Debt from an Overpriced Education

[artsfartsyjanet]

Sometimes I wonder if all the excessive naked statues on my campus is contributed by my money. I realize that my degree is worth $120,000 by the time I graduate this May. The tuition alone is $20,000 on average at Saint Louis University. If it weren't for my scholarships, I wouldn't have to take out more than one loan, but I'm still in debt and continue to be in debt until I get my master's degree. Some of my friends will be over $70,000 in debt while others aren't even in debt at all. What is your tuition at your school, and how much are you in debt? How are you paying for your tuition and other expenses at school?



<!--EDIT|artsfartsyjanet|Aug 21 2002, 09:26 AM-->

[AliBabaIncorporated]

private scholarship pays part of my tuition. my grandmother pays the other half. i gotta pay rent and living expenses, so i work part time as a TA and part time at a textbook publishing company. should have gone to NYU where they were offering me a scholarship but instead I went Ivy, $23,000 a year just for tuition, not including activities fees, meal plan (which i dropped off), dorm fees, etc. From time to time I tend to regret it, and not just cuz of finances either.

but what really pisses me off is that they're charging me an extra $1500 fee to take a leave of absence for study abroad. basically I have to pay them money NOT to study there. and all it goes towards is a ridiculously overstaffed office which is full of information you could find on the Web, an annoying newsletter, and travel expenses for the study-abroad directors to fly all over the world and meet in person with study-abroad directors at other universities.

[thaite]

:: groan ::

I work myself to the bones paying out and staying out of more debt. At the moment students loans are the only other thing I owe, other than a $120 balance on my credit card, to be paid off at the end of this month.

[amietron]

So do you think public universities are better than the private ones? Cus I recently got admissions packets from USC, Boston College, and Boston Univ., all of which are private schools. Should I stick to public schools? I think my parents are going to be paying my way. I dunno. ;/

[Arex]

Originally posted by amietron@Aug 21 2002, 06:49 PM
So do you think public universities are better than the private ones? Cus I recently got admissions packets from USC, Boston College, and Boston Univ., all of which are private schools. Should I stick to public schools? I think my parents are going to be paying my way. I dunno. ;/
Define "better." Some private schools kick ass, some aren't so great. Same goes for public schools. Since I was just going with the flow and didn't really have a clear plan on what I wanted study or do post-college, I ended up only applying to public schools as I didn't see the need to incur the insane debt that usually accompanies a private school education (absent grants and scholarships). If you don't know what you want to study or what type of school you want to go to (size, atmosphere, curriculum), I think it's a good idea to just apply to the best schools you stand a reasonable chance of getting into, whether public or private, and then evaluate your choices. Obviously, if given the choice between two schools that offer comparable educations and that'll both get you where you want to be, the public school will generally save you a grip of $$$.


Alex



<!--EDIT|Arex|Aug 21 2002, 07:25 PM-->

[deez nuts]

Originally posted by amietron@Aug 22 2002, 02:49 AM
So do you think public universities are better than the private ones? Cus I recently got admissions packets from USC, Boston College, and Boston Univ., all of which are private schools. Should I stick to public schools? I think my parents are going to be paying my way. I dunno. ;/
I wouldn't deter USC to go to Boston U or Boston College. Look at the public schools like Berkely, UCLA, hell most of the UC schools, Univ. of Michigan Ann Arbor, UNC Chapel Hill etc etc, they are equal if not better to a lot of private schools. Hell, I would've loved to go to UCLA or UCSF med school, but it's like impossible for me to get in. Haha I remembered I didn't even get an application after sending my MCAT and college transcript to UCSF or UCLA med school which means flat out denied, but got one from Harvard and Hopkins. I was really looking foward to flying out to Cali for a possible interview too :(

Oh to stay on topic:

4 years Columbia University : $40,000 in debt (approx)

4 Years Cornell (Weill) Med school: $105,000 in the hole (approx)

First Choice match on match day
and not having to scramble: Priceless

I'm a po' but happy chinaman, well pretty content anyhow.

Edit: Oh yeah gratz on acceptances, woman!



<!--EDIT|Chasiubao_Boy|Aug 22 2002, 02:59 PM-->

[SunWuKong]

while we're on the subject. how much money can you generally get in loans for grad school? basically i have no money right now. hahhah (i guess it's actually not very funny...). this is especially for those who have gone or are in law school.

[Arex]

Originally posted by SunWuKung@Aug 22 2002, 07:13 AM
while we're on the subject. &nbsp;how much money can you generally get in loans for grad school? &nbsp;basically i have no money right now. &nbsp;hahhah (i guess it's actually not very funny...). &nbsp;this is especially for those who have gone or are in law school.
I think it largely depends on the school's projected cost schedule including expected cost of living. My last year at USC, I could take out up to $41k in loans. Of that, $26k went to tuition. I know my friend up at USF was kind of struggling because her school had an abnormally low cost schedule given the high rent they (used to) pay out in San Francisco. She barely had money to live after her tuition and rent was paid. But I think you can expect to be in the hole about $100k-$150k if you take out full loans each year for a private school.

Alex



<!--EDIT|Arex|Aug 22 2002, 09:54 AM-->

[SunWuKong]

Originally posted by Arex@Aug 22 2002, 12:54 PM
Originally posted by SunWuKung@Aug 22 2002, 07:13 AM
while we're on the subject. how much money can you generally get in loans for grad school? basically i have no money right now. hahhah (i guess it's actually not very funny...). this is especially for those who have gone or are in law school.
I think it largely depends on the school's projected cost schedule including expected cost of living. My last year at USC, I could take out up to $41k in loans. Of that, $26k went to tuition. I know my friend up at USF was kind of struggling because her school had an abnormally low cost schedule given the high rent they (used to) pay out in San Francisco. She barely had money to live after her tuition and rent was paid. But I think you can expect to be in the hole about $100k-$150k if you take out full loans each year for a private school.

Alex
so it is entirely possible to take out "full" loans right? because basically i have no money (at least liquid asset) and i'm hoping i can come up with the money somehow when i actually get to law school.



<!--EDIT|SunWuKung|Aug 22 2002, 12:58 PM-->

[Arex]

Originally posted by SunWuKung@Aug 22 2002, 09:57 AM
so it is entirely possible to take out "full" loans right? because basically i have no money (at least liquid asset) and i'm hoping i can come up with the money somehow when i actually get to law school.
Of course! How else could you live? It's my understanding that most law schools don't even allow you to work during your first year (how they enforce it, I'm not sure). That being the case. without loans most people wouldn't be able to attend law school without selling a house or something.=P And if you didn't have a house to sell, well...

Alex

[not-a-twinkie?]

Originally posted by artsfartsyjanet@Aug 21 2002, 06:25 AM
What is your tuition at your school, and how much are you in debt? &nbsp;How are you paying for your tuition and other expenses at school?
School Loans... BOOOOH!
I went to a private lib-arts college called Occidental College in Eagle Rock... and the tuition cost about $25,000 / year. (That includes my cost of living on campus... /near campus... would'a been cheaper if I commuted... but it wouldn't have been the same college experience for me if I didn't live on / near campus -- since the school is smallllll... but very big on being a community. )

When I graduated in '98 -I had about $44,000 of debt. I had a scholarship for $25,000... the other years were partially paid by my parents... and the rest was up to me to cover....

I've been paying stuff off ahead of time... but it still sucks to look at my loan statements and see that I still have ... ohhh... I dunno... about $28k to go....

SoooooooOooO many of my friends seem to have no / wayyy less debt than me. It sucks... because the remaining debts that I have from school sometimes seem to get in my way from thinking about GRAD school....
:cry:

[lethal]

Originally posted by SunWuKung@Aug 22 2002, 03:13 PM
while we're on the subject. how much money can you generally get in loans for grad school? basically i have no money right now. hahhah (i guess it's actually not very funny...). this is especially for those who have gone or are in law school.
Any law student can get the max Federal Direct Loan, which is $8,500 subsidized and $10,000 unsibsidized regardless of financial need. Grad students are also generally regarded as financial independents, so if they have no income they can borrow up to the amount of their financial need (calculated by the school as tuition and fees plus books plus living expenses). This differs from school to school.

Trust me, you won't have any problem finding loan money to go to law school. The problem will be paying all that money back once you graduate.

Fortunately for me I go to a public school, so tuition's only 12K. I saved some money these past few years while working, so I can afford the living expenses through my savings.

I'll owe about 60K from law school and a residual 20K from undergrad when I graduate.

[ChinaLama]

the prestigious state schools are EXPENSIVE for out of staters, AND their financial aid sucks compared to some of the privates. Michigan actually didn't even cover all of my "need" when they calculated fin aid for me. that's why i said no way am i going to freeze my ass in Mich when my parents can pay 4 digits to send me to Penn. (my family's income was only 30ish k the yr before i got into college :)).

[Craig]

For undergraduate, I was paying in-state tuition going to a public school. As recently as 1995, I was paying like $600 a semester for full-time enrollment. Course within a year and a half (1997) the school jacked it up to over $2000 a semester (where it still stands).

[MellowDrama]

Hey, Chasiubao, you were a Lion?

heh heh..

CC 99 right here!! :lol:

[deez nuts]

Originally posted by MellowDrama@Nov 1 2002, 02:47 AM
Hey, Chasiubao, you were a Lion?

heh heh..

CC 99 right here!! :lol:
Woo woo

CC 95.

[artsfartsyjanet]

$15,000 but get back to me when i go to grad school. The tuition at my school is on average $20,000. Room and board's about $4,000 on average.

[iris]

Probably about $100,000 after law school. Maybe more. I don't want to think about it.

[ellsworth81]

Originally posted by artsfartsyjanet@Jan 14 2003, 09:00 AM
$15,000 but get back to me when i go to grad school. The tuition at my school is on average $20,000. Room and board's about $4,000 on average.
hmm.... your rates are up there with my $26500 per year, not including living expenses and fucking book costs.

[VV o n g B a]

i had zero debt except some late utilities fees. :ph34r:

[lethal]

About 20 grand from college. Probably close to 90K by the time I graduate law school. And I went to public schools for all of my education!

Edit: Merged with previous thread on this topic.

[pfc beansprout]

had 10k from previous years...than joined ahmie...they took care (well, said they will...the bureacy sp? has hindered it...but it's part of my contract, so it's on uncle sam's tab...)...just got my parents' "PLUS" loan they took out when i lived in the dorms..damn, it's 7k...besides that, 2k from now until when i grad...not too shabby, i've heard worse

[Commando_turned_MD]

For the undergrad folks,
Join ROTC, ARMY,AF, NAVY&marines, and have them pay for school......Full tuition, books, lab fees, misc fees, room and board, and a stipend of 350.00 a month.....Can't beat that.....

All you have to do is a 4 years of service........
Undergrad ed at USC approx $28,000 a year..........

second LT in the military $2500 base pay, food-$200.00, housing $1040, plus med and dental coverage, 30 day pay vacation.....

[pfc beansprout]

Originally posted by armycommando_turned_doctor@Jan 19 2003, 07:55 PM
For the undergrad folks,
Join ROTC, ARMY,AF, NAVY&marines, and have them pay for school......Full tuition, books, lab fees, misc fees, room and board, and a stipend of 350.00 a month.....Can't beat that.....

All you have to do is a 4 years of service........
Undergrad ed at USC approx $28,000 a year..........

second LT in the military $2500 base pay, food-$200.00, housing $1040, plus med and dental coverage, 30 day pay vacation.....
no no...you do NOT wanna join the millitary..sorry AC...but it is too much bullshit and hassle...i recommend anybody to try to do it on their own first. it sucks man! you don't want motherfuckers to tell you what to do all the time...especially at drill..~sigh, mufuckers be tryin to boss you around one weekend a month b/c their regular civillian janitor jobs sux (well, not all..but these cats get on some mad power trips-specially if you in school..they think it is bad to "question authority").