So apparently more of us need to go to College

[Axon]

My mistake - I looked at the married phase out table

I'm interested in what you said about 80k because I feel like I'm doing something wrong. I lose almost 35% of my salary. I live in NYC, so there is a substantial city and state tax, but it still seems nuts.

I'm not married and have no dependents, except maybe my father, who is 66 and disabled. As is, I still ended up owing the state $200. I got $1,300 back from fed. I feel like I'm missing something. Maybe this isn't the thread for it, but it sucks.

 

[Ketchup]

I'm interested in what you said about 80k because I feel like I'm doing something wrong. I lose almost 35% of my salary. I live in NYC, so there is a substantial city and state tax, but it still seems nuts.

I'm not married and have no dependents, except maybe my father, who is 66 and disabled. As is, I still ended up owing the state $200. I got $1,300 back from fed. I feel like I'm missing something. Maybe this isn't the thread for it, but it sucks.

I have no problem with that being in the thread. It does suck.

(the following is just an made-up example, since obviously I don't know you) I think it comes down to what your are willing to do about it. Are you will to move (and quite possibly take a lower-paying position); or just deal with it, with the knowledge that you are probably doing the best the can be done at this point in your career.

 

[marvdmartian]

You know, it's funny. Lots of people will look down on schools like DeVry, because it's not a "real college".

What DeVry does, however, is fill a niche, and teach people a trade, versus giving them a nearly useless degree. How many people are still out of work, who are so highly educated with their expensive liberal arts degrees? Look down upon the blue collar and low end white collar jobs all you want, but the fact of the matter is that they tend to be the first hired back, when the economy starts to turn around.

The sad fact in this country is that there ARE jobs out there, for skilled blue collar tradesmen. The problem is, so many of today's kids are brainwashed into thinking they have to go to college, and that it doesn't really matter what their degree is in, there will be a good paying job waiting for them once they graduate. What we need to teach kids, is that there's no magical formula for what education or job skills they need, but that there's also no way they're going to be employable if they only pick the easy degree program.

There's way too many liberal arts degrees being given out in this country, and way too few people willing to take the extra effort to become doctors or engineers, and way too few people willing to get their fingernails dirty, and go work a job as a machinist or mechanic.

 

[Saint Nick]

I'm glad I worked hard in college, and worked harder as an intern so that I got a great paying gig at a stable company. Now I am virtually debt free with a measly $800 left on my student loan.

 

[Exterous]

I'm interested in what you said about 80k because I feel like I'm doing something wrong. I lose almost 35% of my salary. I live in NYC, so there is a substantial city and state tax, but it still seems nuts.

I'm not married and have no dependents, except maybe my father, who is 66 and disabled. As is, I still ended up owing the state $200. I got $1,300 back from fed. I feel like I'm missing something. Maybe this isn't the thread for it, but it sucks.

Well I am no expert by any means but my rough napkin calculations show that ~21% of 100k should go to federal taxes without any deductions. I should have made note about city and state taxes in my post but mine are not substantial so it didn't cross my mind. I am no tax expert but the game is basically to get your AGI as low as possible and get the loan rate on your student loans as low as possible. I have no idea what the rates are but have you checked various programs that allow consolidation/refinancing?

Edit: I found a nifty calculator that will do it for you. Your tax liability on AGI of 100,000 is 21,461

http://www.moneychimp.com/features/tax_brackets.htm

 

[Dumac]

Bachelors in becoming the new high school diploma

 

[sze5003]

My company would pay if I want to get a masters part time, but they won't pay the whole thing. Don't have the money in between checks to pay for a class then wait to be reimbursed at the end of the class and then that gets taxed so I'll end up with more debt.

That and being a dev, a masters in IT or MBA won't help me I don't want to be a manager.

 

[KillerCharlie]

The average debt is only something like $26k, which is how much many people spend on cars.

 

[sze5003]

The average debt is only something like $26k, which is how much many people spend on cars.

Yeah that's average. If I could do it again I would not have went to main campus and spent all that money. I would have done 2 years in a regular college then transfered. My debt is well over 26k..I'm trying to convince my sister to go to a cheaper college..she wants to be a nurse or maybe go in the medical area. Of course she will get a lot more aid than I did because my parents aren't together anymore so my moms job doesn't pay much.

I wouldn't want anyone to be out of school and in debt. It's just not fun at all. I'm not broke, I can afford anything I want pretty much but the idea of having so much debt is grueling if I were to get canned and have to go without a job for more than a month or more.

 

[brianmanahan]

I was an academic star in high school and college. College was expected of me, but you know what? Sometimes, I think I should've just been an electrician and eventually opened my own business.

same thing here man, same thing here

could have started working a little before i was 18

 

[PliotronX]

My leadership professor was talking about how higher education is needed just to keep up with the advancements, never mind excelling at anything. China is building a new campus every 18 months, they value education and rightly so. Our high school graduation rate is at 70% IIRC. All I know is that college is frickin awesome for all the connections you make, things you learn and experience, and skills of time management you form. All well worth the tens of thousands I'll have to pay back later.

 

[Engineer]

Ah, good point. They're throwing in the "Master's degree preferred" because even though they know it makes no difference, it gives them a reason to screw anyone they hire with just a Bachelor's degree.

I don't know what the hell is going on in salaries right now. For a while, there were quite a few jobs offering more than I'm currently making. Then, there were quite a few jobs offering about what I'm making. Now, there is a divergence. There are splits where there are many jobs offering about what I'm making and then there are now jobs asking for quite a bit of qualifications (BS degree with 5 years experience) offering pay between $30,000 and $45,000. Hell, I made more than that my first year out of school with ZERO experience...in 1994!

I can't honestly think they are getting any serious bites on these job offerings considering how many people (headhunters) have contacted me about other, well paying jobs.

 

[sze5003]

When I first got out of school that was minimum and still is. BS with 3-5 years experience but pay was higher. Depends where you live. Now I still get headhunter calls but they want 5+ years experience yet they don't really care as long as you've been working a couple of years.

Headhunters are so annoying they literally don't know you and your experience and often sell you to interviews that require much more experience. I used to hate going to interview with them then come back to interview with the actual company.

 

[s0me0nesmind1]

That's right, and the schools have no accountability for their students' employment prospects either so they offer all kinds of worthless degree options. Then we end up with people with worthless degrees, few marketable skills, and tons of debt.

Just like banks loaning people money for a house -and subsequently the people taking the loan are too retarded to know what a loan is - how to manage money - how to save money - or how to pay off the mortgage - how the fuck is it their fault?

In this case, how is it the college's fault for plenty of dumbfucks majoring in Psychology and then popping out with assloads of debt saying "I DUN GIT NO JOB!" Then asking the government "WHY CANT I GET A JOB? GOVERNMENT, CREATE JOBS FOR MY LACK OF EXPERTISE RIGHT AWAY!"

 

[IndyColtsFan]

Just like banks loaning people money for a house -and subsequently the people taking the loan are too retarded to know what a loan is - how to manage money - how to save money - or how to pay off the mortgage - how the fuck is it their fault?

In this case, how is it the college's fault for plenty of dumbfucks majoring in Psychology and then popping out with assloads of debt saying "I DUN GIT NO JOB!" Then asking the government "WHY CANT I GET A JOB? GOVERNMENT, CREATE JOBS FOR MY LACK OF EXPERTISE RIGHT AWAY!"

At the end of the day, the people signing the loan are to blame. However, that does not mean the banks and schools are innocent. The loans currently can't be discharged in bankruptcy (unless there are extreme circumstances), so the lender has NO risk in handing out money to anyone. This is a large part of the issue. If these loans could be discharged through bankruptcy, I bet banks and other lenders wouldn't be throwing $100K in loans at someone who is majoring in Gender Studies.

Secondly, schools aren't entirely honest and upfront about employment opportunities for majors either.

 

[child of wonder]

Depends on what you want to do in your career. If you want to be technical specialist or a consultant in IT your whole career, I agree that getting a Master's probably won't help and training is more vital.

If you want to go into management, however, it will be very tough without a minimum of a 4 year degree and even that is hard -- most places want tons of management experience at a minimum and more and more are wanting MBAs.

Having zero desire to enter management I'm very content with my AAS degree. However, those I know that are pursuing Master's degrees aren't interested in management either. They're going into networking or security. They see the higher education as a doorway to higher pay which, in my opinion, is the wrong way to look at it if you're an IT professional with no aspirations of management.

 

[John Connor]

I think with all the money the government spends college should be free. I just want to fly for FedEx. Just need to go to flight school. A lot of jobs in the flying industry will be popping up because the old timers are retiring.

 

[SaDiZTiKStyLeZ]

Was promised 50k out of college.

But I found myself going between staffing agencies, then hitting rock bottom when I became homeless.

I can sue for deceptive practices, right?

 

[OverVolt]

At the end of the day, the people signing the loan are to blame. However, that does not mean the banks and schools are innocent. The loans currently can't be discharged in bankruptcy (unless there are extreme circumstances), so the lender has NO risk in handing out money to anyone. This is a large part of the issue. If these loans could be discharged through bankruptcy, I bet banks and other lenders wouldn't be throwing $100K in loans at someone who is majoring in Gender Studies.

Secondly, schools aren't entirely honest and upfront about employment opportunities for majors either.

There's no collateral for the loan

Just the ability of the feds to garnish wages, tax returns, everything. Its a disaster.

 

[OverVolt]

This is a HUGE part of the reason we have a huge student loan crisis. People aren't looking at degrees as an investment and instead think any degree entitles them to a high-paying job. Nothing could be further from the truth.

Its that people are making college something into it was never meant to be: A job placement factory.

If people weren't using it this way, tuition would never have been so high. Now like 75% of the degrees are debt traps. English majors have been a part of college for a long, long time. The institution is broken, not the people going there. Thats why it isn't their fault.

The average loan amount has been increasing more in line with what I see other students are having for debt.

http://money.cnn.com/2012/10/18/pf/college/student-loan-debt/index.html

The gradute school and professional debt figures aren't talked about too much, but they are much much higher. And most, unable to do anything with their bachelors decide "Hey why not double down and get a Masters/Phd/Apply to a professional school!"

Pharmacy school is approaching 250k which my family was trying to push me towards (but of course ran out of any money to help pay for it, blargh)

Plumber/Trucker/electrician/mechanic/LEO with a bachelors here I come :awe:

 

[klinc]

I like to know how you qualify to go to college or a uni in the USA. Do you need certain subjects and get certain grades for them or is it open for all?

 

[OverVolt]

I like to know how you qualify to go to college or a uni in the USA. Do you need certain subjects and get certain grades for them or is it open for all?

SAT/ACT standardized scores determine if you get in.

Community colleges mostly have no requirements. If you can prove yourself there and get good grades then you can transfer into a 4 year university after 2 years. Then another 2 years to finish up your bachelors. This is actually the cheapest way.

Out of state tuition will destroy you. It might be $15k/yr for an in-state resident but if you go to college as an out of state student it will be like $30k/yr. Such as someone from Florida going to school in Delaware.

Private colleges also run you about $30-40k/yr. I know someone who went to a private college and has $200k in debt. ($40k/yr + $10k/yr living expenses)

 

[stlc8tr]

I came, I saw, I rofled

I'd like to know what you think I actually take home per month before I tell you, just to see where your head is at. I wish we were in person together so you can't sit down and google it and try to figure it out for an hour before you respond.

I guess it depends on what your expenses are. I have no idea what you pay in rent or how you spend your money but I make way less than $100K/year and I manage to max out my 401K and contribute to a Roth IRA.

 

[ShawnD1]

I'll just leave this here. http://www.youtube.com/watch?v=Itn1P4KpZpU

Wah wah wah, let's blame everyone else for our problems. Why do people blame banks and lenders for everything? I listened to a friend bitch about banks and how lending is such a huge conspiracy. I simply asked how much he was paying in rent. He said he was paying roughly $1,000/month. I told him I was paying just under $750 to buy, and that includes the interest.

Stupid people is be stupid.

 

[brianmanahan]

Wah wah wah, let's blame everyone else for our problems. Why do people blame banks and lenders for everything? I listened to a friend b***h about banks and how lending is such a huge conspiracy. I simply asked how much he was paying in rent. He said he was paying roughly $1,000/month. I told him I was paying just under $750 to buy, and that includes the interest.

Stupid people is be stupid.

lol, pretty much this

if the population of the internet would try to do something with their lives instead of whining about banks and rich people, a lot more of them would be far better off.

but tbh many people dont want to learn, adapt, and work hard - they want things to be handed to them, they want to live it up easily, and they dont want anything to change.

well, thats not how the world works.