Forehead Posted October 26, 2011 Share Posted October 26, 2011 None for undergrad, parents had done well with college fund, so I was in the clear, and I went to a pretty inexpensive state school. I finished my MBA with around $50,000 in debt, some of it on purpose. Each semester, I was given more than I needed to cover tuition and books, about $2,500 each semester for six semesters. So my debt could have been more like $35,000, but my wife and I sat down, went over the numbers, and decided to keep the extra each semester, which we used to do things like fixing up our house, paying off our car, etc. Sure, it's a load, and I dislike the interest rate being over 6%, but it's pretty easily managed, and we'll pay it off as early as we can. The extra money helped out at the time. Unfortunately, when I started school, my contracting company only contributed $1,000 per year, and the government agency I got hired by covers no school related expenses until you've been with them for 3 years, so I was finished before that occurred. So we've had to take on the loans with no assistance, but like I said, we can manage them. Edit* To echo what Corcaigh just said, I'm paying it forward as best I can...we already have a college fund started for our first child and will be doing the same for our second. Hopefully they'll be able to get through undergrad without debts. If they don't go to college, daddy will get his midlife crisis car. Link to comment Share on other sites More sharing options...
Special K Posted October 26, 2011 Share Posted October 26, 2011 My parents were kind enough to pay for my undergrad for me. Graduate school took 3.5 years for a dual masters and I'm approximately 130k in debt. My husband had to pay for his undergrad. and masters programs through student loans. He is approximately 120k in debt. So, we're totally screwed. That being said, we're both going to be pursuing doctoral degrees, me w/i the next 3 years, him after 2016. At this point, I don't even care. I'm so discouraged, I've resigned myself to probably never owning a home, maybe when we're 60, and working the rest of my life. Oh well, at least I'm pursuing what I want to do and am happy with my job. Link to comment Share on other sites More sharing options...
PleaseBlitz Posted October 26, 2011 Share Posted October 26, 2011 I had zero debt from undergraduate thanks to work, some parent funding, and scholarships. Post grad was funded by grants, so no debt from that either.My kids will have zero undergraduate debt thanks to their dad. Ever consider adoption? Me, for instance. Link to comment Share on other sites More sharing options...
I_Bleed_B&G Posted October 26, 2011 Share Posted October 26, 2011 I didn't have much coming out of school. Have about 5k still left to pay off. However my wife has about 200k just from med school. She is currently in residency. Her parents paid her undergrad. yippie!!! Link to comment Share on other sites More sharing options...
NavyDave Posted October 26, 2011 Share Posted October 26, 2011 None. Parents and Grandparents established a college fund (nice to have been 1st born and 1st grandchild) and I also had the GI Bill Link to comment Share on other sites More sharing options...
warren Posted October 26, 2011 Share Posted October 26, 2011 My parents were kind enough to pay for my undergrad for me. Graduate school took 3.5 years for a dual masters and I'm approximately 130k in debt. My husband had to pay for his undergrad. and masters programs through student loans. He is approximately 120k in debt. So, we're totally screwed. That being said, we're both going to be pursuing doctoral degrees, me w/i the next 3 years, him after 2016. At this point, I don't even care. I'm so discouraged, I've resigned myself to probably never owning a home, maybe when we're 60, and working the rest of my life. Oh well, at least I'm pursuing what I want to do and am happy with my job. Now this is depressing Link to comment Share on other sites More sharing options...
AsburySkinsFan Posted October 26, 2011 Share Posted October 26, 2011 Between 90-100k, private undergrad and then five years of seminary. No scholarships since I wasn't a straight A student as I had a family while I was in school. In the end I loom at it like this, without my college education I would not be able to do what I do, and while my debt is large I know that over my lifetime it will balance out and as a result my children will be better off because I will be in a better position to provide for them. As for some debt relief, yeah that would be nice. So everyone can blame me for the ills of America. Link to comment Share on other sites More sharing options...
HOF44 Posted October 26, 2011 Share Posted October 26, 2011 I went in state from 1982 through 1987, tuition was about 1200 a year when I started and about 2500 a year by the time I finished. College fund from parents paid for it. Plus I chose to stay at home rather than live on campus which also kept me out of debt. Link to comment Share on other sites More sharing options...
renaissance Posted October 26, 2011 Author Share Posted October 26, 2011 I went in state from 1982 through 1987, tuition was about 1200 a year when I started and about 2500 a year by the time I finished. College fund from parents paid for it. Plus I chose to stay at home rather than live on campus which also kept me out of debt. **** me that's depressing. Link to comment Share on other sites More sharing options...
HOF44 Posted October 26, 2011 Share Posted October 26, 2011 **** me that's depressing. It's getting to the point with some of these numbers being thrown about that it just makes no sense long term to create that much debt for school. Earn less have more so to speak. Link to comment Share on other sites More sharing options...
Darth Tater Posted October 26, 2011 Share Posted October 26, 2011 For those at either end of the spectrum, I'm interested to know how/why you incurred so much or so little...Prosperity - where the hoot did you go for undergrad?? When I did my college back in the day, most people who went into big debt to get a degree with either stupid or lower middle class (poor but not poor enough). In today's money, undergrad tuition for one year where I went was about 10K (if I'd been a citizen of that state it would have been about $1200.00) not including books and incidentals. Pretty much mine came from being stupid but not as stupid as others who used their parents college funds to tool around Europe and paid for college with loans. Link to comment Share on other sites More sharing options...
Special K Posted October 26, 2011 Share Posted October 26, 2011 Now this is depressing It's okay, it's the path we both have chosen. My attitude is to just plod on, work hard, and pursue a career that fulfills me, not necessarily one that makes the most money. It is a bit discouraging however, to work in public health and see the number of people who truly do abuse the system, then have ignorant people insinuate, or outright state, that because you are happy about this potential student debt relief plan that would effectively lower our monthly payments and give us a little more flexibility to pay down other bills, we: 1. pissed away our college and post grad careers partying 2. chose underwater basket weaving as our majors instead of business 3. and are a burden to our society. That type of attitude that has become so pervasive in our society is more discouraging to me than my student loan bills. Link to comment Share on other sites More sharing options...
renaissance Posted October 26, 2011 Author Share Posted October 26, 2011 It's getting to the point with some of these numbers being thrown about that it just makes no sense long term to create that much debt for school. Earn less have more so to speak. Except that unfortunately as keeastman describes, it's not always about earning more money. I chose a grad program which will help me earn more in my field, but I will never make as much as some of my friends who work in other, more lucrative fields. Unfortunately, the cost of our college and grad degrees was pretty much the same despite our future earning potentials. Link to comment Share on other sites More sharing options...
Bang Posted October 26, 2011 Share Posted October 26, 2011 None. I paid my own way later in life. I didn't and am not pursuing any degrees, and the fact is, if I had to do it over again, I'd never have spent the money. In my field, know-how is good, and can be learned from a million different sources. But what makes me my money is creativity. I think in ways others don't. And no school taught me that. ~Bang Link to comment Share on other sites More sharing options...
Pick6 Posted October 26, 2011 Share Posted October 26, 2011 It's getting to the point with some of these numbers being thrown about that it just makes no sense long term to create that much debt for school. Earn less have more so to speak. Well I don't know if that is true. I understand what your saying, but on average over a lifetime a person with a college degree will earn a million dollars more than someone with only a high school diploma. Now if you finish school with $100K in debt than you're still $900K ahead over your lifetime. Nothing is guaranteed, but at least in this country life is probably easier with a college degree. http://howtoedu.org/college-facts/how-much-more-money-do-college-grads-make/ Link to comment Share on other sites More sharing options...
I_Bleed_B&G Posted October 26, 2011 Share Posted October 26, 2011 It's okay, it's the path we both have chosen. My attitude is to just plod on, work hard, and pursue a career that fulfills me, not necessarily one that makes the most money. It is a bit discouraging however, to work in public health and see the number of people who truly do abuse the system, then have ignorant people insinuate, or outright state, that because you are happy about this potential student debt relief plan that would effectively lower our monthly payments and give us a little more flexibility to pay down other bills, we: 1. pissed away our college and post grad careers partying 2. chose underwater basket weaving as our majors instead of business 3. and are a burden to our society. That type of attitude that has become so pervasive in our society is more discouraging to me than my student loan bills. Can't you take advantage of IBR right now and then qualify for PSLF after 10 yr of payments? This has been out for a while now for people in the public health field Link to comment Share on other sites More sharing options...
RichmondRedskin88 Posted October 26, 2011 Share Posted October 26, 2011 I'm finishing in December with about $1200 due to my job and my job's scholarship. And some assistance from my parents when things got too tight. depending on whether I do graduate school this amount will change lol. Link to comment Share on other sites More sharing options...
Darth Tater Posted October 26, 2011 Share Posted October 26, 2011 Less than 100 years ago, most businessmen could not conceive of a time when most positions would require at least an undergrad. In fact, a couple of businessmen interviewed at that time, would put degreed individuals at the bottom of their stack. Link to comment Share on other sites More sharing options...
greenspandan Posted October 26, 2011 Share Posted October 26, 2011 my parents were excellent planners. Link to comment Share on other sites More sharing options...
HOF44 Posted October 26, 2011 Share Posted October 26, 2011 Except that unfortunately as keeastman describes, it's not always about earning more money. I chose a grad program which will help me earn more in my field, but I will never make as much as some of my friends who work in other, more lucrative fields. Unfortunately, the cost of our college and grad degrees was pretty much the same despite our future earning potentials. I guess the environment that I came from, my family all looked at education as a way to better yourself financially. I hear and understand all the stuff about getting a job you love and looking forward to going to work everyday. But I was brought up to see a job as a means to an end. My parents saved and made sure I could go to school so I would have an easier time having a stable financial future. So that's where I come at things from. I don't have a job I hate, it's not my dream of what I would want to do everyday if money was no factor either. I guess I just don't understand taking on so much as to not be able to afford a house or car I want for public service. As I always say though, to each his own, and their experiences that I'm not aware of formed their outlook on life and are completely valid to them. Link to comment Share on other sites More sharing options...
renaissance Posted October 26, 2011 Author Share Posted October 26, 2011 I guess the environment that I came from, my family all looked at education as a way to better yourself financially. I hear and understand all the stuff about getting a job you love and looking forward to going to work everyday. But I was brought up to see a job as a means to an end. My parents saved and made sure I could go to school so I would have an easier time having a stable financial future. So that's where I come at things from. I don't have a job I hate, it's not my dream of what I would want to do everyday if money was no factor either. I guess I just don't understand taking on so much as to not be able to afford a house or car I want for public service. As I always say though, to each his own, and their experiences that I'm not aware of formed their outlook on life and are completely valid to them. Well if nobody chose service over salary then society would be pretty ****ed Link to comment Share on other sites More sharing options...
HOF44 Posted October 26, 2011 Share Posted October 26, 2011 Well I don't know if that is true. I understand what your saying, but on average over a lifetime a person with a college degree will earn a million dollars more than someone with only a high school diploma. Now if you finish school with $100K in debt than you're still $900K ahead over your lifetime. Nothing is guaranteed, but at least in this country life is probably easier with a college degree.http://howtoedu.org/college-facts/how-much-more-money-do-college-grads-make/ Then whats everybody ****ing about????? ---------- Post added October-26th-2011 at 03:35 PM ---------- Well if nobody chose service over salary then society would be pretty ****ed The wages paid for service workers would increase if there job product was truly missed. Link to comment Share on other sites More sharing options...
TheGoodBits Posted October 26, 2011 Share Posted October 26, 2011 Just got my bill. Built up nearly $20k despite living off-campus the last year and working, plus my parents were kind enough to pay for my meal plan and tuition each year. That's right. Tuition was covered from their prepaid tuition program they had been paying into for about a decade, they paid for my meals, and I still owe $20k from an in-state school. I'm lucky though because it could have been $50k easily. Link to comment Share on other sites More sharing options...
Jeeb Posted October 26, 2011 Share Posted October 26, 2011 25k but I've got zero interest, i got off pretty lucky having a decent enough paying monkey job while in school (still working there) Link to comment Share on other sites More sharing options...
AsburySkinsFan Posted October 26, 2011 Share Posted October 26, 2011 At this point, I don't even care. I'm so discouraged, I've resigned myself to probably never owning a home, maybe when we're 60, and working the rest of my life. Oh well, at least I'm pursuing what I want to do and am happy with my job. Katie, it is like you took the words right from my mouth, my wife and I have given up owning a home until after we retire, fortunately most churches have a parsonage because without a parsonage we'd never make it trying to pay these things off. It sucks too because I hear stories about parents and college funds and it really does get depressing knowing when I turned 18 there was zero money for my education, and when I finally did go to school I had been on my own for three years so I was no longer a dependent so student loans were my only option. The scholarships were a joke $100 here $150 there barely paid for my books. At the end of my 10 years I had finally resigned myself to the reality that I will be paying on these things for the majority of my adult life and if they are ever "forgiven" from IBR I won't complain for an instant, and I know people will resent me for that but you walk in my shoes and you can complain about the way I walk. Link to comment Share on other sites More sharing options...
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