Posts: 2,859
Threads: 143
Likes Received: 1,700 in 1,000 posts
Likes Given: 825
Joined: Jun 2017
WGU BSIT Complete January 2022
(77CU transferred in)(44/44CU )
RA(non WGU)(57cr)
JST/TESU Eval of NAVY Training(85/99cr)
The Institutes, TEEX, NFA(9cr): Ethics, Cyber 101/201/301, Safety
Sophia(60cr): 23 classes
Study.com(31cr): Eng105, Fin102, His108, LibSci101, Math104, Stat101, CS107, CS303, BUS107
CLEP(9cr): Intro Sociology 63 Intro Psych 61 US GOV 71
OD(12cr): Robotics, Cyber, Programming, Microecon
CSM(3cr)
Various IT/Cybersecurity Certifications from: CompTIA, Google, Microsoft, AWS, GIAC, LPI, IBM
CS Fund. MicroBachelor(3cr)
![[-]](https://www.degreeforum.net/mybb/images/collapse.png)
•
Posts: 782
Threads: 12
Likes Received: 335 in 257 posts
Likes Given: 271
Joined: Nov 2021
02-27-2022, 03:54 PM
(This post was last modified: 02-27-2022, 03:54 PM by carrythenothing.
Edit Reason: Added total cost
)
Quote:It’s all designed around student success. They will receive all of this at no upfront cost. And will only pay it back once they find a job earning at least $40,000 a year. Social Finance will then redistribute those repayments to future learners, making this model more sustainable.
I found this information on Social Finance's website:
Quote:Guided by a Student Bill of Rights, students repay via flat monthly payments for a set term, as long as their income remains above the minimum threshold. For example, students who secure jobs earning $40,000 would pay approximately $100 a month. Learners who earn less than $40,000 pay nothing. Repayment terms, such as minimum earnings amount and monthly payment amounts, will vary by training provider. Social Finance will reinvest repayments back into the program for several years to enable future learners to benefit.
One of the partners, Merit America, says "when you're in a job making $40,000 or more annually, you'll pay $95 per month for 60 months" ($5700).
•
Posts: 8,234
Threads: 90
Likes Received: 3,396 in 2,439 posts
Likes Given: 4,059
Joined: May 2020
(02-27-2022, 03:54 PM)carrythenothing Wrote: One of the partners, Merit America, says "when you're in a job making $40,000 or more annually, you'll pay $95 per month for 60 months" ($5700).
Holy cow! Students will end up owing $5700?! Just get a college degree for less money!
Posts: 11,051
Threads: 153
Likes Received: 5,984 in 3,988 posts
Likes Given: 4,164
Joined: Mar 2018
If you have no money and you still don't qualify for financial aid for whatever reason, owing $5700 isn't the worst thing in the world.
In progress:
TESU - BA Computer Science; BSBA CIS; ASNSM Math & CS; ASBA
Completed:
Pierpont - AAS BOG
Sophia (so many), The Institutes (old), Study.com (5 courses)
ASU: Human Origins, Astronomy, Intro Health & Wellness, Western Civilization, Computer Appls & Info Technology, Intro Programming
Strayer: CIS175, CIS111, WRK100, MAT210
•
Posts: 8,234
Threads: 90
Likes Received: 3,396 in 2,439 posts
Likes Given: 4,059
Joined: May 2020
(02-27-2022, 04:03 PM)rachel83az Wrote: If you have no money and you still don't qualify for financial aid for whatever reason, owing $5700 isn't the worst thing in the world.
If you're only making $40K a year it may be a problem. $40K isn't much in many areas of the country. This could also stay with a person for years and years.
•
Posts: 18,064
Threads: 966
Likes Received: 5,945 in 4,480 posts
Likes Given: 0
Joined: Feb 2016
This is interesting, anything that will give students or youth more experience and a certification would get them started in the right direction. It's great especially when "IT" or trades are picking up steam. If it provides credit or PLA/portfolio experience, that'll work too if they need it for future studies.
•
Posts: 10,908
Threads: 649
Likes Received: 1,830 in 1,131 posts
Likes Given: 427
Joined: Apr 2011
Might as well use the Pell Grant to get an undergraduate certificate or degree from a community college. The jury is still out on whether these Google career certificates directly lead to good-paying jobs. I've heard the data analytics graduates are discovering that most of the jobs require a degree.
Graduate of Not VUL or ENEB
MS, MSS and Graduate Cert
AAS, AS, BA, and BS
CLEP
Intro Psych 70, US His I 64, Intro Soc 63, Intro Edu Psych 70, A&I Lit 64, Bio 68, Prin Man 69, Prin Mar 68
DSST
Life Dev Psych 62, Fund Coun 68, Intro Comp 469, Intro Astr 56, Env & Hum 70, HTYH 456, MIS 451, Prin Sup 453, HRM 62, Bus Eth 458
ALEKS
Int Alg, Coll Alg
TEEX
4 credits
TECEP
Fed Inc Tax, Sci of Nutr, Micro, Strat Man, Med Term, Pub Relations
CSU
Sys Analysis & Design, Programming, Cyber
SL
Intro to Comm, Microbio, Acc I
Uexcel
A&P
Davar
Macro, Intro to Fin, Man Acc
Posts: 4,101
Threads: 356
Likes Received: 2,279 in 1,496 posts
Likes Given: 1,303
Joined: Jun 2018
02-27-2022, 06:07 PM
(This post was last modified: 02-27-2022, 06:07 PM by LevelUP.)
You could get a CompTIA A+ cert then get a tech support job for 40k a year.
Degrees: BA Computer Science, BS Business Administration with a concentration in CIS, AS Natural Science & Math, TESU. 4.0 GPA 2022.
Course Experience: CLEP, Instantcert, Sophia.org, Study.com, Straighterline.com, Onlinedegree.org, Saylor.org, Csmlearn.com, and TEL Learning.
Certifications: W3Schools PHP, Google IT Support, Google Digital Marketing, Google Project Management
•
Posts: 2,859
Threads: 143
Likes Received: 1,700 in 1,000 posts
Likes Given: 825
Joined: Jun 2017
Yikes I completely missed the debt part of that. Year up actually seems like a good program since they provide a year of apprenticeship/internship experience along with living stipend and courses(some ACE, though a bunch have lapsed).
I would hope they're not selling people $6k of debt to get a Google certificate that can be gotten for a few hundred at most, but some companies out there really like to exploit people's desperation.
WGU BSIT Complete January 2022
(77CU transferred in)(44/44CU )
RA(non WGU)(57cr)
JST/TESU Eval of NAVY Training(85/99cr)
The Institutes, TEEX, NFA(9cr): Ethics, Cyber 101/201/301, Safety
Sophia(60cr): 23 classes
Study.com(31cr): Eng105, Fin102, His108, LibSci101, Math104, Stat101, CS107, CS303, BUS107
CLEP(9cr): Intro Sociology 63 Intro Psych 61 US GOV 71
OD(12cr): Robotics, Cyber, Programming, Microecon
CSM(3cr)
Various IT/Cybersecurity Certifications from: CompTIA, Google, Microsoft, AWS, GIAC, LPI, IBM
CS Fund. MicroBachelor(3cr)
Posts: 130
Threads: 16
Likes Received: 61 in 32 posts
Likes Given: 140
Joined: Nov 2019
This is basically a rip off disguised as a great program to help people get ahead. Google hires people and trains them while they pay them as do some of the other IT related companies. As others have pointed out, the google cert can be gotten for a few hundred. Let's see how this looks all spelled out.
Single: Gross income $40,000.
A simple google search turned this up: ( I could look this up on the IRS website but I won't)
>Tax Type
Marginal Tax Rate
Effective Tax Rate
2021 Taxes*
Federal
12.00%
7.74%
$3,095
FICA
7.65%
7.65%
$3,060
State
5.25%
3.84%
$1,536
Local
0.00%
0.00%
$0
Total Income Taxes
19.23%
$7,691
Income After Taxes
$32,309
Take-Home Pay
$32,309
Okay, so now you're down to $32,309. Let's assume your boss has a good insurance plan and they only take out $20.00 per week from your check. Now you're down to $31,269.00. We won't get in to anymore deductions because many of those are voluntary, let's go with this.
This equates to $601.33 a week or $2405. per month. With standard bills: groceries, rent/house payment, car payment, insurances, cell phones, internet, gas for the car, utilities......a $95 payment per month for 60 months is a lot to consider.
Just another form of student debt.
|
![[Image: e7P9EJ4.jpeg]](https://i.imgur.com/e7P9EJ4.jpeg)
