minnesotapaintlady
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Post by minnesotapaintlady on Mar 17, 2023 8:48:50 GMT -5
I should recruit from the Paying for College Facebook page. Plenty of people setting themselves up for financial ruin over there.  lol, like I did? spoiler: it turned out ok for me  It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with.  Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening.  (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Mar 17, 2023 9:19:48 GMT -5
lol, like I did? spoiler: it turned out ok for me It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with. Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening. (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
I could also be jumping the gun as I have cheerfully not paid on the loans during the pause I'd look up the balances to see if I owed more on me or on DD, but I don't even know where they are at the moment....been moving around different companies over the past 2-3 years....combined balance was about 102k, and all loans were at 0%, no payment. According to 2013 dollars website.... $102,000 in 2023 is worth $87,750.27 in 2020 So it's kind of like I paid off 13k the past few years.  |
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tractor
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Post by tractor on Mar 17, 2023 21:05:17 GMT -5
lol, like I did? spoiler: it turned out ok for me It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with. Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening. (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
Good luck with that. I'm still trying to help my newly minted engineer (from a highly rated school) find a job. It's not as easy as the schools make it sound. Perdue is a great school, but an extra $40K in loans is a large hurdle to overcome. |
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nidena
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Post by nidena on Mar 18, 2023 9:36:01 GMT -5
lol, like I did? spoiler: it turned out ok for me It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with. Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening. (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
I wouldn't recommend Purdue to anyone right now. They are in the process of unwinding from their braid with IU and although it's supposed to be seamless, I just don't see it being so. |
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stillmovingforward
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Post by stillmovingforward on Mar 18, 2023 22:03:56 GMT -5
It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with. Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening. (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
Good luck with that. I'm still trying to help my newly minted engineer (from a highly rated school) find a job. It's not as easy as the schools make it sound. Perdue is a great school, but an extra $40K in loans is a large hurdle to overcome. I thought he had a job?! |
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tractor
Senior Member
Joined: Jan 4, 2011 15:19:30 GMT -5
Posts: 3,499
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Post by tractor on Mar 19, 2023 19:55:38 GMT -5
Good luck with that. I'm still trying to help my newly minted engineer (from a highly rated school) find a job. It's not as easy as the schools make it sound. Perdue is a great school, but an extra $40K in loans is a large hurdle to overcome. I thought he had a job?! He had a six month assignment (temp job), the company decided to do away with their engineering temps, so he's looking again. At least he's gaining some experience along the way. |
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Opti
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Post by Opti on Mar 19, 2023 20:21:23 GMT -5
lol, like I did? spoiler: it turned out ok for me It doesn't for a lot of people though. So many are struggling with debt forever, and then they can't afford to save for their own kid's college. I just scratch my head when I hear people say "a few hundred a month in student loans won't be anything". Ok, if a few hundred in loans isn't "anything", then how come do you not have any college savings for them? Why isn't a few hundred a month towards that also "nothing". I mean $200/month and my kid had 85K to work with. Recent posts.
My daughter can go to UT for 20K/year and graduate with no debt, but her heart is set on Penn State which gave her NOTHING and is on the other side of the country so we'll have to factor flights in there as well. We are going to have to borrow 30-40K/year for her to attend. I wish she would just choose UT, but it's not happening. (Kineseology degree btw) My son was accepted to Purdue, WI, and Iowa State for engineering. Purdue is going to be 140K in loans, WI 100K and ISU 70K. We are leaning towards Purdue because our "advisor" told us that the brand name mattered and an extra 40K in loans is not significant considering the job offers he'd be getting (apparently Iowa they crossed off the list entirely I guess because something that cheap couldn't be good). I just can't with this stuff.
I'm glad I'm not reading this stuff. Purdue is a good school, but all those loans are pretty severe. They should try to get the son in a co-op program then if they are that concerned with jobs after graduation. My first degree was at a bad time to leave and get a job, so I stayed for a master's degree. I think the pandemic has screwed up hiring and how companies operate so it's likely a very tough time for most graduating engineers. The pandemic has screwed up jobs in general except for some better paid folks and those that worked at Zoom. I think the fallout is still happening but hopefully things will be significantly better in four years from now. |
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stillmovingforward
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Post by stillmovingforward on Mar 19, 2023 21:28:06 GMT -5
IDK - we're desperate for engineers here in the west coast. I think a lot of the universities overestimate what a new engineer can make but we have lots of jobs open around me.
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