I know a dude working for Microsoft making over $250k and he went to Iowa State University for $10k per year, $40k total. And he had some of that financial aid so he didn't even pay the full $40k. I know people who went to community college for $5k per year, barely over $10k total and they're making over $100k doing various tech jobs. I don't feel bad for the English major who spent $150k going to some big brand school and now has to pay back a bunch of loans.
What happens when you move abroad and don't return (to the US)?
I do not owe anything (paid off long ago).
Some of the answer would depend on the type of student debt. At some point it might be turned over to a collection agency. It then gets dicey as collecting would depend on the country you moved to and its laws. There likely is some way to get the money even if you are overseas through wage garnishment perhaps.
The above does not speak specifically to moving abroad.
Finally, you took out a loan. Pay it back. It is the right thing to do.
Hey guys! I owe $125K from undergrad and grad school. Finished 5 yrs ago, haven’t paid a penny. You rich boomers can foot my bill, since college was almost free when you went. In fact got my tickets to Spain to give myself something special. Thanks boomers, please pay my past due amount in full since you guys screwed us all over. — first class traveler
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>Before first Christmas after college graduation ...
Hey guys! I owe $125K from undergrad and grad school. Finished 5 yrs ago, haven’t paid a penny. You rich boomers can foot my bill, since college was almost free when you went. In fact got my tickets to Spain to give myself something special. Thanks boomers, please pay my past due amount in full since you guys screwed us all over. — first class traveler
This is not a solution. You are hurting teenagers and twenty-somethings with your attitude.
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VIT wrote: second, we have gutted state university funding and passed it on to the kids.
It always amazing me how simply looking at the data would prove this is false. Funding has remained relatively consistent over the last 30 years. But as a percentage, it has indeed gone down. Why? Because the cost has risen significantly higher than the rate of inflation. The administrative bloat is primarily to blame for this of course. But our Big Education political bootlickers would never assign fault within the universities for their rising costs. Instead, they'll just scream funding has gone down!
And of course, the irony being those that are most highly "educated' either willfully ignore this, or are just too ignorant understand what is really going on. Either way you're not supposed to be this easily fooled. But hey, even with college graduates, the world needs intellectual ditch diggers.
you make this big claim then refer to nothing to back it up. you are ignoring inflation which your ilk harps on in every other context. "Across the nation, the average decline between 2008 and 2020 was nearly $1,500 per student, adjusted for inflation." the value of money goes down with time. the state contributes less to state u per student. the state u passes more of the cost on to their students as tuition and fees -- "Between 2008 and 2018, the two states that made the biggest cuts to higher-ed funding were Arizona and Louisiana, the Center on Budget and Policy Priorities found. Meanwhile, the two states that saw the biggest tuition increases over those years were… also Arizona and Louisiana. In Arizona, tuition increased an average of $5,384 per student during that time; in Louisiana, it increased by $4,810."
I feel like a lot of you must have gone to college in a different time. I have over $100K of loans and after being graduated now for 10 years and paying $800 a month consistently, with the interest accrual I haven't even made a dent in what I still owe.
I don't understand why people are taking out these loans. Was going in-state to a cheaper school not an option? Why not knock out some core courses at the community college (cheap) level? I feel like parents/high school counselors, need to start advising kids better about taking on debt.
The person had to have attended grad or professional school unless these loans were not part of the usual loan programs.
The average state school costs only $100K total. 95% of students receive academic or need-based or athletic aid. Any student with $100K of debt is a selfish brat.
You think a DPT has the same level of responsibility and stress as an MD? Of course they don't.
General anesthesia on someone with significant pulmonary issues is a scary thing. Any kind of surgery on someone with liver disease and issues with clotting factors is a scary thing. These patients are probably also taking 20 different medications and you'd better understand everything about them. A DPT is a completely different animal.
The average state school costs only $100K total. 95% of students receive academic or need-based or athletic aid. Any student with $100K of debt is a selfish brat.
I looked up the stats for the first two state schools that came to mind, and both were under 70% receiving some form of aid. Then I looked up two more, and they were both in the 70s. So I'm skeptical of your number there.
Also, the average of the four state schools for four years was $142,000 (in state) and $232,000 (out of state). So you were only off on the cost by 40% or 132%, depending.