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In reality it's only the affluent who can and will be able to afford an education in the future. Isn't that the way it's always been?
My first year in college in 1993, my parents made a grand total of $23K. They had 3 kids and a house! I did get some governmental assistance, but the bulk of my tuition was paid by student loans. My parents didn't give me a dime. I did it all one my own...somehow I survived and was offered several jobs after graduation.
I also worked throughout college. At one point, I had 3 jobs and went to school full time - 18+ credits. I needed to pay for car insurance, gas in my car, food, and rent. I managed to graduate with honors as well.
If one wants something and will work hard for it, you can accomplish anything! You have to have a true desire to succeed. No one ever handed anyone anything who sat around on their ***** all day except daddy.
Well, there's your answer! Make the colleges change! A PT program is 3 years, full time, 36 months. If you made it part-time, how long would it take you to actually get the degree? Six years at half time! You could not earn enough, part time to do more than pay your rent and maybe tuition. Talk about opportunity cost! Better to to bite the bullet, do it while you're still young and unencumbered with kids and such and pay off the loans.
You'd have to even find a program that would allow you to attend part time! Very few medical programs allow for that. They want you to finish before you've hit your 90th birthday. Tuition and fees would be far costlier over 6 years versus 3. Part time tuition is usually more than full time tuition per credit. Often times the fees are the same amount. Lab fees are what they are and you're stuck with them.
My first year in college in 1993, my parents made a grand total of $23K. They had 3 kids and a house! I did get some governmental assistance, but the bulk of my tuition was paid by student loans. My parents didn't give me a dime. I did it all one my own...somehow I survived and was offered several jobs after graduation.
I also worked throughout college. At one point, I had 3 jobs and went to school full time - 18+ credits. I needed to pay for car insurance, gas in my car, food, and rent. I managed to graduate with honors as well.
If one wants something and will work hard for it, you can accomplish anything! You have to have a true desire to succeed. No one ever handed anyone anything who sat around on their ***** all day except daddy.
Indeed things were certainly easier 20 years ago. I don't deny that. I don't know if pay as you go will be feasible by the time my kid is ready for college, especially if the student loan bubble bursts.
Indeed things were certainly easier 20 years ago. I don't deny that. I don't know if pay as you go will be feasible by the time my kid is ready for college, especially if the student loan bubble bursts.
I've been taking college courses ever since! Most of my education was funded via student loans not paid as I went. I've earned 2 degrees and am working on my third. Trying to avoid anymore loans with this degree.
I've been taking college courses ever since! Most of my education was funded via student loans not paid as I went. I've earned 2 degrees and am working on my third. Trying to avoid anymore loans with this degree.
No, I don't think you did. I'm talking about the future, the rising costs of college, and how it's not sustainable. I provided a link that you obviously did not read. Further, disparity is ever widening and this is going to shake out via the education system because the idea that anyone and everyone can get a student loan for as much as they want is not a sustainable paradigm. It's a bubble. You're talking about you and your schooling. I don't see how that addresses the point in my past several posts.
No, I don't think you did. I'm talking about the future, the rising costs of college, and how it's not sustainable. I provided a link that you obviously did not read. Further, disparity is ever widening and this is going to shake out via the education system because the idea that anyone and everyone can get a student loan for as much as they want is not a sustainable paradigm. It's a bubble. You're talking about you and your schooling. I don't see how that addresses the point in my past several posts.
Stop thinking because your'e incorrect! I perfectly understood what you were saying.
I don't agree with that article at all claiming that tuition will be those astronomical numbers in 5 years would mean tripling or quadrupling or more of tuition between now and then. That's not happening.
And I DID read that link you posted! Nice try!
Your comments were to my schooling. Look above and you can review what you quoted from me.
And you can't get a student loan for as much as you want. Federal backed loans have limits. And they're pretty low considering what an education costs. Yes, you can get a private loan from a bank, but those are very hard to come by and banks, too, have limits on what they will loan out unsecured.
I loved getting my BS (the college experience, the learning aspect, what it enabled me to then take and executive in the real world, and what it has led me to), and I wouldn't trade it for anything.
But, it's also partly what the graduate does with their degree and knowledge. A degree doesn't mean success, but it definitely helps.
Stop thinking because your'e incorrect! I perfectly understood what you were saying.
I don't agree with that article at all claiming that tuition will be those astronomical numbers in 5 years would mean tripling or quadrupling or more of tuition between now and then. That's not happening.
And I DID read that link you posted! Nice try!
Well, to start the article is talking about 18 years, not 5 years (that I saw), so I'm not sure what you read. Or maybe I'm not following you. Why do you think this is not happening? I'm not in finances, but when I speak with people in finance about college planning for my kid that is what I've been hearing from them.
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Your comments were to my schooling. Look above and you can review what you quoted from me.
The only reason I quoted you at all is because you responded to a sentence of a previous post of mine, and your response to me was about your schooling, which again, had nothing to do with the point I was making in that post. That you even say you took out student loans shows that you are missing my point because I'm thinking that student loans will not be available for everyone in the future. Like the housing bubble, there appears to be a student loan bubble. I do not think it's sustainable. For example...
And you can't get a student loan for as much as you want. Federal backed loans have limits. And they're pretty low considering what an education costs. Yes, you can get a private loan from a bank, but those are very hard to come by and banks, too, have limits on what they will loan out unsecured.
There is no credit consideration for student loans. A student, providing s/he's in good academic standing, can continue on until the debt becomes exorbitant. That is exactly what is happening for thousands of students right now. This is not new news.
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Recent college students are defaulting on federal loans at the highest rate in nearly two decades, reflecting "crisis" levels of student debt and a lackluster economy that leaves graduates with bleak employment prospects.
Here are some important points from the first OPED.
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1. From 1976 to 2010, the prices of all commodities rose 280 percent. The price of homes rose 400 percent. Private education? A whopping 1,000 percent.
In the end, this bubble will be worse than the last. Even when homeowners got hopelessly behind on their mortgages, two options helped. First, they could declare bankruptcy and free themselves of their crippling debt; second, they could sell their houses to pay down most of their loans.
Students don't have either of these options. It's illegal to absolve student loan debt through bankruptcy, and you can't sell back an education.
It seems to be inevitable. If you don't think so then I would be curious as to why. When students are allowed to file bankruptcy there will then be credit limits placed upon student loans. When that happens disparity is going to rear its head and the poor, minorities, etc will have challenges getting these loans. Hence the sentence you quoted.
If the financial cost projections are the case and tuition continues to rise as it has been then that will again showcase disparity in this country and educational upward mobility will become harder for the poor. Given the shrinking middle class, the growing poor and working class, it looks like a lot of people could potentially be affected. No?
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