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70% of college students/parents don't consider income when borrowing

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  • elessar78
    replied
    I certainly did not consider the long term ramifications when choosing my major. I wanted to do something I was passionate about. Unfortunately, what you're passionate about at between 18-22 may not exactly be the same thing when you're 30.

    I don't think my wife did either. She spent the money for grad school into a field that's not very lucrative. I think we were both idealistic when we were younger and now the value of pragmatism is catching up with us.

    If I had to do it over, I would definitely do more research into the end result. Try to figure out what kind of life I wanted down the road and what vehicle would get me there. (Interesting note: I read somewhere that the word "career" is from the french word carriere which means "carrier"... I like the idea that it's something that takes you from one place to another.)

    Now I'm in my 30s, I'm trying to figure out if I need to change my path or just up my motivation in my current career.

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  • disneysteve
    replied
    nmboone:

    A. You took out what you needed to get through school. So did I. I think the point being made is that students and their parents don't consider the end result when choosing the school. Does it make sense to go to a school that is 40K/year to get a social work degree and have a job making 35K/year? Or would it make more sense for that student to go to a state school for 15K/year? Either way, the student might have to borrow their way through, but at least at the cheaper school, the debt accumulated would be affordable to repay.

    C. I was one of those kids in the advanced classes, AP, gifted program, etc. So yes, pretty much all of my close friends were college-bound and career-oriented. And from what I know (thanks to Facebook), virtually all of them ended up in their intended career. I know there were plenty of kids who didn't. Just among my immediate circle of friends, almost all did.

    Leave a comment:


  • nmboone
    replied
    Wow this thread is a bit depressing!!

    A. Yes I absolutely hate paying back those loans but I took out however much I needed to get through school! And without a thought as how I would pay it back. I believe an education is extremely important and was worth every dime. If I find myself in a bad predicament I will do what I must.

    B. I took almost two years to go back to school. All that time off working at crappy jobs made me want to go back to school more!

    C. I will be 27 in two months and still do not know what I want to do. Seriously DS EVERYONE you knew knew what they wanted to be in life? Then what the hell is wrong with ME? I change what I would like to do every other day!!

    Leave a comment:


  • Joan.of.the.Arch
    replied
    Tuition loan ads on TV? No, I've never heard of those. Perhaps they do not advertise on TV in my area.

    Leave a comment:


  • Mike75
    replied
    Its about marketing

    Have you ever noticed these loan adds on TV? They never talk about career prospects of your kids and how will he/she be able to repay the loan? They work on our feelings of guilt about not being able to afford to send our kids to college....

    Leave a comment:


  • disneysteve
    replied
    Originally posted by LivingAlmostLarge View Post
    Then we shouldn't be allowed to get married at 18. I don't like the double standard of being mature to marry, drink, drive, bear arms. It's weird that we should be 25 to drink, yet how many people are pregnant before 18 or right after?

    It's just strange that we hold such a double standard instead of making 18 the age for everything.
    I think that is comparing apples, oranges and bananas.

    How a drug affects someone is partly age-based so I don't see what that has to do with the other things you mentioned. Some things are about emotional maturity. Others are about physical maturity.

    Leave a comment:


  • LivingAlmostLarge
    replied
    Then we shouldn't be allowed to get married at 18. I don't like the double standard of being mature to marry, drink, drive, bear arms. It's weird that we should be 25 to drink, yet how many people are pregnant before 18 or right after?

    It's just strange that we hold such a double standard instead of making 18 the age for everything.

    Leave a comment:


  • disneysteve
    replied
    Originally posted by LivingAlmostLarge View Post
    Besides the point at 18 we choose our careers but we aren't old enough or mature enough to drink legally?
    Not sure what one has to do with the other. Lots of studies have shown that the brain isn't fully developed until about age 25, I think. Alcohol has a different effect on an 18-year-old than on a 21 or 25-year-old. There are many who feel a drinking age of 21 is too low based on the research.

    Leave a comment:


  • LivingAlmostLarge
    replied
    How about something that uses your knowledge from just high school? And it could be as simple as working working some how in an under priviledged area.

    Besides the point at 18 we choose our careers but we aren't old enough or mature enough to drink legally?

    Leave a comment:


  • disneysteve
    replied
    Originally posted by MonkeyMama View Post
    the fact is most people are not ready to choose a career and commit to college at 18.
    Perhaps I just hung with a different crowd but almost everybody I know and went to school with knew what they wanted to do. I decided I wanted to be a doctor when I was in 4th grade. I had friends who knew they wanted to be teachers or computer programmers or nurses or research scientists or work in the financial sector. I had a couple of friends who changed majors in college but a huge majority of them did not. Almost everybody I was close with graduated in 4 years and went on to their intended career or the graduate school needed to get to their career.

    Certainly, there are some high school kids who aren't quite sure what they want to do, but I think most have a pretty good idea.

    Leave a comment:


  • Joan.of.the.Arch
    replied
    Since Peace Corps is being mentioned as an alternative to college, I would just like to point out that, in most cases, one must already have a college degree to go into Peace Corps. You see, Peace Corps is not just about willing bodies to go work. There are already plenty of will bodies to work in the communities that Peace Corps serves. Peace Corps brings ~knowledge~ to the poor foreign countries they are in. So if you've been to college and have a degree that enables you to figure out how to safely get alum out of the earth, clean it up, and grind it up enough to use it to precipitate large biological contaminants from the nearest water source for a village and can then figure out a way to sustainlably further treat the water for chemical contaminants and smaller biological contaminants---then, yes, the Peace Corps needs you to teach the rest of the village how to do this. If all you know is how to turn on your brushed nickel water faucet in your parent's granite surrounded kitchen sink, then you might not have anything to offer the Peace Corp.

    Not to say that Peace Corps is all about water, but you do need to have real, needed skills for Peace Corps as it presently exists.

    Leave a comment:


  • MonkeyMama
    replied
    LAL - I think you nail it on the head.

    While I agree going to college is important while young, the fact is most people are not ready to choose a career and commit to college at 18. I suppose a solution is community college and such. It really shouldn't be so looked down upon. IT's an extremely viable solution for the undecideds of the world, and those not emotionally ready to be on their own. Peace corp, etc. is another angle to the same end. A much cheaper way to "find yourself," anyway.

    Which is the other thing. How many kids at 18 who KNOW what they want to do, get pushed into doing what they don't want to do? PArents plan their kids college days from before they are even born. Which means they usually don't take into account what is best for their child. I have seen it with MOST of my friends from high school. They all have pre-law and pre-med degrees, and they work in retail because they never had any true support from their parents (but for a pricey degree) and have no idea how to move on with their lives. My husband falls in that category. Their parents all had good intentions and paid bucko books for big college degrees that will never be used. IT's so much more than just wasting 4 years in college and having to start over. For my friends and my husband, they are emotionally unable to pursue the career they want to because it has been so beaten into them that it is "wrong" to pursue a low paying career that you love. I have financially supported my husband for 7 years and he is still scared to jump off into the career he rather be in. Because he is *supposed to* support us with such six figure job? (MEanwhile he is working for LOW PAYING jobs and not working at all for 7 years - this is better???) But even my female friends seem emotionally frozen since they disagree with their parents chosen career path. IT's just SAD, and yet SO COMMON.

    Leave a comment:


  • Snippa
    replied
    Originally posted by disneysteve View Post
    I think the longer you wait before going to college, the less likely it becomes that you will actually do it. If someone works for 2 years and is established in a job they like and has gotten used to having that weekly paycheck, what are the chances they will give it all up to go back to college?
    I agree! I've known MANY people who have great intentions of "going back to finish that degree" who still haven't, and probably never will. It's a lot harder to go to college with kids and spouses to care for. Not to mention the financial aspect.

    Dee

    Leave a comment:


  • LivingAlmostLarge
    replied
    I understand the going back to school after 2 years working is hard. But heres' the deal. A lot of studentas are ready at 18 to chose their future.

    Second, I wonder if we didn't require 1 or 2 years of peace corp or mission work with the underpriviledged wouldn't make us less materialistic and more humble and grateful for what we have? That it wouldn't mature us? I'm not sure about the military service, although many countries have it.

    But I like the idea of having young people spend a couple of years working with those who are truly in need. And paying them and giving them a chance to see life outside of the ivory tower.

    Leave a comment:


  • Scanner
    replied
    DisneSteve,

    I think your values reflect mine for sure. I think the problem is, when you get right down to it, money. Sure, go away to college. . .but you can't change majors 5x either, can you?

    That is simply unsustainable for most families nowadays (and maybe in days past too).

    What life lessons are important at college? The 3 "B's"? Beer, Botany, and Beowulf?

    No, seriously, I know what you mean - an ability to critically think, an appreciation and understanding of the scientific method, an ability to express yourself intelligently orally and in writing and an endowment of advanced literacy are probably the key components of a college education, not whether you majored in Philosophy or Chemical Engineering. I get that.

    The problem is you can get into Chemical Engineering and just decide it's not for you - too math intensive, rote calculations, some tedious experimentation. .. then you jump to Philosophy. . .my ex-roomate did that and pretty much didn't graduate college til age 24.

    That being said, he was going at taxpayor expense due to racial quota requirements at the time (late 80's) and meeting the college's mission of diversity so he could afford to.

    But had he not, it would have cost his parents a small fortune. Even a doctor couldn't afford to put their kids through that, especially nowadays with what a lot of docs make.

    Leave a comment:

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