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tsiguy96
04-16-2012, 03:13 PM
Just added up what i will be expected to pay back for student loans..its not pretty! Anyone here have absurdly high private and federal loans and any tips on making it reasonable to pay back?

SouthStndJunkie
04-16-2012, 03:18 PM
Welcome to the club.

JLesSPE
04-16-2012, 03:32 PM
If you figure it out please let me know. The best I could do was consolidate them. Of course you'll have to go federal and private separate, but it did drop my payments a little. I paid off a few of the smaller private loans before I consolidated those because the interest rate is so much higher on private loans.

Conklin
04-16-2012, 03:34 PM
between my student loans and my wifes (currently in a private med school) I'd have to pay 10,000 a month and still wouldnt pay them off in less than 5 years

JLesSPE
04-16-2012, 03:35 PM
between my student loans and my wifes (currently in a private med school) I'd have to pay 10,000 a month and still wouldnt pay them off in less than 5 years

Wow, that's a lot of scratch

Conklin
04-16-2012, 03:43 PM
school aint cheap

lolcopter
04-16-2012, 04:48 PM
state school ftw

undergrad degrees are mostly bull**** anyway (unless you're planning on becoming an engineer/doctor/accountant/etc.). save the dollars for grad school

Requiem
04-16-2012, 04:49 PM
Just added up what i will be expected to pay back for student loans..its not pretty! Anyone here have absurdly high private and federal loans and any tips on making it reasonable to pay back?

Hey TSI,

Good luck on getting help with this. I actually added up all my debt the other day (school and cc) and was pondering the exact same thing. My situation is a little different than yours, but I'll talk about it and hopefully it can help you out.

I have two outstanding school loans. One is my Perkins Loan which I pay directly to my university monthly. It is my lowest amount and the interest is pretty much the same as my second loan owed. I pay the Feds directly for my Stafford loans, which is my second group of consolidated loans and makes up a majority of my money owed.

My advice to you if you received multiple loans from the government is to try and consolidate them. That's what I did. They actually have an interactive website (or at least did for me when I took exit loan counseling) that helps detail the payment you would make a month and estimate how long it would take for you to pay it off at that rate.

I know you have the option of also paying back your loans (with the government) based on your income-rate. (Say, you have a really high amount, but you only found a job full-time starting out that pays X -- so based on your income and other economic issues, they can adjust that for you.) If you have Federal loans, contact the right people (Federal Loan Servicing) and they can really help you out. They always have done right for me.

Perhaps you could consolidate your private loans too, but I know nothing about that. Someone on here will know. Shoot Garcia Bronco a PM.

My Personal Situation

For me, I'm paying off my smallest amount loan because it can easily be done within a year. That is one of my goals -- to have my Perkins Loan payed off in a years time when I get employed again. (Just ended seasonal work last week.) Just paying off that couple thousand ensures I don't have to pay them anything again.

To pay off what I owe to them within a year, I am doing triple the minimum payments. It might seem like it is hard to do, but I know people who waste $100 at a bar in a night or go out to eat three times a week and spend that much. It's sacrifices and smart decisions in your personal life that will definitely help you in paying off your school debts.

At the same time, I'm paying off my lowest credit card with the smallest amount due, but largest interest rate as well. I feel that is more of a priority than paying down the larger amount of my college debt, because that is an large amount that will take a much bigger paygrade than I have been accustomed to if I want to get it done timely. I think I'm on a "ten year projected plan" and it still adds a retarded amount of interest over it. Though, I'm thankful for a pretty low interest rate. However, I'm not really in a rush to pay off my bigger amount. I'm applying for graduate enrollment for 2013 at schools and know that amount is likely to go up, unless I can get a GA. I'd be a good challenge for that at my alma matter, but elsewhere might be extremely competitive. I just have to go for the right program.

I want to eliminate my two smallest debts out of my four and then go from there. I don't see having what I owe in college debt (Less than 30,000 total if you were wondering) as a burden on my shoulders. I'm just making the payments.

If you want to discuss stuff more in private, ask me. My theory right now is paying down my lowest debts and then going for the bigger stuff. I can chip away several thousand dollars and eliminate that a lot easier than stressing over a mound of dough over 20k. Getting the low debts solved will allow for more resources to be tossed at the other.

Good luck dude. :wave:

Mogulseeker
04-16-2012, 04:53 PM
I have $9,000 in supplemental loans to the University of Denver after a BSBA and an MBA after academic scholarships.

Significantly below the average. I'm a lucky one.

Garcia Bronco
04-16-2012, 05:06 PM
Pay up :D

cutthemdown
04-16-2012, 05:09 PM
single payer education cmon!

tsiguy96
04-16-2012, 06:01 PM
state school ftw

undergrad degrees are mostly bull**** anyway (unless you're planning on becoming an engineer/doctor/accountant/etc.). save the dollars for grad school

already got my masters degree, didnt pay much for that but its the private loans from my undergrad that are killing me. no one consolidates them, i have a stupid high amount of interest already accumulating...sucks. i guess i dont see how retirement will ever become an option for me or people like me if we literally will never be out of debt from these loans.

Chris
04-16-2012, 06:04 PM
already got my masters degree, didnt pay much for that but its the private loans from my undergrad that are killing me. no one consolidates them, i have a stupid high amount of interest already accumulating...sucks. i guess i dont see how retirement will ever become an option for me or people like me if we literally will never be out of debt from these loans.

I got into school for the fall. This is exactly why I'm nervous about attending.

Requiem
04-16-2012, 06:18 PM
I got into school for the fall. This is exactly why I'm nervous about attending.

Undergrad or grad? Either way, most Universities have a lot of student work programs. Research this and your first week on campus, go and try to get an on-campus job. You can live, play and study at the same time and it's super convenient. Some actually pay pretty decently, I think. There are also a lot of programs and opportunities where the school will pay your tuition, give you a stipend for room and board if you are involved. Other jobs will give you a solid hourly wage.

You don't have to be work-study eligible for all of them either. I was an RA for two years and that easily saved me over ten grand while I was at school. I also worked for two academic departments and another center on campus while I was there too. The opportunities are definitely available to help negate costs or compensate while in school.

Working where I went to school made things easy. It also helped with keeping good grades. All I had to do was keep my schedule (classes) flexible with my work. My last two years I took almost all late afternoon or evening classes and worked ~32 hours in a week as well.

If you have drive and passion, you'll succeed in school. Get involved and be apart of something special. The experience and connections are going to mean more than the piece of paper that says, "Dude you just earned a ____ in ______________! Now give us some cash!"

rugbythug
04-16-2012, 06:28 PM
I paid my loans back ~6 years ago. The bank had the following incentives.
1. Get a degree -.25%
2. Sign up for Auto Bill Pay. -1%
3. Pay on time for 6 months -.25%

Once I had done all 3 I cut my interest rate to 1.75% or some ridiculous number. I then waited to pay those off until last of all my debt. The interest is tax deductible and low pay it off last.

Rascal
04-16-2012, 07:00 PM
I consodilated all mine/wife's 6 years ago (masters for both included). Paying 3% interest, which I thought was low at the time (LOL) and I still have 15+ years left. Sweet.

Dukes
04-16-2012, 07:43 PM
I got paid to go to school. Suckers.

Chris
04-16-2012, 08:20 PM
Undergrad or grad? Either way, most Universities have a lot of student work programs. Research this and your first week on campus, go and try to get an on-campus job. You can live, play and study at the same time and it's super convenient. Some actually pay pretty decently, I think. There are also a lot of programs and opportunities where the school will pay your tuition, give you a stipend for room and board if you are involved. Other jobs will give you a solid hourly wage.

You don't have to be work-study eligible for all of them either. I was an RA for two years and that easily saved me over ten grand while I was at school. I also worked for two academic departments and another center on campus while I was there too. The opportunities are definitely available to help negate costs or compensate while in school.

Working where I went to school made things easy. It also helped with keeping good grades. All I had to do was keep my schedule (classes) flexible with my work. My last two years I took almost all late afternoon or evening classes and worked ~32 hours in a week as well.

If you have drive and passion, you'll succeed in school. Get involved and be apart of something special. The experience and connections are going to mean more than the piece of paper that says, "Dude you just earned a ____ in ______________! Now give us some cash!"

Like a lot of people in the video game industry, I never did undergrad. This is undergrad and I'm 27. It's also one of the top program in the country for the particular field but I'm thinking with the same amount of money I could start a company. The plus to this school is it's practical, it's not just liberal arts. I turned down an Ivy because it was entirely non-practical. I don't need to learn how to think at this point.

Were I able to qualify for a grad degree I'd be looking at the rare MBA MFA dual degree (my brother is about to complete one). We're both creatives that want to be able to make a living. Unfortunately I don't qualify so I'm somewhat stuck.

Jay3
04-16-2012, 08:24 PM
Student loans are such a bogus vicious circle. By making endless dollars available for a signature, the universities and colleges bloated up their inefficiency to scarf up maximum dollars. It's a situation parallel to the housing bubble.

I think we ought to really focus our public policy on making good college education for as low a price as possible. It's unconscionable all the people who live under suffering debt.

JLesSPE
04-16-2012, 08:53 PM
already got my masters degree, didnt pay much for that but its the private loans from my undergrad that are killing me. no one consolidates them, i have a stupid high amount of interest already accumulating...sucks. i guess i dont see how retirement will ever become an option for me or people like me if we literally will never be out of debt from these loans.

There are a few places that consolidate private student loans. I know Chase and Wells Fargo do. I just got a ~7% fixed rate on a private consolidation loan. Not great but its better than a few of them I had that defaulted to a variable rate.

Broncoman13
04-16-2012, 09:29 PM
I wish you all would have listened to me and went to work for Uncle Sam. Plenty of education, learned a trade that now pays me in the upper quarter of the nation, and all I have now is about $3000 in credit card debt that I could pay off in a few months if I wasn't so busy with other projects and funding them. Military... Air Force or Navy in particular!

Btw, not trying to gloat. Rather, hoping that somebody that is going to make a decision soon sees this and gives it some real thought. Did I mention your schooling is paid for while you are in and the GI Bill pays the rest... If you even need it after you finish your military commitment.

SoCalBronco
04-16-2012, 10:44 PM
Consolidate the private loans and then pay them off at as much of an accelerated rate as you can. Otherwise, the interest will kill you. The government loan will probably not have a very high interest rate right now, so that's not a big deal. The private is loan is where you may get hurt on interest. I consolidated my private law school loans and paid an absurdly high amount the last couple years. It was around 250.00 per month normally and for a couple years I was paying 500.00, which still wasn't enough because it was basically like the normal payment plus interest as it accrued and a little more of the principal. I decided to kick it into high gear and start paying 1900.00 per month (you read that right) and I've done that for a little more than 2 years. That drastically reduced my disposable income, but now, as of February, I have now paid off the private loan entirely, about 5 years early. That's a ton of interest saved. I still paid over $ 13,000.00 in interest in the private loan alone, but without doing this extreme measure it would have been at least double that and maybe more if I just went with double the payment. You have to pay as much more than the minimum payment as you reasonably can with your budget after consolidating it into a single loan.

I wouldn't worry about the public loan too much. I'm still working on that and I still have almost $ 70,000.00 to go, however the interest rate is below 2 percent because the monthly interest is just a hair over $ 100.00. You can afford to pay that off over 20-30 years. You'll also notice the government subsidized loans usually give you brownie points for proper payments (I got a 1% reduction in interest if I made timely payments for the first 36 months).

strafen
04-16-2012, 10:55 PM
Just added up what i will be expected to pay back for student loans..its not pretty! Anyone here have absurdly high private and federal loans and any tips on making it reasonable to pay back?

Follow socalbronco's advice.
Save your billing statements.
The good news is you get a tax break on the interest paid when you file your taxes.

Meck77
04-16-2012, 11:11 PM
Correct me if I'm wrong but aren't some student loans paid directly to the borrower? If so why not invest some of that money and hedge some of that debt? Gold, silver, bonds, foreclosures.....

14 year old girl buys foreclosure with money earned from craigslist.

http://news.yahoo.com/florida-14-old-buys-distressed-home-174503183--abc-news.html

I know. Everyone said go to college get a job. It's ok to rack up 100k in debt. Really? Maybe that was the case when there were jobs.

Think outside the box!

NUB
04-17-2012, 12:21 AM
Student loans are such a bogus vicious circle. By making endless dollars available for a signature, the universities and colleges bloated up their inefficiency to scarf up maximum dollars. It's a situation parallel to the housing bubble.

I think we ought to really focus our public policy on making good college education for as low a price as possible. It's unconscionable all the people who live under suffering debt.

Oh, it's a bubble. The previous administration made the loan system very difficult for students. Loaners and the schools are making guaranteed money hand over fist practically for free with the current system. It will pop sooner or later. Ain't no such thing as social awareness in this country. Just bury everyone while you get your fill and then bail on the smoldering ruins left behind. Same old same old.

That One Guy
04-17-2012, 06:32 AM
Last I knew, the military was offering $50k student loan forgiveness for 4 years' work. If you have your degrees, the possibility would be there to just go as an officer and then you're making $50K+ and life's not too bad.

$50K a year and your loans mostly paid off over 5 years or so would be much easier than struggling with it for some time, it seems.

Drek
04-17-2012, 07:05 AM
Just added up what i will be expected to pay back for student loans..its not pretty! Anyone here have absurdly high private and federal loans and any tips on making it reasonable to pay back?

You can get the federal loans consolidated and then set them up under income based repayment to have a reasonable payment you make over 20 years, at the end of which they're forgiven as long as you don't miss your payments.

As for the private loans, well, why the hell did you ever take out private educational loans in the first place? Talk about a ********** trap. The best answer for those, assuming you're still in school, is to take out the maximum amount of federal (subsidized and unsubsidized) loans you can get per year and use them to pay down your private loans as quickly as possible. Its only shuffling the debt from one creditor to another, but you're going to a creditor who will work with you versus one who would like nothing more than to hit you with massive penalties that keep you under their thumb the rest of your life.

If you're out of school then you simply need to prioritize income generation and repayment of your bad debt. Life is a risk v. reward scenario. I got my degree in geology with the plan of going into the higher risk parts of the oil industry (read: installing wells in contested regions) because it pays exceptionally well and you have no overhead. I ended up getting out of school with very little debt so I chose a more enjoyable path, but options to generate significantly more income are out there for almost anyone if you're willing to take on additional risk or discomfort to speed your way to financial independence.

alkemical
04-17-2012, 07:08 AM
I'd say fake your death, but then your degree won't do you any good.

OrangeSe7en
04-17-2012, 08:53 AM
I paid my loans back ~6 years ago. The bank had the following incentives.
1. Get a degree -.25%
2. Sign up for Auto Bill Pay. -1%
3. Pay on time for 6 months -.25%

Once I had done all 3 I cut my interest rate to 1.75% or some ridiculous number. I then waited to pay those off until last of all my debt. The interest is tax deductible and low pay it off last.

It's often the case that it's not all tax deductible. There's a computation that you have to do. Also, if one is accustomed to filling out the EZ, it's not. It's on the long form.

OrangeSe7en
04-17-2012, 08:58 AM
Consolidate the private loans and then pay them off at as much of an accelerated rate as you can. Otherwise, the interest will kill you. The government loan will probably not have a very high interest rate right now, so that's not a big deal. The private is loan is where you may get hurt on interest. I consolidated my private law school loans and paid an absurdly high amount the last couple years. It was around 250.00 per month normally and for a couple years I was paying 500.00, which still wasn't enough because it was basically like the normal payment plus interest as it accrued and a little more of the principal. I decided to kick it into high gear and start paying 1900.00 per month (you read that right) and I've done that for a little more than 2 years. That drastically reduced my disposable income, but now, as of February, I have now paid off the private loan entirely, about 5 years early. That's a ton of interest saved. I still paid over $ 13,000.00 in interest in the private loan alone, but without doing this extreme measure it would have been at least double that and maybe more if I just went with double the payment. You have to pay as much more than the minimum payment as you reasonably can with your budget after consolidating it into a single loan.

I wouldn't worry about the public loan too much. I'm still working on that and I still have almost $ 70,000.00 to go, however the interest rate is below 2 percent because the monthly interest is just a hair over $ 100.00. You can afford to pay that off over 20-30 years. You'll also notice the government subsidized loans usually give you brownie points for proper payments (I got a 1% reduction in interest if I made timely payments for the first 36 months).

There are different schools of thought on how to pay off loans, especially when the gvt loan balance is a lot lower. Accumulating interest is an issue, as you mentioned, but there's also a school of thought that if you pay off the lower balance as soon as possible, you can clear the runway and then take the money you were previously paying on the gvt loan and start paying down the private loan.

You can do a computation to see which allows you to pay it off faster but many feel there is a psychological benefit to paying off the lower balance first. It makes you feel like you're making progress and accomplishing something.

Garcia Bronco
04-17-2012, 09:08 AM
single payer education cmon!

It's what we have now. Private institutions are no longer allowed to loan money for education. Every dollar comes from the Federal Government on new loans. The Feds contract out servicing the loan, but those contractors are not lenders.

Beantown Bronco
04-17-2012, 10:32 AM
Suck it up and live with your parents for a year or two after school, if they'll have you.

tsiguy96
04-17-2012, 09:23 PM
for those saying consolidate private loans, no one is really doing that anymore. chase and citibank stopped, wellsfargo still does but the best they offer you is a .25%-.75% decrease in interest IF you already have wellsfargo standing.

we took out private loans because i couldnt get enough funding to pay for everything under federal loans. for those entering school now, GET A DAMN JOB IN COLLEGE AND PAY YOUR BILLS THAT WAY. one major mistake i made is i went to an out of state college for 1 semester which is roughly 1/5 of my total debt.

tsiguy96
04-17-2012, 09:25 PM
Consolidate the private loans and then pay them off at as much of an accelerated rate as you can. Otherwise, the interest will kill you. The government loan will probably not have a very high interest rate right now, so that's not a big deal. The private is loan is where you may get hurt on interest. I consolidated my private law school loans and paid an absurdly high amount the last couple years. It was around 250.00 per month normally and for a couple years I was paying 500.00, which still wasn't enough because it was basically like the normal payment plus interest as it accrued and a little more of the principal. I decided to kick it into high gear and start paying 1900.00 per month (you read that right) and I've done that for a little more than 2 years. That drastically reduced my disposable income, but now, as of February, I have now paid off the private loan entirely, about 5 years early. That's a ton of interest saved. I still paid over $ 13,000.00 in interest in the private loan alone, but without doing this extreme measure it would have been at least double that and maybe more if I just went with double the payment. You have to pay as much more than the minimum payment as you reasonably can with your budget after consolidating it into a single loan.

I wouldn't worry about the public loan too much. I'm still working on that and I still have almost $ 70,000.00 to go, however the interest rate is below 2 percent because the monthly interest is just a hair over $ 100.00. You can afford to pay that off over 20-30 years. You'll also notice the government subsidized loans usually give you brownie points for proper payments (I got a 1% reduction in interest if I made timely payments for the first 36 months).

definitely respect what you were able to do and get your bills paid so fast. in my situation, with a masters degree most jobs are going to start between 30-36k a year, and even that will be awesome if i can get that on the high end. i will have to get a 2nd job for awhile doing something.

baja
04-17-2012, 10:20 PM
When I went to the University of Texas I paid $280 a semester for 18 credit hours and received $260 a month from my GI bill. I actually made money going to school.

You guys are being raped.

sgbfan
04-18-2012, 01:24 AM
for those saying consolidate private loans, no one is really doing that anymore. chase and citibank stopped, wellsfargo still does but the best they offer you is a .25%-.75% decrease in interest IF you already have wellsfargo standing.

we took out private loans because i couldnt get enough funding to pay for everything under federal loans. for those entering school now, GET A DAMN JOB IN COLLEGE AND PAY YOUR BILLS THAT WAY. one major mistake i made is i went to an out of state college for 1 semester which is roughly 1/5 of my total debt.

Exactly. Go to a cheap junior college as much as you can. Smaller classes and you learn just as much in most cases. 99 % of places don't care where your degree came from, and if you finish at a University, thats all they'll see anywhere is where your degree came from.

Archer81
04-18-2012, 01:28 AM
At the moment I have $3500 in student loans. Not too bad. Most of college to this point has been paid by Pell grants. I expect that to change. But I am going for an english or journalism major. If I stayed with anthropology I'd be 42 by the time I got my doctorate.

F that.

:Broncos:

txtebow
04-18-2012, 07:33 AM
the interest on student loans is only deductible if you make less than a certain dollar amount.

Garcia Bronco
04-18-2012, 07:39 AM
At the moment I have $3500 in student loans. Not too bad. Most of college to this point has been paid by Pell grants. I expect that to change. But I am going for an english or journalism major. If I stayed with anthropology I'd be 42 by the time I got my doctorate.

F that.

:Broncos:

Get a degree that has ROI. English and journalism won't do that for you.

delany
04-18-2012, 07:40 AM
I guess modding a 96 Talon wasn't the best thing to do with that 'free' student loan money afterall.

Drek
04-18-2012, 07:55 AM
At the moment I have $3500 in student loans. Not too bad. Most of college to this point has been paid by Pell grants. I expect that to change. But I am going for an english or journalism major. If I stayed with anthropology I'd be 42 by the time I got my doctorate.

F that.

:Broncos:

The hell you going to do with an English or journalism degree?

Think about how many major news papers have been shuttered in the last year. How many B.A.s, M.A.s and even PhDs with DECADES of experience have now been displaced? It is a contracting field over saturated with talent. Its probably going to stay that way for at least another decade or two.

If you like to write then take the classes as your electives and do it on your free time. Otherwise you're stepping into one hell of a ****ty situation when you graduate with a bunch of debt.

Now if you go English and add a teaching cert. to that you might have some good options, assuming the economy rebounds and education benefits from greater funding (highly likely I'd say). But betting on finding a career path as a journalist or editor is a good way to find yourself either A. unemployed B. working at Starbucks or C. (ideal scenario here) working as a copy editor for a major publisher making a mediocre hourly wage with zero chance for upward mobility from the cubical farm you spend your days proofing subcontracted text in.

55CrushEm
04-18-2012, 07:58 AM
Suck it up and live with your parents for a year or two after school, if they'll have you.

This. I was never able to do it. But I have friends who did, and they socked away some serious money.

My first job out of college, I made $29,000/year. Rent ate up $600/month

TonyR
04-18-2012, 08:00 AM
Get a degree that has ROI. English and journalism won't do that for you.

Sad but true. I wanted to be a journalism major but my father knocked some sense into me and basically said he wouldn't pay for my college if I went that route. The reality today is that you either get a professional degree or don't bother. You can't get a decent job with a liberal arts degree today like you could in the past.

Slightly Soiled
04-18-2012, 08:11 AM
Get a degree that has ROI. English and journalism won't do that for you.

Best advice ever!!!!

I have a son that is going to be an engineer we had a talk and I told him he was going to have to borrow more on his loans to get his degree because I also have a daughter starting this fall going to be a music teacher. I figured we as parents will need to pay for all of her school now as to make sure she doesn't have any loans to pay back on a teachers salary and I will help him pay back some of his loans after she gets done with school. BTW I was 19 when my son was born and struggled just to put food on the table so no money was saved for school.

Higher education needs to be reformed because there is no way 300 freshmen in english class being taught by a grad student working for free should pay what a n engeneering student in atmospheric thermodynamics with 15 students pays.

Requiem
04-18-2012, 08:51 AM
At the moment I have $3500 in student loans. Not too bad. Most of college to this point has been paid by Pell grants. I expect that to change. But I am going for an english or journalism major. If I stayed with anthropology I'd be 42 by the time I got my doctorate.

F that.

:Broncos:

You should follow your bliss and do what you will, but I would second or third others and suggest switching with those because you'll have a harder time getting sound employment than what your previous path was on. I did my double major in Political Science and Anthropology (I thought you were on a similar route) and my first job out of school (had I worked there a full year) would have put me in that 35k range, but that isn't including full benefits in health, vision and dental which I believe to be worthy of another couple grand yearly. It was basically doing legal, business and research solutions. At the end of my time I was also in charge of coordinating graphics design for a law firm based out of Seattle, a skill that I had outside of the classroom.

Are you involved in any writing programs at school? Do you work as an editor for anything? School paper? Secretary for Student Government or anything? If you go for a major like that, you need to be in an area where you are gaining applicable experience moving forward. My friend didn't have that, and ended up shelling out more money to go and get a Master's so he could at least teach community college intro courses, etc.

I'm not one to ever knock what someone wants to study, but getting a ROI is extremely important. I kinda slapped that in the face when I moved to Colorado and switched fields and did something different completely, but the experience is worth it to me. I have no doubts that I can get something similar or better to what I had previously. In fact I know I will, because frankly unless I get desperate, I won't settle for anything else.

Long story short, a degree is awesome, but if you do nothing in college but go to school, it isn't going to matter. Everyone I know who is out of college right now making a liveable wage or moving on in their life was involved in student activities and programs. They met people, made connections and were able to succeed because of that AND their diligence in the classroom.

It's more than just a degree. Good luck to you. :wave:

Requiem
04-18-2012, 08:55 AM
Higher education needs to be reformed because there is no way 300 freshmen in english class being taught by a grad student working for free should pay what a n engeneering student in atmospheric thermodynamics with 15 students pays.

At some point in time, your son as an engineering student will be in large classrooms like that. He probably already has.

What are you suggesting? Some majors pay more than others? Well, they already do. Your son as a Thermodynamics major is probably paying for laboratory fees and equipment use that add to his cost that someone studying British Literature wouldn't.

At any large university, general courses are going to have a lot of people.

Introductory English, Communication, Math and Science classes -- since they are generals required by institutions are usually taught in large auditoriums and lecture halls. Thermodynamics is a class that people are taking as juniors and seniors and are already settled into their degree plan. The same thing goes for English/Comm any other major when they start getting to their advanced classes.

And those graduate assistants teaching those classes are not working "for free."

55CrushEm
04-18-2012, 09:02 AM
Get an engineering degree.....followed up with an MBA.

$$$$

MplsBronco
04-18-2012, 09:11 AM
Learn a trade. Seems like this is frowned upon a lot and I kind of wish I had gone that route. Plus it seems you can eventually branch out and start your own business a little easier. Instead I am stuck in the corporate world with my degree wondering what's next.

Navy Broncos Fan
04-18-2012, 09:14 AM
Probably not what you want to do but you could join the military for 4-6 under the College Loan Repayment Program. I have had a couple sailors who worked for me come in under the program.

Me I didn't want to deal with the years of debt and job hunting so I joined. Uncle Sam pays for 100% of my 5 classes a year. Plus I have the G.I Bill still to pass off to my kids.

Garcia Bronco
04-18-2012, 09:16 AM
Learn a trade. Seems like this is frowned upon a lot and I kind of wish I had gone that route. Plus it seems you can eventually branch out and start your own business a little easier. Instead I am stuck in the corporate world with my degree wondering what's next.

It's what the Germans do...they probably have the most sound method of sorting kids into proper professions,

lolcopter
04-18-2012, 09:32 AM
As a journalism major, I'm gonna go ahead and jump on the "liberal arts undergrad degrees are worthless" bandwagon

If I could do it all again I would probably go engineering, but I was young and dumb and open option until my junior year

That being said, my student loans are very manageable and I have like a 3% interest rate so I'm in no hurry to pay them off

Beantown Bronco
04-18-2012, 09:45 AM
As a journalism major, I'm gonna go ahead and jump on the "liberal arts undergrad degrees are worthless" bandwagon


I disagree. There's a TON of work that pays and pays well for liberal arts majors. One of my jobs is the hiring and training of incoming paralegals and every firm I've worked for or spoken with hires liberal arts majors straight out of school to become paralegals. And they pay well (start around $30K and can move up quickly to $100K + OT and bonuses within 7-10 years). Most of our clients range from mid size private companies to large fortune 500 public companies and they do the same with their in house legal departments. I'd have no problem steering my kids that way if that's what they wanted to do. No huge law school loans, no stress of signing your life away to make partner and no stress of having to find clients. It's not a bad gig at all. And it's a growing field.

Drek
04-18-2012, 10:14 AM
Best advice ever!!!!

I have a son that is going to be an engineer we had a talk and I told him he was going to have to borrow more on his loans to get his degree because I also have a daughter starting this fall going to be a music teacher. I figured we as parents will need to pay for all of her school now as to make sure she doesn't have any loans to pay back on a teachers salary and I will help him pay back some of his loans after she gets done with school. BTW I was 19 when my son was born and struggled just to put food on the table so no money was saved for school.

Higher education needs to be reformed because there is no way 300 freshmen in english class being taught by a grad student working for free should pay what a n engeneering student in atmospheric thermodynamics with 15 students pays.

1. Your daughter should be looking into teacher specific loans if she does want to teach after undergrad. Most teach specific loans offer full forgiveness after you've taught for a few years. Also, a teacher who pursues post-graduate degrees (M.A.s and PhDs) can make VERY good money depending on what state/county she works in.

2. Your son is going to have that 300 student class in intro engineering physics, probably Calc I-II if not even Calc III (if its a big engineering school), and most of his intro engineering courses. You need to take special topic classes (like atmotherm) or get to the second tier (post sophomore year level) course work. The big lecture hall classes are "pay the bills" material for schools where they shove a ton of trivia down student's throats as a "do you actually care to be here?" test. Culling the wheat from the chaff. Almost every department at every university turns into 15-20 student classes (or smaller) once you get to the junior and senior level.


You should follow your bliss and do what you will, but I would second or third others and suggest switching with those because you'll have a harder time getting sound employment than what your previous path was on. I did my double major in Political Science and Anthropology (I thought you were on a similar route) and my first job out of school (had I worked there a full year) would have put me in that 35k range, but that isn't including full benefits in health, vision and dental which I believe to be worthy of another couple grand yearly. It was basically doing legal, business and research solutions. At the end of my time I was also in charge of coordinating graphics design for a law firm based out of Seattle, a skill that I had outside of the classroom.

Did your PoliSci/Anthro degree actually get you a job, or did just having a B.A. get you a job? That is the big problem here. You CAN get a job with a lib. arts degree but chances are it isn't a job that demands your specific specialty, just a bachelors period. So you're competing with a massive pool and depending on region that can be VERY hard.

I disagree. There's a TON of work that pays and pays well for liberal arts majors. One of my jobs is the hiring and training of incoming paralegals and every firm I've worked for or spoken with hires liberal arts majors straight out of school to become paralegals. And they pay well (start around $30K and can move up quickly to $100K + OT and bonuses within 7-10 years). Most of our clients range from mid size private companies to large fortune 500 public companies and they do the same with their in house legal departments. I'd have no problem steering my kids that way if that's what they wanted to do. No huge law school loans, no stress of signing your life away to make partner and no stress of having to find clients. It's not a bad gig at all. And it's a growing field.
Try that same mindset in the Midwest of this country though. Most paralegals need real experience or pre-law coursework in those regions because the market isn't as hungry for people as the coasts are.

I've got no problem with liberal arts. My wife has her M.A. in a lib. arts field (Anthropology/Archaeology). But she dropped out of her PhD program the minute a real lab position for the Army Corps of Engineers opened up because she realized that even with a PhD she'd be LUCKY to get the job she has now, so why pass it up and wait a few more years to get it?

I have a B.S. in geology/earth sciences, which basically amounts to a combo of environmental and structural engineer skills. Pretty limited graduation rates and a rapidly growing field. But you know what actually got my foot in the door? I was a licensed asbestos abatement supervisor for the last two years of undergrad. 3.8 GPA in my major didn't matter at all. A diverse background in my field plus exceptional computer skills after spending two years as a comp. sci. major? Nice but only paid off after I got hired. It was the summers I spent pulling 'stos that got me my job.

You can do a lot of **** at a Uni. that doesn't sell you nearly as well as having real work experience in ANY field. Now imagine how that plays out in fields that aren't hard sciences. What you can do is more important than what your degree says in those fields. How many best selling authors had their four year degrees before their first big publication? How many artists make it big thanks to their art school diplomas? How many actors and directors ever even attend film school until well into successful careers? The liberal arts fields tend to be dominated by talent > accreditation sub fields. You aren't assured a damn thing in them if you aren't very talented yourself and even then that "talent" is in the eye of the beholder.

A safer bet would be getting a degree in media design, some kind of media production, accounting, business management, human resources, etc. and working on the technical/management side while focusing your free time on breaking into the creative side. Then if you ever do break through you'll be a more well rounded individual to boot.

Beantown Bronco
04-18-2012, 10:24 AM
1. Try that same mindset in the Midwest of this country though. Most paralegals need real experience or pre-law coursework in those regions because the market isn't as hungry for people as the coasts are.

I'm not so sure about that. Maybe in the sticks, but not in the average city in the midwest. Many large firms are either headquartered in Chicago (like mine) or have a large presence there.

And, really, it's like George Carlin said about food. None where you are? Move to where it is.

TonyR
04-18-2012, 10:30 AM
I disagree. There's a TON of work that pays and pays well for liberal arts majors...

I think there's a supply/demand problem though. Far too many liberal arts grads but not nearly enough jobs for all of them. The job market it terrible for recent grads and those with a plan and a degree which matches up will with specific jobs (particularly that have demand) are going to fare much, much better.

alkemical
04-18-2012, 10:38 AM
1. Your daughter should be looking into teacher specific loans if she does want to teach after undergrad. Most teach specific loans offer full forgiveness after you've taught for a few years. Also, a teacher who pursues post-graduate degrees (M.A.s and PhDs) can make VERY good money depending on what state/county she works in.

2. Your son is going to have that 300 student class in intro engineering physics, probably Calc I-II if not even Calc III (if its a big engineering school), and most of his intro engineering courses. You need to take special topic classes (like atmotherm) or get to the second tier (post sophomore year level) course work. The big lecture hall classes are "pay the bills" material for schools where they shove a ton of trivia down student's throats as a "do you actually care to be here?" test. Culling the wheat from the chaff. Almost every department at every university turns into 15-20 student classes (or smaller) once you get to the junior and senior level.




Did your PoliSci/Anthro degree actually get you a job, or did just having a B.A. get you a job? That is the big problem here. You CAN get a job with a lib. arts degree but chances are it isn't a job that demands your specific specialty, just a bachelors period. So you're competing with a massive pool and depending on region that can be VERY hard.


Try that same mindset in the Midwest of this country though. Most paralegals need real experience or pre-law coursework in those regions because the market isn't as hungry for people as the coasts are.

I've got no problem with liberal arts. My wife has her M.A. in a lib. arts field (Anthropology/Archaeology). But she dropped out of her PhD program the minute a real lab position for the Army Corps of Engineers opened up because she realized that even with a PhD she'd be LUCKY to get the job she has now, so why pass it up and wait a few more years to get it?

I have a B.S. in geology/earth sciences, which basically amounts to a combo of environmental and structural engineer skills. Pretty limited graduation rates and a rapidly growing field. But you know what actually got my foot in the door? I was a licensed asbestos abatement supervisor for the last two years of undergrad. 3.8 GPA in my major didn't matter at all. A diverse background in my field plus exceptional computer skills after spending two years as a comp. sci. major? Nice but only paid off after I got hired. It was the summers I spent pulling 'stos that got me my job.

You can do a lot of **** at a Uni. that doesn't sell you nearly as well as having real work experience in ANY field. Now imagine how that plays out in fields that aren't hard sciences. What you can do is more important than what your degree says in those fields. How many best selling authors had their four year degrees before their first big publication? How many artists make it big thanks to their art school diplomas? How many actors and directors ever even attend film school until well into successful careers? The liberal arts fields tend to be dominated by talent > accreditation sub fields. You aren't assured a damn thing in them if you aren't very talented yourself and even then that "talent" is in the eye of the beholder.

A safer bet would be getting a degree in media design, some kind of media production, accounting, business management, human resources, etc. and working on the technical/management side while focusing your free time on breaking into the creative side. Then if you ever do break through you'll be a more well rounded individual to boot.


There's some good advice here.

I'd also recommend taking a few biz courses, or do some PT work in a sales environment. I spent over 10 years in IT - i did a year of sales and it made a WORLD of difference. So even if you work some "job" - find out about more about what they do - how/why they do things they way they do. Learn to LOOK for opportunities...and most importantly:

Learn how to learn.

I started out as IT prof. now i'm going to be moving into AG. More of a sales/marketing position - BUT - having worked for large distribution, fortune 1000 companies, and sales - I basically was able to create a position for myself.

"Do what you love & be practical" - are important lessons. I agree with your sentiments here. Also, be open to new opportunities. You never know where you might end up. (for better or worse)

Drek
04-18-2012, 10:59 AM
I'm not so sure about that. Maybe in the sticks, but not in the average city in the midwest. Many large firms are either headquartered in Chicago (like mine) or have a large presence there.

And, really, it's like George Carlin said about food. None where you are? Move to where it is.

Chicago is not the Midwest man.

Also, I'm a big fan of being willing to relocate and see all the world has to offer, done it multiple times myself, but if you really think that is the solution for everyone you're sorely mistaken. A very large portion of this country would endure a pretty serious culture shock moving from the northeast to the Midwest or even west coast, and vice versa. I don't know how many people I know who have moved one way or the other and end up looking for a way back to where they're from. No family near you plus a big culture shift like you find going across this country isn't an easy hurdle for most, advice acting like it is doesn't really have much relevance to it.

Requiem
04-18-2012, 10:59 AM
Did your PoliSci/Anthro degree actually get you a job, or did just having a B.A. get you a job? That is the big problem here. You CAN get a job with a lib. arts degree but chances are it isn't a job that demands your specific specialty, just a bachelors period. So you're competing with a massive pool and depending on region that can be VERY hard.

Ah, probably a bit of both. I was just a really good candidate.

My emphasis was in Political Science was International Relations and Law. For Anthropology, it was globalization and ethnic conflicts (Was on the biomedical route and hoped to do Egyptology, but my adviser who was in charge of my private studies on that left the Uni so I was SOL.)


What I didn't wasn't exactly related what I went to school for, but my law classes and a lot of other training I had made things easy for me. My interview process was pretty easy (for me), and they asked about certain things I may or may have not learned and what I brought to the table/how it related. Most of the focus was on legal stuff. I already came in understanding certain legal terminology and processes that were essential to my position. When it came down to it: It was probably a combination of both, and we worked globally for clients so it was easy for me to cross-culturally communicate with others form overseas, when a lot of people in our place had a hard time doing that.

All and all, I had a very great resume and was involved in school. I scored off the charts in my pre-employment screening process. As an first-time employee, I had more of an understanding and knowledge of those than most people who had been working there for a while, and was training others just three months into my position. I applied for a basic job there (entry-level) that was gonna pay me a relatively meager was, but was given a management level position with a 2$ difference in pay. I was jaw-dropped. They even had me interview for a position later in the day for an even higher position, but they opted to go with someone who had a degree and was in the company for a few years. Wasn't upset at all, I did better than what I aimed for!

At the end of my time, they liked my expertise in that area so much, they wanted me to be the Senior Graphics Lead and designer exclusively for one of America's largest law firms, but I declined and moved to Colorado. I don't necessarily regret the decision, but I would be a lot further ahead in my professional career had I went that route.

It would have been fine pay and a nice experience, but it would have been monotonous work that would have bored me for a while, so I had to do something different. My last job in Colorado had nothing to do with my work at all, but was hired because I had a degree. I was also given a significantly higher rate of pay to begin with and a much higher ending bonus because of that.

Like I said earlier in my post and as you clarified in yours, it's not necessarily what you studied or had as a discipline, it's how well-rounded you are. I know a lot of Liberal Arts majors working as baristas or whatever the **** at a coffee shop because they went to school and ****ed around and didn't become a diverse individual.

Fact was, I do a lot of things well that aren't related to what I learned and people love that about me. Whenever I go into an interview, I not only tell people why I'm interested in the position, but what I can do outside the goals of the position to make them successful. Employers don't want blanket-answers to their sh*t. They don't want robots. They want innovative thinkers who can raise the bar. My last job consisted of a lot of database development, social media market and sales. Not relevant to anything at all, but it was stuff I knew his business needed help in and I made it happen. I came up with creative ways to help my boss maintain a steady revenue and outreach new customers and clients that he would have never thought possible, in a bad year for the industry I was in.

Now, I'm onto the next thing. I'm probably going to try and get campaign work for the next 6-7 months, because I have aspirations to get back into the political arena and do something in that regard. I also want to go back to school as well. I know my skills and strengths, and I know teaching or being in an administrative role is something I can excel at. Both of my past positions have been management in some sort of fashion because I deal well with coordinating plans and people.

Long-winded post, but thought it would be the DREK way to answer a question. :D

And I bet your wife is awesome. Archaeology. WOO. :)

Beantown Bronco
04-18-2012, 11:05 AM
Chicago is not the Midwest man.



Your geography teachers failed you.

http://en.wikipedia.org/wiki/Midwestern_United_States

lolcopter
04-18-2012, 11:07 AM
lol Chicago is most definitely in the Midwest

CO on the other hand.... It pisses me off to no end when people include CO in the midwest

alkemical
04-18-2012, 11:12 AM
lol Chicago is most definitely in the Midwest

CO on the other hand.... It pisses me off to no end when people include CO in the midwest

that's where the east of the west starts.

Requiem
04-18-2012, 11:12 AM
lol Chicago is most definitely in the Midwest

CO on the other hand.... It pisses me off to no end when people include CO in the midwest

After living there for 9 moths, I can tell you there are A LOT of Midwestern fokl there, but CO is definitely not MIDWEST. It is a unique animal!

Drek
04-18-2012, 11:16 AM
Long-winded post, but thought it would be the DREK way to answer a question. :D
And it is a perfect example of what I always try to tell people. Vision, talent, and work ethic lead the way, a college education is just a way to help you focus those attributes. Ultimately they'll decide how far you'll go. But that is also why things you can't really be "taught" greatness at, like writing, acting, painting, etc. just aren't worth paying to go to school for. Maybe some added classes here and there, but if you're paying for a degree make sure there is a reasonable expectation for it to pay you back and then some.

And I bet your wife is awesome. Archaeology. WOO. :)
Shockingly amazing on a daily basis. The sheer breadth of her knowledge in her field is insane. But that came from her own personal interest in the field, not just her education. Many of her peers are slinging coffee or at best shovel bumming around on digs with no upward movement possible. But while they were trying to find an easy thesis to write she spent every evening for a semester going to a different university just to learn how to analyze one particular side aspect of her >200 page thesis that she wrote in all of two months after she'd finished the majority of her lab work.

It all comes down to vision, talent, and work ethic.

Drek
04-18-2012, 11:19 AM
Your geography teachers failed you.

http://en.wikipedia.org/wiki/Midwestern_United_States

Try living in the Midwest some time. Chicago is about as much like the Midwest as Dubai is to the entire Middle East.

Hell, anyone south of Peoria would prefer to not acknowledge Chicago as part of Illinois.

mosca
04-18-2012, 11:20 AM
Learn a trade. Seems like this is frowned upon a lot and I kind of wish I had gone that route. Plus it seems you can eventually branch out and start your own business a little easier. Instead I am stuck in the corporate world with my degree wondering what's next.
This is the best advice on here, IMO. There will always be a need for people who have hands-on skills to create and fix stuff.

24champ
04-18-2012, 11:22 AM
Yep, in the middle of a master's program right now and have rougly 17k total in in student loans from both undergrad and graduate school that I will have to pay off when I am done. I only used those loans for living expenses and paying for books. I really like what Socal did, and I plan on doing something similar to just pay it off really quickly and save money in the long run. I'd also probably consolidate my loans when it is all said and done, just so it is easier to keep track of the bills.

Most of my tuition has been paid for by scholarship and the govt. Recently my grad program got a huge grant, so schooling is paid for and that's about 50k of tuition I don't have to worry about! :yayaya:

alkemical
04-18-2012, 11:22 AM
This is the best advice on here, IMO. There will always be a need for people who have hands-on skills to create and fix stuff.

X3

Beantown Bronco
04-18-2012, 11:37 AM
Try living in the Midwest some time. Chicago is about as much like the Midwest as Dubai is to the entire Middle East.

Hell, anyone south of Peoria would prefer to not acknowledge Chicago as part of Illinois.

That's all fine and dandy, but it doesn't change the fact that Chicago is clearly in the midwest.

alkemical
04-18-2012, 11:39 AM
That's all fine and dandy, but it doesn't change the fact that Chicago is clearly in the midwest.

Only to east coasters.

Drek
04-18-2012, 12:14 PM
That's all fine and dandy, but it doesn't change the fact that Chicago is clearly in the midwest.

Only geographically. Most of the Midwest could just as easily uproot and go to Boston, New York, D.C., or L.A.. Both from a practicality of it (far enough away from "home" to be an airplane ride) and from a culture shock standpoint.

Chicago is a separate island in the middle of the Midwest just like Austin is a separate island in the middle of Texas.

Drek
04-18-2012, 12:16 PM
Only to east coasters.

****, I AM an east coaster. I just understand how different this country is as you go across it. Chicago is more like New York than St. Louis, Indianapolis, Oklahoma City, Kansas City, etc..

alkemical
04-18-2012, 12:28 PM
****, I AM an east coaster. I just understand how different this country is as you go across it. Chicago is more like New York than St. Louis, Indianapolis, Oklahoma City, Kansas City, etc..

You've gone thru it though. Not saying Beantown hasn't..but trust me. I'm from Pueblo, and it's interesting to hear 'region specific' people not understand nuances in other regions.

Archer81
04-18-2012, 12:35 PM
You should follow your bliss and do what you will, but I would second or third others and suggest switching with those because you'll have a harder time getting sound employment than what your previous path was on. I did my double major in Political Science and Anthropology (I thought you were on a similar route) and my first job out of school (had I worked there a full year) would have put me in that 35k range, but that isn't including full benefits in health, vision and dental which I believe to be worthy of another couple grand yearly. It was basically doing legal, business and research solutions. At the end of my time I was also in charge of coordinating graphics design for a law firm based out of Seattle, a skill that I had outside of the classroom.

Are you involved in any writing programs at school? Do you work as an editor for anything? School paper? Secretary for Student Government or anything? If you go for a major like that, you need to be in an area where you are gaining applicable experience moving forward. My friend didn't have that, and ended up shelling out more money to go and get a Master's so he could at least teach community college intro courses, etc.

I'm not one to ever knock what someone wants to study, but getting a ROI is extremely important. I kinda slapped that in the face when I moved to Colorado and switched fields and did something different completely, but the experience is worth it to me. I have no doubts that I can get something similar or better to what I had previously. In fact I know I will, because frankly unless I get desperate, I won't settle for anything else.

Long story short, a degree is awesome, but if you do nothing in college but go to school, it isn't going to matter. Everyone I know who is out of college right now making a liveable wage or moving on in their life was involved in student activities and programs. They met people, made connections and were able to succeed because of that AND their diligence in the classroom.

It's more than just a degree. Good luck to you. :wave:


At the moment I am trying to get my undergrad work done. I keep bouncing back and forth, and at the moment I have no idea what I want to do. Some days I want to write. Some days I want to study people. Some days I want to work for a videogame developer. Some days I want to study religions. I do know I will be moving in a year, regardless of what I pick to study.

I wont know what I want to do until I am actually studying for it. If that makes any sense.

:Broncos:

alkemical
04-18-2012, 12:37 PM
At the moment I am trying to get my undergrad work done. I keep bouncing back and forth, and at the moment I have no idea what I want to do. Some days I want to write. Some days I want to study people. Some days I want to work for a videogame developer. Some days I want to study religions. I do know I will be moving in a year, regardless of what I pick to study.

I wont know what I want to do until I am actually studying for it. If that makes any sense.

:Broncos:

There are lots of opportunities in "game theory (http://en.wikipedia.org/wiki/Game_theory)". that might sort of fit what you enjoy doing.

Requiem
04-18-2012, 12:44 PM
At the moment I am trying to get my undergrad work done. I keep bouncing back and forth, and at the moment I have no idea what I want to do. Some days I want to write. Some days I want to study people. Some days I want to work for a videogame developer. Some days I want to study religions. I do know I will be moving in a year, regardless of what I pick to study.

I wont know what I want to do until I am actually studying for it. If that makes any sense.

:Broncos:

I just turned 25 and am two years removed from school. It took me a while after I graduated to get a job I wanted. I relaxed for two months and traveled, after that I moved back to Fargo and I had a three month screening process at my alma matter for a project coordinator position dealing with international students, but lost out to a woman with a Master's from a Top 5 UK Institute and she had interned at the Royal Museum in England. It was a big blow, but the fact that I got down to the final two was awesome. Two weeks later, I was hired at the job I described above.

I still don't know *exactly* what I want to do, but I have a pretty good idea. I really like academia the best out of any field I worked in, so I want to go back to school sometime and go that route. I told Drek I'd like to get my MA/MS in Anthropology and continue to strive to be a teacher/professor or work in some sort of academic role. Non-profit's also interest me. My last choice would be governmental work.

At the end of the day, a lot of what Drek says is true. Drive, vision, passion and a work ethic is great. It's a primary objective for a lot of employers, while a degree usually comes secondary to that. What you can add to the business dynamic of a potential employer is enormous in selling yourself. All you gotta do is step up to the plate and take a swing, even if you miss.

I used to get discouraged applying for a bunch of jobs and getting turned down, but it is a battle of attrition. The first job I applied for post graduation was a researcher position at the University of Maryland. Over 300 people applied to that, so I probably knew I was toast from the get go, but as someone once said -- you miss all the shots you never take.

Shoot for the stars and it'll all be good. You're an astute person and have a good head on your shoulders. You will eventually find the path you want to be on. We almost all do. Good luck, Chris. :)

OrangeCrush2724
04-18-2012, 01:46 PM
the interest on student loans is only deductible if you make less than a certain dollar amount.

I don't think thats true. I paid 17k in interest last year alone on my student loans. They have a max deductible of only $2,500 for interest on student loans. But I am a private contractor, so the rules might be different.

Mountain Bronco
04-18-2012, 03:57 PM
^^^ They do phase out your interest deduction to the point where I can't deduct anything on my student loans anymore.

Paying mine as slow as possible as my interest rate is 1%.

Goobzilla
04-18-2012, 06:55 PM
This is the best advice on here, IMO. There will always be a need for people who have hands-on skills to create and fix stuff.

Unfortunately, schools and parents are part of the blame on this. HS Vo-tech programs have been gutted over the years for more "intellectual" pursuits. Kids aren't getting the exposure to the trades they used to, parents are so locked in on college for their kids and it's all they talk about from preschool on. It is possible to be successful in this world without a degree, Vocational training, apprenticeships, and military training are all alive and well even though they rarely get mentioned.

tsiguy96
04-18-2012, 07:28 PM
Unfortunately, schools and parents are part of the blame on this. HS Vo-tech programs have been gutted over the years for more "intellectual" pursuits. Kids aren't getting the exposure to the trades they used to, parents are so locked in on college for their kids and it's all they talk about from preschool on. It is possible to be successful in this world without a degree, Vocational training, apprenticeships, and military training are all alive and well even though they rarely get mentioned.

agree completely. and having been in school for so long, the sheer number of kids entering college is requiring schools to lower their academic standards in terms of entrance and teaching level/difficulty to fit the bell curve. now courses must accommodate everyone and as such academic quality suffers. not saying academics should only be left for the elite, but at some point their needs to be a point where some kids just are not cut out for it and schools not forced to change their classes for these students.