Student loans.. Who has them?

[Grimpala]

My wife got accepted to the University of Hawaii on a full ride, but her parents wouldnt let her go, so to get back at them she went to Baylor.

They had to finance that, so now we have ~$75,000 in student loans. Take it she's a CPA, but she is still young in her career and isn't making she's worth.

I on the other hand went to a local school and $27,000 later I walked out with a BS in Construction Science paid in full.

For a while I was making more than she was, everyone is right about needing to teach kids how to handle money in life.

[A+]

Only if you're hispanic or black. He knows he's lost whitey.

So i should apply for student loans?

[Gaber]

College is a joke. These universities will soon realize that enrollment will start to decrease if they continue to push tuition up every year.

[gav91183]

Should have stayed ME if you wanted to make more money.

Yeah that would have been the logical thing to do but Cal 2 kicked my ass and I would always find shortcuts for the desired outcome and the teachers never did like that. Always wanted to coach, so went that route.

As for the comments about a financial class, I think that would be a good idea or hell even a lesson about it. When I went to college I was a first generation college student in my family and we had no idea what it was going to cost. Even with dorms, meal plan, classes, books and etc. we didnt know. So I took out WAAY more than I needed and then pissed away the rest. That's what happens when you get a few thousand dollar refund check at 17 and you want to take a girl out, get new shoes or a Playstation. As I got older, the less I took out because I matured and realized OH CRAP! this is going to kill me. I was at Tech for 6.5 years because of changing majors and it was a great time but it's costing me now!

Almost everyone I know has at least one form of student loans. Whether it was from a company, the government or credit cards to pay for books. The cost of higher education WAY over charges for the education and degree you get. Those with student loans and CC debt are living with their parents, driving beater cars and trying to make ends meet. For me, Student loans take up about 20% of my take home of my paycheck each month! That could be rent, savings, food, bills, car mods whatever I wanted it to be. But instead it goes to a high interest loan. The only saving grace I have is being a teacher is that most of my loans will be forgiven if I work at a Title 1 school for a certain period of time (believe its 5 years), and I have been there for 1. Of course this school pays less and is more stressful than any other school I have been at but my job previous to this one was cut because of budget cuts when the Texas Govt decided to cut district funding.

This lays it all out pretty good:

http://financemymoney.com/the-profit...stry-yet-what/

God that is depressing. I feel horrible for those people that get caught up in that shit. I figure an AA from TCC runs about 5-6 grand including books. Can't imagine paying 30k for someone to show me how to upholster a car seat.

[Silverback]

18 hours left, no student loans. Masters starts in spring, no loans planned to finish it either.

[Broncojohnny]

This lays it all out pretty good:

http://financemymoney.com/the-profits-of-education-%E2%80%93-how-university-of-phoenix-and-other-for-profit-schools-survive-and-over-charge-students-because-of-government-backed-loans-billion-dollar-growth-industry-yet-what/

[Broncojohnny]

In addition, I think a lot of it is a general failure from all sides to communicate "good" student loan debt and "bad" student loan debt. If you're living off student loans and going to UT for a Bachelors in Liberal Arts, you're never going to pay that shit off making 30k a year for the rest of your life. If you use them to get an actual career centered degree, then it can pay off big time.

I still think high schools need to have a basic budgeting or common sense "life" class that is required before graduation. We're teaching kids about everything except one of the most important parts of life: Making smart decisions with your money. All that time in high school "preparing for college" that ignores the most basic aspect of the point of college: to educate yourself in a way that will increase your earning potential.

Indeed, they will give student loans to anybody for any degree you can imagine. It didn't use to be like that. Even when I was in the school in the mid 1990s they just wrote me a check at the beginning of the semester, I could have went to Vegas for all they cared. A lot of that money went into mustang parts. lol

There is little hope of most of these people paying this debt off in a reasonable amount of time. When they can't, the government has to pay for it. The vast majority of degrees are worthless in and of themselves, no one mentions to these kids that hard work is more important than that piece of paper.

I totally agree with the comment about a financial class. It should be like home economics.

This is going to be another thing that blows up in the next few years. Cheap easy government money has skewed the market for student loans just like it did for mortgages. Kids coming out of college these days are going to be fucked.

In addition, I think a lot of it is a general failure from all sides to communicate "good" student loan debt and "bad" student loan debt. If you're living off student loans and going to UT for a Bachelors in Liberal Arts, you're never going to pay that shit off making 30k a year for the rest of your life. If you use them to get an actual career centered degree, then it can pay off big time.

I still think high schools need to have a basic budgeting or common sense "life" class that is required before graduation. We're teaching kids about everything except one of the most important parts of life: Making smart decisions with your money. All that time in high school "preparing for college" that ignores the most basic aspect of the point of college: to educate yourself in a way that will increase your earning potential.

[GrayStangGT]

Should have stayed ME if you wanted to make more money.

[Broncojohnny]

This is going to be another thing that blows up in the next few years. Cheap easy government money has skewed the market for student loans just like it did for mortgages. Kids coming out of college these days are going to be fucked.

[slow99]

I need a new career ASAP :

Word. Fwiw I posted a student loan thread on 5/23/12.

[The King]

Even if he did, wouldn't get my vote!

Good man, and obviously educated.

[gav91183]

Maybe between now and November Obammy will forgive all government student loans in order to lock in some more votes.

Even if he did, wouldn't get my vote!

[YALE]

Save up, and make a payment to principal every year then reamortize and do it again. Loans fall off fast that way.