10-17-2014, 12:16 PM
(This post was last modified: 10-17-2014, 12:29 PM by cookderosa.)
I'm not a fan of "blame the victim" but I don't like the attitude of helplessness that people have when it comes to student loan debt.
I think somehow there is an assumption that we must bow at the altar of higher education at all costs; no matter the cost, it will be "worth it" ...... It's simply an attitude of acceptance that people blindly march on in- sign up- and worry later.
I'm not saying you shouldn't ever borrow money, but it should never be first. And for many people, it's first.
I can't tell other what to do, but in my own family, I'm busting my rear to make decisions for our family (that includes my husband and I who each earned multiple degrees as an adult). Are you attending a community college that will guarantee your transfer and admission to a 4 year school? Have you used as many cheaper options as possible to bring credit into your community college degree? (CLEP/AP/DSST/ACE, transfer credit from other CC's with lower tuition via online learning) Are you living with your parents instead of an apartment for those 2 years? Is your school in-state/in-district so you're eligible for the lowest tuition rates? Are you eligible for a Pell Grant (if so, you don't need to borrow a single penny to get through community college). Are you doing a part time job or work study? Are you buying your books used? These are real factors we used in our decisions, and when guiding our kids.
Upon transfer: Are you living on campus so you can avoid the cost of a car? Are you in state? Are you completing a major with an easily identifiable career path? (nursing school = nurse) Are you meeting people in your career field and volunteering in your down time to build a network that can land you entry level employment over the summer or immediately after graduation? (6 months grace isn't as long as people think). Is your social life limited to cheap/free/activism/hobbies/clubs/sports/exercise or is it filled with dating/parties/restaurants?
In our family, we've made a big move in 2012. My husband took a job at a university that allows our family (including me) free tuition. That's a half million dollars if all my children and I earn only 1 degree. The university offers graduate degrees at 90% discount, you can bet by the time he retires, that school will know "DeRosa" in their halls lol. Furthermore, we make the kids pay cash for everything. So what it you have to work a year and resume studies next year?! A year of working SO THAT you can pay cash trumps a life of student loans. Remember, if your kids get married, they'll also incur the debt of their spouse.
I also don't accept that there is only one college or the best college as a means of justifying cost. It's probably because I'm too old and read too much social science. The variables in one's future are unimaginable. If you fall on hard times, you'll be happy you don't have student loan debt.
I think somehow there is an assumption that we must bow at the altar of higher education at all costs; no matter the cost, it will be "worth it" ...... It's simply an attitude of acceptance that people blindly march on in- sign up- and worry later.
I'm not saying you shouldn't ever borrow money, but it should never be first. And for many people, it's first.
I can't tell other what to do, but in my own family, I'm busting my rear to make decisions for our family (that includes my husband and I who each earned multiple degrees as an adult). Are you attending a community college that will guarantee your transfer and admission to a 4 year school? Have you used as many cheaper options as possible to bring credit into your community college degree? (CLEP/AP/DSST/ACE, transfer credit from other CC's with lower tuition via online learning) Are you living with your parents instead of an apartment for those 2 years? Is your school in-state/in-district so you're eligible for the lowest tuition rates? Are you eligible for a Pell Grant (if so, you don't need to borrow a single penny to get through community college). Are you doing a part time job or work study? Are you buying your books used? These are real factors we used in our decisions, and when guiding our kids.
Upon transfer: Are you living on campus so you can avoid the cost of a car? Are you in state? Are you completing a major with an easily identifiable career path? (nursing school = nurse) Are you meeting people in your career field and volunteering in your down time to build a network that can land you entry level employment over the summer or immediately after graduation? (6 months grace isn't as long as people think). Is your social life limited to cheap/free/activism/hobbies/clubs/sports/exercise or is it filled with dating/parties/restaurants?
In our family, we've made a big move in 2012. My husband took a job at a university that allows our family (including me) free tuition. That's a half million dollars if all my children and I earn only 1 degree. The university offers graduate degrees at 90% discount, you can bet by the time he retires, that school will know "DeRosa" in their halls lol. Furthermore, we make the kids pay cash for everything. So what it you have to work a year and resume studies next year?! A year of working SO THAT you can pay cash trumps a life of student loans. Remember, if your kids get married, they'll also incur the debt of their spouse.
I also don't accept that there is only one college or the best college as a means of justifying cost. It's probably because I'm too old and read too much social science. The variables in one's future are unimaginable. If you fall on hard times, you'll be happy you don't have student loan debt.
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