View Poll Results: How much college debt do you or your kids have?

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  • <$10,000

    5 9.09%
  • <$25,000

    5 9.09%
  • <50,000

    7 12.73%
  • <100,000

    2 3.64%
  • >100,000

    5 9.09%
  • no college debt

    31 56.36%
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Thread: How much college debt do you or your kids have?

  1. #21
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by MaggieD View Post
    Well, let's think about it a moment. First of all, there are scholarships. Secondly, there are grants. Third, there are birthdays, Christmases, graduation presents, presents of all kinds rained down on kids as they're growing up. Fourth, I know it's shocking and painful, but there's part-time jobs from babysitting on through high school. Fifth, there's the newest cell phone release every year. Stop it. Sixth, another shock??!! There's community college. OMG!! Noooooo!!!

    Spend half, save half. A great philosophy. I just bought Tom's nephew a piggy bank. He's 4+ years old. Can't start too young:



    Four spigots at the bottom to take out money in each of the four compartments.

    I know taking responsibility for one's self is a shock to many young people's systems, but that's the way it used to be. It oughta' be that way again.
    Yeah, but that can only get you so far. Anecdotal story: my family was never with means, school demanded most of my attention in high school (I was the student that spent many hours a night frantically trying to grasp mathematics-and failing-instead of being with friends), and frankly, community college was more of a death sentence.

    Rather than be able to save for paying for living expenses, I was saving to buy a used car, my first car. Thereafter, I was saving for travel expenses, research expenses, membership expenses, and anything else for the program to cost dough. In graduate school, professors were saying how little they paid us for doing work, but I was content with it as it paid most of the living expenses. However, I was blocked from those cheaper living arrangements for years by the university (living off campus is far more expensive as well), and they just kill. Then at the university level, well, let's just say there wasn't that much time for work that paid beyond minimum wage and work requiring less than 20 hours a week.

    There was no way I was coming out debt free. The thing was I didn't mind that. I knew I needed to borrow a lot of money to even get a shot at what most folks took for granted. That being said, I think the debt-free idea is ludicrous.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

  2. #22
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    Re: How much college debt do you or your kids have?

    I will heading off next year here the tuition is around 7000$/year since almost every university is public (including the top schools in the country) tuition rates are regulated and the same for each province. Though if I claim Quebec residency (where the university I want to go to is located) after living there for a year I can get my tuition subsidized and it goes down to 3000$/year. Residence is going to be the killer at much more than my tuition or I could rent for less. My parents will pay for part of it and I plan to pay for the rest with paid co-op and since afterwards I want to get certified to be an accountant, I'm almost assured a high starting salary job right off the bat. OSAP loans before I declare or if I choose not to are great, they a combination of grant money and very low rate loans that you don't start paying till you are done. I don't plan to have much when I get out and what I do have, I hope will be gone within five years.

    I have no idea how Americans pay back student debt. If I wanted to rack up the same amount of debt some people on this thread I would have to take multiple doctorates.
    Last edited by Carjosse; 11-05-13 at 07:27 PM.

  3. #23
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    Re: How much college debt do you or your kids have?

    Right now I have 96k. I'll have around 200-220k when I'm done.
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  4. #24
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by MaggieD View Post
    Well, let's think about it a moment. First of all, there are scholarships. Secondly, there are grants. Third, there are birthdays, Christmases, graduation presents, presents of all kinds rained down on kids as they're growing up. Fourth, I know it's shocking and painful, but there's part-time jobs from babysitting on through high school. Fifth, there's the newest cell phone release every year. Stop it. Sixth, another shock??!! There's community college. OMG!! Noooooo!!!

    Spend half, save half. A great philosophy. I just bought Tom's nephew a piggy bank. He's 4+ years old. Can't start too young:



    Four spigots at the bottom to take out money in each of the four compartments.

    I know taking responsibility for one's self is a shock to many young people's systems, but that's the way it used to be. It oughta' be that way again.
    I'm sorry, but this is simply unrealistic. There is no way in Hell that the average undergrad is going to be able to get their tuition fully covered by scholarships or grant money when almost literally every Middle Class youth in the 17-27 age bracket is applying for them. For that matter, unless a person happens to come from an obscenely wealthy family, there is no way that graduation gifts are going to be anything more than a drop in the bucket where overall tuition is concerned.

    Part time jobs are hardly a viable option for circumventing loans either. The kind of pay they provide is wildly inadequate for covering even basic living expenses, let alone covering thousands of dollars in additional expenses.

    Someone might be able to get through college debt free using the methods you have described if they are extraordinarily lucky and simply happen to be an absolute machine of individual who is unopposed to working like a slave for four years. However, that is not an option for most people, nor will it ever be.

    The more likely reality of what you've described would be someone working their way through college for half a decade or more one class at a time while probably working full time on the side. Frankly, the odds are that a person with those kinds of priorities would only make mediocre grades at best, which hampers their future opportunities for advancement in any professional field requiring a degree anyway.
    Last edited by Gathomas88; 11-05-13 at 07:30 PM.

  5. #25
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by kerussll View Post
    This sounds a tad judgmental…. I went to an inexpensive (relative) state school, and even lived at home for the first two years. My parents paid for it, but the bill was well over 30,000 total. How on earth is a teenager supposed to save for that so they don't have any debt when they graduate?
    Teenagers shouldn't. Ensuring your children get an education, and have a future, is the responsibility of the parents, IMHO.

    If a loan is required, which in many cases it is, the debt should be a burden borne by the parents. When we decide to have children, we also decide to assume the responsibility that goes along with that choice, including ensuring their education.

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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Beaudreaux View Post
    Teenagers shouldn't. Ensuring your children get an education, and have a future, is the responsibility of the parents, IMHO.

    If a loan is required, which in many cases it is, the debt should be a burden borne by the parents. When we decide to have children, we also decide to assume the responsibility that goes along with that choice, including ensuring their education.
    I think parents should bore the brunt until you can pay them yourself with your own salary; I believe that is reasonable. Otherwise someone is going end up bankrupt.

  7. #27
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    Re: How much college debt do you or your kids have?

    $0.

    Tuition assistance for my BA through the military (I think $4,500 a year, no book costs), kept using TA for some of my Master's and then got out and was able to use my GI Bill on the rest. Only paid a little out of pocket there. Not a bad gig: get a clearance, go to California and learn a language, end up getting out many years later with both of those and a Master's with no debt.
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  8. #28
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Gathomas88 View Post
    I'm sorry, but this is simply unrealistic. There is no way in Hell that the average undergrad is going to be able to get their tuition fully covered by scholarships or grant money when almost literally every Middle Class youth in the 17-27 age bracket is applying for them. For that matter, unless a person happens to come from an obscenely wealthy family, there is no way that graduation gifts are going to be anything more than a drop in the bucket where overall tuition is concerned.

    Part time jobs are hardly a viable option for circumventing loans either. The kind of pay they provide is wildly inadequate for covering even basic living expenses, let alone covering thousands of dollars in additional expenses.

    Someone might be able to get through college debt free using the methods you have described if they are extraordinarily lucky and simply happen to be an absolute machine of individual who is unopposed to working like a slave for four years. However, that is not an option for most people, nor will it ever be.

    The more likely reality of what you've described would be someone working their way through college for half a decade or more one class at a time while probably working full time on the side. Frankly, the odds are that a person with those kinds of priorities is only going to make mediocre grades at best, which hampers their future opportunities for advancement in any professional field requiring a degree anyway.
    I disagree with you. But maybe that's because I have two nieces who got full scholarships at Texas Christian University -- worth $100K each. How did they do that? They set out to do that. The oldest set the example. She sought out the TCU representative when she was in high school and said, "What do I have to do to get a full scholarship?" The gal really liked her hutzpa and told her. Paraphrased: "Volunteer as much as you can. I'll mail you the essay of the last girl who got a full scholarship. Model her essay and model her life. Get great grades. You might have a shot if you can put it all together."

    I don't remember her ACT score right now -- but I posted it on here quite a while ago. Her 2-year-younger sister took that advice as well. Got a lower ACT score than her sister and, while it was great, took it again and surpassed her older sister.

    Both of them volunteered as soccer coaches all through high school. They were eventually hired by the district while in school and got paid more per game than they could have EVER earned. Saved it all for college. (I imagine they'll save it for their weddings or for a down payment on a house.)

    They never owned cars. Still don't -- and they're in their 1st/2nd years.

    So you'll have to excuse me for not buying, "It can't be done."

  9. #29
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Beaudreaux View Post
    Teenagers shouldn't. Ensuring your children get an education, and have a future, is the responsibility of the parents, IMHO.

    If a loan is required, which in many cases it is, the debt should be a burden borne by the parents. When we decide to have children, we also decide to assume the responsibility that goes along with that choice, including ensuring their education.
    Not every family has that rather bourgeois luxury. Granted my situation was rather unique, but we were a middle class family that was strapped for cash every month, and financial experts that they consulted with said "well, we don't know how you're even surviving the way you are right now." They could offer no financial advice that my folks were not already implementing. The most they could do was help me on some of my first loans. That was a big deal of pride for them to tell me they had been able to do that for me. Dear lord man, that was something I never dreamed of hearing from my folks. It's always been instead, "if we had money we would have loved to do _______ and _____ for you, but you know why we couldn't." That was probably the first time they had actually stated they were able to substantially subsidize my future in any way, shape or form.

    Right now we have the running gag that when "you strike it big" you owe us _______ vacations. I'm probably on number 3, now. It's a joke, because we all know that's not going to happen, but that's what we've done dude...talk about what we we would do under different circumstances.

    Besides, some of the laziest people I know are people who had mommy and daddy pay for school. They would talk to a couple of us on loans, and they were just not there at all. It was like "oh, you have to borrow to do this?" Yes, we do.
    Last edited by Fiddytree; 11-05-13 at 07:39 PM.
    Michael J Petrilli-"Is School Choice Enough?"-A response to the recent timidity of American conservatives toward education reform. https://nationalaffairs.com/publicat...-choice-enough

  10. #30
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Beaudreaux View Post
    Teenagers shouldn't. Ensuring your children get an education, and have a future, is the responsibility of the parents, IMHO.
    BS. I had a job since age 14, I paid half of my college tuition, ended up with a PhD. Part of an education is learning how to take care of yourself. Parents that over coddle tend to have ignorant kids who can't solve simple physics problems no matter how many times you show them how.
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