Student loans

mindserve

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.

S Houghtelin

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.

Nish Nishant

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

AspDotNetDev

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.

Single Step Debugger

John Simmons / outlaw programmer wrote:

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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.

Lost User

Borrow money from parents/other relatives. It's the only realistic way to not be permanently screwed.

AspDotNetDev

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.

realJSOP

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

Lost User

Exactly.

Single Step Debugger

: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.

Kyudos

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).

gstolarov

My co-worker send his kid to the state college. Tuition+Room > $30,000/yr - so much for reasonably priced public school.

Albert Holguin

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...

Albert Holguin

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.

Albert Holguin

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).

S Houghtelin

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.

Nemanja Trifunovic

Saved by the hyperinflation.[^]

utf8-cpp

gstolarov

It is regular UC college (university of CA). And there is very little financial assistance for "middle class", BTW...

DaveAuld

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.

Dave Find Me On: Web|Facebook|Twitter|LinkedIn

Folding Stats: Team CodeProject

mindserve

Less help coming in the future too.