The mentality of people who graduate with $100k in student loan debt (scores, vs)
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Who goes into 100 thousand dollars worth of debt? The only way anyone would have debt that high is if they went to a top tier Ivy League school. A regular state school would not put you in that much debt and if someone is smart enough they could graduate with very little to no debt.
You're right, and golfgal is also right about the Ivies. Some people apparently, and I use that word b/c I don't actually know of anyone who did this, rack up auto loan debt, credit card debt, and other debts as well as student loans.
Who goes into 100 thousand dollars worth of debt? The only way anyone would have debt that high is if they went to a top tier Ivy League school. A regular state school would not put you in that much debt and if someone is smart enough they could graduate with very little to no debt.
Not everyone has that option. Clearly by the 1.2 trillion dollar(and growing) deficit something isn't right.
Not everyone has that option. Clearly by the 1.2 trillion dollar(and growing) deficit something isn't right.
The Ivies offer excellent financial aid packages for the majority of Americans. Families on the higher side of upper middle class (but still a ways off from wealthy) are the ones stuck in the paradox of being too rich to get financial aid, but too poor to responsibly afford tuition. That's where good state schools (which tend to be far less generous with financial aid but have far better sticker costs, along with the possibility of merit scholarships) come in handy. Somewhat less prestigious (but still high quality) schools like Tufts or Emory (just to name a couple examples) may bridge the gap via merit aid as well. That was the case for a number of people from my school, myself included.
Because aid packages (whether merit, financial, athletic, diversity, whatever) can be so unpredictable, it's important to cast a wide net when applying. For my girlfriend, UPenn offered leaps and bounds more coin than her Flagship State U. For me, my co-flagship State U with a small merit scholarship easily beat the modestly more prestigious private universities I was accepted to, which offered me bupkiss (the Ivies would have been the same way).
Last edited by ElijahAstin; 03-15-2014 at 12:28 PM..
The Ivies offer excellent financial aid packages for the majority of Americans. Families on the higher side of upper middle class (but still a ways off from wealthy) are the ones stuck in the paradox of being too rich to get financial aid, but too poor to responsibly afford tuition. That's where good state schools (which tend to be far less generous with financial aid but have far better sticker costs, along with the possibility of merit scholarships) come in handy. Somewhat less prestigious (but still high quality) schools like Tufts or Emory (just to name a couple examples) may bridge the gap via merit aid as well. That was the case for a number of people from my school, myself included.
Because aid packages (whether merit, financial, athletic, diversity, whatever) can be so unpredictable, it's important to cast a wide net when applying. For my girlfriend, UPenn offered leaps and bounds more coin than her Flagship State U. For me, my co-flagship State U with a small merit scholarship easily beat the modestly more prestigious private universities I was accepted to, which offered me bupkiss (the Ivies would have been the same way).
Tufts no longer gives merit aid.
It really depends on your state. Our state schools are expensive compared to surrounding states and compared to pretty much every private school for a reasonably good student. For a B- or lower student with a 24 or worse ACT, yes, state schools are probably going to be the way to go.
Ivy's have changed how they do their funding (as have some other schools), it's income based so if you make $75,000 or less, AGI, those schools are free, yes free. Between 75K-180K it's a sliding scale based on your AGI (10%) so someone making 180K (well their parents), they are paying $18,000/year with NO loans at most of the Ivys...our state schools cost more than that....
It really depends on your state. Our state schools are expensive compared to surrounding states and compared to pretty much every private school for a reasonably good student. For a B- or lower student with a 24 or worse ACT, yes, state schools are probably going to be the way to go.
Ivy's have changed how they do their funding (as have some other schools), it's income based so if you make $75,000 or less, AGI, those schools are free, yes free. Between 75K-180K it's a sliding scale based on your AGI (10%) so someone making 180K (well their parents), they are paying $18,000/year with NO loans at most of the Ivys...our state schools cost more than that....
Did not know that about Tufts.
And like I said before, Ivies and their equivalents can definitely end up cheaper than a state school education for the vast majority of Americans. It sucks to be in the donut hole, but oh well, there are worse things in life. Gotta scout out those scholarships, wherever they may be!
My son will be transferring and attending a local university as he is finishing his last semester at community college, he will live at home however he will have debt from student loans and they will exceed 100k....his major is PT specialty sports medicine and or PA in Pediatrics and or Sports Medicine he is not sure which track yet but same Exercise Science Degree...He will have to go to Graduate school for PA its 27 months and a PT Doctoral Program for PT, IN WHICH the cost to attend a local school is 27k a year...Not all universities offer the same type of programs, so as far as debt goes, you have to go to the University that will suit your needs..My son decided he didn't want a huge university so he isn't going to Rutgers here in NJ as he is wanting a smaller school...He will be in debt and live home as long as he chooses too to start paying them off, the good thing about his field is there are a lot of jobs as a PT and or PA.
What I dont get are those kids that go out of state and pay the huge cost of attending unless they have gotten a scholarship or some type of reward.
My son will be transferring and attending a local university as he is finishing his last semester at community college, he will live at home however he will have debt from student loans and they will exceed 100k....his major is PT specialty sports medicine and or PA in Pediatrics and or Sports Medicine he is not sure which track yet but same Exercise Science Degree...He will have to go to Graduate school for PA its 27 months and a PT Doctoral Program for PT, IN WHICH the cost to attend a local school is 27k a year...Not all universities offer the same type of programs, so as far as debt goes, you have to go to the University that will suit your needs..My son decided he didn't want a huge university so he isn't going to Rutgers here in NJ as he is wanting a smaller school...He will be in debt and live home as long as he chooses too to start paying them off, the good thing about his field is there are a lot of jobs as a PT and or PA.
What I dont get are those kids that go out of state and pay the huge cost of attending unless they have gotten a scholarship or some type of reward.
Well, in our experience a lot of the kids that go out of state do so because they did get good merit aid, etc. Not sure how much looking he did out of state but had he started at a private school, depending on his grades and test scores, it's likely he would have come out way better off vs going the CC route that he did. Just one example, if he had a 3.6 or better and a 28+ on his ACT, he would have netted out at about $5000/year at our son's school. They actually give a pretty nice scholarship for athletic training majors...which works into the PT programs if they choose to go that route-or a PA program. That would have been living on campus too...transferring into that same school his best package would leave him with about $15,000/year. Can you honestly say that his CC plus living/commuting expenses were under $5000/year...not likely.
Too many people automatically assume the CC route is cheaper, but it's usually not. The other issue is will he get INTO the program he wants? Often those programs are very competitive at the UG level even and they generally require some pre-req work in their department to get accepted. He may end up doing an extra year at the university because of that.
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