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. #31
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Fiddytree View Post
    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.
    Sounds like your parents did everything they could. Good for them, and you.

  2. #32
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by MaggieD View Post
    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."
    That's fine and all, but it is not going to be an option for anything even remotely resembling a majority of students. Those kinds of scholarships are competive, which, by their very nature, means that only a select few individuals will ever have access to them.

    This is, of course, assuming that a person even has the connections available to know about such things in the first place. I, for instance, was home schooled, and as such, didn't have access to any of those kinds of resources.

    Based off of SAT scores alone, I was thankfully able to pick up a scholarship worth about three grand a year from the South Carolina Department of Education. The GI Bill also covered most of my living expenses while I was in school. However, both of those were ultimately only a drop in the bucket as far as my overall expenses were concerned.

    Frankly, the simple fact of the matter is that we shouldn't have a educational system modeled after the damn "Hunger Games" in the first place. If it's really going to be the case that college degrees become effectively worthless if the people going for them fail to behave like perfectly disciplined Randian ubermensch the entire time they are in school, most people would honestly be better off not even going.

    The way things are today, the whole setup is basically a scam.

    Edit:

    Correction, it was actually five grand a year for the scholarship.
    Last edited by Gathomas88; 11-05-13 at 07:56 PM.

  3. #33
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    Re: How much college debt do you or your kids have?

    I'm in my mid 20s. Self employed for the most part with some client work. Currently enrolled in a long distance program to get a BA in history/political science. I'm not a "classroom" person. Have biweekly meetings over skype with professors. No debt, paid in full. I've been blessed for the last 10 years or so of my life - so I'm using it to better myself. My kid won't have any debt either. Papa gets money.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

  4. #34
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by MaggieD View Post
    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."
    How many of those scholarships are offered each year?
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  5. #35
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by MaggieD View Post
    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? 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."
    Scholarships are designed to weed out candidates. It's not an all-inclusive program. No matter what you do, if you are not meeting the bracket, you're out. All this is saying is "beat most of your peers, but if you don't you're not going to get subsidized." If 60% of students raise their GPA's, scholarships will only match the change with more selectivity.
    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

  6. #36
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    Re: How much college debt do you or your kids have?

    No debt. Wealthy college + poor background = free.

  7. #37
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    Re: How much college debt do you or your kids have?

    The wife and I have our debt down to about 63k, from a tad over 100k. Once I get more equity in the house, I'm gonna buy out our loans outright. Interest on the house is much lower than on my wife's loans. She went Sally Mae, who won't consolidate, and the interest rates, while low over the last couple years, will likely be back to their former 10% and higher glory in no time.

    We both have bachelors. We both regret the expensive choice in schools, and the poor selection of degrees (photography for me and illustration for her). We both make money at it, but not much.

    Debt for school is an altogether bad thing, however, one expects a bit more, job wise, for an education gained, than many are getting. I got a lotta 4 and 6 year degree holders working for me.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

  8. #38
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Rocketman View Post
    After reading the balance of college debt nationally I just wonder how many here have it and why you have it? Did you not save for college? plan for college? Go to an expensive school just for the experience? why? why? why?
    I went to college/grad school on scholarships. The only debt I had was related to living expenses, books, and classes I took during summers. I paid those from work or put them on my plastic. Before I graduated from grad school, I took out an unsecured obscenely low interest loan available to students and used it to pay off all my credit cards. The loan had payment tiers, so the more I paid a month, the less the interest was for the next month, so I was basically getting the money for about the rate of inflation. My parents' combined annual income was less than my tuition and my total cost of college tuition exceeded what I could borrow from the government by a pretty nice chunk, so it was either get scholarships or academically settle for less.

  9. #39
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    Re: How much college debt do you or your kids have?

    Quote Originally Posted by Ikari View Post
    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.
    All I stated was my personal opinion. You may not want to get into a "my life was harder than yours" debate with me.

    As for your statement regarding "coddling" kids, throwing them out on their ass into the world isn't a good prospect either. My kids have never wanted for anything, mostly because I didn't want them to suffer like I did. They understand how lucky they are. They also understand fiscal responsibility (not sure about physics, although they both did well in those courses in college).

    Making sure, as a parent, that your children are assisted by you as much as you can financially do, does not equate to coddling or harming your children. Both of my kids have had jobs since they were 16; scout camp, landscaping, etc. My oldest published his first book at the age of 15, and he gets the proceeds from that. I educated them about fiscal responsibility, and still had veto power over any purchases they made, until the age of 18. After that, they had to report to me and their mother, how much they had in the bank and what they spent and on what it was spent.

    Both of my boys have a small nest egg built up. And for that, I'm thankful. If your theory held any water, they would be broke and destitute.

  10. #40
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    Re: How much college debt do you or your kids have?

    No debt. I grew up in an era when tertiary education was free. Which is not to say I didn't value it, or earn my place.
    Don't work out, work in.

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