Community Chat

[NoelSeven]

On 6/30/2014 tansy said:

On 6/30/2014 NoelSeven said:

On 6/30/2014 SnarkyLips said:

On 6/30/2014 NoelSeven said:

On 6/30/2014 SnarkyLips said:

On 6/30/2014 NoelSeven said:

No, I did not say that. What I said was that it can't be done like it was decades ago. Big difference.

You said

They can aspire all they want, but they won't be able to do it, not living on minimum wage and on their own.

That's correct. A part-time minimum wage won't pay for tuition, room and board, books and living costs. Not without help.

Which is where student loans come in.....which is my whole point....

I said I didn't take out student loans. It can't be done like that anymore.

We didn't take out loans either and there were decent jobs available upon graduation.

Yes, ANOTHER big difference. We walked right into high-paying jobs with full benefits.

One of my roommates worked a year, took off 6 months to travel Europe, and came home only to walk into another high paying job.

[NoelSeven]

Cost of Earning a College Degree Prohibitively Expensive for Many

http://heritageaction.com/2014/06/cost-earning-college-degree-prohibitively-expensive-many/

That's the saddest part, imo.

[NoelSeven]

For Low-Income Students, Prohibitive College Costs Hit Hard

http://www.kqed.org/news/story/2013/08/14/124702/for_lowincome_students_prohibitive_college_costs_h...

College Costs Out Of Control Forbes

http://www.forbes.com/sites/steveodland/2012/03/24/college-costs-are-soaring/

[stilltamn8r]

On 6/30/2014 SnarkyLips said:

On 6/30/2014 missyw1 said:

Most people can't. They are usually married (with kids) and bought their first home. it's hard to pay off $1000 loan payment each month. My relative has this.

By the way, my minimum loan payment every month was like $120.

I thought we were talking CURRENT, not taking a ride in the "way back machine"......

[missy1]

Jobs are hard to come by for anyone, especially recent college graduates. They can't even put a dent in their loans. Some defer them or don't pay them. (taken out at tax time)

[missy1]

On 6/30/2014 stilltamn8r said:

On 6/30/2014 SnarkyLips said:

On 6/30/2014 missyw1 said:

Most people can't. They are usually married (with kids) and bought their first home. it's hard to pay off $1000 loan payment each month. My relative has this.

By the way, my minimum loan payment every month was like $120.

I thought we were talking CURRENT, not taking a ride in the "way back machine"......

Most loan payments are not $120/month.

[SnarkyLips]

On 6/30/2014 missyw1 said:

Most loan payments are not $120/month.

I had $63K consolidated and my loan payments were about $120 a month. I think I paid that low maybe twice. I usually paid 10x that amount a month.

[NoelSeven]

On 6/30/2014 missyw1 said:

Job are hard to come by for anyone, especially recent college grdauates. They can't even put a dent in their loans. Some defer them or don't pay them. (taken out at tax time)

I agree, Missy. A lot of my daughter's friends are drowning in student loan debt. They're all paying monthly, too, but it's still overwhelming for them.

[NoelSeven]

On 6/30/2014 SnarkyLips said:

On 6/30/2014 missyw1 said:

Most loan payments are not $120/month.

I had $63K consolidated and my loan payments were about $120 a month. I think I paid that low maybe twice. I usually paid 10x that amount a month.

You also don't live in a high-cost area. Many do.

[SnarkyLips]

On 6/30/2014 NoelSeven said:

You also don't live in a high-cost area. Many do.

That's true. When I rented a house when I first started teaching, it was only $375 a month. Again, it's just about choices. If you want to live in a high-cost area, go for it. You'll have a harder time getting out of debt, though, if you don't have a job or have a low-paying job.