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Last time I enrolled in a PhD program was 2007. Mine was fully funded plus a 13.5k/yr stipend as NJBest just mentioned. If you are in the hard sciences or Management PhD program that stipend can actually approach 30k/yr.
My brother chose to pursue an MS in Computer Science from a top 3 program and my sister a JD from a top 20 program.
Parents did not pay for any of it. I don't see any reason why any parents should pay for their children's graduate degrees. They are adults at that point in time.
From a decent school, $30K/year isn't even going half way. Sort of like spitting in the ocean.
The title of this thread is about student loans. If parents took their responsibilities and would pay for schooling, this thread would not even exist.
How is it the parent's responsibility to pay for college? My parents had no responsibility to cover my UG. I am thankful they did, but they raised me to 18, I was an adult. They were done.
Quote:
Originally Posted by SuperSparkle928
Please enlighten all of us, for any top-10 schools, that are fully funded.
He was saying PhD programs are fully funded (as well as some MS programs, although these are much less common).
Quote:
Originally Posted by SuperSparkle928
From a decent school, $30K/year isn't even going half way. Sort of like spitting in the ocean.
Fully funded + a 30k/yr stipend. Meaning that tuition and fees are already covered. How is 30k/yr disposable income not spitting in the ocean when you don't have any tuition and fees?
Chemistry graduate programs are almost always fully funded with a stipend, although often the student needs to TA to get the stipend. Over the past five years I have had roughly thirty of my undergraduates go into chemistry graduate school, and not a single one paid a dime in tuition for themselves.
In 2002 my graduate fellowship was full tuition and $24K/year with no teaching, and I won another competitive fellowship for 5K a year that stacked. 29K with full medical benefits (albeit at the University Hospital) , full tuition paid, and a completely flexible (yet busy) schedule did not lead to a unpleasant lifestyle at all.
In 2007 my postdoc paid 50K/year and my boss sent me to four national meetings a year in locations like Honolulu, Seoul, and Geneva. I know some postdocs are bad situations, but in my case I miss it and remember it fondly.
Science is not for everyone, but if you are pretty good at it then you can have a decent career. You just have to recognize that the reason why graduate school is essentially free is that you are not guaranteed anything when you graduate like MD's.
Allow student loans in bankruptcy, plain and simple.
why wouldn't all students just default and declare bankruptcy? The bankruptcy only shows on your credit report for 10 years (31-32 years old) and only actually impacts your credit score greatly for 1-2 years. It would be in every students best interest to declare bankruptcy if their loans were 30k+ right when they graduated and most students wouldn't have any equity so it would work perfectly. This is what happened to med students and part of the reason you can not default on them. Med students were graduating and defaulting during residency. Then they finished residency with no debt and were making 200k+.
My point was really simple. Buy what you can afford. Financing a car tends to mean you can't afford it outright. Financing a house is usually a necessity, though, but after a decade or so they all come via cash. Simple enough. A child's college education (well the entire upbringing of them) is really expensive (from a decent school). If the parents do not have the proper occupation decisions or qualified skill, they will be unable to (most likely) pay for it.
Quote:"I don't have kids so no. I haven't been saving for anyone's college education. If I have them I will do what I can to save."
Classic example of PPPPP.
So you're telling me to start a fund for kids I may never have? You sir (or ma'am) have lost all credibility with this argument.
Sure does. Buy a (mostly) depreciated vehicle, and then get 8 times your investment with gold (well, and a zillion times that from startups) obviates the cost of virtually any car. More millionaires (back then, accounting for inflation) were made during the depression than any other time in US history.
The title of this thread is about student loans. If parents took their responsibilities and would pay for schooling, this thread would not even exist.
Okay, I am too involved in this stuff to call you out and see that you have no understanding of what you're talking about. Your BS might work elsewhere, but here everyone sees it as just that... BS.
I do agree with you about one thing, however.... and it's the most important part of your post. The title of this thread is about student loans.
Allow student loans in bankruptcy, plain and simple.
This will just be a huge government bailout for folks underwater. I'm all for refinancing these loans, but since they were given out with a guarantee of not being dis-chargeable, it wouldn't be right to allow them to be discharged now.
We need to reassess how we give out loans, and then maybe we could make new loans dis-chargeable.
Please enlighten all of us, for any top-10 schools, that are fully funded.
For PHD programs... all of them. For undergrad, my school has a student debt rate of $0 upon graduation. There you go parents. Groom your child for these kinds of schools.
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