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It really depends on the kid's situation, and what the kid intends to do. Unfortunately, most guidance counselors are useless, and many aren't even aware of the modern debt situation, or the scarcity of jobs for new graduates.
Attending community college to build up transfer credits is often a good idea.
This is a good idea. You need to take care that the courses you take transfer to your intended four year college. Nor are CCs free; ours is ~$100/credit in-state, $154/cr. for nursing courses. So 60 credits (two years) at a CC will cost $6000. Plus, you have to live somewhere. If you live in your parents' home, you're getting free room and board (unless they choose to charge you). You also have to have some means of transport to the CC, either bus or vehicle. Plus there are books and fees.
But even before then, students who want to attend college should "load up" as much as possible on AP credits during highschool. Many colleges accept AP tests as forms of transferrable credit (many require the student obtain a 3 or 4 out of five). So, students can often shave off several prerequisites or required minimum credit-hours just by passing their AP tests.
High schools that don't offer many AP tests will sometimes have arrangements with a nearby community college to allow students to attend at very little (if any) cost to the student.
Most colleges require at least a score of 4 on AP tests, sometimes a 5, and most have limits on how many they'll accept and in what subject areas and for what purposes (elective, gen ed, etc). AP courses have been oversold as a means to cut down on college costs.
This can be a good option for students who want to pursue a trade after highschool. If your school doesn't have an autoshop or a wood shop or a machine-tool setup, a community college or training institute often will, and the highschool can often set up a course with those institutions for interested students.
Clubs, activities, and volunteer positions can also set up students with training that will cost money once they leave school. For instance, many volunteer fire departments will take on teenaged trainees, and will subsidize the cost of courses related to medical skills, or even courses that can be applied toward EMT training. Some school-sponsored clubs offer students chances to gain skills in areas like scuba diving.
Always be on the lookout for clubs or activities or courses that can offer credits, credit-equivalents, or vocational training for free or for reduced prices.
"Credit-equivalents" are another bill of goods. It is up to the college to take or reject these; many colleges will not accpet vocational credits, either. EMT is hardly college level coursework, nor is scuba-diving.
Once you are out of highschool, those opportunities diminish. But it's important to be aggressive about seeking out scholarships, and also realistic about income potential in whichever course the student pursues.
Also, as tempted as parents might be to co-sign on student loans, this is a bad idea. Those loans are subject to the same rules as other student loans.
As much as you hear about scholarship money going begging, etc. it is not true. Most scholarship money comes from the colleges themselves.
There are programs to erase "SOME" of your debt. For instance, I'll be a teacher with a masters degree with about 80k in debt. The federal govt. will erase 7k if I teach in a low income area. 7k on 80k debt is like.... interest? lol I'm still going to be paying at least 80k. While trying to get by on about 38k a year. So with my students loan payments, rent (buying is out of the question) and my car payment... I should be debt free in ohhh... right before retirement? There is something wrong when it costs this much just to be lower middle class... People need to realize that the rich are getting richer, and the poor and middle class are getting poorer. People need to stop electing people who only look after the safety and welfare of 2% of the country just because they control 90% of the money in America.... SOMETHING IS WRONG!!! WAKE UP... PURE CAPITALISM IS NOT WORKING!!!!
Did you just figure this out now? You had no idea you would end up with 80k in debt, make 40k as a teacher, factor in rent, transportation, eating expenses to have a ball park when this would be paid off? I don't get what you're complaining about.
I think maybe the government should fund a mandatory accounting course prior to going to school so everyone could figure out how to plan their life out. Or maybe just a math course.
Why don't you give us about a half dozen examples of these "many better options"?
How much of the debt is for living costs? I'm sure all of us who went to college know about some of the options to reduce those costs. Instead of high-dollar dorm rooms, renting an old mobile home, or a number of students sharing rent on a house, doubling or tripling up for bedrooms.
Of course working 2 jobs in summer months, cutting back to one full time job during school.
If one is unable to handle working and finding time for 15-18 hours of classes, then work and take 12 hours instead but also go in the summer to make up for it.
Community college is obviously a smart option. Looking for scholarships provided by businesses because there still are those, but often they are merit scholarships, not feel-sorry-for scholarships.
Community college is obviously a smart option. Looking for scholarships provided by businesses because there still are those, but often they are merit scholarships, not feel-sorry-for scholarships.
Did you just figure this out now? You had no idea you would end up with 80k in debt, make 40k as a teacher, factor in rent, transportation, eating expenses to have a ball park when this would be paid off? I don't get what you're complaining about.
I think maybe the government should fund a mandatory accounting course prior to going to school so everyone could figure out how to plan their life out. Or maybe just a math course.
What about for those buying a house or car they can't afford? How about those who didn't save for retirement?
Your argument suits only YOU and people just like YOU.
I hope that you have saved for your retirement since no one my age, nor the government, will be able to help you. No jobs + high student loans= no boost to the economy except to the 3 student loan companies who have most of their employees overseas, which = no tax revenue for the US.
How much of the debt is for living costs? I'm sure all of us who went to college know about some of the options to reduce those costs. Instead of high-dollar dorm rooms, renting an old mobile home, or a number of students sharing rent on a house, doubling or tripling up for bedrooms.
Of course working 2 jobs in summer months, cutting back to one full time job during school.
If one is unable to handle working and finding time for 15-18 hours of classes, then work and take 12 hours instead but also go in the summer to make up for it.
Community college is obviously a smart option. Looking for scholarships provided by businesses because there still are those, but often they are merit scholarships, not feel-sorry-for scholarships.
My daughter rented two apartments from 2007-2009 in Boulder, CO while attending the U of CO. One was a 2 BR with one roommate, the other was a 4 BR with 3 roommates. (Boulder does have laws prohibiting huge numbers of kids from renting together.) Anyway, both times it was about $500/mo for rent and utilities. That seems to be the going rate in Boulder. Plus there always seemed to be another $500/mo for food and other costs.
Two jobs in the summer? It's hard enough to find one!
Re: business scholarships-these are usually small amounts and non-renewable (that is, one time only). While I'd never turn any money down, they're not enough to pay for much. They often have NO objective criteria.
The problem with retraining everyone for nursing or engineering is that we'd end up having a large oversupply of nurses and engineers. As a nation, we need to grow up and come to grips with the fact that only about 15% of all jobs require or make any real use of college education and that not everyone can be solidly middle class or better. Basically, we need to decrease the amount of people who are going to college.
So we need to encourage people to cement their status in the lower class - just flat out embrace it? Well, that's one way of looking at it.
Education inflation is not going away, and that's not a bad thing. However, we need to make difference educational avenues socially acceptable. Not everybody needs to go to university, but that's what they are encouraged to do because of the negative connotations that going to something like a trade school has. We need to take the stigma off of non-university post-secondary education.
What about for those buying a house or car they can't afford? How about those who didn't save for retirement?
Your argument suits only YOU and people just like YOU.
What are people like me? And what is your argument?
The people who have enormous student debts they can't pay off, are the same ones that will have mortgage problems. And how do you buy a car you can't afford? (of course there are some circumstances which are a valid reason, but the majority arent)
This is what happens when you don't realize there are people EVERYWHERE trying to dupe you, scam you, and just look out for their best interest while discarding yours. Do your own leg work, and not what someone tries to feed you. Its the same people that would say "yeah, womens studies is a great field!", along with the ones that say you can afford a $500,000 house, or that you can afford a $4,000/mo mortgage with a household income of $4,400/mo (but they leave out the part you'll have to live on ramen noodles and water forever)
It is sad so many were mislead to get "higher education" at a high cost when there were no jobs and everyone who really looked at the situation knew there would not be jobs after college. Personally, I think one of the biggest frauds in history is the higher education needed scam by colleges.
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There is something wrong when it costs this much just to be lower middle class... People need to realize that the rich are getting richer, and the poor and middle class are getting poorer. People need to stop electing people who only look after the safety and welfare of 2% of the country just because they control 90% of the money in America.... SOMETHING IS WRONG!!! WAKE UP... PURE CAPITALISM IS NOT WORKING!!!!
