Are your students loans worth it?

posted 3 years ago in Money
  • poll: Were your student loans worth it or a waste?
    Totally worth it! Never questioned or regretted taking them out. : (104 votes)
    34 %
    No education is ever wasted, but I have questions/regrets now. : (89 votes)
    29 %
    I had doubts while in school but was determined to finish no matter what. : (33 votes)
    11 %
    It was a waste and if I could do it over again, I never would have. : (64 votes)
    21 %
    Other... : (12 votes)
    4 %
  • Post # 3
    Member
    2537 posts
    Sugar bee
    • Wedding: November 2013

    My SO paid off my student loans and they weren’t worth it.  I have huge feelings on my college experience. His have paid off.

    Post # 4
    Member
    3570 posts
    Sugar bee
    • Wedding: September 2011

    I spent 225K to get a law degree from a private school.  Not worth it!!!!!!

    Post # 5
    Member
    1360 posts
    Bumble bee

    Sorry, just commenting to follow. Tuition is affordable here so no debt from undergrad, but SO and I are considering moving to the US to pursue further degrees. The idea of having 10’s of thousands of dollars in debt terrifies me!

    Post # 6
    Member
    4513 posts
    Honey bee
    • Wedding: October 2013

    Yes. I wouldn’t have gotten my job without my degree.

    Post # 7
    Member
    3280 posts
    Sugar bee
    • Wedding: June 2014

    If my undergrad and graduate school wasn’t paid for I probably wouldnt have gone to top universities. I don’t think id ever take out a student loan, but I haven’t been in that situation. If I didn’t have the money id go to a cheap community college.

    Post # 8
    Member
    10384 posts
    Sugar Beekeeper
    • Wedding: September 2010

    I think for most degrees in most fields, private colleges and universities are not worth the money if you are taking large loans out to go (assuming you are measuring “worth it” by your future earning power, and not some specialized experience you could get at a particular private school or something).

    I had about $20k in loans from undergrad, which is very low by today’s standards (graduated 2005) and actually got paid to go to grad school (NSF fellowship plus tuition is waived for PhD students at MIT). My MIT degree is worth its weight in gold and would have been worth it even if i’d taken large loans. It’s opened SO many doors and gotten me a lot of amazing places.

     

    Post # 9
    Member
    8593 posts
    Bumble Beekeeper
    • Wedding: September 2013

    I didn’t really have much from my BA, most of it was from my MA (I didn’t pay tuition and had a small stipend but it wasn’t enough, liberal arts areas don’t pay as well as the sciences).  NOT worth it for me.  I would say it is worth it for your BA but I wouldn’t bother with a top/private school if I had to take out loans for it.  There’s no need for that at the undergrad level IMO.  For grad school it really depends on the field for me.  Many of them you should be getting free tuition and stipends.  Extra loans being worth it would depend on the field and job outlook I suppose.

    Post # 12
    Member
    2687 posts
    Sugar bee
    • Wedding: September 2015 - Ketchum, ID

    @renwoman:  It depends on what degree you get, where you get your degree from, etc. Do I think it’s smart to take out loans to get a law degree or a medical degree from a top school in the nation? Absolutely not, that’s not a smart idea. However, I took out around $20K to get an Economics degree from my state university (actually a fairly good school), and while I haven’t graduated yet, I already feel like it’s been worth it. Economics studies alone show that most of the time, it is worth it. You just have to be smart about what degree you get. I would never take out any loans to get a degree in something like art or music, as much as I love both of those things. 

    Post # 13
    Member
    3394 posts
    Sugar bee
    • Wedding: April 2014

    @renwoman:  While I totally agree that education is never wasted, I know far too many people who took out loans and never got a degree or got a degree and work in a completely unrelated field. Though I have heard that having any degree at all will help you get a job more than not having one.

    Post # 14
    Member
    5207 posts
    Bee Keeper
    • Wedding: February 2013

    @renwoman:  I regret it. My college degree has proven useless, and I am in debt from student loans. I would encourage any younger person to learn a trade, work full time, save some money first and then continue their education later on when they could afford it.

    Post # 16
    Member
    1722 posts
    Bumble bee
    • Wedding: June 2014

    I took out student loans to help pay tuition and expenses while I pursued (and completed) my teaching degree. I believe it was worth every penny. 

    I wouldn’t be able to be a teacher without a degree, so it was necessary. 

    I am so much happier and my starting salary is 10k more annually than I was earning before. 

    It’s important to be wise when taking student loans out and it’s important to choose a college wisely. Depending on the field one plans to go into, an expensive college may or may not be worth it. As @crayfish said, her MIT education is worth its weight in gold for many reasons. 

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