I really don't like the idea of college loans, they cause you to start out with too much debt. As much as I would like to see my kids have the "life lesson" of paying for their own educations, I've told them I would pay for it.

When I was in college 30 years ago, I was able to pay my tuition with a minimum wage job; unfortunately those days are gone. If you really want a surprise, look into the cost of private secondary schools.

Regarding the person with the $100k loan, she is more likely to start at $50k per year and spend 10 years paying off her loans. Is unfortunate because it forces students to treat college as a trade school to recover their investment.

I went to a private university (U of R) and the tuition was $4200. at that time, IIRC.

Total cost for four years with room and board was $24k..........less some financial assistance. I was able to graduate with almost no debt.

Today, the same school gets $45K for the same miserable education...........it's unconscionable.

Leaving such a school with $125K debt puts the graduate severely behind the financial curve for many years into the future.

My wife's niece and husband currently have over $1 million in college loans. She is a veternarian and he is in about the last year of residency in neurology. With their expected combined income, they will probably pay it off in a few years.

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Behind every great man is a great woman. Behind every great woman is a great behind.

I seriously doubt it. Those that graduate with a medical degree don't make any serious money for at least 10 years.

Their combined income for the first five years probably won't exceed $200K. Making a dent in $1M is going to be a long and arduous task. The interest alone is probably $30K per year.

I understand a starting vet averages only $50K. But she works in animal testing at a human hospital and started at $100K about three years ago. He has been offered (and will likely accept) a faculty position at a major university starting at $350K. They're both exceptional in their fields.

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Behind every great man is a great woman. Behind every great woman is a great behind.

Until I see the actual paycheck............I'm not buying it. No university hires a person fresh out of school for $350K.

I do know a guy who was a reputable plastic surgeon who was hired as a med school prof in residence and his salary was $ 295,000. His specialty was reconstructive surgery of the skull following major traumatic accidents. Apparently he was also a brain surgeon as well.

Given all his experience he barely hit $ 300,000 in the med school. But he decided to do that and only consult occasionally, he felt the need to train more surgeons because the work load was too much for him, and the stress was getting to him.

To say he barely hit 300,000 as if it were nothing may sound crass. But he has amazing skills and apparently he's been doing it for a while. He told me about one operation wher ehe had to make a device to hold the brain for a day in a certain position while two teams (his and his partner's) worked around the clock to reconstruct the lady's skull. It was a success and six months later she had all of her physical faculties except a slightly reduced sense of taste. And she was 65!

That's skill I don't mind paying for. It's the difference between life as a vegetable and life after an almost mortal accident.

But his skill is rare. 300 grand is worth it.

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Strelnik
Invest in America: Buy a Congressman!

1950 170SD
1951 Citroen 11BN
1953 Citroen 11BNF limo
1953 220a project
1959 180D
1960 190D
1960 Borgward Isabella TS 2dr
1983 240D daily driver
1983 380SL
1990 350SDL daily driver alt
3 x Citroen DS21M, down from 5
3 x Citroen 2CV, down from 6

I went to a private university too. Tuition there for a year was about 1800 per year when I started. Maybe about 3,000 when I finally graduated. I didn't have any debt when I finished. I paid for my liviing expenses out of the GI Bill money I received and the 'rents paid the tuition. Lucky for me.

"Unconscionable" is too polite a word. Screwin' them with their pants on is more like it. My Alma Mater today is in the 50k T&R&B range. To push a kid out the door with 100,000 in debt with their PoliSci or History degree is more like robbery. (Nothing against History, mind you. Twas my major)
100G's in debt at 5% for 5 years is 1,800 per month. For 10 years it's about 1,050. Good luck with that.

So find yourself a degree that will pay for itself. When you have made the money and want to pursue something like say pottery making or whatever as a luxury, go for it.

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01 Ford Excursion Powerstroke
99 E300 Turbodiesel
91 Vette with 383 motor
05 Polaris Sportsman 800 EFI
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03 SeaDoo GTX SC Red
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Historically, only the wealthy went to college. It was a direct result of Lyndon Johnson and the Higher Education Act of 1965 that the Pell Grant system was started. This Act has been reauthorized in ’72, ’76, 80, 86, ’92, ’98, and ’08. This grant was the reason millions of po' folk could go to a cc or university (or both).

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Toyota is a leader only because their drivers block everyone behind them. Oh what a feeling.