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Many graduate/professional programs do recommend not working. My daughter is a PT and they were advised not to work during school. For one thing, at times they did 40 hour a week clinicals. Try fitting a job into that. And you have to set priorities. If you're in school, the priority should be school, not the minimum-wage or barely above job.
Working while in school is not bad. It helps people get perspective and understand hard work and its value. Interns do get the experience from a specific business model, but they rarely get the broad exposure they will need when it comes to negotiating and working in the real world.
I explained it in detail in not one but two threads. Look under my name if you want to read the posts. I didn't say inherit debt, I said they inherited the current economy and exhorbitant college costs.
Current enconomy? What is that supposed to mean with the scope of your post? Last I checked the economy is doing well. Stock market returns have never been higher unemployment is low. The is nothing to complain about right now.
Nobody inherits college costs. They accept it by signing the dotted line.
Working while in school is not bad. It helps people get perspective and understand hard work and its value. Interns do get the experience from a specific business model, but they rarely get the broad exposure they will need when it comes to negotiating and working in the real world.
P.T.s don't work in the world outside of health care to the degree they need broad exposure, the clinicals provide the experience and the exposure they use for the real world. Same with O.T. Working at Taco Bell for $6.00 an hour wasn't going to help me. I would've gotten fired in any case because we were constantly assigned things throughout the semester and would've been in a position of needing to either call out or not doing an assignment. It was not the kind of program where you knew at the beginning of the semester you could be available Tuesdays and Thursday nights, for instance. You might not have a class assigned Tuesday night, but then you have to do a community project with people in the city who have M.S. who volunteer to work with us, and make home visits, and that stuff is all after classes and on weekends. If the person tells you they are available on Tuesday night, I can't go tell a professor "I have a shift at Taco Bell Tuesday night". They'd have told me to get my priorities straight if I want my degree.
If you are taking Psychology at a local college, sure get a weekend job, but many majors in health care and sciences are not conducive to working.
Current enconomy? What is that supposed to mean with the scope of your post? Last I checked the economy is doing well. Stock market returns have never been higher unemployment is low. The is nothing to complain about right now.
Nobody inherits college costs. They accept it by signing the dotted line.
OMG. They inherited a society, economy, whatever you want to call it, in which they are graduating in much greater debt than any previous generations had to endure. Is that clearer?
Working while in school is not bad. It helps people get perspective and understand hard work and its value. Interns do get the experience from a specific business model, but they rarely get the broad exposure they will need when it comes to negotiating and working in the real world.
What ocnjgirl said plus:
If your program advises you NOT to work, you probably shouldn't work. DD said the students who did work had a harder time. Bosses tend not to be real flexible when you say "I have a final, paper/project due, and can't work as much this week".
What makes you think a student in a professional graduate program doesn't understand hard work and its value? Not to mention, the clinicals my daughter did were at numerous different "business models", e.g. a non-profit hospital, a for profit PT business, etc. "The real world" is one's world.
Last edited by Katarina Witt; 10-05-2018 at 12:08 PM..
The amount of debt our kids are incurring scares me.
Kid 1. 5 years for a music ed degree. She worked part time and had a considerable number of scholarships. Still she incurred over $40,000 in loan debt plus interest. Starting salary was $34,000. After 5 years she is at $44,000 (mostly by moving to a more expensive city where they have to pay better). She and her fiancee are really good about managing money and saving, so she may get it paid off by the time she is 35 or 40.
Kid 2. A few months away from getting her PhD. She worked and was awarded substantial scholarships, lived at home for Undergrad. Still she had to borrow here and there. Although she did to borrow that much, she has been accruing interest during the six years it will have taken her to get her PhD. Her grad position was funded (no tuition, and she got paid a stipend (about $14,000 a year before taxes), but it was not enough o she had to borrow here and there. Especially after she turned 26 and had medical expenses and worthless ACA insurance. She will be $100,000 in debt. She it pretty certain that debt will outlive her as a college professor salary will not allow her to ever do much more than pay interest. She believes she may have it paid own to about $30,000 by the time she dies if she lives to be 88.
Kid 3. This is the lucky one. She left college after one month. She had to pay back some of her scholarships and a small loan, but she manage to do that and now only has a car payment. She joined the labor union and was on track to make $50K a year, but she could not stand working with the people she had to work with (many of them scared her, others just disgusted her), so now she is working at Salvation Army part time for $8 an hour. She intend s to go back to school eventually but will go part time and take a couple of classes a semester while working. Hopefully any loans she has to take out (if any) will be small, but it may take her ten or fifteen years to get her degree if she paces it to what she can afford.
Kid 4. Went to engineering school on a partial scholarship. Borrowed some each year. did great at first and then faltered, switched majors, continued to falter. Ended up massively depressed and hating school and life. Finally quit and became a coach. He is happy but not making much money. He has $40 or $50 K in loans and I do not see how he will make the payments, but he is confident he will. Eventually eh also wants to take classes to complete a degree, but in something relating to coaching. (more loans?). Since my wife secretly co-signed some of his loans (against my express wishes grrrr), at least a portion of them will be paid off, but the balance I cannot see him repaying. Assistant coaches are not well paid, but at least he is finally happy.
Kid 5. Attending college on a full tuition scholarship and about $4000 or $5000 more for living expenses. Still he has to borrow another $5,000 or more for dorm/food. He is a music performance major so figure on 5 years = $30,000 in loans. Then he will probably have to go on to graduate school to be able to do anything that will pay anything so he will probably end up close to $100K in debt when he gets either a PhD in music (and becomes a professor) or gets a JD/MBA and becomes an agent or other music business person. Either way it will be touch and go whether he will be able to pay off that much debt ever.
Our kids all had fairly substantial scholarships, they all worked both during college and in the summers. We provided them what financial support we could. Still they ended up with loans they will struggle for decades or simply be unable to pay back. How many kids are out there who do not have the large scholarships, work, parental support and have t borrow considerably more? What happens when they start to default by the millions?
So what happens when they simply cannot pay it back? I think bankruptcy does not discharge student loan debt. That may have changed some. Bankruptcy or no what happens when millions of kids end up in bankruptcy or simply unable to pay their loans and noncollectable because they do not have the income or assets (otherwise they would pay the loans)? How will they even prosecute the defaults? The cost of the lawsuits and collection efforts will be astronomical and most will not result in enough collected to cover the costs let alone any part of the judgement. Then these kids have judgment/garnishment eating up their income and cannot keep enough to survive while at the same time all of these loan dollars simply evaporate. Can our economy survive that?
If your program advises you NOT to work, you probably shouldn't work. DD said the students who did work had a harder time. Bosses tend not to be real flexible when you say "I have a final, paper/project due, and can't work as much this week".
What makes you think a student in a professional graduate program doesn't understand hard work and its value? Not to mention, the clinicals my daughter did were at numerous different "business models", e.g. a non-profit hospital, a for profit PT business, etc. "The real world" is one's world.
When I was in law school we were forbidden to work during our first year and could be expelled if we were found to be working. there were very limited rare exceptions and you had to go through an extensive approval process. There was no way you could work more than a few hours a week and pass anyway. Not in your first year, at least not at a challenging law school.
I think it is disgusting that the amount of money to get a college
degree is equal to a house. That is a not a characteristic of an
advanced society. I think it is disgusting that the highest paid
person on a state payroll is sometimes a football coach as in
the case of Maryland. There is no guarantee of a job once you
graduate and some people carry the student loan debt to their
grave. Sure people will make excuses but don't call the United
States the greatest country on Earth when you have conditions
like this. There are other countries that treat their students a
a lot better.
OMG. They inherited a society, economy, whatever you want to call it, in which they are graduating in much greater debt than any previous generations had to endure. Is that clearer?
Your post makes no sense. Nobody inherits graduating in debt. Taking on debt is a choice.
When I was in law school we were forbidden to work during our first year and could be expelled if we were found to be working. there were very limited rare exceptions and you had to go through an extensive approval process. There was no way you could work more than a few hours a week and pass anyway. Not in your first year, at least not at a challenging law school.
Since you have grown kids, I am going to take a wild guess that you are about my age. Just what that age is can be our little secret. However, "these days", it's more anything goes, so they don't tell you not to work, they say it's not recommended. I worked with some doctors who are in their 50s now who were told it was not advisable to work in med school. One did anyway. This was at USC.
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