Students owe $60,000 when they graduate. Isn't that really dumb.?

Question

Four years of college can easily cost more than that. You've accepted student loans all those years. You are now 22 and you owe $60,000 or more. The best job you can get with your BA is a manager at a retail store making $24,000 a year. Remember, with interest, you will have to produce $75.000 over the years. Do you really want that? Is it OK for your parents to borrow on there house for you? Aren't you beginning to think about some other thing, like a computer school? Get real about money.

Now if Grandma pays, that's OK. Geezers have the cash!

Also remember that people who think that government loans are interest free, are uneducated people.

Answer 1

My father told me that you shouldn't take out student loans for anymore than you will make in a year when you get done. So, if you are getting a degree to be a teacher, and teachers make 30,000/year, you shouldn't borrow more than 30,000. If you are going to Harvard for a teaching degree, you should reconsider your school.

Answer 2

While a BA doesn't get you what it used to ten years ago, I've never met a person with a BA that started managing at a retail store. I guess that it depends on the area that you live in, what you've been exposed to, and what the costs of living there are. I've never met anyone with a BA making under 35 grand to start with full benefits.

Compared to credit cards, student loans have a pretty low interest, and if one is focused enough, they can pay them while they are in school. In addition, any interest paid is put towards your taxes when you file and you get money back for that.

My first mistake was going to University of Michigan my first year when I wasn't ready for school, taking out loans, and dropping out. I was a pothead moron. I've been paying the loans off throughout the years and I've never really acquired that much interest.

Now I'm in college for the third time. I've had a 4.0 for the last five semesters, I've been going to a community college so I can pay off my tuition throughout the semester with a plan from the finance office, and I haven't had to touch a loan. When I transfer to UTSA next year, I'll have to reapply, but it will be worth it. I think that the four year university thing should be for people that can afford to pay for it without loans. There's nothing wrong with transferring from a 2 year to a 4 year - especially with smaller classes, less costs, etc.

Like the other comment above - I wouldn't take any of it back. Not even the dropping out of U of M and having to pay for it. College has completely changed my life, opened my mind to accepting so much more, and changed my thought process.

I've thought about settling for a computer certification because I feel the pressure of getting older - but that's just it, I can't settle and wonder what I really missed out on by missing school. One instructor said that one can always walk into a room and by talking with people, no matter how much money they make, you can always tell a college graduate.

Answer 3

And yet, with a college degree, you earn more than a million dollars more than those with a high school degree. Federal loans are cheap, and they let you pay them off over a long period of time. There are scholarships available for achievers.

Even assuming you are correct about the type of job you can get with a BA (you're not), that $24000 is only the first year, and it goes up from there. What do you make with a high school diploma???? Less.

Also, college isn't technical school. The education you receive, both in and out of the classroom, is yours and can never be taken away from you.

Answer 4

No, I wouldn't think so. They have a degree for which they have worked hard . That of itself is an achievement.
Your research is faulty if the best job you can get with a BA is in a retail store.
Your comment about interest is , in my understanding, also inaccurate. I thought that the Gov. loan was interest free.
I hope that someone who has personal information about this situation answers for the sake of those students who are considering Uni.
Education is never a dead end. Thankfully many people study for self betterment. I feel sorry for you if money is more important to you than learning. I think that life can be better balanced than your portrayal of it..

Answer 5

Flappy who put a bug in your stew.?
Not So and apparently college didn't help you.
"Is it OK for your parents to borrow on there " word should be (their).
Some people want to be teachers how would you propose doing that going to computer school?
Besides you forgot one minor detail.
IT'S THEIR MONEY!
Edited and PS'ed
Some of the college graduates receive scholarships, pell grants and work jobs to help pay for it . The student loans are at a very low interest rate.
They receive money gifts from parents, relative and friends and don't forget us grandparents. Just to let you know my daughter received an Associate Degree and makes more money than the $24,000. My granddaughter has the BS in teaching (high school calculus) and makes way more than her mother with the 24G's. she is currently working on her masters which is now required within 10 years of graduating from college/for teaching.
Then the BIG bucks start!!
Maybe you need to get real!

Answer 6

I think it all depends on what you plan to do with your life. If you get a BA in business Management, then yea you are as dumb as hell to take out so many loans, to manage a McDonald's or some retail store.
But... if you are getting a BA like in Nursing, then hell yea take out the loans, b/c you will be making over 80 k a year.

Answer 7

This depends entirely on where you went to school. Many schools have work-study programs and co-op programs that help you pay off your tuition or pay it off in full. Most states have pretty cheap in-state tuition.

Let's put it this way: earnings without a college diploma are thousands and thousands of dollars less than earnings with a college diploma. You make your own decision about whether you want to do it or not. It is still very, very worth it in the end.

Good grades also help.

Answer 8

Yes, Americans have too much sense of entitlement; however, somethings are meant to be free. We socialized the fire dept., police dept. , public schools, etc. . However, the idiots in Washington believe higher education is not essential. Actually, I believe it is allowed to be privatized b/c it serves as a convenient social class ceiling. Much like health care, some "bests" are only reserved for the rich, not the hard working. Sadly, it will only become more and more expensive.

Answer 9

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Answer 10

Sucks