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re: Here's a life lesson: Don't enroll into an online masters program at USC for $200K
Posted on 12/31/22 at 7:03 am to Street Hawk
Posted on 12/31/22 at 7:03 am to Street Hawk
If they made these student loans dischargeable in bankruptcy, the financiers of these loans would think twice about who they extend credit to
1
Posted on 12/31/22 at 7:09 am to JudgeHolden
quote:
Why is USC selling people a 200k degree that will never pay off?
Isn’t USC the one that got caught faking athletic participation for children of wealthy parents? AND bribery for grades? AND paying athletes to join their programs?
Posted on 12/31/22 at 7:11 am to Swagga
quote:
We have conditioned kids in high school that the only way you can do anything in life is get a degree. So you have people who have no business or desire to be in college taking massive loans out because they believe they have to get a degree. Colleges then prey on them with massive costs for things like women’s studies which have little to no return.
Reality is many people would be better off learning a skill or trade for a fraction of the cost and getting a productive job.
What does this NPC talking point have to do with the OP, though? She is capable of getting a degree and already got one. She clearly has the "business and desire" and got one in an area where she could get a job (not a women's studies degree).
She just picked an expensive grad school, which was stupid, but has nothing to do with her needing to go to trade school. She has a job.
Posted on 12/31/22 at 7:12 am to Street Hawk
I completed one from LSU Shreveport for 14k. I just needed the letters for my field to open doors for a higher tier of employment. Other programs were exorbitantly more.
Posted on 12/31/22 at 7:14 am to tigerinthebueche
quote:
Spare me. This woman is stupid and makes poor decisions. Simple as that.
This is the only correct answer.
Posted on 12/31/22 at 7:15 am to tigerinthebueche
quote:
It’s an overpriced POS degree. Same as buying a Jeep. But the buyer is still responsible for buying it.
It's not the same though. It would be the same if she bought a G-wagon when they were 300k, which she wouldn't be able to do. Now she probably couldn't even get a loan for a brand new mid level jeep. While the buyer is responsible, the lender has stake in the game. Universities get to make the lending decision without any responsibility to ensure the debt can be paid or is worth the risk. If the universities had to reasonably ensure the debt could be paid back within 10 years after graduation, they couldn't charge this over priced amount for the degree. It would ensure they look at job outlook, graduation rates, job placement, cost of the degree, etc. Most universities only assist with that, and there is no requirement that they do anything. In summary, an auto dealer will try to put anyone into a new vehicle, and a university/college will try to put anyone into a degree. Auto dealers treat people way better than universities, but only because they have to. Why don't universities have to?
Posted on 12/31/22 at 7:20 am to LNCHBOX
quote:
Why can't both things be true at the same time?
It’s 100% true. The Govt tosses out student loans like free candy so there is 0 incentive for schools to reign in costs. Sure, have every building on campus be brand new, have 150 vice chancellors, have a 175 person DEI staff. There are no ramifications. Students will get easy loans to pay for it
Posted on 12/31/22 at 7:22 am to Athanatos
quote:
If they made these student loans dischargeable in bankruptcy, the financiers of these loans would think twice about who they extend credit to
There is really only one lender now, the US Govt
Posted on 12/31/22 at 7:23 am to Street Hawk
I feel bad for her since she obviously didn't do the numbers beforehand (and why would she, she's a woman lol) but USC is not what I'd call 'prestigious'.
they take ANYONE if they are willing to sign and go into debt. Example
I went to a comparatively cheap Louisiana school for grad school. Their requirements? 3 letters of recc from current work supervisors (sealed), written essay on why I wanted to go to grad school, transcripts, 3.5 or better, multiple interviews in person, blah blah etc etc.
USC's requirements? None of that extra shite, just send your transcripts (2.5 or better!) and agree to pay their exorbitant tuition.
Of course it would have been a bad decision anyway but I kinda get it. That said she's probably paying peanuts on that loan of hers thanks to certain pay as you earn programs.
they take ANYONE if they are willing to sign and go into debt. Example
I went to a comparatively cheap Louisiana school for grad school. Their requirements? 3 letters of recc from current work supervisors (sealed), written essay on why I wanted to go to grad school, transcripts, 3.5 or better, multiple interviews in person, blah blah etc etc.
USC's requirements? None of that extra shite, just send your transcripts (2.5 or better!) and agree to pay their exorbitant tuition.
Of course it would have been a bad decision anyway but I kinda get it. That said she's probably paying peanuts on that loan of hers thanks to certain pay as you earn programs.
This post was edited on 12/31/22 at 7:26 am
Posted on 12/31/22 at 7:25 am to Street Hawk
These Social Worker degrees are 100% worthless…the ROI is on par with art/music degrees.
Posted on 12/31/22 at 7:27 am to USMCguy121
quote:
) but USC is not what I'd call 'prestigious'.
USC is definitely prestigious, but it's probably not worth it for a social work degree for someone in Iowa
There is a reason why rich people were paying 6-figures to get their dumbass kids into USC a few years ago.
Posted on 12/31/22 at 7:28 am to Eli Goldfinger
Nah man,they make good money doing therapy and can own their own business but they have to hustle a bit and take some risks early on.
Most people (and that goes for any job) however will never 'hustle.' and would rather work a shite job and complain about it.
Most people (and that goes for any job) however will never 'hustle.' and would rather work a shite job and complain about it.
Posted on 12/31/22 at 7:29 am to kywildcatfanone
quote:
This whole idea of a "prestigious " name on the degree is a huge farce.
Unless you’re from a very wealthy family and are trying to impress elites.
Posted on 12/31/22 at 7:33 am to Street Hawk
I listened to a podcast about a guy who had a degree in filmmaking. Moved to California to work in fi!m making less than 100K. Decided to get a master at Columbia. That master's degree cost more than 200K. And it didn't help much in increasing his income.
Posted on 12/31/22 at 7:35 am to Eli Goldfinger
quote:
These Social Worker degrees are 100% worthless…the ROI is on par with art/music degrees.
Sure if you go into work as a social worker for the state, or are salaried at some small therapy company.
You can make bank with a masters in social work doing therapy, but you have to do the typical business-building stuff like developing a reputation/book of business or taking the risk of building your own company.
Posted on 12/31/22 at 7:37 am to LNCHBOX
quote:
Why can't both things be true at the same time? Schools have gotten absolutely predatory when it comes to giving out huge loans they know can never be paid back or discharged via bankruptcy. They get their money upfront, what do they care? This system is broken
I completely agree and I’m not defending the universities at all. My point is this particular woman made a horrible financial decision. You can’t help that. Even if she was completely lied to by the university- she should’ve known better.
Seems like everyone wants to blame everyone else for their poor decisions. Especially when they get into student loan debt. It’s always “poor me, I got taken advantage of by …” it’s always, the bank, the university,etc. But you’re the one buying their sales pitch. You chose the school and the course of study. That’s on you. Or her, in this case.
Posted on 12/31/22 at 7:37 am to SlowFlowPro
Everyone should be a welder…except my kids.
Posted on 12/31/22 at 7:39 am to Eli Goldfinger
quote:
Unless you’re from a very wealthy family and are trying to impress elites.
Or if you're in a competitive field.
My shitty LSU degrees won't get me the opportunity to even apply for a good number of jobs in the legal world. A USC law degree? You'd only be excluded from the literal top of the top, but only if the firms were outside of USC's specialties.
Same issue with other elite jobs or jobs in the West. Degree prestige does matter, but how elite your sights are and geography matter.
The irony is USC's most prestigious degree is in film, but the top of that industry is more based in talent.
Posted on 12/31/22 at 7:49 am to SlapahoeTribe
quote:
Isn’t USC the one that got caught faking athletic participation for children of wealthy parents? AND bribery for grades? AND paying athletes to join their programs?
Correct, actor Lori Laughlin and her husband had a kid who couldn’t get into USC the normal route and paid USC admission people to get their daughter in. Laughlin was sentenced 2 months in prison and the husband was sentenced to 5 months in prison and they were fined around $400K.
Posted on 12/31/22 at 7:51 am to Street Hawk
She went to Mt Pleasant, Iowa to work as a community mental health therapist for $48k.
Why didn’t she stay in Cali where the mental health clients abound?
Why didn’t she stay in Cali where the mental health clients abound?
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