Post # 1
I’m very naturally curious Or ‘nosy’ as some people call it!) about college debts in the US/Canada. Being from Ireland we dont really have college debts as our fees are very low. I spent 3 years in college and my parents paid for it and my accomodation. Accomodation was €90 a week with €40 spending money. College fees were only around €2000 a year.
Is it always really bad and do you always end up spending years paying it off?
Post # 3
College loan debt is awful. I know it was my decision to go to college and my choice on where I went, and I do not regret those decisions, but I think it is RIDICULOUS how much loan companies are allowed to charge in interest. THAT should be mandated better by the government. It is also ridiculous how much college costs, in general. I even had a significant amount of scholarships and I’m still swimming in debt.
They talk about how the US is behind when it comes to higher education, well, it’s because NOBODY CAN AFFORD IT!!!!! There is no reason that someone with a regular bachelor’s degree should have to take 10 years or more to pay off a loan. I hope to pay mine off early so that the loan company cannot pry any more money out of me than they plan.
I also think it’s BS how FAFSA takes how much your parents make into consideration when deciding how much to give you because my parents did not pay a cent toward my education. Not that they are heartless or anything, but that is how we worked it out. They helped me with food and little things that I needed here and there, but the bulk of it is on me, and I think that if the government can help out so many other people financially, they should want to help out someone who is trying to better themself and get out into the job market a little more.
(stepping off of soap box now….)
Post # 4
Yes, I acquired debt to go to school, luckily I finished paying it off last year (It was only about $10k). From my understanding when I studied abroad in Ireland, I was told that when you are in High School you take a test that determines whether or not you go to college and that the test is not very easy? I think I’m remembering that right. Here in the States, we do have the SAT’s but pretty much everyone can get accepted into some college regardless of your SAT scores. The demand is so high here, tuition just keeps going up and up. The schools know that the thought process these days is that everyone needs a degree, and that people are willing to go into great amounts of debt to get one. When I was Ireland studying (10 years ago) I felt like more people went into trade professions there. I also often hear about people going back to school here and acquiring more debt b/c they can’t find a job with their current degree. I can’t imagine being 30 years old with $100k in school loans regardless of the profession!
Post # 5
I graduated in 1998 (after 7 years of college) and had about $30k-$35k I’m guessing. Got it paid off in the 10 years they allot for it. And man, did that feel good! Once I clicked the “pay” button online for my final payment, I jumped up from the computer, screamed and did a dance!!
Post # 6
I have no student loans, but I was fortunate to have my parents pay for my schooling. FI has about $30k.
Post # 7
@nickels: At the end of Secondary school(high school) we have an exam in 7/8 subject choices called the Leaving Certificate. We get allocated points based on how well we do and that corresponds to points needed to enter college. Generally if you know what you want to do and you work hard you can get in to most courses(excluding medicine/vetinary which are competitive). The only trouble is that the number of people applying for a course has direct effect on the number of points, so if a certain course is popular and a lot apply for it the points will be high
For example, I recieved 450 points and the course I applied for only required 390. Some people are heartbroken though with competitive courses like medicine etc as the places are few and the points high. You basically have to ace every test.
Years ago when our economy was doing well many went into trades as there was more money to be earned, however now they are either emigrating or going back to college to get a qualification
Post # 8
Nothing from undergrad but I’m going to have 75k+ when I finish grad school and thats with my job contributing
Post # 9
College loan debt here is AWFUL!! I was lucky enough to have my parents pay for my college, however my fiance will be paying off his debt until he’s in his 50s (unless we win the lottery :))..also, that is with him paying the same amount each month toward the loan that we pay in rent! The reason why it is so expensive is because he is paying out of state tuition. He has a good job….but we have to watch our expenses alllll the time because so much of his money goes towards his loans. You are so lucky to have it be so cheap over there!!
Post # 10
i have about $2000, but FI has over $30,000.
Post # 11
@agraham85: I’m sure with our economic issues the college fees debate will be revisited again!
Post # 12
I actually came out of school WITH money. My parents started a 529 when I was a kid, and I got a scholarship, so they ended up using it to pay rent in my college apartment, books, supplies, etc. But to be fair, they’re both college professors, so they REALLY planned ahead.
Post # 13
@yellowlace: I also think it’s BS how FAFSA takes how much your parents make into consideration when deciding how much to give you because my parents did not pay a cent toward my education. Not that they are heartless or anything, but that is how we worked it out. They helped me with food and little things that I needed here and there
Agreed! I paid for my own education – some in cash, some in loans – but they STILL took my parents’ income into consideration and I was never able to get a grant.
Post # 14
@yellowlace: I also think it’s BS how FAFSA takes how much your parents make into consideration when deciding how much to give you because my parents did not pay a cent toward my education. Not that they are heartless or anything, but that is how we worked it out. They helped me with food and little things that I needed here and there, but the bulk of it is on me, and I think that if the government can help out so many other people financially, they should want to help out someone who is trying to better themself and get out into the job market a little more.
lol DEFINITELY agree with you on the FAFSA part, they laughed at me when I went to the financial aid office to get some type of grant or something for school. They replied, “the amount your dad makes alone is enough for a family of 4 AND you stay in a 2 parent household, yea we cant do that.” sooooo just because my parents worked their a– off to make sure my brother and I had a decent living I can’t get a $1000 towards my schooling smh! I’m sorry my parents don’t have hbills and just have all this money sitting in a closet -_____- This economy is soooo backwards…harass you to go to college YET when u graduate there’s no job and the loan people are harassing you for money u don’t apparently have. Look at China, they have one of the BEST education systems and they pay like $300/yr for college. Now I have all this debt it school loans for a “better lifestyle” HA!
Post # 16
@NeNe G: can you imagine $300 a year?? Must be nice….