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Honored Contributor
Posts: 16,230
Registered: ‎03-09-2010

Re: The cost of an education Then & now

Just looking at the cost of the education then and now doesn't mean a whole lot to me.  There's absolutely no doubt the cost of the education has risen, but so, too, have most salaries, so I'd want to see the cost of the education as a percentage of what a grad would earn in his/her first job, assuming, a job can be found in the right field. 

 

I do think for most grads, education costs have risen more than beginning salaries, but again comparing just the numbers without putting them into a context doesn't mean all that much.

Super Contributor
Posts: 492
Registered: ‎07-21-2017

Re: The cost of an education

In all respect 151949, I didn't say "cream of the crop jobs." Many hospitals don't have new grad programs thus, they don't hire new grads for any position, low end or high. 

Esteemed Contributor
Posts: 7,322
Registered: ‎02-22-2015

Re: The cost of an education

@blackhole99  In today's medical field, a Nurse Practioner will make $100,000 per year. That should not be a problem. 

Money screams; wealth whispers.
Honored Contributor
Posts: 12,702
Registered: ‎08-22-2013

Re: The cost of an education

@BirkiLadyI guess I should have mentioned the 100 thousand dollar education was completed in 2003. My friend was not making 50 thousand dollars a year in 2003, you try paying off a 100 thousand dollar school loan in 10 years when you have other bills. No nurse in our area, no matter what her level of education makes 100 grand a year, maybe in California or some big city. My niece has worked as an RN for 10 years in a very well know hospital in our region and does not make 60 thousand dollars a year.

Honored Contributor
Posts: 8,315
Registered: ‎03-09-2010

Re: The cost of an education Then & now

Article on the nationwide shortage of nurses and lack of capacity in nursing schools to meet demand.

http://money.cnn.com/2018/04/30/news/economy/nursing-school-rejections/index.html

Every hospital in my area hires new grads. Keep in mind I’m speaking of RNs not LVN/LPN. Options are increasingly limited in hospital settings for LVNs. Also RNs need to work toward a BSN (bachelor’s in nursing) if they graduated from a two year program - it’s a requirement for most hospitals.


Esteemed Contributor
Posts: 7,322
Registered: ‎02-22-2015

Re: The cost of an education

@blackhole99That surprises me. 

Money screams; wealth whispers.
Honored Contributor
Posts: 41,253
Registered: ‎03-09-2010

Re: The cost of an education

in the baltimore area the average salary for a nurse is about 68000/year.

 

Salaries for Related Job Titles in the Baltimore area
 
 
 
the average salary for a nurse in maryland overall is about 71000.
 
 
  • 90% of RNs made less than $92,970; 10% made more than $92,970.
  • 75% of registered nurses earned less than $83,830; the remaining 25% earned more than $83,830.
  • 50% of the employees earned less than $70,810; the rest of 50% earned more than $70,810.
  • 25% of RNs were paid annual wages less than $59,590; 75% were paid more than $59,590.
  • 10% of employees were offered less than $51,500; 90% were offered more than $51,500.
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"The world is a dangerous place, not because of those who do evil, but because of those who look on and do nothing." - Albert Einstein
Valued Contributor
Posts: 528
Registered: ‎04-21-2018

Re: The cost of an education

@151949, you didn't pay for your education.  Your grandfather's boss did..    He stormed into his boss's office demanding he make good on keeping his word to pay for your education.  

 

 

Esteemed Contributor
Posts: 7,322
Registered: ‎02-22-2015

Re: The cost of an education Then & now

Doesn't anyone else feel higher education is the responsibility of the parents? Our son was planned after we were married four years. We also planned his education; invested wisely and by age 18 the money was available. He had a 50% scholarship. No debt and money left over is still in my name. 

 

We learned from my paternal great-grandparents who had sent all four of their children to Uni of MO and my maternal great-grandparents, who sent all three of their children to various Universities (of their choices). Both my mom and dad (only children during the depression) were raised by parents who saved and sent them away to out-of-state  Universities in the 1940's. My dad did stop his education in MN to enlist in WWII.  Mom returned to Uni. of Omaha in her senior year due to the gas rationing. Her dad thought it best she not be driving her car from Nebraska to Missouri during the War when gas coupons were used. My education funds were also saved during my childhood and ready when I turned 18 (as was my sister's). 

 

Both my husband and I returned for further education at our own expense. He went on for his Master's and two PhD's. He was fortunate to have the GI Bill to help us with his endeavors. I've gone on for a couple of other degrees in different fields prior to changing positions and/or companies. I was fortunate to work for a Fortune 500 Co. which paid my tuition; I picked up the cost of books, fees and labs (which often was more than tuition). We never had a cent of student debt. During our years as students, we both worked well over 40 hours per week (no paid overtime in our positions). It was grueling at times, but well worth it in changing careers and knowledge of our fields.

 

My son and DIL have most of my grandson's expected tuition already invested for him. It will continue to earn interest for the next seven years. At 18, he'll be ready to go to any school he desires. If he's like his dad, he'll have a scholarship and not need all of the funds set aside! Beats having to take out a loan.  

 

 

Money screams; wealth whispers.
Honored Contributor
Posts: 15,344
Registered: ‎05-01-2010

Re: The cost of an education Then & now


@BirkiLady wrote:

Doesn't anyone else feel higher education is the responsibility of the parents? Our son was planned after we were married four years. We also planned his education; invested wisely and by age 18 the money was available. He had a 50% scholarship. No debt and money left over is still in my name. 

 

We learned from my paternal great-grandparents who had sent all four of their children to Uni of MO and my maternal great-grandparents, who sent all three of their children to various Universities (of their choices). Both my mom and dad (only children during the depression) were raised by parents who saved and sent them away to out-of-state  Universities in the 1940's. My dad did stop his education in MN to enlist in WWII.  Mom returned to Uni. of Omaha in her senior year due to the gas rationing. Her dad thought it best she not be driving her car from Nebraska to Missouri during the War when gas coupons were used. My education funds were also saved during my childhood and ready when I turned 18 (as was my sister's). 

 

Both my husband and I returned for further education at our own expense. He went on for his Master's and two PhD's. He was fortunate to have the GI Bill to help us with his endeavors. I've gone on for a couple of other degrees in different fields prior to changing positions and/or companies. I was fortunate to work for a Fortune 500 Co. which paid my tuition; I picked up the cost of books, fees and labs (which often was more than tuition). We never had a cent of student debt. During our years as students, we both worked well over 40 hours per week (no paid overtime in our positions). It was grueling at times, but well worth it in changing careers and knowledge of our fields.

 

My son and DIL have most of my grandson's expected tuition already invested for him. It will continue to earn interest for the next seven years. At 18, he'll be ready to go to any school he desires. If he's like his dad, he'll have a scholarship and not need all of the funds set aside! Beats having to take out a loan.  

 

 


@BirkiLady.  My parents did pay for their four kids college. I was the only one who didn't graduate. When I went it was two thousand a year. It gradually got more expensive with the other 3 kids.

My sister and BIL paid for their 2 kids, but they also could afford it.

My husbands sister told her kids if they wanted to go to college they would have to pay for it. They all have huge loans.