Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
A lot of parents who have un/underemployed children would happily hire them to work the family business, but not many of them have such a thing.
One of my old neighbors has a small restaurant/convenience store that he is letting his 25 year old daughter work out. She got married fairly quickly out of high school to a marine, had a kid, and then they divorced. Dad is still on the hook for her and the kid, who is now a toddler. The daughter has a roof over head and dad has someone to help at the store, but it's really not helping the daughter long-term.
"the net cost of college has actually decreased over the past 6 years" and what does it mean?
For example does it mean some college lowered its tuition? What about the rise of "junk degrees" from barely plausible on-line colleges, these degrees are pretty much worthless and so the value is not viable.
I might be sick of that line too that you mentioned but what does it all mean? if the younger kids are being lured by the banks into debt then a trap is in place and I for one think that needs to be regulated. It is criminal to give someone $60,000.00 in loans for a film degree for example.
This update to an older episode of Planet Money. At the end of the podcast it references a new study that shows the net cost after grants (merit, need based) has gone down over the last 6 years even as tuition (the advertised price) has gone up.
But imagine if you come out of college and the only jobs available are junk jobs. I know several people who graduated with decent degrees (computer science, accounting, finance) only the be stuck in retail, call centers, or food service.
honestly, i don't know how someone could have graduated with comp sci or accounting and not have been able to find a job unless they aren't willing to relocate. finance has been tougher, but those skills easily transfer to other jobs also. any accounting major that cannot get a job isn't looking enough.
I think including students with no debt (athletic or academic scholarship or pay in full) is sways the data. Seven out of 10 college students take on debt so there is 30% of students who do not. Another outlier is transfer students who pay less in the first two, two and a half, three years. The problem is the student loan debt is a very tough issue because we just get general data and not broken down data that shows of students that took out loans, how long the loans were taken out and if they went onto grad school.
when i've read the reported averages, it's average of students WITH debt. for instance, I graduated with over $30,000, so i pull the average up, but if i graduated with $0, i wouldn't be counted.
honestly, i think the student loan "issue" is just grossly overstated. more people go to college which is why the "total student loan debt" is over $1T now. but that's a scary number to talk about, so that's a political talking point now. my federal student loans are 1.625% APR. that's like free money. my private are mostly 3%, with one being 3.5%. my wife's federal are 2.875%. So, I make extra payments on my 3.5% loan, and when that's done, i'll pay extra on my 3% loans. when that's done, i'll revert to paying the minimum on the 2.875% and 1.625%, unless i have lots of cash just sitting around.
Many shades of gray, as there are kids who go home, get back on their feet, and either move out, or decide to stay at home to save $$, while being able to contribute their funds to the family upkeep. There are certainly kids who go home and really slack off with no strong desire to work again. For the latter, that's another matter entirely, unless the term "boomerang kids" includes this group too.
In Pennsylvania it is over $17K a year for instate. Add in cost of housing and books? Enjoy yourself down there in the heat and tumbleweeds, but up this way, you are going to have some massive debt unless you are going to pay it as a parent. It is about $28-$30K a year at a state school up here and if you go private, you might reach over $50K a year, which equates to $200K debt if you got no help.
This is the real world for some. If I was a WV resident, the debt would be much lower. WVU is a bargain compared to Pitt and Penn State. Go private up this way?
Lehigh $58K
Bucknell $48K
This is what we deal with up my way, so our average debt in this state are going to be WAY higher than some other states.
I went to Lehigh. Most students at Lehigh aren't paying anything close to $58K. Advertised price is for competitive reasons, but the reality is, a lot of students pay less than half that price.
honestly, i don't know how someone could have graduated with comp sci or accounting and not have been able to find a job unless they aren't willing to relocate. finance has been tougher, but those skills easily transfer to other jobs also. any accounting major that cannot get a job isn't looking enough.
There are plenty of small towns and rural areas where you will find good majors at Burger King, because there is no local market in the field, and the schools are too far from major metros to have good employer connections.
when i've read the reported averages, it's average of students WITH debt. for instance, I graduated with over $30,000, so i pull the average up, but if i graduated with $0, i wouldn't be counted.
I've heard around the same 29K for average debt per student and average debt per student with loans depending on the source and the method the study used.
yeah. have more people in fewer houses is hardly a major issue. I grew up in a house with my parents and my grandmother lived in an attached apartment. my sister graduated college in 2008 and lived with my parents for a year. i live in NJ and know 35-40 yr olds who live in their parents' basements.
who cares?
Three generations lived in a house on The Waltons, Adam, Hoss and Little Joe lived with Ben, and all of the Barklys lived together on the Big Valley.
That's the way lots of Europeans live and for the same reason as multigenerations do here. It is less expensive.
As long as everyone pitches in what's the fuss? Sure, you can't walk around naked or have sex just anywhere in the house but who cares?
I went to Lehigh. Most students at Lehigh aren't paying anything close to $58K. Advertised price is for competitive reasons, but the reality is, a lot of students pay less than half that price.
I'd say it's more for prestige reasons than really competitive. University with big price tag sounds fancy. In reality, it's mostly Honda Civics marked up to the price of an S-Class Mercedes and then they offer an "aid" package to make the price reasonable again and attract the qualified students who are shopping around for the school that will give them the most money. The only people paying the full freight are basically wealthy kids who don't belong at the caliber of school they are attending and basically are paying their way in.
I kind of got pinched with the rising UC tuition since I lost out on the need-based moneys after my second year since my mom's income went up. That hole has since been plugged with the Middle Class Scholarship in California. Of course, I still got the merit-based aid/scholarships which covered over half of my tuition/books. I just didn't have the need-based aid that covered most of my living expenses. My first year I borrowed a lot because I got suckered into the living in the dorms is important, my second year I actually had more aid/scholarships than my total cost (including living expenses). Third and fourth year I lost about $6,000 in need-based aid while the cost went up significantly at the same time so I had to borrow some for my last two years.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
