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If you can't get into UNC, you might want to reconsider whether college is going to be an effective experience for you.
I wouldn't say that. UNC is a great school, and, especially if your not a North Carolina resident, pretty tough to get into. For every UNC-Chapel Hill there are a Eastern Carolina, Western Carolina, and Appalachian State. Public schools which still give a good education for those who can't get a great/top tier education.
Sure, there are also Duke and Wake Forest, but I only wanted to point out public schools that are easier to get into than UNC.
If you can't get into UNC, you might want to reconsider whether college is going to be an effective experience for you.
That is a complex debate. What % of the population can get into top 30 schools? 3 or 4 percent? I'm not sure where the line should be drawn but cutting it off at a top 5 public seems a bit much.
I think you'd need job/salary/debt data by school to try and determine a point where you get a poor return on your investment.
That's about how much I have in student loans; but I wouldn't call it the "stupidist thing I've ever done". Ten years ago, I was losing sleep and going crazy over it. Today, I'm so over it. I have a low-paying job (<$30K) and I'm currently in graduate school (so loans are deferred). If I can't find a better job, then I'm going the income-contingent route and getting them cancelled in 10 years (I work in public service).
Truth is the reason why I have this debt is because I was born into a very poor family. Without student loans, I wouldn't have been able to earn a college degree...end of story. I'm not sure why people put student loans into such a negative light. If you just shave off four new cars, a more modest house, and a few less family vacations to the Bahamas...then you have the same amount of funds that I have racked up in my "monsterous" student loan debt!
If your family was very poor, why didn't you get more in the way of grants and scholarships? I was fairly poor, and my wife was below poverty line poor when we were growing up, and we have no where near that level of student loan debt despite going out of state to an excellent college.
That's about how much I have in student loans; but I wouldn't call it the "stupidist thing I've ever done". Ten years ago, I was losing sleep and going crazy over it. Today, I'm so over it. I have a low-paying job (<$30K) and I'm currently in graduate school (so loans are deferred). If I can't find a better job, then I'm going the income-contingent route and getting them cancelled in 10 years (I work in public service).
Truth is the reason why I have this debt is because I was born into a very poor family. Without student loans, I wouldn't have been able to earn a college degree...end of story. I'm not sure why people put student loans into such a negative light. If you just shave off four new cars, a more modest house, and a few less family vacations to the Bahamas...then you have the same amount of funds that I have racked up in my "monsterous" student loan debt!
Are you taking out more loans for your grad program? I hope you or your employer are paying for it. I hope it woks out for you. That is a lot of debt.
You couldn't have gone to community college for 2 years and then to a public in-state university? I did my entire undergrad @ a public in-state university and my entire bill was around 50k which included housing and food for all 4 years.
Easy. No one would ever go to a for profit if they could get into UNC. For profits have highest student loan debt and worst job/salary results.
UNC? University of North Carolina I'm not from North Carolina,but even I know that UNC does not always mean University of North Carolina at Chapel Hill. The UNC schools vary widely in their accepted students stats.
I think your argument is totally flawed.
Quote:
Seems like a common practice here for people to exaggerate how much people owe in student loans. Here are some actual facts. The conclusion is pretty simple. The people who are getting stuck with big student loans are the same ones getting an inferior degree. That is a bad combination.
First off you said, "Here are some facts." and then you didn't state any facts.
I think a lot of people foolishly took on huge college loans thinking that it didn't matter what they majored in. I have an under-employed English major at my own house but his student loan debt is $70 a month, which he can easily pay.
As parents, we were up front with our kids when they were looking at colleges. We had a spread sheet with the actual total cost of four years, minus what we would pay and their merit aid (grants and scholarships) from the colleges. A huge culprit, IMHO, is parents who blindly co-sign student loans whose price-tag is more then the student is likely to earn in the first year of work. There are many tools out there that can help a family figure out what is an acceptable amount of debt: Debt / salary wizard
I don't think it matters where you get your degree as much as your major and the expected employment in that job sector. I wouldn't choose the University of Phoenix for my college but one can easily have the same amount of debt from there as someone that went to the University of Michigan.
UNC? University of North Carolina I'm not from North Carolina,but even I know that UNC does not always mean University of North Carolina at Chapel Hill. The UNC schools vary widely in their accepted students stats.
I think your argument is totally flawed.
I am originally from North Carolina, and UNC is basically always assumed to be UNC- Chapel Hill.
UNC? University of North Carolina I'm not from North Carolina,but even I know that UNC does not always mean University of North Carolina at Chapel Hill. The UNC schools vary widely in their accepted students stats.
I think your argument is totally flawed.
First off you said, "Here are some facts." and then you didn't state any facts.
I think a lot of people foolishly took on huge college loans thinking that it didn't matter what they majored in. I have an under-employed English major at my own house but his student loan debt is $70 a month, which he can easily pay.
As parents, we were up front with our kids when they were looking at colleges. We had a spread sheet with the actual total cost of four years, minus what we would pay and their merit aid (grants and scholarships) from the colleges. A huge culprit, IMHO, is parents who blindly co-sign student loans whose price-tag is more then the student is likely to earn in the first year of work. There are many tools out there that can help a family figure out what is an acceptable amount of debt: Debt / salary wizard
I don't think it matters where you get your degree as much as your major and the expected employment in that job sector. I wouldn't choose the University of Phoenix for my college but one can easily have the same amount of debt from there as someone that went to the University of Michigan.
UNC is the flagship and assumed if you say UNC.
The facts are right there win debt figures. If you can get into Michigan but go to UOP you might be successful because you are smart enough to get into Michigan. The problem with that is those attending for profits aren't in the same world as a Michigan student.
Top publics graduate students with around 15k. Great deal.
Great deal? In 2007 the NY Atty General's office released their investigation of the student loan industry. Some of the results were:
1. Lenders were paying kickbacks to unis based on a percentage of loan volume that the schools financial aid officers steered toward those lenders.
2. Lenders set up funds and credit lines for schools to use, in exchange for those schools putting the lenders on their preferred lenders lists.
3. Sales of student loans wiped out the back end benefits promised to students without the students ever knowing of those changes. This includes interest reduction reductions for on time payments, reductions for electronic payments, and other benefits.
In June of that same year, the US Senate released their report of the marketing practices of FFEL lenders, which not only backstopped what the NY Atty. General's report had concluded, but also showed that the student loan companies were compensating uni's financial aid departments in order to be placed on the schools preferred lender lists, they were also paying financial aid administrators directly, and that some administrators actually held stock in the same lending companies that were on their college's preferred lender lists.
And this manner of graft and corruption isn't just relegated to public unis. Several top level of private unis, such as NYU and University of Southern California, have been implicated with these very same types of scams as well.
Any amount of debt that is accrued in this environment is tainted, and so are the schools which engage in this scam and corruption. What you're doing is deceiving folks into thinking that going along with this system, no matter how corrupt or compromised, is going to lead to something good. It isn't, the quality of education has been affected as well. The book "Academically Adrift" shows that nearly 1/2 of college sophomores have learned nothing during the time that they had been in school, mostly based on the results of CLEP tests and interviews. Further nearly 1/3 of students had leaned nothing significantly more after four years.
Last edited by toobusytoday; 10-27-2011 at 01:03 PM..
Reason: Removed personal comment
I can see you are a little annoyed you aren't able to exaggerate student loan debt in his thread.
Oh really, professional degrees in medical fields. Hey Sparky why don't you compare the debt that "many professional degrees in medical fields" need and what the future prospects, based on BLS data, of those "many professional degrees in medical fields."
You can't seem to differentiate between being annoyed and being amused, and it's just funny to see the "quality" of your posts....
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If you just shave off four new cars, a more modest house, and a few less family vacations to the Bahamas...then you have the same amount of funds that I have racked up in my "monsterous" student loan debt!
