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I went to college from 2000-2004, wife was 1999-2005. I have approx $50,000 left, she has maybe $15,000 left. I was happy to read in a recent article that my school is in the top 15 for "return on investment". I didn't pay full tution and neither did she (rarely anyone does anyways). it was worth every penny in my mind.
As for paying for our kids? If we can, we will. But that's not a requirement. If i do, then i'll expect some help from them with my retirement.
My youngest SIL owes over $100k. She has not attended any major universities. She's been attending college since she was 16 years old. She is 25 now. She should be getting a bachelor's this year in Elementary Education. (But that's what she said last spring too - even sent out Graduation invitations and fooled lots of folks into sending gifts)
As it's been said, what folks have paid FOR school is a different matter than what they owe in student loans.
Still in school, but I currently owe nothing. I just paid off the small amount of loans that I took out during my first year and a half of college. I worked some pretty raunchy (but extremely well paying) jobs and dated some sugar daddies though. Its not the best choice for everyone but it was for me. If college degrees aren't worth hardly anything anymore I'll be damned if I spend 80,000 dollars to get one - which is probably right around what it would have cost me in loans.
I'm about to graduate with 35k in loans. My degree is in Computer Engineering and Computer Science which took me about 4 years to complete. I hope to get these loans paid off in less than 5 years.
I spent 3.5 years in undergrad and racked up ~$56K (and that was with half of everything paid for through grants and scholarship). Then I went to grad school for 2 years (4 semesters) and racked up another $50K. So that puts me right around $106K
In undergrad I did a double major in Mechanical and Aerospace Engineering. I then got my Masters in the same thing.
When you graduated college, how much in student loans did you owe? If it's not too much to ask, also please state what you majored in and how many years of college you attended. This came up in another thread and I'm curious what the average person is paying for their higher education.
first college experience at age 16 was on full scholarship but I had to discontinue my studies for personal reasons - I was in school for 3 years
degree #1 was a BA from an expensive private school when I went back to school as a working adult - I chose the school because it was close to home, offered some classes online, and had classes later at night than 6 p.m. and on Saturdays (I used to pay a lump sum down payment, then made monthly payments and got reimbursed up to $5k a year and used that reimbursement to pay the next lump sum and so on) - this took 2 years to finish
degree #2, BS in Communication Disorders from a state school where out-of-state students who took classes online paid the in-state tuition rate (this required me taking mostly prerequisites that I needed for grad school); I paid out of pocket about $600 a class - this took a year.
degree #3, MS in Communication Disorders from an expensive private school - about $2400 a class and we took 2 classes every quarter so 4 classes every semester. I paid out of pocket for this as well with no reimbursement, so I relied on my salary and bonuses - this took 2.5 years
All in all, 8.5 years of college. At the end of degree #3 I couldn't work because of the clinical work that was involved. Around the same time, I was losing my job so I used my severance and unused vacation time payout to pay my bills and tuition. I did some part-time tutoring/therapy that I was qualified to do before finishing school.
Last edited by itsasmallworld; 06-08-2011 at 02:25 PM..
Reason: left something out
Took me 4 years to get a Bachelors in Chemical Engneering, during which I accumulated a 30K debt from loans. Fortunately, I've paid more than half of it in a year.
I read some of the posters here incurred student loans on living expenses... why not planned to go to nearby school so you can live at home? My parents spent for my education and I went to the nearest state university so I could live at home. Now I have 2 sons in university under scholarships but still we moved about 30 miles so their commute is shorter and they could live at home. We planned ahead so they don't end up loaded with debts even before they start their careers. They told us some of their high school friends went to far away colleges because they don't like to live with their parents, oh well...
that would have been ideal if i had an ideal "home" life to begin with. I wanted to get out. I would have not been able to accomplish what I did had I not been pulled out. I probably would have been part of the cycle of poverty. I "lived" off loans- took 5yrs and 30k but it got me out of the streets!
that would have been ideal if i had an ideal "home" life to begin with. I wanted to get out. I would have not been able to accomplish what I did had I not been pulled out. I probably would have been part of the cycle of poverty. I "lived" off loans- took 5yrs and 30k but it got me out of the streets!
Agreed. Also consider that some of us did not have the option of living at home, even if we went to college nearby. I would've been sleeping on the floor for four years if I lived at home.
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