• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Question for current and recent college students concerning student loan debt

Page 2 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.
0 debt for undergrad (public state university, fully accredited and cheap). Expenses paid for by family, many scholarships as well that negated about 3.5 years worth of tuition.
0 debt expected for MS in CS at graduate school (I got a research assistantship)
 
I graduated with about $20k in loans. Which is fine.

With a "childhood education" degree, $40k in loans is more than I'd like to be graduating with. Whose responsibility it is to pay for school is up to you and your wife.
 
thanks for all the replies, after reading them and talking to my wife I guess I am going to contribute more...

so I hope you all are prepared to start buying my lunches for the next four years 😉
 
I have $5k, my wife has $3k. Public university, scholarships, working during school, and help from family all made it possible. We only needed a little bit extra to make it through so we had to take out loans for some of it just one year.

Make it clear that you'll help your daughter but if she's not going to be getting anything from the her learning (aka failing) that you're pulling any support. If she's not getting anything in return for your money you shouldn't be paying. It's an education, not a vacation.
 
Originally posted by: Bignate603
I have $5k, my wife has $3k. Public university, scholarships, working during school, and help from family all made it possible. We only needed a little bit extra to make it through so we had to take out loans for some of it just one year.

Make it clear that you'll help your daughter but if she's not going to be getting anything from the her learning (aka failing) that you're pulling any support. If she's not getting anything in return for your money you shouldn't be paying. It's an education, not a vacation.
Click to expand...

this has been my position all along..I think my best approach is to still have her take out the loans but we will make the payments as long as her progress is satisfactory..



 
Originally posted by: leftyman
My daughter is going to school this fall and after factoring out grants and a couple of small scholarships she is going to be taking loans out for about $9000 a year and I would imagine that will only go up later.
She is enrolled in childhood education.

My wife and I are taking care of all of the "extra costs" but the actual debt for the school loans will be carried by her.

So, I was curious if this seems to be a typical amount?

We are capable of doing more financially, I just feel we are doing enough and the cost of school should be her responsibility.


and my wife doesnt exactly agree with me...😕
Click to expand...

I feel like it's a parental obligation to provide an education for their children. My parents did it for me, and I'll do it for mine.

Of course, this is assuming I have the money, my children don't become fuckups, and they don't go to a very expensive school.

If you are capable of paying for all of her school, why wouldn't you?
 
I manage to come out with only about $4000 in loans... I had a quarter where I decided to take 21 credit hours because a few of the classes wouldn't be offered again for a whole year and I'd need those classes to take other classes. Because of this, I reduced my hours at work by half, so I had to get a student loan otherwise I couldn't register for classes the next quarter on time and not get shut out.

I pay a whole $50/month on it. I could probably pay it off if I wanted and be done with it but it's got a decent interest rate.
 
Originally posted by: txrandom
Originally posted by: leftyman
My daughter is going to school this fall and after factoring out grants and a couple of small scholarships she is going to be taking loans out for about $9000 a year and I would imagine that will only go up later.
She is enrolled in childhood education.

My wife and I are taking care of all of the "extra costs" but the actual debt for the school loans will be carried by her.

So, I was curious if this seems to be a typical amount?

We are capable of doing more financially, I just feel we are doing enough and the cost of school should be her responsibility.


and my wife doesnt exactly agree with me...😕
Click to expand...

I feel like it's a parental obligation to provide an education for their children. My parents did it for me, and I'll do it for mine.

Of course, this is assuming I have the money, my children don't become fuckups, and they don't go to a very expensive school.

If you are capable of paying for all of her school, why wouldn't you?
Click to expand...


are you my wife?
 
I had $26,000 in loans for undergrad. With the standard 10yr repayment plan, I'd pay over $36,000. But I hope to pay them off in about 5 years, since the Federal Direct loans have about a 7% interest rate. My parents paid most of my living expenses.

Got to love how everyone talks about how "cheap and widely available government loans are for school". Yeah, 7% is real cheap... people can get car and RV loans for less than that. Ridiculous. I think the only thing that should have a lower rate is a mortgage.

Anyway I think what you are doing for your daughter is great, as long as her academics are good. You are putting some of the responsibility on her while not leaving her with loans that will far exceed her salary after graduation.
 
I didn't get a dime. I walked out of undergrad with about 25k in debt in 2003. I'm about to get out of grad school with 40K in debt. I will have a total of 55K in debt after the 10K i've paid down since I graduated from my undergrad.
 
probably $40,000-ish from undergrad.

shoudl reallly weigh the cost of education with future earning potential. Might be worth it to transfer to cheaper school if shes going into a noncompetitive field.
 
Originally posted by: Corporate Thug
I think this subject has been posted about 247262346589723220 times...

I have 130k
Click to expand...

Yeah but you're a lawyer. You'll make that much back if you start chasing ambulances. 😉
 
What made her decide to major in "childhood education"?
I've never even heard of this major before. What exactly do they usually end up doing with the degree?
Besides teaching of course...
 
Originally posted by: leftyman
My daughter is going to school this fall and after factoring out grants and a couple of small scholarships she is going to be taking loans out for about $9000 a year and I would imagine that will only go up later.
She is enrolled in childhood education.

My wife and I are taking care of all of the "extra costs" but the actual debt for the school loans will be carried by her.

So, I was curious if this seems to be a typical amount?

We are capable of doing more financially, I just feel we are doing enough and the cost of school should be her responsibility.


and my wife doesnt exactly agree with me...😕
Click to expand...

Normally, I'd tend to agree with your wife.
However I know nothing about this major she picked, or it's future prospects.
 
About 17k in 3.5 years. My tuition was paid for by scholarships, so loans were mostly for living expenses (along with money from working 3 of those years). Wife-to-be has about 25k after 5 years. I'm not particularly concerned about paying them off early.
 
Originally posted by: txrandom
Originally posted by: leftyman
My daughter is going to school this fall and after factoring out grants and a couple of small scholarships she is going to be taking loans out for about $9000 a year and I would imagine that will only go up later.
She is enrolled in childhood education.

My wife and I are taking care of all of the "extra costs" but the actual debt for the school loans will be carried by her.

So, I was curious if this seems to be a typical amount?

We are capable of doing more financially, I just feel we are doing enough and the cost of school should be her responsibility.


and my wife doesnt exactly agree with me...😕
Click to expand...

I feel like it's a parental obligation to provide an education for their children. My parents did it for me, and I'll do it for mine.

Of course, this is assuming I have the money, my children don't become fuckups, and they don't go to a very expensive school.

If you are capable of paying for all of her school, why wouldn't you?
Click to expand...

I'm not a parent, but I tend to believe the people who pay for it themselves appreciate it a little more and don't do stupid crap (ex. party every night of the week, skips tests, don't turn in assignments, etc.). That was definitely what I saw in college.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top