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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.
Quote:
Debt to Degree also reveals big differences within sectors. Within the four-year institutions sector, for example, the average borrowing to credential ratio at public four-year universities was $16,247 and $21,827 at private nonprofit colleges and universities.
In contrast, it was $43,383 at for-profit universities. For-profit colleges also have higher borrowing to credential ratios among two-year and less-than-two-year institutions.
When I graduated in 2000, I believe I owed about $25K-$30K and I have an engineering degree. I didn't get loans until my 3rd year of school though. Fortunately I have paid back these loans and don't miss paying the bills at all!
I will graduate with my degree (RN) this December and I will have 28K in loans. It is what it is. Yes, I owe money, but I have not only a great education, but a degree I can actually use. So, I guess I'm not included in their stats?
I came out of dental school well below $170K with all undergrad and graduate school loans, and that's good! I originally thought that was alot of money, but after talking to some of my friends, especially the ones who are from out of state, holy crap are they in debt. Go ahead and google it, google the most expensive dental schools in the United States. NYU comes in first, I think somewhere like $101K/year, that's including tuition, books, fees, living expenses, etc..... And let me tell you another little secret too, if you were to go back and ask most students who are in graduate school (medical, dental, vet, podiatry) and ask them what they would've done differently, most would say they wouldn't have gone to a big expensive undergrad college. I've known quite a few people in those types of graduate programs that regret having spent all that money knowing full well that most of the courses they took didn't help them out. Crazy world we live in.
The university I attend is pretty cheap, about $6,000 a semester, so about $12,000 a year, plus summer semesters, so about $18,000 a year, add living expenses an books, so about $30,000 a year, add out of state tuition for the first two years = another $18,000 a year for the first two years. So, let's see (I have dyscalculia so my math may be way off... someone correct me if it is) $48,000 for two years = $96K + $36 for the year and a half of grad school = $132K? Yeah, that seems about right. I've had to live on my student loans for the past four years because there are no (repeat, no) jobs around here that pay a living wage.
The university I attend is pretty cheap, about $6,000 a semester, so about $12,000 a year, plus summer semesters, so about $18,000 a year, add living expenses an books, so about $30,000 a year, add out of state tuition for the first two years = another $18,000 a year for the first two years. So, let's see (I have dyscalculia so my math may be way off... someone correct me if it is) $48,000 for two years = $96K + $36 for the year and a half of grad school = $132K? Yeah, that seems about right. I've had to live on my student loans for the past four years because there are no (repeat, no) jobs around here that pay a living wage.
The university I attend is pretty cheap, about $6,000 a semester, so about $12,000 a year, plus summer semesters, so about $18,000 a year, add living expenses an books, so about $30,000 a year, add out of state tuition for the first two years = another $18,000 a year for the first two years. So, let's see (I have dyscalculia so my math may be way off... someone correct me if it is) $48,000 for two years = $96K + $36 for the year and a half of grad school = $132K? Yeah, that seems about right. I've had to live on my student loans for the past four years because there are no (repeat, no) jobs around here that pay a living wage.
You're pocketing all those expenses? What about scholarships, sponsorships, merit grants, and financial aid?
A lot of the people I know with student loan debt never actually graduated. How would that factor in to this calculation?
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