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laxbro posted:500k+ for college expenses Are we sending his hypothetical children to Australia for college and putting them up in 5-star hotels?
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Jun 13, 2014 05:23
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Jastiger posted:WHAT DO I DO? You should start your own thread already. SloMo's is boring, and you're potentially sitting on a gold mine.
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Jun 13, 2014 06:58
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EugeneJ posted:Are we sending his hypothetical children to Australia for college and putting them up in 5-star hotels?
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Jun 13, 2014 07:10
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i like nice words
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Old Fart posted:You should start your own thread already. SloMo's is boring, and you're potentially sitting on a gold mine. Don't quote him! Every time someone responds to him, he comes in here and shits up this thread more with his stupid repetitive bullshit and complete inability to follow simple instructions. If he can't be bothered to follow advice like, "talk to your wife," "set up a budget," "this is how to handle a windfall," what in the gently caress makes you think he's going to make his own thread? If it doesn't involve self flagellation with stale popcorn and a complete inability to communicate like an adult, I don't think he's interested. Bad with money/bad at life: people spending $10k+ a year for at least 2 years to get certified in a job that 1. A high schooler could do and get certified simply by picking it up on the job 2. Makes $27k a year with several years of experience. This position requires a certification, not a degree. Education requirement is only a GED or high school diploma. BonerGhost fucked around with this message at 08:37 on Jun 13, 2014 |
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Jun 13, 2014 08:31
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Old Fart posted:You should start your own thread already. SloMo's is boring, and you're potentially sitting on a gold mine. His E/N threads have been pretty spectacular, I don't see why his BFC counterpart wouldn't be even better! Although I'd rather hear about his terrible decisions in this thread than any of the retarded derails we've had, or goons bragging about how I don't make bad decisions. At least Jastigar is on topic. Here is his last E/N thread (which is pretty much a BFC thread, definitely worth the read) http://forums.somethingawful.com/showthread.php?threadid=3572558 And for context into his relationship with his wife, here is his old original E/N thread: http://forums.somethingawful.com/showthread.php?threadid=3550669 Switchback fucked around with this message at 13:09 on Jun 13, 2014 |
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Jun 13, 2014 12:15
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EugeneJ posted:Are we sending his hypothetical children to Australia for college and putting them up in 5-star hotels? Sending them to Australia would likely be way cheaper than any out-of-state US option. The only way I'll ever be paying my kids' college expenses is if they go to college outside the US. The college cost trend is going to reverse when people can't pay the loans, which is going to be soon.
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Jun 13, 2014 13:27
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Bah just let that thread die, you butt. Turns out I had miscounted and its only $80, but I'm only keeping $20 for a food budget for the rest of the month. The other 60 is going to be tucked away until I need it for more expenses. My goal is to only keep $20 on me at all times for extraneous expenses like today where we're out of lunch stuff so I'll have to drop $3 on food. I bet I can make this $80 last 3 months. I made my last $20 go a month and a half. I think this is a good move, no?
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Jun 13, 2014 13:48
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I've always operated under the idea that the cost of a college education is roughly the price of a house. Available debt drives both prices, and both ballooned under the last decade's easy availability of debt. My theory is failing right now, because this is the first time the price of a house has gone down in the US. College is under a different set of stimuli, because there's not an effective alternative for education like renting is for housing. And, public policy is based around access to a college education. And any policy that dries up the debt for college will also reduce access. So the government is effectively funding college through the IBR system. The problem will get worse until we find a solution that provides access without providing money. So, basically, tuition prices will keep going up.
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Jun 13, 2014 13:50
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I think it's far more likely that the bubble bursts in Higher Ed long before the cost of college reaches $250,000 per student. Not enough to try to put money on it, but I think it's pretty unlikely that nothing changes over the next 15-20 years.
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Jun 13, 2014 14:09
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xie posted:I think it's far more likely that the bubble bursts in Higher Ed long before the cost of college reaches $250,000 per student. Not enough to try to put money on it, but I think it's pretty unlikely that nothing changes over the next 15-20 years. Bubble's already leaking IMO. Federal grants are drying up and newer scientists/researchers are scrambling to find funding everywhere. Their employers have been picking up the slack for now but FY15 will be when salaries start getting cut and folks start getting let go. The days of NSF/NIH etc. throwing money at everything are over. Getting funding has gotten way more competitive and most of it's going to seasoned/experienced researchers. The next shoe to drop will be demand, people are finally realizing saddling themselves with 100k in debt to make coffee or (if they're lucky) create pivot tables is not the best idea.
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Jun 13, 2014 14:27
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I don't think the bubble is so much in grad school as it is in undergrad tuition, though.
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Jun 13, 2014 14:36
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Matriculation is already decreasing at law schools and for-profit schools, but they are the leading edge of bad investments. I just don't see that trend having a meaningful impact on undergrad tuition unless there is some policy change. The IBR system will continue to inflate debt. If you can afford it, then you'll pay. If you can't afford it, then the government will pay. Lenders have absolutely no incentive to dry up the pool. So there's no reason for colleges to reduce tuition. Best deal now seems to be taking out a fortune in loans, like $200k, then work in public service for 10 years. If you can find a low end job that qualifies, you can consider your salary boosted by $20k a year when the government eventually pays off the debt. (Assuming I understand IBR like I think I do.)
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Jun 13, 2014 14:48
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FrozenVent posted:I don't think the bubble is so much in grad school as it is in undergrad tuition, though. At research universities grad students have to work on certain grants with a professor or whatever, and they get benefits/stipends/insurance paid for either from F&A money from those grants, or with money from the grants themselves (usually the former.) If there's less grant money there's less F&A so either the school has to fund more of the expenses themselves or they admit less grad students. And the tuition for most professional school is just as ridiculous as undergraduate.
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Jun 13, 2014 14:51
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EugeneJ posted:Are we sending his hypothetical children to Australia for college and putting them up in 5-star hotels? If you send two children to school with all expenses paid you'll easily break 500k. Conservative estimate of 30k a year for 6 years of undergraduate + graduate is 180k. So you're already approaching 360k if you send two children to expensive state schools or cheap private schools. God forbid your baby gets into an ivy league and you have to shell out 50k a year. On the other hand college can be pretty cheap if you make your kids do community college for two years then go to the local state school for instate tuition. Could get an undergraduate degree for about 50-60k if you can convince your kid to go to community college. Edit: Also, weren't they talking about capping the public service worker 10 yr program at 60k of student debt? The lawyer thread was getting pretty heated about it. grenada fucked around with this message at 15:11 on Jun 13, 2014 |
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Jun 13, 2014 15:07
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If you are actually taking out the full tuition in loans then you drat well should finish in fewer than 4 years, and should probably reconsider whatever grad school you got into that won't fund you at all.
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Jun 13, 2014 15:12
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Folly posted:Best deal now seems to be taking out a fortune in loans, like $200k, then work in public service for 10 years. If you can find a low end job that qualifies, you can consider your salary boosted by $20k a year when the government eventually pays off the debt. (Assuming I understand IBR like I think I do.) So this is where I get to call my girlfriend out for being Bad With Money. She took out $40-45k in loans for graduate school (necessary in her field and she does work in the field) and then privately consolidated all of her loans, completely and utterly removing all possibility for loan forgiveness. She makes under 40k per year and probably could have paid almost nothing for 10 years. I have no idea why she consolidated, none at all. It was before we met.
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Jun 13, 2014 15:13
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laxbro posted:Edit: Also, weren't they talking about capping the public service worker 10 yr program at 60k of student debt? The lawyer thread was getting pretty heated about it. It also wouldn't come close to being able to cover everyone in that situation; even if no one who has no debt went into public service. As a solution this is just a little bit shy of "why don't you just win the lottery?" in terms of unhelpfulness.
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Jun 13, 2014 15:19
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laxbro posted:Edit: Also, weren't they talking about capping the public service worker 10 yr program at 60k of student debt? The lawyer thread was getting pretty heated about it. Hadn't heard that. I haven't paid attention to IBR policies since I got out a couple of years ago. I paid for my degree with cash. In my current situation, it was the right call. My income is now high enough that IBR wouldn't help me much. About the time I was graduating without a job lined up, it felt like I should have debt financed. It took some discipline to avoid being jealous of my classmates who had better options after I'd saved for 10 years to pay for my degree. Also, the fact that the degree hasn't helped me at all makes it worse. They couldn't have gotten that loan for much anything else. My money had other options and thus greater economic cost. As a policy goes, I'm kinda on the fence about it. On the one hand, public defenders should be paid more. On the other hand, social workers and most teachers probably shouldn't be expected to have graduate degrees.
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Jun 13, 2014 15:27
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It's also going to cause a ton of resentment amongst professionals who already work in public service. If you're a dyed in the wool social worker, counselor, or teacher or whatever and all of a sudden there are tons of recent grads with Masters/JDs/Whatever showing up wanting to work for ten years then bail, well gently caress them.
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Jun 13, 2014 15:27
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Dijkstra posted:It's also going to cause a ton of resentment amongst professionals who already work in public service. If you're a dyed in the wool social worker, counselor, or teacher or whatever and all of a sudden there are tons of recent grads with Masters/JDs/Whatever showing up wanting to work for ten years then bail, well gently caress them. See: career teachers vs. Teach For America.
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Jun 13, 2014 15:59
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Jastiger posted:Bah just let that thread die, you butt.
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Jun 13, 2014 16:14
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VideoTapir posted:
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Jun 13, 2014 16:27
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loving hell. Reading about student debt in the US makes me so loving glad that I'm in a country where there aren't any tuition fees. I'll have about $55k (at a very low interest) of debt when I'm done with medical school (5.5 years).
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Jun 13, 2014 17:17
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I s'pose that this is even worse than r/personalfinance but if it's shadenfreude you're after, it's schadenfreude you'll get. There is way too much for me to even know where to start summarising but it's basically a strong contender for zwife 2.0 in a relationship set to implode in a debt-ridden dramabomb.
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Jun 13, 2014 17:38
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Holy poo poo, the wife bought a house without telling him.
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Jun 13, 2014 17:41
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Eden posted:I s'pose that this is even worse than r/personalfinance but if it's shadenfreude you're after, it's schadenfreude you'll get. I lost it at "2 llamas"
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Jun 13, 2014 17:52
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xie posted:I have no idea why she consolidated, none at all. It was before we met. There was a period of time where consolidation was the hot thing to do because you could get significantly lower interest rates. Of course, that time is gone but there are still people who think it's a thing that you are supposed to do. My wife was dead set on consolidating because she hated needing to keep track of four different accounts between three institutions. If I didn't know better and agree to take over managing them for her, she'd be stuck in some crappy consolidation deal too. MrOnBicycle posted:loving hell. Reading about student debt in the US makes me so loving glad that I'm in a country where there aren't any tuition fees. I'll have about $55k (at a very low interest) of debt when I'm done with medical school (5.5 years). The sad thing is, a lot of the student debt isn't even from tuition; people want to go off and live on their own, without a job, but keep up the same middle class lifestyle their parents were maintaining.
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Jun 13, 2014 17:52
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waffle posted:I think $80 is likely a pretty miniscule amount of your income that if you really want to try to save more and pay more on debts, you need to create a full budget and assess which parts could be most easily cut. I'm willing to bet it won't be difficult to find a good bit more than $80/mo in savings if you just put together a budget together. We did. It works out to about $100 extra a month that isn't spoken for in bills. I'd rather put it all back towards debt, but I also don't want to live a spartan lifestyle devoid of joy or socialization. I think we've got it figured out too if my bonuses are consistently what they have been.
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Jun 13, 2014 18:01
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SiGmA_X posted:I would have assumed you would get married before adopting, but that isn't always the case. You probably need more income to do what you're wanting to do. Maybe tutor on the side? Well, of course I'd like to get married, I just don't want to assume it'll happen. laxbro posted:You can earn a solid middle class lifestyle with teaching, maybe even upper middle class if you get married and have dual income. Teachers in decent school districts start at about 45k for 10 months work and then can add on another 5k if you work during the summer. You can get another 2-3k if you coach or do an after school activity. Older teachers in leadership positions earn 90-100k and administrators earn 100-130k. What mythical school district is this where teachers can earn 90K?  I need to move there. AISD's teacher salaries (with a Master's and a Special Education stipend) cap out at about 65K.
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Jun 13, 2014 18:07
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Eden posted:I s'pose that this is even worse than r/personalfinance but if it's shadenfreude you're after, it's schadenfreude you'll get. "why does the dog get to eat better than I do? " Lol. This is like a movie.
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Jun 13, 2014 18:13
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EugeneJ posted:I lost it at "2 llamas" I too, lost it at the 2 llamas, then lost it again when he said that the ducks have stolen his parking space in the garage 
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Jun 13, 2014 18:21
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Pinball posted:What mythical school district is this where teachers can earn 90K? Boston Public Schools start you at $50k and you hit $68k in about 5 years. The average BPS teacher makes $88,000. Where I grew up on Long Island teacher salaries were very similar. One of my roommates just moved in with his girlfriend. She's got 2 masters and he has 1, they're both teachers (one BPS, one another district) and are pulling in over 120k.
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Jun 13, 2014 18:24
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If that's real, his wife sounds quite mentally ill.
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Jun 13, 2014 18:25
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Zhentar posted:The sad thing is, a lot of the student debt isn't even from tuition; people want to go off and live on their own, without a job, but keep up the same middle class lifestyle their parents were maintaining. Just gonna step in and say that this is a malicious loving lie, the majority of fees are absolutely from tuition and statements like this just insinuate that it's the students' fault for poor lifestyle choices or whatever.
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Jun 13, 2014 18:25
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Eden posted:I s'pose that this is even worse than r/personalfinance but if it's shadenfreude you're after, it's schadenfreude you'll get. How in the actual gently caress?
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Jun 13, 2014 18:25
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Zhentar posted:
I finished school with $95,000 in debt after full pell grants, scholarships, worked 35hr per week during school year, as many hours as I could between quarters and I lived in a $300 a mo apartment - 2 bedrooms, 3 people. This was in no way pretending to be middle class. I grew up drinking hot dog water poor so I didn't even understand the concept of people buying sodas and poo poo. That was a loving luxury growing up. America just sucks. I had no clue what I was getting into. Every person in my life was screaming at me to go to college. I cried my eyes out the day I signed for my first loan. Didn't even need a cosigner until 2 years in and $60,000 in debt. "You're so smart and talented! You have to GO!" I've got a pretty great job and i'm snowballing down my loans and am already at $60,000 4 years later but holy poo poo it can be stressful having this much debt hanging over my head. I work for regional government and i'm going to call my HR today to find out if we are technically considered public employees. If so, i'm going to switch to paying minimum and stick this job out for 10 years.
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Jun 13, 2014 18:26
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Oxxidation posted:Just gonna step in and say that this is a malicious loving lie, the majority of fees are absolutely from tuition and statements like this just insinuate that it's the students' fault for poor lifestyle choices or whatever. This depends on where you are though; my technical diploma ran my parents and I something like 20k over four years; of that about $700 was tuition.
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Jun 13, 2014 18:26
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FrozenVent posted:This depends on where you are though; my technical diploma ran my parents and I something like 20k over four years; of that about $700 was tuition. So your school was free? This doesn't really make sense.
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Jun 13, 2014 18:51
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spwrozek posted:So your school was free? This doesn't really make sense. I'm guessing room and board
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Jun 13, 2014 18:54
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spwrozek posted:So your school was free? This doesn't really make sense. Glorious socialism.  Tuition started out at $87 a semester, then sometimes during my second year (I was out on a CO-OP thing) they raised it to $200, couple of weeks of generalized student strikes later they all agreed on something like $127/semester. That included student association fees and like $5 of printer credits, so I can't recall what the actual tuition amount was. The rest was just living expenses, books and poo poo, because of course I had to go to college in The Middle of Nowhere, Quebec.
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Jun 13, 2014 18:55
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