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Old 08-27-2019, 12:19 PM
 
29,567 posts, read 26,629,726 times
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Quote:
Originally Posted by ronricks View Post
It's not how much you make it is how much you save and how you get that money working for you in investment vehicles like a 401k, Roth, stocks, bonds, high yield saving accounts. You can work at McDonald's and have a 401k. Some people choose to save money and others choose to spend it on frivolous stuff. Not going to say either group is wrong but just don't come to me wanting my money because you didn't prepare responsibly for retirement. For a lot of people it can be one or the other and not both. If you want to live high on the hog when you are young and not have any savings I say more power to you. Some people would rather have a comfortable retirement.
Well, the young folks say they are burdened with debt unlike any prior generation. From what I've read they can wind up several hundred K in the hole in just a few years.
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Old 08-27-2019, 03:42 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Originally Posted by arjay57 View Post
Well, the young folks say they are burdened with debt unlike any prior generation. From what I've read they can wind up several hundred K in the hole in just a few years.
How do you think they got that way? A hundred grand a year takes an effort to spend that much. A year at Stanford costs about $70K so a few years is $140k. The cost to attend Cal State Hayward is 25K a year.

Not everyone will go to an expensive school and not everyone will pay full tilt.

The other thing is does anyone ever sit down and think how much it the education will cost and how much it will pay in return? Do they ever even give thought that they will have to pay back what they borrow with interest?

Some people don't need the expensive education but want it because the aren't paying for it right now. Others have the option of attending a JC at a much lower cost then transferring, but would rather have the full college experience.

No one forces them to go to college nor an expensive one at that. It's a choice.
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Old 08-27-2019, 04:45 PM
 
Location: 30080
2,251 posts, read 3,561,893 times
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Originally Posted by aslowdodge View Post
How do you think they got that way? A hundred grand a year takes an effort to spend that much. A year at Stanford costs about $70K so a few years is $140k. The cost to attend Cal State Hayward is 25K a year.

Not everyone will go to an expensive school and not everyone will pay full tilt.

The other thing is does anyone ever sit down and think how much it the education will cost and how much it will pay in return? Do they ever even give thought that they will have to pay back what they borrow with interest?

Some people don't need the expensive education but want it because the aren't paying for it right now. Others have the option of attending a JC at a much lower cost then transferring, but would rather have the full college experience.

No one forces them to go to college nor an expensive one at that. It's a choice.
And when it boils down to it, that JC student and that Cal State/MIT/GT student interview for a position. Neither has experience. By default, who is more likely to get that job and who is more likely not to? And that is why people pick those expensive schools. The alumni connections alone with some of those high end schools get them jobs to where they only even have to interview just as a formality. It's not a guarantee of course, but if you say there's no an advantage you'd be fooling yourself. The problem is the cost of an education in the US to begin with just the same as the cost of healthcare. You mess around and get into a situation where you have to have some type of serious injury and have to be hospitalized for a while. Even WITH insurance, the amount of money you end up paying is disgusting. Evem 10 grand a year for school is expensive. And, high schools hardly ever even encourage kids to take up trades instead of wasting money on college. I have a friend that went and took up welding and dude makes more money than everyone I personally know. But for some reason, blue collar jobs are looked at as lesser than white collar jobs no matter the pay.
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Old 08-27-2019, 09:31 PM
 
492 posts, read 176,123 times
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Quote:
Originally Posted by brownhornet View Post
And when it boils down to it, that JC student and that Cal State/MIT/GT student interview for a position. Neither has experience. By default, who is more likely to get that job and who is more likely not to? And that is why people pick those expensive schools. The alumni connections alone with some of those high end schools get them jobs to where they only even have to interview just as a formality. It's not a guarantee of course, but if you say there's no an advantage you'd be fooling yourself. The problem is the cost of an education in the US to begin with just the same as the cost of healthcare. You mess around and get into a situation where you have to have some type of serious injury and have to be hospitalized for a while. Even WITH insurance, the amount of money you end up paying is disgusting. Evem 10 grand a year for school is expensive. And, high schools hardly ever even encourage kids to take up trades instead of wasting money on college. I have a friend that went and took up welding and dude makes more money than everyone I personally know. But for some reason, blue collar jobs are looked at as lesser than white collar jobs no matter the pay.


Pretty sure they said to go to a JC and then transfer. This means you still get a bachelors+ degree from the prestigious school.
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Old 08-27-2019, 10:00 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
5,692 posts, read 4,224,856 times
Reputation: 7657
Quote:
Originally Posted by brownhornet View Post
And when it boils down to it, that JC student and that Cal State/MIT/GT student interview for a position. Neither has experience. By default, who is more likely to get that job and who is more likely not to? And that is why people pick those expensive schools. The alumni connections alone with some of those high end schools get them jobs to where they only even have to interview just as a formality. It's not a guarantee of course, but if you say there's no an advantage you'd be fooling yourself. The problem is the cost of an education in the US to begin with just the same as the cost of healthcare. You mess around and get into a situation where you have to have some type of serious injury and have to be hospitalized for a while. Even WITH insurance, the amount of money you end up paying is disgusting. Evem 10 grand a year for school is expensive. And, high schools hardly ever even encourage kids to take up trades instead of wasting money on college. I have a friend that went and took up welding and dude makes more money than everyone I personally know. But for some reason, blue collar jobs are looked at as lesser than white collar jobs no matter the pay.
You make valid points. One has to figure out if the higher cost for 4 years at a good school is worth the extra cost vs 2 years at jc then transfer. But I wonder how many go to prestigious schools and are able to take advantage of the connections. It seems there are a fair amount that graduated from those and are having a hard time getting jobs. Maybe some arenít able to network?
I know a plumber who eventually opened his own business and is far wealthier than many his age who got college degrees. Blue collar does get looked down upon, but in the 4 years of college going in debt you can have 4 years of income.
I get the college thing though. My parents pushed it hard and it used to be the way to go, but things have changed.
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Old Yesterday, 08:10 AM
 
29,567 posts, read 26,629,726 times
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Quote:
Originally Posted by aslowdodge View Post
Some people don't need the expensive education but want it because the aren't paying for it right now. Others have the option of attending a JC at a much lower cost then transferring, but would rather have the full college experience.

No one forces them to go to college nor an expensive one at that. It's a choice.
Back in the day we either went to school where we could afford it or just deferred for a while. JC and community college weren't the deluxe options but they got you where you were going. They were also handy for taking an evening course or two. Although we didn't have HOPE, if you kept your grades up there were sometimes scholarships to be had and they helped a lot.
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Old Yesterday, 03:58 PM
 
Location: 30080
2,251 posts, read 3,561,893 times
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Quote:
Originally Posted by Otakumaster View Post
Pretty sure they said to go to a JC and then transfer. This means you still get a bachelors+ degree from the prestigious school.
Even then you still have to pay for the more expensive school when you transfer. I did exactly that but instead of a JC I went to a lower end college and transferred to a prestigious one after 2 years. And those loans still were no joke either way.
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Old Yesterday, 05:55 PM
 
95 posts, read 25,468 times
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Quote:
Originally Posted by aslowdodge View Post
I understand where you are coming from, but the little man is all relative. Where is the line drawn on who should pay for others? Is it a billionaire? Millionaire? Plenty of millionaires only make 50K a year but scrimped and saved. Should we take money from them?
Have you ever heard of ... tax brackets?

The rich can keep their first $500k at an average tax rate of 28% or whatever the rest of us pay. It's after that that we should heavily tax their income.

I will say I agree with your point on people not sitting down and looking at the costs of school. The education lobby has done an absolutely phenomenal job of convincing the general public that you can't put a price on education. Education is important, I completely agree, but the difference between a near-$300k degree from Northwestern versus $40k Georgia Tech or UGA is...not worth $260k lol
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Old Yesterday, 07:52 PM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
5,692 posts, read 4,224,856 times
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Quote:
Originally Posted by ATLUTD View Post
Have you ever heard of ... tax brackets?

The rich can keep their first $500k at an average tax rate of 28% or whatever the rest of us pay. It's after that that we should heavily tax their income.

I will say I agree with your point on people not sitting down and looking at the costs of school. The education lobby has done an absolutely phenomenal job of convincing the general public that you can't put a price on education. Education is important, I completely agree, but the difference between a near-$300k degree from Northwestern versus $40k Georgia Tech or UGA is...not worth $260k lol
I guess the only thing I can think of is that the wealthy often have good tax strategies in place so you don't often get a true picture of their income.
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Old Yesterday, 10:09 PM
 
492 posts, read 176,123 times
Reputation: 661
Quote:
Originally Posted by brownhornet View Post
Even then you still have to pay for the more expensive school when you transfer. I did exactly that but instead of a JC I went to a lower end college and transferred to a prestigious one after 2 years. And those loans still were no joke either way.
I don’t know your situation but even in state schools the difference between JC and Big University can be between 6-10k a year. That’s cheap enough to pay your way through out of pocket for two years at least.
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