Comments on: Surprised at the staunch defense of student loans http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/ Thu, 17 Dec 2009 12:51:43 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: bluntmoney http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/comment-page-1/#comment-43199 bluntmoney Tue, 30 Sep 2008 04:25:40 +0000 http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/#comment-43199 I would question whether the opportunities would really be better or not. If he still wanted to, well, he'd have to make his own choices. My brother was not 18. He worked during the day and attended school at other times. I would question whether the opportunities would really be better or not. If he still wanted to, well, he’d have to make his own choices.

My brother was not 18. He worked during the day and attended school at other times.

]]> By: Twiggers http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/comment-page-1/#comment-43187 Twiggers Mon, 29 Sep 2008 23:51:14 +0000 http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/#comment-43187 I'm not saying it's NOT possible....but is it possible for him to do that without having to work a job that might compromise his education? I'm all for kids working during college (a very strong proponent of it), but not above a point where it affects performance. What would you do if your son said "Hey, I want to have better opportunities and go to the more expensive school?" I guess I just feel that college is one of the most important periods in a person's life...and going cheap on it is the same thing as buying the cheap car that breaks down a month later. Good for your brother.....was he 18 and fresh out of high school? It's rare for employees to pay someone to attend school full-time during the day ! Usually people work during the day, attend school at night, and then sign away their right to work for anyone else for a period of 3-5 years. I’m not saying it’s NOT possible….but is it possible for him to do that without having to work a job that might compromise his education? I’m all for kids working during college (a very strong proponent of it), but not above a point where it affects performance.
What would you do if your son said “Hey, I want to have better opportunities and go to the more expensive school?”
I guess I just feel that college is one of the most important periods in a person’s life…and going cheap on it is the same thing as buying the cheap car that breaks down a month later.

Good for your brother…..was he 18 and fresh out of high school? It’s rare for employees to pay someone to attend school full-time during the day ! Usually people work during the day, attend school at night, and then sign away their right to work for anyone else for a period of 3-5 years.

]]> By: bluntmoney http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/comment-page-1/#comment-43171 bluntmoney Mon, 29 Sep 2008 18:38:59 +0000 http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/#comment-43171 Yes, I know that a state school might run $10,000 per year. The closest one to us is currently at $5,409 per year for the 2008-2009 school year. Add in another $1000 for books & fees, and you've got $6409 per year. Which, based on the <a href="http://data.bls.gov/cgi-bin/cpicalc.pl" rel="nofollow">CPI inflation calculator</a> is not really a whole lot more than when I attended the same school for $2500 per year. I don't think it's unreasonable to think that a person can't come up with $6500 or so per year. And no, that's not including living expenses, because you have to live somewhere no matter what. And you can live cheaply with roommates. So that's about $541 per month per year to graduate debt-free. How much are people paying per month on their student loans for a decade or more? Is it near that number? What about total with interest? I am assuming $10k per year for my son, and think it's completely doable, with some caveats (live at home, go to a local school, don't buy a fancy car with payments, ride a bike if parking is too much, work during the summers and breaks, start saving early) What I don't understand is why it's not even considered POSSIBLE. Just like it's possible to pay cash for a car. Maybe most people don't do it, but that doesn't mean it can't be done. My brother graduated last year without student loans. His work paid for it. Yes, I know that a state school might run $10,000 per year. The closest one to us is currently at $5,409 per year for the 2008-2009 school year. Add in another $1000 for books & fees, and you’ve got $6409 per year. Which, based on the CPI inflation calculator is not really a whole lot more than when I attended the same school for $2500 per year.

I don’t think it’s unreasonable to think that a person can’t come up with $6500 or so per year. And no, that’s not including living expenses, because you have to live somewhere no matter what. And you can live cheaply with roommates. So that’s about $541 per month per year to graduate debt-free. How much are people paying per month on their student loans for a decade or more? Is it near that number? What about total with interest?

I am assuming $10k per year for my son, and think it’s completely doable, with some caveats (live at home, go to a local school, don’t buy a fancy car with payments, ride a bike if parking is too much, work during the summers and breaks, start saving early)

What I don’t understand is why it’s not even considered POSSIBLE. Just like it’s possible to pay cash for a car. Maybe most people don’t do it, but that doesn’t mean it can’t be done.

My brother graduated last year without student loans. His work paid for it.

]]> By: Twiggers http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/comment-page-1/#comment-43167 Twiggers Mon, 29 Sep 2008 16:29:24 +0000 http://www.bluntmoney.com/surprised-at-the-staunch-defense-of-student-loans/#comment-43167 The problem with this whole argument is that an average state school is going to cost over $10K PER YEAR plus all the miscellaneous expenses. Even with some scholarships (and most of the scholarships are not that big anymore...they are nickel and dime scholarships that 10,000 people are competing for) and a crappy part-time job, you'll still end up with loans...or pray for your parents to go into debt for you. I'm in grad school and I don't know one single person who graduated in the last 5 years who did not have some type of student loan debt. Some only had $5000 or $10,000 while others had $100,000....but they all had student loans. My lab mate lived at home, her parents paid for part of her tuition and they paid for her car...and she still has about 20K in debt. In fact....anyone out here reading graduate with ZERO student loans in the last 5 years who did NOT have parental help or an athletic scholarship? The problem with this whole argument is that an average state school is going to cost over $10K PER YEAR plus all the miscellaneous expenses. Even with some scholarships (and most of the scholarships are not that big anymore…they are nickel and dime scholarships that 10,000 people are competing for) and a crappy part-time job, you’ll still end up with loans…or pray for your parents to go into debt for you.

I’m in grad school and I don’t know one single person who graduated in the last 5 years who did not have some type of student loan debt. Some only had $5000 or $10,000 while others had $100,000….but they all had student loans. My lab mate lived at home, her parents paid for part of her tuition and they paid for her car…and she still has about 20K in debt.

In fact….anyone out here reading graduate with ZERO student loans in the last 5 years who did NOT have parental help or an athletic scholarship?

]]>