Another reason why going to college is WAY too expensive

http://finance.yahoo.com/college-education/article/108846/the-555000-student-loan-burden?mod=edu-continuing_education

Her fault or not, that is just outrageous but also not that surprising at the same time. The cost for a student to attend school is way way way overpriced and especially for the long term.

http://finance.yahoo.com/college-education/article/108846/the-555000-student-loan-burden?mod=edu-continuing_education

Her fault or not, that is just outrageous but also not that surprising at the same time. The cost for a student to attend school is way way way overpriced and especially for the long term.

MaddenBowler10

Stuff like this makes me appreciate that tertiary education in my country is free. Apart from that, we get a monthly maintenance grant along with a yearly one to cover expensive books, stationary, photocopies of notes set by lecturers etc. Also, no extra living costs cos everyone lives a max of 10km away, except international students of course.

I guess that's too socialist for some people.

College is only for ppl who wanna make something of themselves....:|

whats wrong with the world these days?

I quit school because I aim to make money and not put myself in debt. It's all about making profits and proper investments. And when I get rich I'm going to laugh at everyone who doubted me. My success is inevitable. Only death can stop me.

I quit school because I aim to make money and not put myself in debt. It's all about making profits and proper investments. And when I get rich I'm going to laugh at everyone who doubted me. My success is inevitable. Only death can stop me.

Assassin1349

Care to play russian roulette with me, my revolver is fully loaded. You may go first. (evil laugh)

The Great Recession.

No it's not too expensive. A lot of folks don't seem to get college is not supposed to be for everyone or most people. Hell state colleges are super cheap in relativity.

This is why I have always been against interest; both for savings and for loans. There is no reason for a loan to pay for school should more than double in a couple years, nor should it cost so much to go to school in the first place. I personally think that it is banks and the charging of interest on loans specifically that is destroying the economy (not to mention banks giving out money to people they know won't be able to pay it back within their lifetime).

This is why I have always been against interest; both for savings and for loans. There is no reason for a loan to pay for school should more than double in a couple years, nor should it cost so much to go to school in the first place. I personally think that it is banks and the charging of interest on loans specifically that is destroying the economy (not to mention banks giving out money to people they know won't be able to pay it back within their lifetime).

foxhound_fox

So basically, you are against banks making money.

This is why I have always been against interest; both for savings and for loans. There is no reason for a loan to pay for school should more than double in a couple years, nor should it cost so much to go to school in the first place. I personally think that it is banks and the charging of interest on loans specifically that is destroying the economy (not to mention banks giving out money to people they know won't be able to pay it back within their lifetime).

foxhound_fox

This is why I have always been against interest; both for savings and for loans. There is no reason for a loan to pay for school should more than double in a couple years, nor should it cost so much to go to school in the first place. I personally think that it is banks and the charging of interest on loans specifically that is destroying the economy (not to mention banks giving out money to people they know won't be able to pay it back within their lifetime).

foxhound_fox

So basically, you are against banks making money.

789shadow

Then there is no incentive for the money to be loaned......:|LJS9502_basic

Against interest? How do you expect to make money to be made off loans? You also have to factor in the sheer number of deadbeats that never intend on actually paying back the loan or just never do for whatever reason. If there was no interest the banks wouldn't have made any money. The moral of the story is don't take loans you can't or aren't willing to pay back.

Pirate700

[QUOTE="789shadow"]So basically, you are against banks making money.

foxhound_fox

I consolidated student loans for a couple years during my early college days...and some of the amounts people owed were insane. Some were up to 300-400k dollars in federal loans alone...with more in private loans.

I consolidated student loans for a couple years during my early college days...and some of the amounts people owed were insane. Some were up to 300-400k dollars in federal loans alone...with more in private loans.

UltimoIce

[QUOTE="LJS9502_basic"]Then there is no incentive for the money to be loaned......:|foxhound_fox

[QUOTE="UltimoIce"]

I consolidated student loans for a couple years during my early college days...and some of the amounts people owed were insane. Some were up to 300-400k dollars in federal loans alone...with more in private loans.

Pirate700

No clue, but they better be making millions soon.

That's my point, no one should be making money off of loans.

foxhound_fox

Then there is no incentive to give loans...then there is no growth...

What? That makes no sense. If you are against loans then what exactly is collateral for?:|

LJS9502_basic

[QUOTE="LJS9502_basic"]Then there is no incentive for the money to be loaned......:|foxhound_fox

Then the bank still has no incentive to loan someone the money. If the borrower pays everything back the bank will make no profit.

[QUOTE="LJS9502_basic"]What? That makes no sense. If you are against loans then what exactly is collateral for?:|

[QUOTE="foxhound_fox"]

[QUOTE="LJS9502_basic"]Then there is no incentive for the money to be loaned......:|LJS9502_basic

Stuff like this makes me appreciate that tertiary education in my country is free.

the_one34

Wow. Where do you live?

Good thing I'm rich.

School in america seems to be really expensive. Then again the UK isn't too nice to me either D: at the end of this I would be spending like 60,000

Anyway, I agree College/Uni is expensive. Im playing 12k to do a degree which probably wont even get me a job. To give myself an advantage in the jobs market I will have to do a Masters degree which will cost me another 5k.Big_Bad_Sad

[QUOTE="LJS9502_basic"]What? That makes no sense. If you are against loans then what exactly is collateral for?:|

foxhound_fox

That is what a loan is. There is no misreading.:| You don't pay....they take possessions. And without being able to make money on the loan...no bank is giving a student a loan. So, in effect, less people get to go to a university.

LJS9502_basic

[QUOTE="LJS9502_basic"]That is what a loan is. There is no misreading.:| You don't pay....they take possessions. And without being able to make money on the loan...no bank is giving a student a loan. So, in effect, less people get to go to a university.

foxhound_fox

That's nice. Your family paid for your education. Not everyone has that luxury. So your answer seems to be "too bad that everyone doessn't get that opportunity". Do without.

No one is forced to take a loan. It's a choice. No one is forced to select an expensive college for that matter.

So wait... loans = interest? I loan people money all the time and don't charge them interest. I think there is something wrong with your logic here.

I went to and am going to university without any loans. My parents and grandparents saved up money for me when I was younger, giving me the ability for me to go to university. And its not like I can't get a job and make money to pay for tuition.

Many organizations/companies pay students to go to university and get degrees, on top of paying for their education. Its not just banks that give loans to students.

I'm just trying to say I'm against the charging of interest on loans. I don't care if its bad for business... I just don't feel it is a scrupulous practice. I didn't say business had to be scrupulous either.

foxhound_fox

You loaning people $ =/= a bank loaning millions to strangers
-there would be no bank loans w/out interest...that means no expansion and no economic growth (that is how the FED controls growth through rates and deposit requirements)

Maybe she should've thought about that before jumping into med school? I mean seriously it's like buying a Ferrari then complaining that you're burdened with huge debts. If you can't afford it, don't do it. I worked 2 years and saved money like crazy before being able to get my diploma.F1_2004

.. The radical majority of doctors out there are neck deep in debt right after med school.. This kind of logic basically would lead to where the rich really only have the only chance.. Which spits in the eyes of the whole fantasy of the "land of oppertunity".. You would think talent, detirmination, would be more important then how big your mommy's and daddy's pocket books are.

[QUOTE="LJS9502_basic"]That is what a loan is. There is no misreading.:| You don't pay....they take possessions. And without being able to make money on the loan...no bank is giving a student a loan. So, in effect, less people get to go to a university.

foxhound_fox

Even though my education so far seems to have been completely useless, I would not have been able to go to college without private loans. Why would a stranger give me thousands of dollars for nothing? It seems my family isn't as rich as yours, so I shouldn't be able to go to school?

Even though my education so far seems to have been completely useless, I would not have been able to go to college without private loans. Why would a stranger give me thousands of dollars for nothing? It seems my family isn't as rich as yours, so I shouldn't be able to go to school?

wstfld

[QUOTE="wstfld"]Even though my education so far seems to have been completely useless, I would not have been able to go to college without private loans. Why would a stranger give me thousands of dollars for nothing? It seems my family isn't as rich as yours, so I shouldn't be able to go to school?

foxhound_fox

.........:| No it doesn't, forward thinking is just one of the things you have to worry about.. Your Mommy and Daddy were fortunate enough they could do that without worrying about their own school loans or other numerous problems.. You are oversimplyfing the notion and coming off as insulting that the people who are indebt were careless and not "forward thinking".. This is even suggesting that your parents ever had the desire to do such things.. Another big if for many families.

[QUOTE="F1_2004"]Maybe she should've thought about that before jumping into med school? I mean seriously it's like buying a Ferrari then complaining that you're burdened with huge debts. If you can't afford it, don't do it. I worked 2 years and saved money like crazy before being able to get my diploma.sSubZerOo

.. The radical majority of doctors out there are neck deep in debt right after med school.. This kind of logic basically would lead to where the rich really only have the only chance.. Which spits in the eyes of the whole fantasy of the "land of oppertunity".. You would think talent, detirmination, would be more important then how big your mommy's and daddy's pocket books are.

[QUOTE="F1_2004"]Maybe she should've thought about that before jumping into med school? I mean seriously it's like buying a Ferrari then complaining that you're burdened with huge debts. If you can't afford it, don't do it. I worked 2 years and saved money like crazy before being able to get my diploma.sSubZerOo

.. The radical majority of doctors out there are neck deep in debt right after med school.. This kind of logic basically would lead to where the rich really only have the only chance.. Which spits in the eyes of the whole fantasy of the "land of oppertunity".. You would think talent, detirmination, would be more important then how big your mommy's and daddy's pocket books are.

You are oversimplyfing the notion and coming off as insulting that the people who are indebt were careless and not "forward thinking"..

sSubZerOo

I agree
-as someone whose mom worked two and half jobs just for us to live I find it insulting that you say it was all due to a lack of " forward thinking"...needless to say I had to put myself through school (all 4 times) with grants, working full time, AND LOANS

Not to mention your suggestion would cripple all future economic growth

[QUOTE="sSubZerOo"]

[QUOTE="F1_2004"]Maybe she should've thought about that before jumping into med school? I mean seriously it's like buying a Ferrari then complaining that you're burdened with huge debts. If you can't afford it, don't do it. I worked 2 years and saved money like crazy before being able to get my diploma.LJS9502_basic

.. The radical majority of doctors out there are neck deep in debt right after med school.. This kind of logic basically would lead to where the rich really only have the only chance.. Which spits in the eyes of the whole fantasy of the "land of oppertunity".. You would think talent, detirmination, would be more important then how big your mommy's and daddy's pocket books are.

Yes but this puts tremendous pressure ont eh person getting the job.. Even then at elevated wages it could take close to a decade to paying it off..

[QUOTE="sSubZerOo"] You are oversimplyfing the notion and coming off as insulting that the people who are indebt were careless and not "forward thinking"..

rawsavon

I agree
-as someone whose mom worked two and half jobs just for us to live I find it insulting that you say it was all due to a lack of " forward thinking"...needless to say I had to put myself through school (all 4 times) with grants, working full time, AND LOANS

Not to mention your suggestion would cripple all future economic growth

[QUOTE="LJS9502_basic"][QUOTE="sSubZerOo"]

.. The radical majority of doctors out there are neck deep in debt right after med school.. This kind of logic basically would lead to where the rich really only have the only chance.. Which spits in the eyes of the whole fantasy of the "land of oppertunity".. You would think talent, detirmination, would be more important then how big your mommy's and daddy's pocket books are.

sSubZerOo

Yes but this puts tremendous pressure ont eh person getting the job.. Even then at elevated wages it could take close to a decade to paying it off..