Are you paying for your college education?

[PharmD]

Loans, loans, loans. I had a college fund that payed for all of my undergrad, but grad school is a whole other beast. I'll be about $200k in debt after pharmacy school. I'm looking into the Air Force Health Profession Scholarship Program where they pay for everything including a $1200/month stipend. I'm considering the AF as a career so I wouldn't mind being in there for a number of years anyways.

 

[Melkor]

I'm glad I live in Ireland, where college is free (albit the registration fees are a little pricy at around 700 euro) and their are equal opportunities for everyone whether you come from a rich or poor background . By the way, if you come from a less well off family you don't have to pay the registration fee, and you get a government grant to go towards books, rent etc.

I can't believe how expensive college is in America. What chance do you have if you come from a less well off family? It sounds so unfair.

 

[jefhatfield]

I'm glad I live in Ireland, where college is free (albit the registration fees are a little pricy at around 700 euro) and their are equal opportunities for everyone whether you come from a rich or poor background . By the way, if you come from a less well off family you don't have to pay the registration fee, and you get a government grant to go towards books, rent etc.

I can't believe how expensive college is in America. What chance do you have if you come from a less well off family? It sounds so unfair.

we will end up with rich people giving birth to kids who will go to college because they can afford it, not because they got unusually high marks, or even marginally high marks in anything...it won't be long before a poor person with the best grades will basically be completely out of luck if they don't have a lot of cash

our military budget grows while our student loans get threatened with further cutbacks

yes, it is unfair since state funded college used to be free with room and board, and books...but today, there is a cost for state funded college and it keeps getting higher every year faster than people's incomes

and here in the usa we live in a country that pushes for bigger tax cuts for the rich and starting two front foreign wars while not offering free education like you have, or we used to have in the states in the 1970s and before

at least i am glad that the people in our country, and yours and a precious few others have democracy and could vote to change things...but it will take a few more kicks in the backside for our country to get out of its rut, out of its recession, get out of iraq, and have some well funded social programs again

 

[prostuff1]

I dont have to worry about paying for school...thank god. My parents started a fund when i was born and there is enough in it now to pay for about 4 years of college. I am living with my grandmother now so i dont have to worry about dorms or anything like that. Most of my time is spent studying. I dont currently have a job but i did work at a golf course for the past four years and saved just about every pennie from that job. I bought my own vehicle (which i no longer get to drive cause my parents made me give it to my sister), and i paid for half of the insurence for 3 years, plus when i went away to college i ahd to buy my computers (graduation money helped with that though). I still have enough money to pay for gas and not work...right now. When i move down to main campus i am going to get a job since i will have to pay for food and transportation.

I am extremely lucky and thankful that myu parents allowed me to go to college and not have to worry about a lot. Unfotunantly i did not qualify for many scholarships, even though my high grades and ACT scores. My family income is "to high" and therefore i dod not qualify most of the offerings.

 

[joker2]

First time around, I had two scholarships that essentially covered the difference between in-state and out-of-state tuition for the first two years (based on my HS GPA and application). Parents paid the rest as long as they could afford to. I worked starting my second semester for spending money and car costs. Unfortunately, I got sick and had to drop out two semesters in a row, and of course after the add-drop period, so I couldn't get refunds. Really disappointed that I couldn't make better use of my parents' money.

Went to school part time on my own dime for a bit while working full-time, then moved back with my parents. Got another full-time job and started to go to school at night on Federal Student Loans... Just graduated, and now have $35k in student loans that can be paid back at ~$210/month for 20 years. (No penalty for early payment, so I'll be paying more as I can afford to!)

 

[dops7107]

I was resourceful and for that very reason I owe $ 0.00 to the gov't. Yeah me.

hmmm.... resourceful.... what could that mean?

 

[jefhatfield]

hmmm.... resourceful.... what could that mean?

here is what i have seen college students do:

1) top ramen for breakfast, lunch, and dinner
2) selling your body
3) selling a little green herb
4) taking a very long time to get through school as to absorb the expenses than if you did the classes over a shorter period of time

 

[adroit]

When I went to University, my parents helped pay for my first semester - after that, I was on my own. I entered the University's Cooperative Work Experience program, and throughout my Engineering eduction I went on 4-month work terms with various companies around the country. It gave me great real-world experience for my resume, so I didn't have "just my degree" when I graduated, and most importantly, it gave me the income which allowed me to become self-sustained, so I could pay for the rest of my education without needing my parents' help or to take out a student loan. I consider myself very lucky that I left University with zero debt.

I'm a little late into the conversation

I'm pretty much doing the same thing. Parents helped me for my first year and then I'm pretty much on my own and I've just got a really nice co-op for next semaster as well Without co-op I wouldn't even know how I would apply for my first job becuase that is where pretty much all of my experience are from. Engineering co-op rocks!

Edit: except from when I was stuck in Fort St. John, a small town in northern BC Canada (aka out of nowhere), for 4 months in the winter. It was cold!!!!

 

[~Shard~]

I'm a little late into the conversation

I'm pretty much doing the same thing. Parents helped me for my first year and then I'm pretty much on my own and I've just got a really nice co-op for next semaster as well Without co-op I wouldn't even know how I would apply for my first job becuase that is where pretty much all of my experience are from. Engineering co-op rocks!

Edit: except from when I was stuck in Fort St. John, a small town in northern BC Canada (aka out of nowhere), for 4 months in the winter. It was cold!!!!

I know what you mean - one of my friends did a 8-month stint out at Fort MacMurray in Northern Alberta - same thing, pretty much...

But yes, the Co-op program is excellent. I owe a lot to it.

 

[crdean1]

Have a good friend who is about $200K in debt right now, and will be about $300K in debt when he finishes his residency. He is studying to be a radiologist.

Sounds like a lot, but he, his wife and their child will be living off $50K and using the rest of his $300K salary to pay off debt in his first two years of practice.

I have paid my own way up until now by going to school at night (I work during the day to support my wife and our home by recruiting for the legal field) but my parents are helping me here and there (they don't pay for everything) to finish so I won't have any debt.

 

[m-dogg]

Yup...graduated in '97, began paying my student loan debt in '98, won't be finished until '08. I took out the maximum Stafford loan each semester and my family was able to pick up the remainder.

They also put a 4 year max on what they would help cover. Anything over 4 years of college, and I would have to pay 100% of the cost. I had to take a couple of summer classes, but I did graduate in 4 years...most people I know took longer...

Anyway, I will defintely be a happy man come 2008!!!

 

[jefhatfield]

Have a good friend who is about $200K in debt right now, and will be about $300K in debt when he finishes his residency. He is studying to be a radiologist.

Sounds like a lot, but he, his wife and their child will be living off $50K and using the rest of his $300K salary to pay off debt in his first two years of practice.

I have paid my own way up until now by going to school at night (I work during the day to support my wife and our home by recruiting for the legal field) but my parents are helping me here and there (they don't pay for everything) to finish so I won't have any debt.

if your doctor friend manages to pay off such a huge loan in such a short period of time and gets other doctors to do the same, it will be a miracle

actually, if he could document how he does it he can win a nobel peace prize in economics

let's take his 300k salary and minus out the 45% pecent tax to cover federal and state taxes....that leaves 165k and then minus out the 50k for living expenses then that leaves 115k per year

it would take nearly 3 years to pay off the student loans at current rates...and that would assume he makes 300k as a new doctor out of residency, and that would assume that all could live off of 50k, and that would assume that nobody would fall victim to creature comforts beyond basic necessities, etc...

my guess is that it will take a long time to pay off 300k, unless, of course, the good doctor wins big on lotto

 

[nbs2]

Loans, loans, loans. I had a college fund that payed for all of my undergrad, but grad school is a whole other beast. I'll be about $200k in debt after pharmacy school. I'm looking into the Air Force Health Profession Scholarship Program where they pay for everything including a $1200/month stipend. I'm considering the AF as a career so I wouldn't mind being in there for a number of years anyways.

Just out of curiosity, I was wondering if you are from around here. If not, why did you decide to come to Maryland? I've got some friends at the Pharm school and I find some of their reasons for going there the be a bit strange. I'm down the street at the law school

 

[18thTomorrow]

yes...I pay for my own college and I'm proud of it.

the only financial contribution my parents make is my living with them...I have 5 sibs and my dad only makes about 50k a year, so there's no way they could afford it.

I work 30 hours a week, go to school 14 hours a week, and sleep 2 hours a night.

it's a crazy life sometimes, but it's beautiful.

 

[maya]

here is what i have seen college students do:

1) top ramen for breakfast, lunch, and dinner
2) selling your body
3) selling a little green herb
4) taking a very long time to get through school as to absorb the expenses than if you did the classes over a shorter period of time

Actually, 3 grants that fully funded my post high education.

All legit, and this was through the company I worked with, a competition grant that the school held (and I won), and through my high school grades. See if you use your brain you can be quite resourceful without using your body in an illegal manner.

 

[maya]

Yeah, it's nice not owning anyone money, isn't it?

Very much so.

I do however pay at present in taxes.

The gov't gets you some how.

 

[~Shard~]

I work 30 hours a week, go to school 14 hours a week, and sleep 2 hours a night.

it's a crazy life sometimes, but it's beautiful.

Wow, although that's a bit excessive, I applaud your efforts. I think this brings up a good point too - to some students, for some unknown reason, it never seems to dawn on them that they could actually work while going to school to help pay for things - it almost seems like a foreign concept to them. Yes, you won't have as much free time, yes it's more stressful, but hey, life isn't fair - welcome to the real world. I realize this doesn't apply as much for every student, as some students go to school 40+ hours a week, but still...

Good for you.

 

[~Shard~]

Very much so.

I do however pay at present in taxes.

The gov't gets you some how.

Yeah, there's no way to avoid that. Ah well, what can you do. I try to lower the amount I have to pay in taxes as much as possible - every little bit helps...

 

[Stella]

I got my university education free - I was lucky, being the last year that tuition was paid for in the UK, so I just paid living expenses and beer.

Now UK students have to cough up over #1000 ( pounds ) a year. ( I don't know the exact sum ).

Poor bastards.

I'd hate to start working life off with a huge debt over my head.

 

[CompUser]

My sister goes to Tufts University.

She graduated #1 in her class in High School. She played varsity soccer all 4 years of HS (there were also JV and freshman teams) and she would have done basketball and track except she went to the Greater Hartford Academy of Math and Science for the 2nd half of her school day.

She got no money from the high school's various scholarships. Additionally she got no merit money from Tufts because they don't give money out for being academically good. Of course, no financial aid (well my mom is a pediatrician, but there are still people whos parents don't make an a lot of $$$ who still don't get $$$). On her midterms she got a 99.5 on chemistry and a 98 on her spanish (how is that possible).

She plans on going to med school to become a dermatologist (I think, it changes often).

My parents are paying for everything. They don't want to have my sister out of college and in $160,000 debt and even more if she goes to med school.

 

[jefhatfield]

My sister goes to Tufts University.

She graduated #1 in her class in High School. She played varsity soccer all 4 years of HS (there were also JV and freshman teams) and she would have done basketball and track except she went to the Greater Hartford Academy of Math and Science for the 2nd half of her school day.

She got no money from the high school's various scholarships. Additionally she got no merit money from Tufts because they don't give money out for being academically good. Of course, no financial aid (well my mom is a pediatrician, but there are still people whos parents don't make an a lot of $$$ who still don't get $$$). On her midterms she got a 99.5 on chemistry and a 98 on her spanish (how is that possible).

She plans on going to med school to become a dermatologist (I think, it changes often).

My parents are paying for everything. They don't want to have my sister out of college and in $160,000 debt and even more if she goes to med school.

i have a friend who went to a baby ivy, then went into business for himself which didn't work, and the total debt was well over 200k (maybe even more)

...to save money when he later was in graduate school, he went to a state funded university so as not to add more to the large debt he owed and got a decent job (i am sure he could have done the graduate school at another ivy, but work history, age, and experience with a good state funded master's degree is good enough)

there are plenty of people who go to a stanford or harvard for their undergraduate degree (just because they were accepted) and later in life, when they have kids, mortgage, car payments, etc, they may get their master's at cal or ucla and save a ton of money

and most realize that, as i mentioned, after age 30, it's one's work experience and history that account for future job raises, and not what school one went to

i also know another man, who is completely broke who went (had to due to lack of funds) to hayward state university (then $1500 a year) for a couple of years to get his master's years after he got his $100,000 dollar education for four years and a ba at amherst