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Rental Applicants... everyone has a huge student loan.

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Rental Applicants... everyone has a huge student loan.

Old 08-27-2018, 07:12 AM
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The ease of obtaining large amounts of money through federal loan programs is the reason college is so expensive. The students can pay for it, so why not jack up the price? IMO there is an education bubble just the same way as we had a housing bubble due to bad lending practices. Unless something is done, there will be a crash.

A reasonable way to regulate it might be to tie the amount of money available in a loan to the median income for someone with that degree, 5 years out of school. Of course that will never happen.
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Old 08-27-2018, 07:15 AM
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Originally Posted by N2theblue View Post
Its the job market as much as or more than the education system.
I can only speak for the tech industry as that is the only one I have worked in but degrees are not that highly valued even at VP level. I have 53 people in my org, I would estimate about 20% of them have a degree the rest just have experience and certifications. I also don't think there are many people making less than $100K on my team.

I would never work for a company that has a hard requirement for a degree. I don't have one, I could care less to have one and I think its a rather myopic mindset to have a hard requirement on it for most jobs. Doctors, Lawyers, Scientists, Engineers (real engineers, not IT) sure you need one but for most business management and sales rolls it does not add much value. I was just in a meeting last week on developing our talent where the latest research is showing that 10% of your ability to perform your job comes from formal education 70% comes from experience and 20% comes from on job training.
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Old 08-27-2018, 07:15 AM
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Originally Posted by N2theblue View Post
Its the job market as much as or more than the education system.
I agree with you there, however it is all tied into the availability of student loans. If almost 100% of your workforce has the availability to borrow a crap load of money to get a degree, why not require it?
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Old 08-27-2018, 07:16 AM
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Originally Posted by dell30rb View Post
The ease of obtaining large amounts of money through federal loan programs is the reason college is so expensive. The students can pay for it, so why not jack up the price? IMO there is an education bubble just the same way as we had a housing bubble due to bad lending practices. Unless something is done, there will be a crash.

A reasonable way to regulate it might be to tie the amount of money available in a loan to the median income for someone with that degree, 5 years out of school. Of course that will never happen.
Declining support from public funding is more an issue than the money available in loan programs - Public colleges and universities have to make up the difference somehow when they are getting less money from the state. Its why they recruit International Students and Out of State students. Those students pay higher tuition.
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Old 08-27-2018, 07:18 AM
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Why is college so expensive. Its run by libs. Its gone up over 200% in just 20 years. Average inflation was 53% in that same time period.
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Last edited by fishingfun; 08-27-2018 at 07:24 AM.
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Old 08-27-2018, 07:23 AM
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Make sure they have a sponsor (if any millennials are offended - don't be -it's a joke)

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Old 08-27-2018, 07:27 AM
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Originally Posted by fishingfun View Post
Why is college so expensive. Its run by libs. Its gone up over 200% in just 20 years. Average inflation was 53% in that same time period.
LOL that doesn't even make sense.

Its gone up because conservatives reduced support from public funding.
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Old 08-27-2018, 07:27 AM
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This 100k amount that is thrown around for Doctors/Lawyers, etc is way off base. I lived very responsibly during school and my dental degree was 200k plus. Students coming out now are easily 400-500k in debt not to mention more and more of them are having families while in school because they know they won't be able to afford to take time off to spend with the little ones once they graduate. Guess the cost of dentistry will be going up to support this! I can't imagine the pressure they are under to produce at a high level right out of school. Many end up taking jobs in corporate offices where the are promised high salaries just to make ends meet.
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Old 08-27-2018, 07:27 AM
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NC State instate tuition per semester:

Tuition: $3267
Required Fees: $1267
Eng. fee: $750
Room: $3357
Meals: $2182
Books (est): $500

Total: $10,573 x 8 semesters = $85k (if you graduate in 4 years and take no summer classes)

That doesn't include computer, car, car insurance, cell phone bill, clothes, other living expenses, beer money, that probably add up to another ~$10k a year in expenses. I know a lot of parents and students that cover paying these expenses and then just take out loans for all the rest.

These are just the numbers for a state school. You don't want to even see the numbers for a place like Duke.
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Last edited by beber; 08-27-2018 at 07:34 AM.
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Old 08-27-2018, 07:30 AM
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Originally Posted by N2theblue View Post
LOL that doesn't even make sense.

Its gone up because conservatives reduced support from public funding.
Where the money comes from makes no difference its still gone up over 200% the past 20 years.
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Old 08-27-2018, 07:32 AM
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Originally Posted by ToothDoc1114 View Post
This 100k amount that is thrown around for Doctors/Lawyers, etc is way off base. I lived very responsibly during school and my dental degree was 200k plus. Students coming out now are easily 400-500k in debt not to mention more and more of them are having families while in school because they know they won't be able to afford to take time off to spend with the little ones once they graduate. Guess the cost of dentistry will be going up to support this! I can't imagine the pressure they are under to produce at a high level right out of school. Many end up taking jobs in corporate offices where the are promised high salaries just to make ends meet.
Yeah, depends on the school, 100k is definitely low end.

UNC Dental Program is estimated at $210k for all 4 years.
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Old 08-27-2018, 07:34 AM
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How about 4yrs. of private college, 1yr. Master's degree, 4yrs. medical school, not to mention an apt. , food,ins., car etc etc. Totals easily over 500k, Then internship where she finally get paid (40k) and now a residence which will be 3yrs at the same 40k, I took care of the ;whole shebang having promised her that if she gets into med. school (no easy task) I'll support her. I have no regrets and am proud as can be of her.
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Old 08-27-2018, 07:35 AM
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Originally Posted by fishingfun View Post
Where the money comes from makes no difference its still gone up over 200% the past 20 years.
When comparing apples to oranges it definitely makes a difference. You can't compare tuition costs apples to apples because tuition costs have gone up to account for less public money. So direct cost to students isn't really a good comparison. Now if you want to dig in and figure out exactly what percentage comes from what, feel free.
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Old 08-27-2018, 07:36 AM
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Originally Posted by skindr View Post
How about 4yrs. of private college, 1yr. Master's degree, 4yrs. medical school, not to mention an apt. , food,ins., car etc etc. Totals easily over 500k, Then internship where she finally get paid (40k) and now a residence which will be 3yrs at the same 40k, I took care of the ;whole shebang having promised her that if she gets into med. school (no easy task) I'll support her. I have no regrets and am proud as can be of her.
Outstanding!
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Old 08-27-2018, 07:42 AM
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Originally Posted by N2theblue View Post
Out of curiosity, how old are you? Except for skilled trade jobs (like a machinist, plumber electrician) every job posting out there wants at least a 4 year degree. Even receptionist job postings often have 4 year degree requirements. College remains the single best way to pull oneself out of poverty so saying people shouldn't go to college if they can't afford it is bullshit.

30k in student loan debt at 32 is nothing. Especially if someone went to grad school, or struggled finding a full-time job after graduation. Student loan lenders generally allow one to defer payments until you get a full time job. With interest rates where they are, its not so bad. Somewhere between $150 and $300 a month probably. Lawyers and doctors routinely come out with 100k plus in debt.

Things are a lot different than they were even 15 years ago when I was in college. I came out with ~25k from undergrad and ~25k from grad school. And I had lots of scholarships and grants, and worked. Still had to borrow.
I'm 36. I came out with 6k for undergrad. 3k for grad which I never finished.
I did a summer and one semister st a CC. Once I saw the costs I took as many classes as I could and transferred them over. When I say I graduated with honors no one asks if I took 6 classes at a CC.
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Old 08-27-2018, 07:55 AM
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have a friend whose just gotten out of law school, he’s 37 now no kids no wife no car and between him and his dog needs $5k worth of dental work

his monthly Payment is supposed to be $2800!! WTF
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Old 08-27-2018, 07:58 AM
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Originally Posted by beber View Post
NC State instate tuition per semester:

Tuition: $3267
Required Fees: $1267
Eng. fee: $750
Room: $3357
Meals: $2182
Books (est): $500

Total: $10,573 x 8 semesters = $85k (if you graduate in 4 years and take no summer classes)

That doesn't include computer, car, car insurance, cell phone bill, clothes, other living expenses, beer money, that probably add up to another ~$10k a year in expenses. I know a lot of parents and students that cover paying these expenses and then just take out loans for all the rest.

These are just the numbers for a state school. You don't want to even see the numbers for a place like Duke.
half of that is room and board. Live at home and it is much less. Working part time might even be able to pay for most of it.
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Old 08-27-2018, 08:00 AM
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i did the same thing for my kid that my dad did to me, paid for some of his college, made him take out loans for the balance. upon graduating let him pay the loans for about a yr to let him know the value of money and not to have too much debt and then took over the loans myself and have paid them off.
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Old 08-27-2018, 08:12 AM
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Originally Posted by barrell View Post
It is the parents responsibility to pay for their childrens education. In some cases the poarents dont have it but in some the parents are to freekin cheap and irresponsible to pay it.
That is purely YOUR OPINION and you are welcome to voice it...
But a hell of a lot of us TOTALLY disagree.... Nothing to do with cheap, and everything to do with learning responsibility.... At 19 years old, (like a lot of other people on here) I was leading a squad in combat.... My education was paid for with the GI Bill... Wouldn't ask my father for a nickel, I figure my parents already did all they could for me, and I was a responsible, grown man...
So, tell me, do these millennials still living at home have a curfew?
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Old 08-27-2018, 08:18 AM
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Originally Posted by ToothDoc1114 View Post
This 100k amount that is thrown around for Doctors/Lawyers, etc is way off base. I lived very responsibly during school and my dental degree was 200k plus. Students coming out now are easily 400-500k in debt not to mention more and more of them are having families while in school because they know they won't be able to afford to take time off to spend with the little ones once they graduate. Guess the cost of dentistry will be going up to support this! I can't imagine the pressure they are under to produce at a high level right out of school. Many end up taking jobs in corporate offices where the are promised high salaries just to make ends meet.
That is a great post. In my experience with the ability of folks to get student loans 15 dental schools have opened up in recent years and 3 more are on the way. Unfortunately you are right, sometimes new grads get under tremendous pressure to produce even just to keep their jobs at some of the places where they find work. I don't see the cost of dentistry going up, with tourist dentistry and lots of new dentists I see the cost going down, which places those with 400 to 550k loans in a difficult position.
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