Student Loan Debt Relief

2

Comments

  • static111
    static111 Posts: 5,083
    tempo_n_groove said:
    mace1229 said:
    brianlux said:
    A big part of the problem with student debt is the cost of higher education in the first place.  It seems odd to me that this is seldom addressed.  Let me give an example:
    The total tuition costs for 15 semester units for my first semester in 1969 was $50.00
    Tuition costs at the same university today for 7 units and up is $7,304

    Using an inflation calculator, $50 in 1969 dollars is $404.37.

    Thus:
    Cost of tuition in 1969: $404,37
    Cost of tuition in 2022: $7,304.00

    Is that insane or what?
    What seems crazy is it was that cheap in 1969. $400 for college tuition is practically free college. Thats the cost of 2 textbooks. 

    When you think about it, the cost of college isn't that much. Considering the government spends an average of $12,000 per year for students to go to school, $20,000 for a year of college seems about on par. The difference is college is becoming more expected and less of just furthering your education. I also assume with a lot more kids going to college now than 50 years ago, the subsidized taxes are water down to cover more students. 

    Just looked it up out of curiosity, average in state is about 9k and out of state is about 26k.
    https://educationdata.org/average-in-state-vs-out-of-state-tuition

    Still seams high. But you can manage the costs with 2 years of community college and staying in state. 
    What else is crazy was you could have the mrs stay home and you could work as a soda jerk and buy a house and a car.

    I would love to be able to pull shifts at Mickey D's and live comfortably.
    Wouldn't we all
    Scio me nihil scire

    There are no kings inside the gates of eden
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    static111 said:
    tempo_n_groove said:
    mace1229 said:
    brianlux said:
    A big part of the problem with student debt is the cost of higher education in the first place.  It seems odd to me that this is seldom addressed.  Let me give an example:
    The total tuition costs for 15 semester units for my first semester in 1969 was $50.00
    Tuition costs at the same university today for 7 units and up is $7,304

    Using an inflation calculator, $50 in 1969 dollars is $404.37.

    Thus:
    Cost of tuition in 1969: $404,37
    Cost of tuition in 2022: $7,304.00

    Is that insane or what?
    What seems crazy is it was that cheap in 1969. $400 for college tuition is practically free college. Thats the cost of 2 textbooks. 

    When you think about it, the cost of college isn't that much. Considering the government spends an average of $12,000 per year for students to go to school, $20,000 for a year of college seems about on par. The difference is college is becoming more expected and less of just furthering your education. I also assume with a lot more kids going to college now than 50 years ago, the subsidized taxes are water down to cover more students. 

    Just looked it up out of curiosity, average in state is about 9k and out of state is about 26k.
    https://educationdata.org/average-in-state-vs-out-of-state-tuition

    Still seams high. But you can manage the costs with 2 years of community college and staying in state. 
    What else is crazy was you could have the mrs stay home and you could work as a soda jerk and buy a house and a car.

    I would love to be able to pull shifts at Mickey D's and live comfortably.
    Wouldn't we all
    If I hit lotto that is my plan, lol!
  • mace1229
    mace1229 Posts: 9,829
    edited October 2022
    Gern Blansten said:
    The best way to go to college is to do it from home. Tuition might only be about $9K/year. It's the room and board that doubles the cost.
    Yes, but I dont see why that’s a factor. You need room and board whether you’re at school or working at McDonald’s.
    An extra 12k for housing and food for the better part of a year isn’t really that bad. You’d spend that living off campus in most major cities. Only difference is you’d probably get a little more space doing it off campus.
    Post edited by mace1229 on
  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,662
    tempo_n_groove said:
    mace1229 said:
    brianlux said:
    A big part of the problem with student debt is the cost of higher education in the first place.  It seems odd to me that this is seldom addressed.  Let me give an example:
    The total tuition costs for 15 semester units for my first semester in 1969 was $50.00
    Tuition costs at the same university today for 7 units and up is $7,304

    Using an inflation calculator, $50 in 1969 dollars is $404.37.

    Thus:
    Cost of tuition in 1969: $404,37
    Cost of tuition in 2022: $7,304.00

    Is that insane or what?
    What seems crazy is it was that cheap in 1969. $400 for college tuition is practically free college. Thats the cost of 2 textbooks. 

    When you think about it, the cost of college isn't that much. Considering the government spends an average of $12,000 per year for students to go to school, $20,000 for a year of college seems about on par. The difference is college is becoming more expected and less of just furthering your education. I also assume with a lot more kids going to college now than 50 years ago, the subsidized taxes are water down to cover more students. 

    Just looked it up out of curiosity, average in state is about 9k and out of state is about 26k.
    https://educationdata.org/average-in-state-vs-out-of-state-tuition

    Still seams high. But you can manage the costs with 2 years of community college and staying in state. 
    What else is crazy was you could have the mrs stay home and you could work as a soda jerk and buy a house and a car.

    I would love to be able to pull shifts at Mickey D's and live comfortably.

    Yeah good point.  At that time (1972 to 1973) I shared a 3 bedroom upstairs flat with two roommates in the upper Haight in S.F. with a terrific view.  $200 per month.  Included use of the roof as a deck, a single car garage, and shared use of a small back yard.  Three guys working minimum wage jobs in this beautiful flat that was (in today's money) about $1,340 per month.  Amazing.  Same place today would go for 3 or 4 times that much. 

    Other things that were inexpensive that almost anyone could afford: 
    Pack of Bull Durham tobacco with pack of 20 rolling papers:  10 cents. (71 cents in 2022 dollars)
    Streetcar fare (including transfer that would take you anywhere in the city:  25 cents ($1.78 in 2022 dollars.  Cost today is $2.50)
    Cup of coffee in a diner:  10 cents. (71 cents in 2022 dollars)
    Average cost of gallon of gas in California:  36 cents ($2.44 in 2022 dollars.  Currently, in S.F., gas is from $5.55 to $6.00)

    We're being taken for a ride.
    "It's a sad and beautiful world"
    -Roberto Benigni

  • bootlegger10
    bootlegger10 Posts: 16,256
    edited October 2022
    During the pandemic we were able to figure out how to work from our kitchen tables, but for some reason universities feel the need to spend millions on over the top school buildings.  And then professors get paid a lot to do very little.
  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,662
    bootlegger10 said:
    During the pandemic we were able to figure out how to work from our kitchen tables, but for some reason universities feel the need to spend millions on over the top school buildings.  And then professors get paid a lot to do very little.

    I had a very different experience working at out local community college as department assistant in the Human Services program.  It always seemed to me that the profs worked hard (I know the one I worked with sure did!), but it was the admin people who had it relatively easy.  I once over heard one of the profs in the building I worked in say to another instructor, "These admin people really get to me.  It's as though they hate students.  I think their motto must be 'If it wasn't for these damn students, we could get some work done around here'". :lol:
    "It's a sad and beautiful world"
    -Roberto Benigni

  • oftenreading
    oftenreading Victoria, BC Posts: 12,856
    The majority of people doing the teaching get paid very little and work pretty hard. Maybe that changes for some when they get tenure, but before then it’s a dogfight and those who don’t end up getting tenure are often out of a job with few prospects. 
    my small self... like a book amongst the many on a shelf
  • Zod
    Zod Posts: 10,904
    I feel pretty lucky here in Canada that our universities are partially subsidized.  Between student loans, summer employment, and the odd part time job during the school year, I graduated with $27k in student loans.   I could of been more prudent (ie less concerts).  My biggest struggle was finding gainful employment after university.  Took me about 1.5 years until I moved to get a job, then I knocked that fucker out in 3 years.

    I can't imagine what it's like now, especially in the US with the huge costs.  I think the biggest challenge here is living.  If your parents don't live where you want to go to university it gets really expensive really quick.
  • brianlux
    brianlux Moving through All Kinds of Terrain. Posts: 43,662
    oftenreading said:
    The majority of people doing the teaching get paid very little and work pretty hard. Maybe that changes for some when they get tenure, but before then it’s a dogfight and those who don’t end up getting tenure are often out of a job with few prospects. 

    Exactly. 
    And kudos to those who can stick it out.  I didn't, but I did the time I was in it as best I could.
    "It's a sad and beautiful world"
    -Roberto Benigni

  • Spiritual_Chaos
    Spiritual_Chaos Posts: 31,471
    In Sweden the advice has always been to pay the least amount possible on the student loans because the interest is so low, and instead put the money into the stick market where you get more for your money. 
    "Mostly I think that people react sensitively because they know you’ve got a point"
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    Zod said:
    I feel pretty lucky here in Canada that our universities are partially subsidized.  Between student loans, summer employment, and the odd part time job during the school year, I graduated with $27k in student loans.   I could of been more prudent (ie less concerts).  My biggest struggle was finding gainful employment after university.  Took me about 1.5 years until I moved to get a job, then I knocked that fucker out in 3 years.

    I can't imagine what it's like now, especially in the US with the huge costs.  I think the biggest challenge here is living.  If your parents don't live where you want to go to university it gets really expensive really quick.
    I heard a great special on NPR one day about US colleges and why they are so expensive.  They do get subsidized and that is why the price is driven up.

    Here is an article about some of that.
    https://www.npr.org/2018/12/13/672952507/does-more-federal-aid-raise-tuition-costs-not-for-most-students-research-says
  • Poncier
    Poncier Posts: 17,889
    Spiritual_Chaos said:
    In Sweden the advice has always been to pay the least amount possible on the student loans because the interest is so low, and instead put the money into the stick market where you get more for your money. 


    Sweden is a very strange place.
    This weekend we rock Portland
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    Poncier said:
    Spiritual_Chaos said:
    In Sweden the advice has always been to pay the least amount possible on the student loans because the interest is so low, and instead put the money into the stick market where you get more for your money. 


    Sweden is a very strange place.
    That's worth half a semester right there.
  • static111
    static111 Posts: 5,083
    Poncier said:
    Spiritual_Chaos said:
    In Sweden the advice has always been to pay the least amount possible on the student loans because the interest is so low, and instead put the money into the stick market where you get more for your money. 


    Sweden is a very strange place.
    Lol
    Scio me nihil scire

    There are no kings inside the gates of eden
  • mickeyrat
    mickeyrat Posts: 44,418
    https://youtu.be/mV-EJCx9g5I
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • mickeyrat
    mickeyrat Posts: 44,418
    tempo_n_groove said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    mfc2006 said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    Exactly
    We actually talked about trying to get that money and invest it.  We would probably do better in the long run.

    My GF is one of those that had zero help from anyone, no guidance and was told by her guidance counselors to go to a good school and it will pay off.  All those people should be hanged.

    Get that money? Do I understand you to mean you think you're getting cut a check for this debt relief? That money is going straight to the lender.
    _____________________________________SIGNATURE________________________________________________

    Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
    you're finally here and I'm a mess................................................... nationwide arena columbus '10
    memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
    another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    mickeyrat said:
    https://youtu.be/mV-EJCx9g5I
    Just before midterms!
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    mickeyrat said:
    tempo_n_groove said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    mfc2006 said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    Exactly
    We actually talked about trying to get that money and invest it.  We would probably do better in the long run.

    My GF is one of those that had zero help from anyone, no guidance and was told by her guidance counselors to go to a good school and it will pay off.  All those people should be hanged.

    Get that money? Do I understand you to mean you think you're getting cut a check for this debt relief? That money is going straight to the lender.
    It is? shit.  That sucks.  Well at least she will hopefully get some knocked off and yes I was hoping it was a check cut to us.  Oh well.  We could have done better with it.
  • mfc2006
    mfc2006 HTOWN Posts: 37,491
    tempo_n_groove said:
    mickeyrat said:
    tempo_n_groove said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    mfc2006 said:
    Gern Blansten said:
    tempo_n_groove said:
    It's for 10k though?  My GF has 100K in debt...
    yikes....still $10K > $0
    Exactly
    We actually talked about trying to get that money and invest it.  We would probably do better in the long run.

    My GF is one of those that had zero help from anyone, no guidance and was told by her guidance counselors to go to a good school and it will pay off.  All those people should be hanged.

    Get that money? Do I understand you to mean you think you're getting cut a check for this debt relief? That money is going straight to the lender.
    It is? shit.  That sucks.  Well at least she will hopefully get some knocked off and yes I was hoping it was a check cut to us.  Oh well.  We could have done better with it.
    Yup. Straight to the lender.

    Poncier said:
    Spiritual_Chaos said:
    In Sweden the advice has always been to pay the least amount possible on the student loans because the interest is so low, and instead put the money into the stick market where you get more for your money. 


    Sweden is a very strange place.
    LOL
    I LOVE MUSIC.
    www.cluthelee.com
    www.cluthe.com
  • tempo_n_groove
    tempo_n_groove Posts: 41,384
    Govt loans.  They made their money.  We were looking at what she paid and she has literally paid off one of the loans in interest and has had $300 towards the principal...

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