21–30 of 35 posts
She's a doctor. Sure, it's a lot of money, but it sounds manageable on a typical doctor's salary.
Part of the problems is that people who take out these loans are the least educated in personal finance and how to manage money. Unless you have a good parent or counselor guidance behind you, it is very easy to make mistakes that can cost you alot down the road. Maybe it should be a requirement as part of high school curriculum to teach students about personal finance.
It wasn't a bad class (and nicely enough my CS teacher happened to teach it, also), but unfortunately I think it's worse off than math classes as far as getting people to care and thus really remember it for later.
This is making me think twice about taking out student loans to go back and get a BS next spring. I truly doubt that I would be able to, cognitively, work and study at the same time - one of the two would suffer.
So--what are your goals? And how do loans and a BS degree program get you to them?
I can't even imagine paying that kind of money for an education. To make that up would take most of your career for most people when one of the points of an education is to increase your average salary over not having bothered. If the delta between those two doesn't work out for most of your career, you may as well not bother. The interesting bit is that, at least in the U.S., one can go to decent schools relatively…
Whereas say a career as a programmer, there are plenty of back doors and ways to learn and move up without having to get the formal education. There's still the reason to get that education but I can honestly say if I don't end up making back the difference on what I spent on it during my working lifetime it won't worry me at all.
She's a doctor. Sure, it's a lot of money, but it sounds manageable on a typical doctor's salary.
The problem with that statement is that established doctors make a lot of money. Interns and residents who are just starting out don't. Half a million in debt doesn't sound so bad if you can count on a $200,000 salary. Half a million in debt is terrifying when you only make ~$40,000 a year for the next four to eight years depending on your chosen specialty.
Correct me if I'm wrong, it's just the perception I have seemed to get about some fields from things I have read.
This is what happens when the government interferes with the free market! The supply of virtually unlimited, guaranteed federal loans has created a moral hazard. Loan companies don't care to hand out risky loans because they have the backing of the federal government. Since students have access to so much "free" money, they are entering colleges in droves, effectively bidding up tuition prices for the rest of us. Wit…
At any link in the chain, someone could have said "this is a bad idea" and stopped--but instead they do what's in their own (short-term) best interest, and everyone loses.
Part of the problems is that people who take out these loans are the least educated in personal finance and how to manage money. Unless you have a good parent or counselor guidance behind you, it is very easy to make mistakes that can cost you alot down the road. Maybe it should be a requirement as part of high school curriculum to teach students about personal finance.
It is, at least in the state of Utah. I had to take a class called Financial Literacy. It wasn't a bad class (and nicely enough my CS teacher happened to teach it, also), but unfortunately I think it's worse off than math classes as far as getting people to care and thus really remember it for later.
This is making me think twice about taking out student loans to go back and get a BS next spring. I truly doubt that I would be able to, cognitively, work and study at the same time - one of the two would suffer.
This is making me think twice about taking out student loans to go back and get a BS next spring. I truly doubt that I would be able to, cognitively, work and study at the same time - one of the two would suffer.
You don't need to go to university to study. In fact, if you're actually motivated to learn, it's almost as likely to get in the way. There are certainly some potentially good reasons for going to university, but if you don't have your goals firmly aligned with such reasons, you'll just waste your time and money. So--what are your goals? And how do loans and a BS degree program get you to them?
I've tried to teach myself the math involved, but I've come to the conclusion that to really learn it I'll need courses in it. It's mainly the math, I think, that I'll have "trouble" (actually have to study) with - not the programming.
Without loans, I'd have to work full time to support myself. This would cause my performance at school to suffer, unless I took a barista/service type job. Which I'm not sure I could support myself with (to be honest, I don't know how the baristas here in NYC do support themselves with it). I've been out of the service industry since my first go-around at college, and have no desire to return whatsoever.
With loans, I'll be able to concentrate fully on the work involved, and perhaps have time left over to build a few cool things that I don't have time for now.
A BS degree program will get me the background in maths (Bayesian theory, calculus, linear algebra, statistics) and advanced computer science (ANNs, GAs, compiler design) that will get me to the place I really want to be: advanced/next-gen datamining and knowledge systems. I'd really like to be working on how to analyze how people connect and predict trends based upon it. (Yes, I understand that many privacy people, including myself, have issues with such a thing. It's something I'm fascinated with, but have moral qualms about implementing. Also, lack of experience/know-how.)
This is making me think twice about taking out student loans to go back and get a BS next spring. I truly doubt that I would be able to, cognitively, work and study at the same time - one of the two would suffer.
Go to another country/state where education is a significantly cheaper? Europe maybe?