The Democrat Utopia

[BigRedBuster]

Maybe there is someone on here that can answer this. I hear about people who get out of college with 100,000 debt for a four year degree. 
 

How and why?

 

I have three kids just about to graduate from college. We’ve had this discussion and even if we weren’t helping them at all, they wouldn’t have anywhere close to that fir under grad. 

[Archy1221]

7 minutes ago, RedDenver said:

Looking at the local state school: currently $31,034/year to attend CU-Boulder and the estimated 4 year cost of attending is $124,136. That's for in-state costs. Out-of-state costs are estimated to be $240,392.

Colorado State online is $8400 for tuition, Colorado State in person $11,400, Adam’s state $9,400 for tuition,  Fort Lewis $8,800.  So majority of college instate cost is living expenses.   On line classes eliminate that expense if living at home or don’t add to an expense already being occurred if they live on their own.  
 

Grub hub and Door dash drivers can make $15-20 per hour after expenses (my son did this for. 1 1/2 years in HS so the dollar amounts aren’t made up).  
 

Doing a job like that brings in $12,600 working 20 hours a week, with  1 1/2 months off.  More than enough to pay for tuition if living at home and half of what it costs to live and take classes on campus.  That would leave $48,000 without a single scholarship (which is hard to not get a single one) or a single need based grant or taking on line classes and graduating early to not pay the full four years of living expenses and graduate early.   If someone can’t pay off a $48,000 (maximum loan) over the course of ten years, how will they ever pay back a $300,000 mortgage? 
 

And don’t go to school out of state if you can’t afford it.  Plenty of in state options. 

[Archy1221]

8 minutes ago, BigRedBuster said:

Maybe there is someone on here that can answer this. I hear about people who get out of college with 100,000 debt for a four year degree. 
 

How and why?

 

I have three kids just about to graduate from college. We’ve had this discussion and even if we weren’t helping them at all, they wouldn’t have anywhere close to that fir under grad. 

I have one out who is debt free because of work, scholarships, and mom and dad help.  The second one will be debt free from work and scholarships.  Both go to a state school.  And both have or will soon have degrees that provide a pathway to in demand good paying jobs post schooling.  Personal choices they both made.  So I definitely agree with you.  

[RedDenver]

 

6 minutes ago, Archy1221 said:

Colorado State online is $8400 for tuition, Colorado State in person $11,400, 

Colorado State is currently $26,935/year in-state with an estimated 4 year cost of $107,740.

[Jason Sitoke]

1 minute ago, RedDenver said:

 

Colorado State is currently $26,935/year in-state with an estimated 4 year cost of $107,740.

He’s saying tuition alone. His number is correct. 

[nic]

6 hours ago, funhusker said:

I guess I’m not watching the right news outlets.  I’ve never seen nor heard a politician promote policies to not arrest and prosecute violent criminals.

 

Now if she were to cheer as the police recklessly kill him while he is in custody, you might be able to make a point.

 

 

Really? Well they will all have to report it eventually.

[Archy1221]

2 minutes ago, RedDenver said:

 

Colorado State is currently $26,935/year in-state with an estimated 4 year cost of $107,740.

We are both correct.  I listed tuition cost and then said over half of the total cost is actually living expenses and not the cost of the schooling.   The living expenses can be reduced in a few ways.  

[BigRedBuster]

13 minutes ago, Archy1221 said:

Colorado State online is $8400 for tuition, Colorado State in person $11,400, Adam’s state $9,400 for tuition,  Fort Lewis $8,800.  So majority of college instate cost is living expenses.   On line classes eliminate that expense if living at home or don’t add to an expense already being occurred if they live on their own.  
 

Grub hub and Door dash drivers can make $15-20 per hour after expenses (my son did this for. 1 1/2 years in HS so the dollar amounts aren’t made up).  
 

Doing a job like that brings in $12,600 working 20 hours a week, with  1 1/2 months off.  More than enough to pay for tuition if living at home and half of what it costs to live and take classes on campus.  That would leave $48,000 without a single scholarship (which is hard to not get a single one) or a single need based grant or taking on line classes and graduating early to not pay the full four years of living expenses and graduate early.   If someone can’t pay off a $48,000 (maximum loan) over the course of ten years, how will they ever pay back a $300,000 mortgage? 
 

And don’t go to school out of state if you can’t afford it.  Plenty of in state options. 

[funhusker]

5 minutes ago, nic said:

Really? Well they will all have to report it eventually.

I’d love to see what you’re referring to.

[JJ Husker]

16 minutes ago, BigRedBuster said:

Maybe there is someone on here that can answer this. I hear about people who get out of college with 100,000 debt for a four year degree. 
 

How and why?

 

I have three kids just about to graduate from college. We’ve had this discussion and even if we weren’t helping them at all, they wouldn’t have anywhere close to that fir under grad. 

I don’t think it’s too far out of the question. My daughter graduated UNL last December. Out of state tuition plus room & board and books….it could easily come to $100k in debt in 4 years if little was paid along the way and no schollies were involved. Luckily she graduated in 2.5 years, had some good scholarships and we still had to pay roughly $20k per year along the way. She didn’t qualify for much on student loans, they were quick to put the cost on her parents. If we were poor and there were no schollies, I can easily see how a $100k student loan debt could be racked up. Of course, if that was the case, I’m not sure why someone wouldn’t opt for a much cheaper education. It can easily be done for much less than that but it might take some settling that some people might not choose.

[BigRedBuster]

4 minutes ago, JJ Husker said:

I don’t think it’s too far out of the question. My daughter graduated UNL last December. Out of state tuition plus room & board and books….it could easily come to $100k in debt in 4 years if little was paid along the way and no schollies were involved. Luckily she graduated in 2.5 years, had some good scholarships and we still had to pay roughly $20k per year along the way. She didn’t qualify for much on student loans, they were quick to put the cost on her parents. If we were poor and there were no schollies, I can easily see how a $100k student loan debt could be racked up. Of course, if that was the case, I’m not sure why someone wouldn’t opt for a much cheaper education. It can easily be done for much less than that but it might take some settling that some people might not choose.

Why go out of state?  

[Archy1221]

5 minutes ago, BigRedBuster said:

Why go out of state?  

One other component to this eliminate school debt discussion is that just under half of all loan debt is for graduate school loans.   Why should we be subsiding graduate school?   
 

I understand why people would want some of those degrees, but at that point in life, they definitely should be aware of the costs and the potential monetary benefit before deciding to take those loans.  

[JJ Husker]

1 minute ago, BigRedBuster said:

Why go out of state?  

People could have all kinds of different reasons   A specific school specialty, get further away from home, different experiences. Some states offer pretty enticing scholarships for out of state students. Lots of reasons. In our case, it was the business college and actuarial track at UNL and both her parents attended UNL so we were comfortable with it and could afford it.

 

To be clear I’m not saying many of those reasons are worth running up that kind of debt when there are less costly options. I’m just saying it could easily happen. Hell with the way things are going, it might be worth rolling the dice and hope your student debt is forgiven. I mean that has been the talk.

[NM11046]

17 minutes ago, JJ Husker said:

I don’t think it’s too far out of the question. My daughter graduated UNL last December. Out of state tuition plus room & board and books….it could easily come to $100k in debt in 4 years if little was paid along the way and no schollies were involved. Luckily she graduated in 2.5 years, had some good scholarships and we still had to pay roughly $20k per year along the way. She didn’t qualify for much on student loans, they were quick to put the cost on her parents. If we were poor and there were no schollies, I can easily see how a $100k student loan debt could be racked up. Of course, if that was the case, I’m not sure why someone wouldn’t opt for a much cheaper education. It can easily be done for much less than that but it might take some settling that some people might not choose.

I remember when you were taking her to visit campus!  Crazy that she's already done - congrats to her!

[RedDenver]

29 minutes ago, Jason Sitoke said:

He’s saying tuition alone. His number is correct. 

I didn't say his number was wrong. I'm pointing out the total costs because tuition is only a part.

 

28 minutes ago, Archy1221 said:

We are both correct.  I listed tuition cost and then said over half of the total cost is actually living expenses and not the cost of the schooling.   The living expenses can be reduced in a few ways.  

There could be ways to reduce some of the costs, for sure. But I'm showing that a 4 year degree can easily cost $100k even going to the in-state public school.

 

I don't think we should just shrug our shoulders about it and make high schoolers (or adults for that matter) decide between not going to college unless their parents are affluent enough or taking on loads of debt.