Student loans

[onewhippedpuppy]

Originally Posted by Porsche-O-Phile

If I can stay employed it'll all be fine. If not, well... It'll suck. And there are a lot of people in this line of work that have ended up in exactly that predicament. Engineers too. But it's risk/reward. No guts no glory as I see it. Yes I could get really screwed by the job market but I could get screwed in just about any job the same way. There's no "safe harbor" or "sure thing". There are even MDs out of work right now but statistically those with advanced professional type degrees have lower unemployment rates and it tends to suggest that it's a good gamble if one is reasonably dedicated and stays hungry.

Yup. Though I think most job shortages are location specific, and those willing to move can typically find work no matter what the industry. When business aviation tanked in 2008 there were many engineers laid off from our local aerospace companies, most of them were able to find jobs but it required a move. You gotta do what you gotta do.....

[gacook]

I think you've hit the nail on the head about being willing to move.

I'm slightly stagnant in my current position; little hopes of advancement any further (until the old farts start retiring/dying off) and I'm performing work that is well under my "skill set." However, as much as I dislike my job, I'm here by choice. I've had much more lucrative offers, both private and public, but they all require a move. While I'd personally LOVE to get out of the town I'm in, I'm pretty much stuck because this is where my kids live. Divorced their mom a few years back, and she's a great mom so I'd never dream of trying to take the kids away from her to move somewhere with me. So...youngest kid turns 6 in a couple days; means I'm stuck here for another 12 years...

[GH85Carrera]

Back when computers were just starting to show up in the average business I thought a computer degree would be a good idea. I went to a local for profit college to ask about it. They show me around and showed me a bunch of old out of date computers. They had the loan papers drawn up and wanted me to sign. I looked at the total and almost fainted. I just walked out.

I see several for profit colleges around and I wonder how many of them have a degree program that means anything real. I never did the college thing. I have a job that is mostly sitting in front of a computer, or two or three. I am never going to be rich, but I hope to retire earlier than my last boss. He took early retirement at age 92.

I have had a job since I turned 16. Since then I have been unemployed a total of 5 work days.

[MotoSook]

First there is this:

http://forums.pelicanparts.com/off-topic-discussions/683180-david-mccullough-jr-commencement-speech-you-not-special.html

Too many parents think their kid should go to college, yet know not the reality of what it means. They (and the idiot guidance counselors at school) are so out of touch with the real world that they give false hope and poor guidance.

And then there is this:

http://forums.pelicanparts.com/off-topic-discussions/590903-more-college-jobs-career-choice-2011-grad-salary.html


A student loan is the best investment in one's future....but if you invest poorly...like spending it on a degree that's not going to pan out...you are a fool.

I didn't read all the posts, but the ones that talk about well-roundedness is a bunch of crap. You don't go to college to get well-rounded in 4 years or with the few electives you are going to take. Life and the preparation for life does not start at college. If an adult (notice I did not say child) is not prepared prior to college...chances of success are less.

It is not the banks' nor the colleges' fault.....

[onewhippedpuppy]

Originally Posted by GH85Carrera

Back when computers were just starting to show up in the average business I thought a computer degree would be a good idea. I went to a local for profit college to ask about it. They show me around and showed me a bunch of old out of date computers. They had the loan papers drawn up and wanted me to sign. I looked at the total and almost fainted. I just walked out.

I see several for profit colleges around and I wonder how many of them have a degree program that means anything real. I never did the college thing. I have a job that is mostly sitting in front of a computer, or two or three. I am never going to be rich, but I hope to retire earlier than my last boss. He took early retirement at age 92.

I have had a job since I turned 16. Since then I have been unemployed a total of 5 work days.

Choice of school is another interesting factor. I've seen people post on here that they are paying out of state tuition "because that's where my kids want to go". GTFO. While there are exceptions, in most industries going to your local in-state college will yield just as good of a job as going to an expensive and prestigious out of state college. I was a manager before even graduating from college, and was in the interesting position of seeing the salary of other new grads as part of my role. Our company offer to an MIT grad was only a few hundred more than they paid me, an average student from an in-state school. Of course by that point I already had two years of 40+ hour/week experience, another advantage of my location. After a few years of experience employers cease to care about your degree anyway.

[MotoSook]

I have techs that make a base between 60K and 82K. 60K to start with an associate tech degree or related experience. Within 3 yrs they can progress to 82K....with overtime some make 100K or close. That's not counting bonus and company contribution to deferred-pay plans.


I'm tired of hearing people moaning about lack of jobs and poor pay....there are plenty out there if they are smart and eager to learn. I've interviewed plenty who thought they were smart and deserved a good paying job....sorry you do not.

There will always be those who can and those who can't. Understanding where you stand along that range is important.

[Brian in VA]

I recently learned that the gov't is helping out in one big way: 10 years of regular payments and the same 10 yrs in a "service profession" (with no interruptions or it starts over) and the loans will be forgiven. Nurses, social work, etc. Certainly worth looking up.

For me there was no choice. Got scholarships and some small loans for undergrad, but all loans for med school. Can't pay those, no other options. $500k seems absurdly high unless you go private (Harvard undergrad w/out help) and private out-of-state med school. Again comes down to choices. Then again, that's how you become a world leading academic researcher vs me in private practice.

I think though it's worth noting that the universities continue to ratchet up costs to students at an unbelievable rate. It has become an absurd money making industry. Look at the enormous foundations the schools have. Many could choose not to charge students at all at this point (Harvard, Texas, Penn St etc.)

[Jferr006]

I recently learned that the gov't is helping out in one big way: 10 years of regular payments and the same 10 yrs in a "service profession" (with no interruptions or it starts over) and the loans will be forgiven. Nurses, social work, etc. Certainly worth looking up.



For me there was no choice. Got scholarships and some small loans for undergrad, but all loans for med school. Can't pay those, no other options. $500k seems absurdly high unless you go private (Harvard undergrad w/out help) and private out-of-state med school. Again comes down to choices. Then again, that's how you become a world leading academic researcher vs me in private practice.

I'm sure moving to Ireland for med school had something to do with it and I may be off on the number but, I'm pretty sure she said that much. But, yes gainfully employed and not in a dead end career. Proportional to the eventually
Salary I'm sure it'll even out.

[fintstone]

don't think that would be atypical if you include undergrad...if you did not have any outside contibitions from work or family. The med school my daughter went to estimated $62K per year...and would work to get you loans/aid for that amount.

[fintstone]

I don't believe government should be in the business of education...whether it be scholarships, finacial assistance, or student loans. When I was in high school, I talked to someone about a student loan and they treated it just like any other loan. They wanted to know what degree I was going for, my high school grades and SAT score and my major...as well as if I intended to work and if I had any other income sources. Purely business. Wanted to know how secure their investment was and the potential return on investment (ROI). I intended to study business and they turned me away. They were, however, giving them to doctors, lawyers and engineers. Best thing that ever happened to me was getting turned down.

[Por_sha911]

Originally Posted by red-beard

A person with a BA degree in 1st century latin poetry isn't going to find it easy to get a job either, no matter their GPA.

He got a job: he was being paid to sit around Wall Street and protest how unfair life is.

[911SauCy]

Originally Posted by MotoSook

I have techs that make a base between 60K and 82K. 60K to start with an associate tech degree or related experience. Within 3 yrs they can progress to 82K....with overtime some make 100K or close. That's not counting bonus and company contribution to deferred-pay plans.


I'm tired of hearing people moaning about lack of jobs and poor pay....there are plenty out there if they are smart and eager to learn. I've interviewed plenty who thought they were smart and deserved a good paying job....sorry you do not.

There will always be those who can and those who can't. Understanding where you stand along that range is important.

Exactly

[RWebb]

well, last night I found out where liberal arts majors go after they graduate:

marketing

[jcommin]

I personally think the cost of college is inflated. My youngest is applying to several small liberal arts schools in the Midwest. Met several parents during the interviewing process. All look for scholarship money. They chose based on who gives them the most. What I'm starting to see is the the private school tuition gets reduced to that of a state school.

It's almost like a car rebate - the amount of the discount is built in the price.

[MotoSook]

This is well documented and schools see tuition rate as a factor in the prestige of the institution. Particularly Ivey League schools.

I personally think the cost of college is inflated. My youngest is applying to several small liberal arts schools in the Midwest. Met several parents during the interviewing process. All look for scholarship money. They chose based on who gives them the most. What I'm starting to see is the the private school tuition gets reduced to that of a state school.



It's almost like a car rebate - the amount of the discount is built in the price.

[RANDY P]

Education is one of those things that not can, but WILL benefit the future of the country. Making the population educated will keep this country at the forefront of things- so with that said the Govt. should influence behavior by making decent loans available.

Just have to rein in the cost, somehow- find a way to make colleges more accountable for their costs instead of abusing the lending process. Since the colleges get to dictate their fees, the loans have to follow or it's pointless.

Should have some way of holding them accountable for their costs. Just, how though?

rjp