WARNING: Student Load Forgiveness is Very Unlikely to Pay for Your Next Elk Tag

[Redmt]

I'm all for companies paying for and training employees as long as there's a contract in place for an agreed upon length of employment. Someone correct me if I'm wrong but I think KLM has a classroom to pilot program. My grandson just graduated a Caterpillar education program. He's now a third year apprentice. He is locked in to the dealership that sponsored him. I don't remember the length of time. The basics of it is that a company pays for the education and then they reap the rewards. When the government pays for someones education then they go work for the private sector, it's bullshit.

 

[TN2shot07]

I have 2 children in college right now. My son is a chemical egineering major at the university of illinois. My daughter is a marketing major at illinois state. In state tuition, room, and meal plan for my son is $42,000 annually. For my daughter its $32,000. Its really easy to get loans. The kids fill out the FAFSA and then the schools financial aide office gets involved and the kids simply sign some online forms. There is no shopping around, etc. Based on location, you are provided a loan servicer. In my case its mohela.

Now what the kids get doesnt cover all their bills so thats where dad steps in and has to take out parent plus loans. I had about $80,000 saved for college and it barely covered 1 year for both kids. I have about $50,000 in student loans for both of them.

I got my masters degree in computer science in 1997 and cost about $12,000 from a state university. My parents simply wrote a check every year. We were not rich. Dad was an iron worker at a steel mill and mom did loans at a bank. Times were different. Education was affordable.

Part of that issue is that the loans are so easy to get. Tuition will continue to rise faster than inflation because the money is there. If the spicket was turned off education prices should reflect that pretty quickly

No bank in their right mind is lending six figures completely unsecured to an 18 year old, much less for something that there’s probably at least a 50% chance they don’t finish.

 

[TN2shot07]

I'm all for companies paying for and training employees as long as there's a contract in place for an agreed upon length of employment. Someone correct me if I'm wrong but I think KLM has a classroom to pilot program. My grandson just graduated a Caterpillar education program. He's now a third year apprentice. He is locked in to the dealership that sponsored him. I don't remember the length of time. The basics of it is that a company pays for the education and then they reap the rewards. When the government pays for someones education then they go work for the private sector, it's bullshit.

This is pretty common in the medical field as well, especially nursing. The contract period can be miserable because you’re locked in and will draw all the s*** shifts for a while but you get a degree and experience

 

[Redmt]

This is pretty common in the medical field as well, especially nursing. The contract period can be miserable because you’re locked in and will draw all the s*** shifts for a while but you get a degree and experience

Nobody gets to start at the top and work their way down. Anyone with the dedication to work through the medical field deserves everything they get. My wife is a retired Respiratory and Cardio Pulmonary tech. She did not start as the department head!

 

[TN2shot07]

Nobody gets to start at the top and work their way down. Anyone with the dedication to work through the medical field deserves everything they get. My wife is a retired Respiratory and Cardio Pulmonary tech. She did not start as the department head!

There are a lot of folks that forget that, we have had that issue for the last couple years with a number of hires. It’s strange because it doesn’t seem limited to a specific age group.

The best people I’ve worked for all started at a lower position, they generally relate to the team much better because they understand the ins and outs

 

[Nick87]

The best people I’ve worked for all started at a lower position, they generally relate to the team much better because they understand the ins and outs

It blows my mind how some people in management fail to grasp that idea.

 

[trackerbacker]

It blows my mind how some people in management fail to grasp that idea.

Yup.

It blows my mind people think others should pay for their ineptitudes.

I have 2 children in college right now. My son is a chemical egineering major at the university of illinois. My daughter is a marketing major at illinois state. In state tuition, room, and meal plan for my son is $42,000 annually. For my daughter its $32,000. Its really easy to get loans. The kids fill out the FAFSA and then the schools financial aide office gets involved and the kids simply sign some online forms. There is no shopping around, etc. Based on location, you are provided a loan servicer. In my case its mohela.

Now what the kids get doesnt cover all their bills so thats where dad steps in and has to take out parent plus loans. I had about $80,000 saved for college and it barely covered 1 year for both kids. I have about $50,000 in student loans for both of them.

I got my masters degree in computer science in 1997 and cost about $12,000 from a state university. My parents simply wrote a check every year. We were not rich. Dad was an iron worker at a steel mill and mom did loans at a bank. Times were different. Education was affordable.

Any reason they didn't go to your local Harvard on the highway to save money, knock out some cheaper ones, either grad, transfer, or grad transfer?

The chemical engineering I get (at the later stages of education), but marketing, which, really, might as well be basket weaving, could be knocked out primarily through HoH's.

 

[Jbotto]

My wife manages all of our finances and paid them all on time as she would normally, plus some when we had funds, which luckily was quite often. We paid off all of my loans and put an incredibly large dent in her amount. If folks were smart (like my wife) you could have easily made significant strides toward paying them off. Never banked on it anyways.

This is almost exactly what we did. We never missed a payment. We paid our normal payment which was over the minimum monthly due. We kept up the same amounts and it all went to principal. We didn’t invest it “just in case” but we also didn’t actually see it being forgiven. Mine are all paid off and now just working on my wife’s. Feels good.

 

[TN2shot07]

I think we can just lock it down now…

 

[RobG]

Darn, a President can't spend 400 billion dollars on a pet project without congressional approval.

 

[noharleyyet]

Darn, a President can't spend have 400 billion dollars printed on for a pet project without congressional approval.

...or

 

[MNElkNut]

Do kids work at all anymore? My daughter has worked a lot and paid for her first fill year out of her earnings. She will continue to work both in the school year and in the summer. She applied for a boatload of scholarships. Tuition/Room and Board at a state university for a 4 year RN nursing degree is just under $20K per year. With her modest 529 plan she will graduate with little to no debt. It can be done, but it takes some effort and sacrifice. Instead of going out on the boat with us, she worked a double as a CNA on the 4th of July.

 

[trackerbacker]

Do kids work at all anymore? My daughter has worked a lot and paid for her first fill year out of her earnings. She will continue to work both in the school year and in the summer. She applied for a boatload of scholarships. Tuition/Room and Board at a state university for a 4 year RN nursing degree is just under $20K per year. With her modest 529 plan she will graduate with little to no debt. It can be done, but it takes some effort and sacrifice. Instead of going out on the boat with us, she worked a double as a CNA on the 4th of July.

That's not fair, she needs to share in her prosperity and luck.

Kids have been coddled by their best friends (mommy and daddy) instead of being parented. You can be both, but you can't parent with a best friend first approach.

I'm convinced that a good handful of the current crop of parents are more interested in having kids as accessories for FB/IG posts than anything else.

 

[TN2shot07]

Do kids work at all anymore? My daughter has worked a lot and paid for her first fill year out of her earnings. She will continue to work both in the school year and in the summer. She applied for a boatload of scholarships. Tuition/Room and Board at a state university for a 4 year RN nursing degree is just under $20K per year. With her modest 529 plan she will graduate with little to no debt. It can be done, but it takes some effort and sacrifice. Instead of going out on the boat with us, she worked a double as a CNA on the 4th of July.

It’s hard to get the full college experience working like that! Poor girl won’t ever be right…. Congrats on instilling that kind of work ethic, we need more of that attitude!

 

[buckbull]

Yup.

It blows my mind people think others should pay for their ineptitudes.

Any reason they didn't go to your local Harvard on the highway to save money, knock out some cheaper ones, either grad, transfer, or grad transfer?

The chemical engineering I get (at the later stages of education), but marketing, which, really, might as well be basket weaving, could be knocked out primarily through HoH's.

Well you are not going to go to a local community college and then transfer to UIUC into the chemical engineering program. Its ranked 5th in the nation, they dont have to take transfers and normally dont. Some majors like computer science cannot even be transferred into if you are a current UIUC student. My son worked hard in high school and was able to go into UIUC with 36 credit hours that he earned in high school. Graduated with a 3.85 gpa. Darn right im paying for his school wherever he wants go. Marketing for my daughter wasnt my first choice. Stem is where the jobs and money are especially so for a woman. But marketing fits her personality. She will land on her feet even if it requires a little nepotism

 

[trackerbacker]

Well you are not going to go to a local community college and then transfer to UIUC into the chemical engineering program. Its ranked 5th in the nation, they dont have to take transfers and normally dont. Some majors like computer science cannot even be transferred into if you are a current UIUC student. My son worked hard in high school and was able to go into UIUC with 36 credit hours that he earned in high school. Graduated with a 3.85 gpa. Darn right im paying for his school wherever he wants go. Marketing for my daughter wasnt my first choice. Stem is where the jobs and money are especially so for a woman. But marketing fits her personality. She will land on her feet even if it requires a little nepotism

Sorry if I came off digging against you, was not the intent. Ditto on the college credits during HS.

The CE like I said, I can understand, especially upper echelon topics, outside of that, though, again, not directed at you, I don't understand paying top-tier money for 4 years for ojt jobs.

"Even the 2.5 GPA med student calls himself a doctor"

Edit:

You sound like a good dad and father figure to them. Kudos to you sir. You raised em right

And a little nepotism is the plan for mine as well, otherwise selling to the highest bidder. I'll let em earn it, but I ain't letting em sell it out from under me to enjoy an earlier retirement age than me!

 

[TheTone]

Do kids work at all anymore? My daughter has worked a lot and paid for her first fill year out of her earnings. She will continue to work both in the school year and in the summer. She applied for a boatload of scholarships. Tuition/Room and Board at a state university for a 4 year RN nursing degree is just under $20K per year. With her modest 529 plan she will graduate with little to no debt. It can be done, but it takes some effort and sacrifice. Instead of going out on the boat with us, she worked a double as a CNA on the 4th of July.

Yes but is working keeping up with tuition costs? I went to a small college and worked a ton, enough that my grades suffered at times and graduated with no loans. I just checked and tuition at the school I went to has tripled since I was there. I don’t think the jobs I was working then are paying three times what they did

 

[BrentD]

Yes but is working keeping up with tuition costs? I went to a small college and worked a ton, enough that my grades suffered at times and graduated with no loans. I just checked and tuition at the school I went to has tripled since I was there. I don’t think the jobs I was working then are paying three times what they did

The number one cause of tuition increase at state schools is cuts, drastic and repetitively, to the higher ed institutions. I could go on and on, but the older you are the more state taxes subsidized your education, leaving proportionately less for you to pay relative to your kids and your grand kids. The evolution of this is stunning. It will only get worse. MUCH worse.

Cheers to those that have kids that work their own way through school. Cheers to those whose parents can and do carry most or all of the freight for them. Find the best balance for YOUR kid is what matters. Be sure it allows for reasonable extra curricular activities and outside the classroom experiences. Then do your damnedest to minimize their debt first and yours second.

Thanks for listening...

 

[trackerbacker]

The number one cause of tuition increase at state schools is cuts, drastic and repetitively, to the higher ed institutions. I could go on and on, but the older you are the more state taxes subsidized your education, leaving proportionately less for you to pay relative to your kids and your grand kids. The evolution of this is stunning. It will only get worse. MUCH worse.

Cheers to those that have kids that work their own way through school. Cheers to those whose parents can and do carry most or all of the freight for them. Find the best balance for YOUR kid is what matters. Be sure it allows for reasonable extra curricular activities and outside the classroom experiences. Then do your damnedest to minimize their debt first and yours second.

Thanks for listening...

You ever notice how as .gov spending goes up in relation to education, educational cost...goes up?

You ever head of .gov spending cuts at public education facilities? Or really, any gov spending cuts?

The type of "budgeting" the .gov employs does not lend itself to efficient spending or reductions or really fiduciary responsibility to..us..

 

[BrentD]

You ever notice how as .gov spending goes up in relation to education, educational cost...goes up?

No.

You ever head of .gov spending cuts at public education facilities? Or really, any gov spending cuts?

Absolutely! I lived with those cuts for 30 years.

The type of "budgeting" the .gov employs does not lend itself to efficient spending or reductions or really fiduciary responsibility to..us..

Wrong. Just flat dead wrong.