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Graduated in 2006 - State school - Worked while going to school. Graduated debt free and bought a home 2 years later.
I don't understand why people pay 40K a year for college. There are only a hand full of programs that I would consider (Stanford, MIT, Harvard... ) sending my son to if he got in. Sadly there are many mid tier schools that charge like they are top tier not to mention the degree choice.
I have no sympathy for those who partied their way through 6 years to get a BA in Liberal Arts and then look around like the world needs to pay for their good time.
Graduated in 2006 - State school - Worked while going to school. Graduated debt free and bought a home 2 years later.
I don't understand why people pay 40K a year for college. There are only a hand full of programs that I would consider (Stanford, MIT, Harvard... ) sending my son to if he got in. Sadly there are many mid tier schools that charge like they are top tier not to mention the degree choice.
I have no sympathy for those who partied their way through 6 years to get a BA in Liberal Arts and then look around like the world needs to pay for their good time.
I think that the biggest issue in the whole college debt fiasco is the view that "there is a college for everyone". We are too afraid to tell some people that they are not college material. So, instead there exist colleges that will accept you with a 2.9 GPA in HS and 850 SAT. And charge you for the privilege without giving you any tangible advantage for your future career.
In my case, I did go to a program that I think most people would view as worth the price tag if asked.
Graduated from an in state uni in 2006, had about $7k in student loans that my parents paid for. They paid for a good portion of my college sunder the assumption that I went to an in state school. They didn't pay for any of grad school. At the peak of my grad school program I had about $18k in loans at 6.75%. But, I started working when I was ABD so I actually paid it all off before I graduated in 2013.
I dropped out of my first semester of college (on my dad's dime). I was not ready for college as I was too eager to conquer the world and I honestly didn't know what I wanted to do when I grew up! I tried going back as an adult and managed to finish one whole year, but then life got in the way--work, kids, etc. Fortunately, I somehow managed to do pretty well for myself (I make well over six figures) without a college degree.
My kids both went to college--one at $20k a year and one at $15k a year. They each had small loans but we paid for the majority of their schooling. After they graduated, we paid off their loans.
Daughter got a post graduate degree but we did not pay for that. I have no idea how much she borrowed but my guess is a lot.
Took 10+ years to finally get my bachelors. Had a life somewhere in there. $50k+ in student loans. 7.25% consolidated. I pay just over the minimum in graduated payments. It's just below the mortgage in snowball debt payment hierarchy.
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