refund.
wasnt really talking to just him, its why i quoted mutiple people. i kinda of figured he was a lawyer...but he better be a high powered ivy league lawyer if he took out that much.
as far as my education...i think I did ok.
Posted on 8/4/22 at 7:53 am to lsu777
quote:
problem is most want to live like they did with mom and dad, have the nice new car with car note that requires full insurance, wants to go to dinner 3-4 nights per week and out to the bars every night.
Most kids want to go to Reggies and get hammered on hot beer
Posted on 8/4/22 at 8:15 am to TigerintheNO
My finace and I have ZERO debt. (minus our mortgage)
Both of us went to college, I went to law school.
No debt.
Had no idea this was so rare.
Both of us went to college, I went to law school.
No debt.
Had no idea this was so rare.
Posted on 8/4/22 at 8:20 am to Fishwater
quote:
My finace and I have ZERO debt
What about you and your fiancée?
Posted on 8/4/22 at 8:21 am to Fishwater
quote:
My finace and I have ZERO debt. (minus our mortgage)
Both of us went to college, I went to law school.
No debt.
So you're parents are wealthy or you are in your 40s at least.
quote:
Had no idea this was so rare.
Not very smart for someone who went to law school then
Posted on 8/4/22 at 8:31 am to Mingo Was His NameO
My wife and I have 4 degrees between us (2 bachelor's, a master's, and a doctorate). We managed that without taking out student loans at all. We have a mortgage and a ~30k car loan as our only debt. I'm in my mid 30's and my wife is in her early 30's. 
Posted on 8/4/22 at 8:35 am to ibldprplgld
quote:
I never said or suggested eating out was an exhaustive list of why millennials are falling into debt. It was merely a single example of what I see to be a larger problem for my generation
quote:
Millennials are spending money they don’t have and expensive dinners out and Uber eats are likely playing a big role in that.
Why are you so full of shite? Do you not even remember what you said?
Posted on 8/4/22 at 8:38 am to Epic Cajun
quote:
My wife and I have 4 degrees between us (2 bachelor's, a master's, and a doctorate). We managed that without taking out student loans at all. We have a mortgage and a ~30k car loan as our only debt. I'm in my mid 30's and my wife is in her early 30's.
That’s a lot of school. Did you both have full rides including fees for all four degrees, or did you get some measure of outside help you aren’t mentioning?
Posted on 8/4/22 at 8:41 am to Epic Cajun
quote:sounds a lot like you both had families that helped pay for college tuition and living expenses. That is great and nothing to apologize for, but there are many that don’t have that luxury.
My wife and I have 4 degrees between us (2 bachelor's, a master's, and a doctorate). We managed that without taking out student loans at all. We have a mortgage and a ~30k car loan as our only debt. I'm in my mid 30's and my wife is in her early 30's.
This post was edited on 8/4/22 at 8:45 am
Posted on 8/4/22 at 8:43 am to Epic Cajun
quote:
My wife and I have 4 degrees between us (2 bachelor's, a master's, and a doctorate). We managed that without taking out student loans at all. We have a mortgage and a ~30k car loan as our only debt. I'm in my mid 30's and my wife is in her early 30's.
Congrats on having wealthy parents. I'm not mad at you, just don't lie about it. Good for them for being smart enough to save for their kids.
Posted on 8/4/22 at 8:45 am to Mingo Was His NameO
quote:
Most kids want to go to Reggies and get hammered on hot beer
and thats fine, just dont complain when you have 100k in student debt.
honestly there is no reason for a kid in the state of Louisiana to have more than 25k in debt.
school is almost paid for with tops
but honestly most people would be better off staying close to home or if at all possible staying at home and going to the local college as much as possible. Most peopel see the college expierence of goign away in the movies and tv but the ROI on some kid goign from Lafayette or Lake Charles goign to LSU over ULL or McNeese is essentially zero.
same with kids in nola with uno, kids in north la with Tech/ULM.
i guess what i am saying, unless you come from a wealthy family or you are willing to go work turnarounds during the summer and hold down a part time job during school.....then dont go off to school, its not worth it.
Posted on 8/4/22 at 8:46 am to lsu777
quote:
i guess what i am saying, unless you come from a wealthy family or you are willing to go work turnarounds during the summer and hold down a part time job during school.....then dont go off to school, its not worth it.
Or pick a good major and look at student loans as an investment. The ROI is incredible.
Posted on 8/4/22 at 8:47 am to lsu777
quote:
a full time summer job in the plants or something similar is going to pay you enough to cover a big portion of housing for the year
Nobody gets a summer job like this what are you smoking
Posted on 8/4/22 at 8:47 am to Mingo Was His NameO
quote:
Or pick a good major and look at student loans as an investment. The ROI is incredible.
that we agree on but 90% of the majors that have a really good ROI can be taken at the local school too.
i agree though, but know goign in you will have that debt if you choose that path.
Posted on 8/4/22 at 8:49 am to lsu777
quote:
i guess what i am saying, unless you come from a wealthy family or you are willing to go work turnarounds during the summer and hold down a part time job during school.....then dont go off to school, its not worth it.
wat
Posted on 8/4/22 at 8:50 am to lsu777
quote:
that we agree on but 90% of the majors that have a really good ROI can be taken at the local school too.
I can tell you from first hand experience the experience and opportunities aren't the same at schools like Mcneese or ULM or event LA Tech ad they are at LSU.
LSU offers so much more around the world than those regional schools do. Goldman Sachs isn't recruiting at Mcneese, they are at LSU
Posted on 8/4/22 at 8:51 am to Joshjrn
quote:
That’s a lot of school. Did you both have full rides including fees for all four degrees, or did you get some measure of outside help you aren’t mentioning?
We both had scholarships and lived with relatives during undergrad. But, that doesn't mean that our parents were wealthy.
I worked through graduate school and paid in cash as we went for both of us (I almost finished my graduate school by the time she started hers).
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