New York May Offer Free Tuition Soon

[miah]

Student loans should not be higher interest than auto or mortgages (IMHO) ... it's just not fair.... it used to be that attending college and higher education could help raise you up out of poverty and debt.... not so sure that is as true now for the masses that use the traditional route of achieving higher education degrees...

I know plenty of kids paying their way through school, or who have grants and scholarships.  You do NOT have to take out tens of thousands of dollars of student loans to get through school!  If you can't afford it, you can choose less expensive schools, choose to work for a year or two instead of going to school, find jobs where they will pay for tuition, etc.  People who go to schools they can't afford and then take out tons of student loans to pay for it...well, that was just not smart.  I'm not talking about $10k in student loans, I'm talking $50-$150k.  That's just dumb.

And yes, when I was 18, and got accepted to Stanford, I thought it might be a great idea to take out loans to go, and my mom said ABSOLUTELY NOT!  Thank heavens someone in my life was smarter than I was right then, because I was an 18 year old moron.

I used to think that as well, but sometimes you don't have a choice to stay local if you want to get a degree such as Veterinary Technology or some other similar majors that are not available at every school, like business and psychology or education degrees are.

My nephews went to NYS SUNY schools and still graduated in debt! It is can cost $25,000 a year to attend STATE PUBLIC SCHOOLS in NYS by the time you add together tuition and fees and room and board and books!

Maybe other states are less expensive for instate students, but the cost of room and board is more than the cost of tuition and fees so you can't use that blanket statement for all students!

A 4 year degree will cost at least $100,000 in NYS at SUNY colleges. These are state colleges and universities, not private colleges!

Don't most 4-year colleges offer business, psychology, and education? Those are the most popular majors in the country.

I would bet $1 million that most SUNY students take out nowhere near $100k in loans. I don't think people realize how difficult it is for dependent students to find that much loan money.

RE: "Don't most 4-year colleges offer business, psychology, and education? Those are the most popular majors in the country."

*** Yes, that was my point, and that is what I said. 
My point being that it might work out fine when you are going to college for a more common degree (psych, business, education)... but if you are going for a more specialized degree that isn't offered by that many colleges, then you are sort of stuck at the mercy of having to go wherever the degree is offered; 
and if it's not local, you're going to have to spend much more than if you could have stayed living at home with your family.
Plus, I personally know that middle class students are taking out that much because my family and friends children are spending that much paying back student loans for attending state schools!!!
So while it might be true statistically that the average may not be that high for a majority of all students,  but there are many that are carrying a significant student loan debt, and many of their families are carrying parental loan debts!!!

[dfrecore]

RE: "Don't most 4-year colleges offer business, psychology, and education? Those are the most popular majors in the country."

*** Yes, that was my point, and that is what I said. 
My point being that it might work out fine when you are going to college for a more common degree (psych, business, education)... but if you are going for a more specialized degree that isn't offered by that many colleges, then you are sort of stuck at the mercy of having to go wherever the degree is offered; 
and if it's not local, you're going to have to spend much more than if you could have stayed living at home with your family.
Plus, I personally know that middle class students are taking out that much because my family and friends children are spending that much paying back student loans for attending state schools!!!
So while it might be true statistically that the average may not be that high for a majority of all students,  but there are many that are carrying a significant student loan debt, and many of their families are carrying parental loan debts!!!

I still maintain that if you work at least part-time 20-30 hours a week, and work a TON over breaks and summer, you can pay for a LOT of this.  If you took a year off before going to school and worked 2-3 jobs and socked away every dime, you might be able to get enough of a head start to take out zero to a very small student loan.  Instead, kids think that they couldn't POSSIBLY work through college, and that they "deserve" their breaks to relax instead of work.  Sorry, welcome to the real world, which for most of us means work.

I also question the judgement of any parent that takes out parent plus loans or home equity lines to help their kids go to school.  That's insanity.  My kids will go where we can afford, or find a way to pay for it themselves, because I will not mortgage my future to have them go to college.  Unless they want to be supporting me in my old age because I went into tremendous debt to help them go to school.  Hope you get a big house kids, because Mama is moving in!

Instead, we started planning long ago (not with money) but with expectations for them and for us.  No, debt isn't an option.  With that in mind, where are you wanting to go and what degree do you want to get, and how do we do it without debt?  If that's your plan from the start, you have a much better chance than someone who is suddenly surprised by the fact that their 18yo senior in HS wants to go to college.  I'm pretty sure you knew college was coming...like a while ago.

If you take debt off the table, you'll be surprised with what you come up with for options.  And there are plenty.  2 years at a CC first while living at home?  A gap year, where you work and save?  A less expensive degree closer to home, and then working for a few years to earn enough to pay for your dream degree?  Applying for multiple scholarships?  Getting a job at the school so that tuition is discounted?

So many ways to look at this, without debt as an option.  It opens your eyes to the many other possibilities out there.

[Jenniferinfl]

RE: "Don't most 4-year colleges offer business, psychology, and education? Those are the most popular majors in the country."

*** Yes, that was my point, and that is what I said. 
My point being that it might work out fine when you are going to college for a more common degree (psych, business, education)... but if you are going for a more specialized degree that isn't offered by that many colleges, then you are sort of stuck at the mercy of having to go wherever the degree is offered; 
and if it's not local, you're going to have to spend much more than if you could have stayed living at home with your family.
Plus, I personally know that middle class students are taking out that much because my family and friends children are spending that much paying back student loans for attending state schools!!!
So while it might be true statistically that the average may not be that high for a majority of all students,  but there are many that are carrying a significant student loan debt, and many of their families are carrying parental loan debts!!!

I still maintain that if you work at least part-time 20-30 hours a week, and work a TON over breaks and summer, you can pay for a LOT of this.  If you took a year off before going to school and worked 2-3 jobs and socked away every dime, you might be able to get enough of a head start to take out zero to a very small student loan.  Instead, kids think that they couldn't POSSIBLY work through college, and that they "deserve" their breaks to relax instead of work.  Sorry, welcome to the real world, which for most of us means work.

I also question the judgement of any parent that takes out parent plus loans or home equity lines to help their kids go to school.  That's insanity.  My kids will go where we can afford, or find a way to pay for it themselves, because I will not mortgage my future to have them go to college.  Unless they want to be supporting me in my old age because I went into tremendous debt to help them go to school.  Hope you get a big house kids, because Mama is moving in!

Instead, we started planning long ago (not with money) but with expectations for them and for us.  No, debt isn't an option.  With that in mind, where are you wanting to go and what degree do you want to get, and how do we do it without debt?  If that's your plan from the start, you have a much better chance than someone who is suddenly surprised by the fact that their 18yo senior in HS wants to go to college.  I'm pretty sure you knew college was coming...like a while ago.

If you take debt off the table, you'll be surprised with what you come up with for options.  And there are plenty.  2 years at a CC first while living at home?  A gap year, where you work and save?  A less expensive degree closer to home, and then working for a few years to earn enough to pay for your dream degree?  Applying for multiple scholarships?  Getting a job at the school so that tuition is discounted?

So many ways to look at this, without debt as an option.  It opens your eyes to the many other possibilities out there.

I've seen many college degrees derailed by that job that was supposed to get you through college. I was a manager at Walmart. I didn't do it, but, several managers sold gullible college kids the idea that they would be a co-manager making $70k a year in no time and that they didn't need college. As soon as gullible kid drops out, they gradually realize they are really just going to be a stocker forever.

I haven't met many people that actually successfully worked their way through college or if they did do that, it took them several years longer. Time is money. I'm 36 and make $12 an hour working fulltime in a paraprofessional position in a public library. I teach computer classes, schedule, teach crafts, process, order, manage inventory, plan events - all that, for $12 an hour. I should have finished a real degree 10 years ago. I've had to work and cobble together a college degree. I was laid off and unable to find employment at all from Dec 23, 2008 until October 2012. Think of all that lost value! Even if I had gotten a lame duck of a degree, I probably still would have cleared $40k a year. I missed out on earning $160K in just those years I was unemployed. I've never earned more than $25k annually. Basically, not finishing a degree has cost me at the very minimum around $300,000 since the age of 23, the age most people finish college.

I think back and wish I could time travel and just get the damn loan. I should have just got the loan and not worked. I would have owed about $20,000. But, really, that's NOTHING compared to what I missed out on earning.

My kid will not be working through college. We will bargain hunt college like crazy, but, she will not be working during college at all unless it's an internship. Looking at the graduation statistics for state and community colleges is really alarming. Working through college doesn't work for most people.

[dfrecore]

I still maintain that if you work at least part-time 20-30 hours a week, and work a TON over breaks and summer, you can pay for a LOT of this.  If you took a year off before going to school and worked 2-3 jobs and socked away every dime, you might be able to get enough of a head start to take out zero to a very small student loan.  Instead, kids think that they couldn't POSSIBLY work through college, and that they "deserve" their breaks to relax instead of work.  Sorry, welcome to the real world, which for most of us means work.

I also question the judgement of any parent that takes out parent plus loans or home equity lines to help their kids go to school.  That's insanity.  My kids will go where we can afford, or find a way to pay for it themselves, because I will not mortgage my future to have them go to college.  Unless they want to be supporting me in my old age because I went into tremendous debt to help them go to school.  Hope you get a big house kids, because Mama is moving in!

Instead, we started planning long ago (not with money) but with expectations for them and for us.  No, debt isn't an option.  With that in mind, where are you wanting to go and what degree do you want to get, and how do we do it without debt?  If that's your plan from the start, you have a much better chance than someone who is suddenly surprised by the fact that their 18yo senior in HS wants to go to college.  I'm pretty sure you knew college was coming...like a while ago.

If you take debt off the table, you'll be surprised with what you come up with for options.  And there are plenty.  2 years at a CC first while living at home?  A gap year, where you work and save?  A less expensive degree closer to home, and then working for a few years to earn enough to pay for your dream degree?  Applying for multiple scholarships?  Getting a job at the school so that tuition is discounted?

So many ways to look at this, without debt as an option.  It opens your eyes to the many other possibilities out there.

I've seen many college degrees derailed by that job that was supposed to get you through college. I was a manager at Walmart. I didn't do it, but, several managers sold gullible college kids the idea that they would be a co-manager making $70k a year in no time and that they didn't need college. As soon as gullible kid drops out, they gradually realize they are really just going to be a stocker forever.

I haven't met many people that actually successfully worked their way through college or if they did do that, it took them several years longer. Time is money. I'm 36 and make $12 an hour working fulltime in a paraprofessional position in a public library. I teach computer classes, schedule, teach crafts, process, order, manage inventory, plan events - all that, for $12 an hour. I should have finished a real degree 10 years ago. I've had to work and cobble together a college degree. I was laid off and unable to find employment at all from Dec 23, 2008 until October 2012. Think of all that lost value! Even if I had gotten a lame duck of a degree, I probably still would have cleared $40k a year. I missed out on earning $160K in just those years I was unemployed. I've never earned more than $25k annually. Basically, not finishing a degree has cost me at the very minimum around $300,000 since the age of 23, the age most people finish college.

I think back and wish I could time travel and just get the damn loan. I should have just got the loan and not worked. I would have owed about $20,000. But, really, that's NOTHING compared to what I missed out on earning.

My kid will not be working through college. We will bargain hunt college like crazy, but, she will not be working during college at all unless it's an internship. Looking at the graduation statistics for state and community colleges is really alarming. Working through college doesn't work for most people.

Actually, statistics say that if you work part-time through college, your chances of graduating go up, and your GPA is higher.

I didn't say work somewhere and don't finish your degree - I said work part-time (at a job that's probably going to convince you that college is the way to go rather than the other way around), to help pay for college.  It makes kids more responsible, and teaches them time-management skills.  We can afford to send our kids to school, and we will STILL make them work part time.  I don't care how much money my husband and I have, they need to learn those life lessons.  The sooner the better.  My husband is actually a little annoyed that they're not working in high school, but they do 3 sports each so there's not enough time.

Here is 1 study that shows 15-20 hours is better for students at 4yr schools (and >20 hrs is better for CC students): http://www.bu.edu/today/2009/working-may-help-your-gpa/