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#235 - amonahan
Reply 0
(04/26/2014) [-]
If someone in a political position were make it so that the first 4 years of post secondary were free, however to further your studies would be the same price as it is now, how would you feel about this?
#231 - headlesspoodle
Reply -1
(04/26/2014) [-]
my tuition is 122k, i've gotten 50k in student loans and only 5k in federal aid, and they only give you 10 years to pay off your debt
my tuition is 122k, i've gotten 50k in student loans and only 5k in federal aid, and they only give you 10 years to pay off your debt
#237 to #231 - freakanator
Reply 0
(04/26/2014) [-]
what happens if you don't pay after 10 years?
#276 to #237 - headlesspoodle
Reply 0
(04/27/2014) [-]
i'll be ****** and i'll have to fake my own death
#242 to #237 - satansferret
Reply 0
(04/26/2014) [-]
They pretty much sell your debt to another company who will take turns threatening you with court/ reducing debt if you pay it off in a short amount of time or all at once (and this repeats over and over and over) . Your credit goes to **** and they may try to garnish your wages.
#277 to #231 - apurpleliger
Reply 0
(04/27/2014) [-]
The system isn't broken, you went to a school that was too expensive for you.
#283 to #231 - apurpleliger
Reply 0
(04/27/2014) [-]
I'm going to a school with a 4-year cost of <$100k, and that's living on campus all four years, not including any scholarships. With the right degree, that can easily be paid off in 10 years, not including working during college or taking semesters off to work. Even a degree in something like music or education can pay that off in 10 years.
#284 to #283 - headlesspoodle
Reply 0
(04/27/2014) [-]
not as easy as you may think, for the average american attending college they'll most likely be working a half time minimum to ten dollar wage job so keeping up with payments isn't going to be as easy as you think because now you'll have interest building up. also you'll probably have support from family, but for students like myself we don't exactly have that luxury. now we get to after we graduate, what happens if you don't exactly succeed in the career you wanted and don't forget about the cost of living after you out of school, so paying of your debt could take longer then you think. sorry about the long reply
#286 to #284 - apurpleliger
Reply 0
(04/27/2014) [-]
What degree are you going for/did you get?
#285 to #284 - apurpleliger
Reply 0
(04/27/2014) [-]
Assuming that the entire $100k is taken out as a loan in the first year of college, with a fixed rate of 4% ( You need to login to view this link ), that would equate to $117k owed at graduation. That's not counting work of any sort and again getting all of the money the first year, which I believe is the most expensive option interest wise. At the end of the ten years from the loan's original date, you would owe approximately $148k. Again assuming none of it is payed off until that date. Since interest rates are based on the amount still owed, it should not ever be anywhere near $150k. This is again not counting coming in with any money, federal aid/scholarships, or paying any of that off during your four years of college. That debt after 10 years should be around $120k total paid out at maximum. That's still less than tuition for your university. Unless I did my math wrong, you were able to pay off roughly $67k of your tuition yourself. Let's drop that down to $50k coming in and factor that into the equation. Now you're looking at a $50k student loan. That's $58k after you graduate and $74k at the end of the 10 years. Either way it can be done, whether in the chosen profession or in a low-skilled labor job. Welding, for example, can be taken up without a degree and could easily pay off either of those debts in the 6 years after college. It's still a lot of money and you will have to live frugally for those 6 years, but it can most definitely be done, especially if you did get a degree in a decently-paying profession. Sure, a private school teacher would struggle with the first option, but even then it can still be done. Also living off campus, at least in my case, cuts costs down by about 6 grand each year. I'm not going to do the math again, but starting at $76k for 4 years of tuition makes that debt a whole hell of a lot easier to manage.
#225 - lemongrabble ONLINE
Reply 0
(04/26/2014) [-]
#126 - tiredofthis
Reply 0
(04/26/2014) [-]
I went to technical school. Pay about 300-400 buck a semester and I'm almost certainly going to have a job when I get out.

Feels good man.
#115 - ancano ONLINE
Reply 0
(04/26/2014) [-]
i'll graduate with about 12,000. people are bitches i guess
#72 - walhor
Reply 0
(04/26/2014) [-]
74,000 dollars?!
#63 - anon
Reply 0
(04/26/2014) [-]
lol we had a huge demonstration in luxembourg yesterday because they wanted to reduce the money that is given to students to be able to attend a university was lowered by more than half. there were like 4, 5 schools involved, **** ton of people
#36 - sursum
Reply 0
(04/26/2014) [-]
I feel as if a major factor in poverty for young people is that they have kids far too early, before they can realistically handle the financial stress, its always the indebted young family with like 6 kids.
#62 to #36 - amuzen
Reply 0
(04/26/2014) [-]
Well for me its because (Or would be if not for various financial aids I received from personal reasons) a full times jobs annual amount is about 23k, a year of rent is 8.4k, a years food is 1.8k, a years tuition is 12k, a years household expenses is 2k, a years school supplies is 1.5k (special its more than usual for my kind of program since I needed an art tablet, a computer strong enough to run Zbrush, and 8 different 50 dollar books)
meaning even if I was working 8 hours a day on top of the 8 hours of school I have every day and 2 hours of commute (which is unrealistic since then i would only have 6 hours for sleep +any commute time for work and taking care of the house+my schools time tables are super erractic so it would be hard to find a job that could let me work full time in the first place) I would still only be making 23k a year and spending 26k a year on basic upkeep not counting any luxuries like games, trips out of town, internet, cellphone, christmas presents, clothes, etc.

like, it's just not realistic for people to go through all of college without either going into debt or turning to some external source of income like family, financial aid or debt.
#80 to #62 - sursum
Reply 0
(04/26/2014) [-]
I'm aware of the financial stress of college, which s why I question the intellect of those who have a kid or multiple kids without ensuring the financial means to support it.
#32 - thebluejakel
Reply 0
(04/26/2014) [-]
Thank god i got the GI Bill for school, I'd never want to do ******* student loans.
#21 - anon
Reply 0
(04/26/2014) [-]
i never bothered with college and i make 35k a year thats good enough for me
#26 to #21 - anon
Reply 0
(04/26/2014) [-]
Thats not very much
#30 to #21 - fisttourface
Reply 0
(04/26/2014) [-]
Thats enough to live a meh single life or a poor life with a family.
#43 to #30 - charagrin
Reply 0
(04/26/2014) [-]
Depends on where you are located, here in Maine I was making 32K a year while going to college, and I have a family. I also own 2 homes, 2 cars, an ATV, a boat, etc. maybe not the most expensive options, but I have them. Of course in NY city, 32k wouldn't get you an apartment, let alone everything else needed just to survive. hence why I said depends on where you are located.
#255 - osamathemamalama
Reply -1
(04/26/2014) [-]
#33 - chody
Reply -1
(04/26/2014) [-]
$18,000 worth of school loans, got a job where I end up working half the year and make about $65,000 not including bonuses or my great benefits