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Old 09-04-2010, 10:43 PM
 
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Student-Loan Debt Surpasses Credit Cards - Real Time Economics - WSJ
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Old 09-05-2010, 07:33 AM
 
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Well I should hope so-getting a college degree is going to return that money many times over vs a credit card that is going to COST you more money many times over. Sorry, but if the choice is to go to an inferior school with no student loan debt or to go to a good school and come out with some student loan debt, I will take the student loans any day. The average student comes out of college with around $27,000 in student loan debt, which is about equal to a car payment-not a big deal in my book.
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Old 09-05-2010, 11:57 AM
 
Location: Victoria TX
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Originally Posted by golfgal View Post
if the choice is to go to an inferior school with no student loan debt or to go to a good school and come out with some student loan debt, I will take the student loans any day. .
Really? Do you really think there is that much difference between the private schools and the state university, that you would happily pay tens of thousands of dollars for the difference?

Or more saliently, that you would earn tens of thousands of dollars more if you went job-hunting with a degree form a private school the employer has never heard of, rather than Ohio State or Wisconsin or Michigan or UVA or UCLA or UT-Austin?
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Old 09-05-2010, 01:24 PM
 
Location: NC
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Originally Posted by jtur88 View Post
Really? Do you really think there is that much difference between the private schools and the state university, that you would happily pay tens of thousands of dollars for the difference?

Or more saliently, that you would earn tens of thousands of dollars more if you went job-hunting with a degree form a private school the employer has never heard of, rather than Ohio State or Wisconsin or Michigan or UVA or UCLA or UT-Austin?
Private versus Public has nothing to do with quality and often, if scholarships are involved, nothing to do with cost either.

In fact, precisely because private schools tend to have more money for scholarships "inferior" private schools tend to be cheaper for higher qualified students then superior state schools.

Essentially if you have the grades and scores to get into somewhere like UVA, UC Berkeley, UT-Austin, etc. chances are you can get a lot of money lesser known private schools.
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Old 09-05-2010, 01:41 PM
 
Location: 53179
14,418 posts, read 22,369,703 times
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Originally Posted by golfgal View Post
Well I should hope so-getting a college degree is going to return that money many times over vs a credit card that is going to COST you more money many times over. Sorry, but if the choice is to go to an inferior school with no student loan debt or to go to a good school and come out with some student loan debt, I will take the student loans any day. The average student comes out of college with around $27,000 in student loan debt, which is about equal to a car payment-not a big deal in my book.

It is if the education received wont land you a good paying job.
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Old 09-05-2010, 04:06 PM
 
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Originally Posted by jtur88 View Post
Really? Do you really think there is that much difference between the private schools and the state university, that you would happily pay tens of thousands of dollars for the difference?

Or more saliently, that you would earn tens of thousands of dollars more if you went job-hunting with a degree form a private school the employer has never heard of, rather than Ohio State or Wisconsin or Michigan or UVA or UCLA or UT-Austin?
This isn't a private vs public issue, it is a good school vs bad school issue. There are plenty of both in the private and public sectors. Honestly though, most people I know play SIGNIFICANTLY less at private schools then they do at public schools because most private schools have more money to give-which is besides the point. So many people get all up in arms about "student loan debt" and for MOST students it really isn't that big of an issue. Sure, you hear of a lot of doctors coming out with $200,000 in debt, but they will also make that or MORE in their first year out of school and the payments are manageable.

Around here most of the private schools carry more weight in the job market, have better alumni networking and have better reputations then the state schools. For MOST jobs, the school you attended has only a minor influence over getting a job or not. In some specialized programs like engineering that is different but for others, there is very little difference.
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Old 09-05-2010, 04:07 PM
 
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Originally Posted by glass_of_merlot View Post
It is if the education received wont land you a good paying job.
Even then it isn't because there are income based payback schedules so the debt is still manageable. Yes, you would be silly to pay $50,000/year to get a degree in social work but hopefully people are smart enough to realize that and if not, oh well.
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Old 09-05-2010, 05:54 PM
 
Location: Victoria TX
42,618 posts, read 86,592,874 times
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Originally Posted by golfgal View Post
. . . ]if the choice is to go to an inferior school with no student loan debt or to go to a good school and come out with some student loan debt, I will take the student loans any day.
Before this gets too contorted, your comment seems to indicate that the difference in quality of the education can be measurable in economic terms. Do you mean that you can earn that much more money in your career with a degree from a better school, or that the debt is a price you are prepared to pay to feel that your education was superior?
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Old 09-05-2010, 06:13 PM
 
20,793 posts, read 61,081,847 times
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Originally Posted by jtur88 View Post
Before this gets too contorted, your comment seems to indicate that the difference in quality of the education can be measurable in economic terms. Do you mean that you can earn that much more money in your career with a degree from a better school, or that the debt is a price you are prepared to pay to feel that your education was superior?
Well, if you go to a bad school your education WILL be inferior--I don't know that it is a hard concept to grasp, is it?
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Old 09-05-2010, 11:36 PM
 
Location: Victoria TX
42,618 posts, read 86,592,874 times
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Originally Posted by golfgal View Post
Well, if you go to a bad school your education WILL be inferior--I don't know that it is a hard concept to grasp, is it?
The easy concept to grasp is that a college degree is obligatory for most professional fields, and if you have one, you have one. It will get you considered for a job, and whether you get the job and where you go from there is up to you, not the reputation of the college you went to. No doubt there are a few professions in which the cache' of a prestige school will get you on the inside track for immediate placement in a crack program, but surely they are in the minority, and for most college graduates, their placement will depend on more than just the glitter of the school.

I ask again---Is it true that if your degree is from a "better" college, you will make more money, regardless of your own working performance on the job? And, aside from the job, what are the defining parameters of an "inferior education" that yields a college degree, and how does said "inferior education" in your past negatively impact your future life, economically or otherwise?

Last edited by jtur88; 09-05-2010 at 11:45 PM..
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