College costs shocked me...

[ZZman]

I know college debt is crushing many if not most graduates but I never really looked into it until yesterday.

I am 40 years from my college days. My daughter 10 years. I went the community college route, lived at home, worked and paid 18.00 a credit hour.

I looked up my old college and it is now $ 103.00 a credit hour.

I looked up my daughter's college and some other state 4 year colleges and the yearly costs were about $24,000 a year. I was shocked as I was thinking it would be in the $ 15-17,000 range.

It got me thinking that even if a student worked part time while in school they could still easily be $ 40-50,000 in debt when they got out.

That is shocking and depressing.

 

[SwampSurvivor]

10 years out for me. Even going to a state school and working quite a bit, I'm still paying for it. Biggest mistake I've made so far. Of course, when you're a naiive 16 year old and everyone around you is telling you that you'll never have a good job or make any money without going to college, that's what you do.

 

[Huie83]

Yep, this is where I am at. I worked and paid as much as I could out of pocket, around $15K. I had to pay to live as well. Granted, I switched majors after a year and was in college for a little over 5 years which didn't help, but still have a $40K bill.

It is what it is. Is it ridiculous, yes! However, I wouldn't of scored my current job without a degree and am making over 6 figures now so I think it was worth it.

I do wish the "counselors" at the colleges had more guidance on how much school actually costs. When I entered college I had no idea what that bill actually meant in reality once I graduated. A minimum of $4-700 a month is a lot for a recent grad and a long payback commitment that you have to come to terms with.

 

[BigD1]

My son went to Lenoir Rhyne College. Full time on campus total tuition and room and board is $49,910 right now. Pretty sure that does not include books because he was always needing help on books. He did work part time on campus in the library.


https://www.lr.edu/admission/undergraduate/cost-of-attendance

 

[ZZman]

Originally Posted by BigD1
My son went to Lenoir Rhyne College. Full time on campus total tuition and room and board is $49,910 right now. Pretty sure that does not include books because he was always needing help on books. He did work part time on campus in the library.


https://www.lr.edu/admission/undergraduate/cost-of-attendance


Omg.... $50,000 a year?

 

[Kestas]

Back in the late 70s, my 6 years at the University of Michigan cost $6000 in tuition. I feel for today's kids. Inflation does not explain the disparity between then and now.

Looking back, it would have been silly to not take advantage of a college education back then.

 

[WyrTwister]

If you are making 6 figures , you got a good deal . Pay it off , with a smile on your face .

Why does it cost so much ? Some one has to pay all those air head academics . And the administration .

There is a saying that was told to me by a professor . Those that can , do . Those that can not do , teach . Those that can not teach , go into administration .

I paid off my college loan and did not insist Uncle Sugar bail me out . Far as I am concerned , everyone can do so , too . Or go on to be a first responder . Think they get some sort of brake ?

 

[Quattro Pete]

My grad school was $10K+ per semester, and that was 20 years ago. Luckily, I qualified for partial scholarship.

 

[Andrew1972]

My entire education cost $35k for 4 years of engineering in state school and was able to pay about $6k/year myself working and dad kicked in rest in 1990 - 1994.

The upside was walking out of university and starting an engineering job for $35k/year. The issue now is cost is more towards $110k for same degree and starting pay similar job is around $60k.

 

[Mr Nice]

Get school loan and pay it back.

Or join the Reserves and get your education paid.

 

[Fawteen]

There are a lot of reasons why the cost of college has skyrocketed. Between a campus that looks more like a 5 star resort, student "needs" such as extensive career services to psychological counseling to heightened campus security, research that has no impact on education, administrative bloat, overblown sports, and a guaranteed loan system that allows colleges to increase their prices without recourse.

Top that off with students who are already in debt for college, but have to go buy/lease a shiny new vehicle, and are paying through the nose for it and then gripe about student loan debt.

 

[Andrew1972]

Originally Posted by Mr Nice
Get school loan and pay it back.

Or join the Reserves and get your education paid.


School loan is the easy sign a paper route many take. A better method is smarter on college choice and location/cost. Also if another state university with lower tuition. Hang out a year, make residence work and become a resident as opposed to paying out of state tuition.

 

[BISCUT]

My oldest daughter just left to Geneseo, a NY State University (SUNY). First year tuition and board is $27K. That is IN STATE resident cost.

 

[Snagglefoot]

A website I checked suggests tuition at private colleges averages $35,000 and public state college for in-state students averages $10,000 per year.

 

[javacontour]

My daughter graduated H.S. with her associates for under $7000, so she only needed another 60 or so hours for her bachelor degree. She is working at Starbucks and going to ASU on-line as they do tuition reimbursement.

She'll graduate with two degree as she is double majoring in Urban Planning and Sustainability. Not bad degree choices given what our future holds. More people and the same amount of resources on the planet.

No debt either, while earning close to $15/hour now at Starbucks as a shift supervisor.

I went on an ROTC scholarship and got two engineering degree. I did have to pay for my 9th semester as my scholarship had run out. No big deal really.

 

[Pew]

Illinois state universities are nearly 30K/year for in-state after room/board/fees and almost 40K/year for out-of-state students.

Originally Posted by Mr Nice
Or join the Reserves and get your education paid.


I wouldn't exactly call $400/month getting paid. Plus the time away from work and school for drill for minuscule pay.

 

[atikovi]

Remember in the early '80s my bill was a bit over $500 a semester in-state rate and I commuted 17 miles each way. Only expenses were books, gas and lunch.

 

[Bud]

My Uncle paid for the bulk of my college. But let me tell you, I earned it.

 

[Rolla07]

Our Universities up here are the cheapest. Alot of USA students come here.

 

[ZZman]

Originally Posted by Snagglefoot
A website I checked suggests tuition at private colleges averages $35,000 and public state college for in-state students averages $10,000 per year.


Add books, room and board etc....