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Old 08-18-2017, 08:00 AM
 
Location: USA
2,580 posts, read 3,436,350 times
Reputation: 2220

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Quote:
Originally Posted by BigDGeek View Post
Agreed. I went to college but I'm not sure I'd advise any child of mine to do so as well. It would depend on what they wanted to do...but in my field (IT) you don't need a degree anyway.
I hear ya. I have a 4 year degree in criminal justice, but I had a nearly full ride scholarship, left school with $3,400 in student loans which I paid off in like 2 years. Was going to go to law school, but didn't get much in the way of scholarship $ and just couldn't swallow the $120,000 price tag.


IT is a decent field, I've thought about it as a career change.
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Old 08-18-2017, 01:44 PM
 
Location: North Texas
23,611 posts, read 31,169,837 times
Reputation: 26678
Quote:
Originally Posted by zoomzoom3 View Post
I hear ya. I have a 4 year degree in criminal justice, but I had a nearly full ride scholarship, left school with $3,400 in student loans which I paid off in like 2 years. Was going to go to law school, but didn't get much in the way of scholarship $ and just couldn't swallow the $120,000 price tag.


IT is a decent field, I've thought about it as a career change.


It pays the bills. It helps that people think that database work is either hard or boring.
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Old 08-18-2017, 07:42 PM
 
Location: Oregon, formerly Texas
5,242 posts, read 3,400,294 times
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Beware the people with college degrees that tell others that no one needs a college degree. It'll leave them as the privileged few that still have one. How convenient.
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Old 08-19-2017, 03:14 PM
 
Location: North Dakota
7,053 posts, read 8,208,313 times
Reputation: 9318
Quote:
Originally Posted by redguard57 View Post
Beware the people with college degrees that tell others that no one needs a college degree. It'll leave them as the privileged few that still have one. How convenient.
Yeah, I'm sure that's their thinking.
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Old 08-21-2017, 01:56 AM
 
Location: Los Angeles
328 posts, read 106,107 times
Reputation: 484
Quote:
Originally Posted by survivingearth View Post
Are elite schools in specific really worth the high costs?
No. Over rated. It's more about the person studying and applying what they learn in the field than the school. Getting a degree has become so expensive that it can make sense to just invest the same money then go to plumbing school (for example) for a year and then work towards starting your own business, as your money is invested and working for you.
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Old 08-21-2017, 06:20 AM
 
Location: Grosse Ile Michigan
24,725 posts, read 59,631,443 times
Reputation: 26860
Our better State schools run $11,000 - $14,400 per year for tuition. I cannot see any way to justify more than that. These are very good schools, some of them nationally recognized as top schools. Why pay more?

One thing that shocked me - our flagship school charges about $14,400 per year for in state tuition. However out of state is over $45,000. Add living expenses etc and it is $60K! Per year. Undergrad. Given it normally takes 5 years for the first degree these days, that is $300,000 just for undergrad. Some years more than half of the student body is out of state. Don't they have good schools in other states? Why would someone pay that to come here?
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Old 08-21-2017, 09:16 AM
 
Location: STL area
732 posts, read 356,570 times
Reputation: 1578
For my kids I don't have a set amount of what is too much. We have the funds to pay for whatever. What is too much will really be more of a matter of how the school fits, what they intend to major in, and whether the cost/benefit works out.

We'll discus life goals, work out which schools fit and whether the cost is reasonable to the return on future earnings. To the best of our ability anyway. My husband is pretty good at this. They each have a certain amount to pay for college and grad school and whatever is left when they are done is theirs to keep and get started in life with. We hope to guide them to make the best choice of how to spend that money.

I went to a private college but on some great scholarships. I went to an expensive, elite grad school that cost me a lot of money, but my income was always quite high, whatever loans I had were paid off within 3 years of graduation and I've never regretted it. If I was a teacher (like many in my family) I never would have taken out 6 figure loans to get there. It would have taken forever to get out from under that. But I took out 6 figure loans to start at 150K+. A few years of living below our means and those loans were gone.
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Old 08-21-2017, 09:57 AM
 
Location: Florida -
8,248 posts, read 10,006,995 times
Reputation: 15115
Many young people today seem to have basic liberal arts degrees, enormous student loan balances and limited job prospects. One wonders what type of guidance these young people had in selecting their college and major - before committing to significant college loans. The belief that simply having any college degree ensures a good career and financial prosperity is naive and untrue.

Before committing to significant college loans, college students should be required to compile a viable career plan ... with assumptions verified against real world conditions and input. This plan should be reviewed annually before new loans are approved. (Parents of college students might also do well to help their child compile a similar plan, before providing 4-6 years of college aid).

Of course, individual initiative and motivation will largely determine what one does with their college degree - and many would still find themselves financially upside-down years after graduating from college. But, others would temper their idealistic thinking with realism and perhaps, save themselves a lot of financial pain and disillusionment later.

Last edited by jghorton; 08-21-2017 at 10:11 AM..
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Old 08-23-2017, 08:20 AM
 
12,455 posts, read 27,089,579 times
Reputation: 6946
Quote:
Originally Posted by survivingearth View Post
Schools are getting more and more expensive, but it is worth the extra tag. Are elite schools in specific really worth the high costs?
Such a simple question, but the answer is really not that simple. As other posters have mentioned, if a student has excellent grades and the family income is under a certain amount, the cost can be the same, or even less than a state college: How Ivy League financial aid packages stack up - Business Insider

If a student is going to major in a lucrative field, than the debt can be paid off quickly - but there are no guarantees that the student is going to stick with the major they declare, do well in that major or actually get a job after graduation.

My advice is for parents to be up front with their kids BEFORE they even start looking at colleges about how much they are willing to pay and do an economics overview about careers and the cost of paying back loans. Parents really should do their homework and learn about the college search. I read several books about colleges, many which are listed in the sticky at the top of this page, that spelled out how to find a college that is just the right fit and to make it affordable for each family and student. There's more to the college search than the cost, but for most of us that's the bottom line. We worked hard to find colleges that fit our kids interests, their wants and our budget. It's not a one size fit's all situation.
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Old 09-08-2017, 08:11 PM
 
Location: Texas
6,524 posts, read 2,371,038 times
Reputation: 13963
What I wonder, is this: if college costs keep rising, will the number of people applying to colleges drop?
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