It's often unavoidable--especially for law and med school. I was just noting that a home and car are not the only advisable debts that require interest.
I'm sure Obama's liberal economic advisers understand the complexities of this common Republican complaint. Anyway, I didn't vote for Obama because I agree with his economic policy, though I imagine he'll do better for the nation than Bush and the Republicans did. Seriously, how can generic Republicans (I have a lot of conservative values and have registered Republican but recognize the hypocrisy of the Republican party) pretend like we didn't have 8 years of Bush?
My husband came from a poor family who expected him to support them. He worked for 10 years to graduate from college, and he took out student loans. We just paid them off. However, it was worth it. He makes a whole lot more money today because he managed to earn a college degree. Sometimes, you have to do what you have to do. Working alone doesn't necessarily get someone through school.
School is too expensive to get through without student loans anymore, Supa. In the 70's when tuition was $139 a semester, a dorm room was $125 a semester, cafeteria food was $360 a semester, and books were cheap that may have been true. I worked my way through with a part-time job and small contributions from Mom and Dad who never had to use their savings to educate me. Buts costs have increased tenfold, while student job wages have only tripled. The average undergrad owes about $20,000 in student loans upon graduation. Often Mom and Dad help pay it off because that low-interest student loan is a cheaper way to pay the kids college education than taking money out of their investment portfolio where it earns more interest. Some more tightening of the rules needs to be done. Right now, you don't have to start paying off the loan until you are out of school. So we have hundreds of "professional students" around LSU who just keep taking courses forever and never even start to pay off their high student loans. We have a guy down the hall, 47 years old and still owes $60,000 in student loans, but he keeps enrolling for a course a semester so he doesn't have to pay it off. This is a loophole that must be slammed shut.
What a bunch of bull. I went through school without loans from 2000-2004. I had a job at UPS in Port Allen throwing boxes about 20 hours a week. They paid my tuition and 8 dollars an hour besides which covered most of my living expenses. Because I qualified for TOPS plus a 400 stipend and a 500 per semester scholarship the university cut me a check every semester which paid for rent. I could have done without this by working full time at UPS during the summer. I never had to touch the money my folks had saved for me and I paid off a 60 month car loan in 24 months. College is very doable without loans even today. I am proof.
Exactly right. I worked my way through, started in Jan. '70, graduated in May 73. I had 12 hours credit from ACT test, then averaged 17 hours per semester to get out in 7. If I'm paying the bills, I was going to get my money's worth. Tuition was 97.50 my first semester. I pumped gas for a while, then worked for an oil co. washing co. cars, changing oil, fixing flats, and mount & balance tires. I still plug one of my tires once in a while, if Discount Tire refuses to fix one cause the nail is too close to the sidewall. I earned $2,000 a summer working for the oil co., paid all my expenses, and graduated with $2,000 cash in the bank. Why has college tuition gone up so much? Have states removed support money and put it directly on the students? That's bad. I'd rather see us spend on college, and help educate everyone that wants to go. That oil co. paid me $3.30 per hour, which was great at the time (min wage was $1.25). My kid in college earns $7-8 per hour now, car porter at a car dealership is one job.
If by that you mean, being self reliant instead of lazy and waiting for people to do things for you, then yes he is the exception. I paid for college by working, and scholarships, and that was pre-TOPS. My parents had plenty of $ and never gave me a penny. Not for anything after I was 18. I took one loan out during that time and it was a 90 day signature loan, not a student loan. I worked for every $ I spent on my education(including my last year in high school at Jesuit), and therefor appreciated it and flourished. Many adults/kids today have no concept of $ or the cost of life and you see it reflected in a country that is horribly over leveraged. Reduce the cost of college? Ok, Red, how about you give back your salary and convince 50% of your faculty members to do the same? That should make a dent. But that is a ridiculous notion you say? I agree, and further assert that people learn to earn what they don't have, and stop expecting someone to give it to them. A college education is a privilege, not a right.
ive got an idea. lets get rid of the fed minimum wage. better yet, lets put a cap on everyone's wages. that way the companies can hire everyone. there will be no unemployment and all the companies will stay in the US and be rolling in the dough.
