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Student loans

Discussion in 'Journalism topics only' started by buckweaver, May 9, 2007.

  1. Idaho

    Idaho Active Member

    Looking at my alma mater's web site:

    The current tuition/fees for a 12-credit semester runs $1,975.66
    For 15 credits it'll cost $2,099.66

    So that's $4,000 per year just for tuition and fees. Times that by five (one less than my six, one more than the 'normal' four) and it's about $20,000 per student just to register.

    On campus shared housing -- that mean's you get a roommate in your bedroom -- is $1,900+ per semester, or another $4,000 per year adding another $20,000 to the total cost of school.

    Add books -- the biggest ripoff on any campus, IMO -- food, clothing, utilities, insurance, car, fuel, etc., and I think an extra $6,000 per year is being conservative.

    So, $14,000 (minimum) per year is what it would cost me if I went to college today at what is a Carnegie Reseach 1 state university with a full spectrum of academic offerings.

    That'd be roughly $71,000 for a five year plan. Asking me to earn $20,000 per year (or get some grants, scholarships or employer-tuition reimbursement of some sort which is not impossible for most students) while going to college isn't too unrealistic, IMO. I made almost that much 10-12 years ago, so I think I could do it now. Hard work, for sure. But, sadly, the reality of going to college in the 21st century.

    Another thing youngsters often don't take advantage of is concurrent enrollment in high school or summer school where costs are greatly reduced but the academic credits just as real. My wife graduated from high school and was a junior in college after two quarters because of the college credits she earned in high school. I went to a bad high school where I didn't even know that was a possibility. If you are disciplined, a junior college isn't a terrible option for a year or two.
     
  2. Herbert Anchovy

    Herbert Anchovy Active Member

    I'm a young thirtysomething, I've played this game long and hard, and as you can imagine, I have my bills. College isn't going to get cheaper. With acceptance rates drastically down across the U.S., it's governned by supply and demand like never before. Call it a market correction or whatever else, but the young people preparing for college now better have a plan, because (A) it ain't going to be so easy to get in anymore and (B) you're going to really pay up the ass -- before, during and after -- to get what you want.

    Cape Codder, I wish I'd consolidated long before 2003, it would have saved me a lot of trouble. It's the single best personal financial move I've ever made.
     
  3. KG

    KG Active Member

    So a highschooler should be working a 30 hour/week job to save money plus concurrently go to college? Wow, and here I thought I was adventurous. Oh and in some states, at least in Georgia, a highschooler cannot work past 9:00 pm. When are they supposed to fit all of these college classes in to their schedule?
     
  4. Idaho

    Idaho Active Member

    That's not what I said at all. I said high school kids should, if possible, take advantage of concurrent enrollment programs because it will reduce the eventual cost and time needed to graduate from college.

    Concurrent enrollment classes happen during school, not after it. The classes count toward high school AND college requirements.

    I'm saying, however, college kids can and should work. A high schooler doing concurrent enrollment will shave time, and therefore expense, off the college years. In my district, the concurrent enrollment kids do not pay much -- if anything at all -- for the college credits they get.

    And, yes, I think a college kid can get away with a 30 hour/week job while taking 12-15 credits per semester and still be successful at both.
     
  5. buckweaver

    buckweaver Active Member

    I can vouch for the Georgia laws. My brother, a HS senior, has been sent home from his restaurant early because of the labor laws. And even on weekends, he's been sent home before midnight because of the driving curfew laws.

    As far as the joint-enrollment classes, I took some during my junior and senior years. They were cheap, and they got me off to a head start. ... But I wasn't allowed to take more than two college classes per semester because of pass-and-play rules for baseball. I had to be enrolled in (and pass, of course) at least two high school classes every semester to be eligible for sports. ... But to be fair, that's four extra core classes that I didn't have to pay full price for.

    As far as earning $20K a year ... boy, that's a pipe dream. I would have killed to make that much. Hell, I worked almost full-time hours -- which burned me out beyond belief -- at my hometown newspaper while going to school and I grossed about $17K then. Maybe I should have worked as a busboy instead.

    Lucky for me, Gannett offered a tuition reimbursement plan, so I was able to take advantage of that for two semesters. But the company that took over that paper had no such plan. SOL.
     
  6. Simon

    Simon Active Member

    I agree with Idaho in the taking dual-credit courses. I wish I would have taken a few more in high school.

    I don't think Community college is a good option for many people. College isn't just about the class. It's about growing up in an atmosphere where some mistakes are okay. Where if you do make a mistake and realize it, people will be supportive of you. It's about learning how to deal with people and get up and off to work/class on your own. I think the difference in myself two years ago and now is tremendous. Worth the $$$? Maybe not in the long run but I'm a better person.
     
  7. Idaho

    Idaho Active Member

    Who said SEC country doesn't have tough student-athlete standards. You had to pass TWO classes! :D

    I was lucky that I had a good job. The almost $20k I noted included tuition reimbursement benefits to a degree. I also worked two jobs during the summers during college while taking just one or two classes. One job also offered internship credits in addition to the paycheck and tuition assistance, so I reduced my school time that way.

    Burn out, yes. It happens to anyone working hard and making sacrifices. I couldn't have afforded college -- my dad is a school teacher, and we know how much money they get paid -- without working full time during the year and double time during the summer. But I did it. The degree was the goal and I worked toward that and didn't worry so much about the weekend parties. I also didn't date much because 1) I'm fugly, II) I didn't have the time or the wheels to go on dates and C) I didn't have the money to date much. Eliminating vices such as women, booze and such will keep you from those short-term emergency loans.

    Student loans are sadly a necessary evil for too many students. Even more sad is too many students max them out without realizing there will be a day when those things need to be paid off. I say that knowing very many students take those loans quite seriously and without being reckless in doing so.

    Another lesson I learned, get a job with the university. When Uma was finishing up, I got a second job at the school's financial aid office to make extra money and one of the benefits was half-off her tuition. I could have gone back to school for half off, too, but was done with that.

    I'm not trying to put myself up on a platform or to lecture people. I'm just trying to say there are ways to reduce, if not eliminate, the amount of student loans needed.
     
  8. John

    John Well-Known Member

    For the truly desperate:

    [​IMG]
     
  9. Simon

    Simon Active Member

    See, Idaho, that's the difference between your time and mine. I work part-time. There's no such thing as half-price tuition anymore at least for undergrads working in offices. I worked full-time during summers. But the thing is you HAVE to take these loans. I get some grants and such but it doesn't even come close to covering. (I receive some Gov. help because my parents low income) Your travel/food/books/rent/cell phone are barely covered by the money you make where as you could pay your bills. And I don't party every weekend, I have a cheap steady girlfriend so no fancy dates.
     
  10. Idaho

    Idaho Active Member

    I believe you, Simon. It is more expensive now than 10-15 years ago.

    I'm posting my thoughts as a father of four kids that will have college to pay for more than as a recent/current student. So I see things as how to prevent the inevitable nightmare if possible. Still, I see the cost of a college education and know it's going to be painful, especially when I'll have three in college at the same time.
     
  11. Point of Order

    Point of Order Active Member

    Generalize much?
     
  12. blueview

    blueview Member

    With the ever-inflating cost of higher education, it seems to be that student loans are a way of life, unless your parents are oozing cash. Just told a job shadow who was trying decide on what college to go to that the chances were high of taking on student loans and/or work-study.
     
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