Student loans
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mindserve wrote:
Guess tuition is low enough in India
where everyone can afford it. Well, almost everyone.Well the ones that can afford internet are those that could afford the fees too I guess. The other 70% who don't have electricity, regular meals, or a roof above their head, well do they even count in these online discussions?
Regards, Nish
My technology blog: voidnish.wordpress.com You've gotta read this : Using lambdas - C++ vs. C# vs. C++/CX vs. C++/CLI
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I'm not "struggling" to pay them, but I graduated with something like $25K in student loans (when I was 21). I'm on the graduated repayment plan, so the amount I pay each month increases something like every 2 years. That means my monthly payment will grow over time, but so will my salary. Once my car is paid off (in about a year), I should be able to start paying off my debts faster than the minimum amount required. I expect I'll have all my debts (student loans, car, credit cards, credit lines) paid off by the time I'm 31 (perhaps sooner, depending on how my salary changes).
Somebody in an online forum wrote:
INTJs never really joke. They make a point. The joke is just a gift wrapper.
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The taxpayer only has to pay it back on federal loans. Private student loans the lenders take the burden. But even on a student loan that was federally backed the government makes money when the loan defaults. They capitalize the interest on the loan and most end up paying it back, and the government for decades. Sometimes for life.
The point is, pick something you enjoy that pays decent wages. It is one of those parts in life that suck but most successful people go through. Most of us have car payments, mortgages and bills and such. You want a better job, you will need education. You can also find a job where they have education benifits, I've paid a good chunk of mine that way (About 30%-40%) I know there are those who are successful without higher education, but again not the point of the discussion.
It was broke, so I fixed it.
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Could I eliminate an assumption? That the income paying off the lone is science/engineering. What about a more mundane major - or are there no others? Or, couching this in different terms: the income of the typical Indian family, i.e., what I will presume is sending their first child for higher education. For example of the information I'm seeking: in the USA, it is said the average family income is ca. $50,000, but a year at a university (with room & board) may run in the vicinity of $40,000, or 80% of a families gross annual income. Too much for the vast majority under normal circumstances.
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W∴ Balboos wrote:
That the income paying off the lone is science/engineering. What about a more mundane major - or are there no others?
Well, kids prefer science/engineering these days. The other fields take a back seat, and there aren't many private colleges for those majors. Government colleges are either free or have really low fee structures. So for the few that pursue arts and similar degrees, there is no need for big loans.
W∴ Balboos wrote:
For example of the information I'm seeking: in the USA, it is said the average family income is ca. $50,000, but a year at a university (with room & board) may run in the vicinity of $40,000, or 80% of a families gross annual income. Too much for the vast majority under normal circumstances.
I agree, it's too much under normal circumstances. One a related note, most Indian students who do grad courses here(in the US) have a side-job or two, and usually also take up work in the university (teaching assistant, researcher etc.). Many also get scholarships (need really high GRE scores for that).
Regards, Nish
My technology blog: voidnish.wordpress.com You've gotta read this : Using lambdas - C++ vs. C# vs. C++/CX vs. C++/CLI
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Private or federal loan? A decade is a long time. Were you told it was good debt? Has it held you back in any way at this point in time.
Federal loan. Not sure what "good debt" is. I was in a rush to find my first job out of college because I already had credit card debt and needed to pay bills ASAP and was not in a position to rely on my parents. In fact, my lack of savings has led me to quickly find jobs without waiting for potentially better or higher paying jobs (i.e., I can't afford extra risk, so I gain less than somebody who can). So, yes, it has held me back, but I almost always see the requirement for a "BS in Computer Science" as a job listings, so I'd probably be held back more if I hadn't gone to college. Had I not gone to college, I'd probably have been able to get some low-level crap position (which I did anyway during college) and work my way up. And I'd have no debt. However, if I had the chance to do it again, I'd do it the same. I don't think I'd be the developer I am today without my experiences in college. Also, school is an end more than a means to me, so I am somewhat biased (one of these days I want to save up to go back to school). Also, my car was about $19K (bought it when I graduated college), so that held me back too. I saw that as as much of a necessity as college though.
Somebody in an online forum wrote:
INTJs never really joke. They make a point. The joke is just a gift wrapper.
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I got my programminig degree from the Jolly Fats School of Medicine and Laundromat Repair. It took two weeks (mostly waiting for the check to clear) and cost just $47 (counting postage and handling fees). If you ignore the fact that the diploma they set me looks very much as if it was written out by hand (and they mispelled the word "diploma"), it's all very offical looking. I think it was $47 (including postage and handling fees) very well spent. EDIT ====================== I forgot to mention that I did this back in 1992, and I very nearly have the loan paid off. Just 17 more months to go, and I'll be free and clear.
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997John Simmons / outlaw programmer wrote:
Jolly Fats School of Medicine and Laundromat Repair
I love this educational institution! Do you know that they also have advanced labs and research facilities? I recently ordered 3 gallons from their famous potion which cures astigmatism, hemorrhoids, hair loss, and most of the terminal diseases for only 27.68 and free shipping!
There is only one Vera Farmiga and Salma Hayek is her prophet! Advertise here – minimum three posts per day are guaranteed.
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I just want to get a pulse on student loans. How many of you in the USA have huge student loans and are struggling to pay them? For those of you NOT in the USA, how do you pay for higher education. Well, I should say to anyone who has student debt in the USA and is in trouble there might be help on the way. You can go to forgivestudentloandebt dot com and find the facebook link and join. It might help you or give you some insight if you don't understand the tuition issues students now face.
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Private or federal loan? A decade is a long time. Were you told it was good debt? Has it held you back in any way at this point in time.
mindserve wrote:
A decade is a long time
Also, keep in mind that I'm not paying off just student loans. I'm also paying off a car and debt from when I had some health issues (e.g., $3K for a broken tooth). I'd say 1/3 of my debt is from student loans, so split 10 years into 3.
Somebody in an online forum wrote:
INTJs never really joke. They make a point. The joke is just a gift wrapper.
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Borrow money from parents/other relatives. It's the only realistic way to not be permanently screwed.
Yeah - instead, everyone you borrowed money from is permenantly screwed. :)
".45 ACP - because shooting twice is just silly" - JSOP, 2010
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You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
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"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
Yeah - instead, everyone you borrowed money from is permenantly screwed. :)
".45 ACP - because shooting twice is just silly" - JSOP, 2010
-----
You can never have too much ammo - unless you're swimming, or on fire. - JSOP, 2010
-----
"Why don't you tie a kerosene-soaked rag around your ankles so the ants won't climb up and eat your candy ass." - Dale Earnhardt, 1997 -
:laugh: five all the way up
There is only one Vera Farmiga and Salma Hayek is her prophet! Advertise here – minimum three posts per day are guaranteed.
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I just want to get a pulse on student loans. How many of you in the USA have huge student loans and are struggling to pay them? For those of you NOT in the USA, how do you pay for higher education. Well, I should say to anyone who has student debt in the USA and is in trouble there might be help on the way. You can go to forgivestudentloandebt dot com and find the facebook link and join. It might help you or give you some insight if you don't understand the tuition issues students now face.
I was lucky enough to be educated in the UK before tuition fees, when students got GIVEN money to go to university, and have reliable vacation work at my dad's company. So I escaped with minimal debt. My wife, on the other hand, has a reasonably large student loan debt, which we left in the UK when we emigrated (in the UK you only have to pay back your loan if you live and work in the UK and earn more than (I think) 15000GBP pa).
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My advice, don't pick a career where you will end up struggling to repay the loan. All mine are paid off. :-D
It was broke, so I fixed it.
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mindserve wrote:
Doctors don't make that kind of money..not new ones anyway.
I agree. I guess once they are into their 30s, that's when they start hitting the 200K+ mark. Although, most of them know this will happen and so start spending lavishly early on.
Regards, Nish
My technology blog: voidnish.wordpress.com You've gotta read this : Using lambdas - C++ vs. C# vs. C++/CX vs. C++/CLI
Well, doctors also get a lot of benefits that people don't know about. For example, I live in a nice place where there's a lot of doctors in my building (there's a hospital near by)... the hospital actually gives them a "housing allowance"! ...and it's pretty high...
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My co-worker send his kid to the state college. Tuition+Room > $30,000/yr - so much for reasonably priced public school.
Not all are that high though (will vary A LOT!)... plus if you can get grants and scholarships, it cuts back on the out-of-pocket costs.
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I had a job to pay for my schooling in the USA. In-State tuition is really very affordable. Housing is what gets you but we all have to pay that anyway. Yes, yes, I admit, I went to a State College.
Need custom software developed? I do custom programming based primarily on MS tools with an emphasis on C# development and consulting. I also do Android Programming as I find it a refreshing break from the MS. "And they, since they Were not the one dead, turned to their affairs" -- Robert Frost
I went to a state college too, tuition was pretty affordable (relatively)... and now I make a very good living... so it certainly didn't lead me to earn any less than someone at MIT (for example).
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My co-worker send his kid to the state college. Tuition+Room > $30,000/yr - so much for reasonably priced public school.
Reasonable is a relative term, compared to an ivy league school it seems more reasonable. No it’s not inexpensive to be sure. I never got to go through a four year program, rather it’s been little by little when I could afford it or when my job helped with the tuition. Each time I went back, I ended up with a promotion or a better position. Slow yes, do I have any regrets, absolutely not! The fact is, it is a neccesary evil, try getting anywhere without any education.
It was broke, so I fixed it.
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I just want to get a pulse on student loans. How many of you in the USA have huge student loans and are struggling to pay them? For those of you NOT in the USA, how do you pay for higher education. Well, I should say to anyone who has student debt in the USA and is in trouble there might be help on the way. You can go to forgivestudentloandebt dot com and find the facebook link and join. It might help you or give you some insight if you don't understand the tuition issues students now face.
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Not all are that high though (will vary A LOT!)... plus if you can get grants and scholarships, it cuts back on the out-of-pocket costs.
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I just want to get a pulse on student loans. How many of you in the USA have huge student loans and are struggling to pay them? For those of you NOT in the USA, how do you pay for higher education. Well, I should say to anyone who has student debt in the USA and is in trouble there might be help on the way. You can go to forgivestudentloandebt dot com and find the facebook link and join. It might help you or give you some insight if you don't understand the tuition issues students now face.
mindserve wrote:
For those of you NOT in the USA, how do you pay for higher education.
My work provides educational sponsorship providing it is relevant to your job/career path. I pay for the module upfront, and submit an expense claim once I get the module pass exam letter.
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