[marvin]

Quote:

Originally Posted by Whitebread /img/forum/go_quote.gif You guys are lucky that higher level education is subsidized. The cost of education for US students is outpacing inflation and annual salary isn't keeping up with either ESPECIALLY for the lower middle class and the lower class. We are going to have to do something about this soon. I was thinking about schooling for my children (when I have children, I'm only 19 right now) and how expensive it will be. Something must be done, or else an entire social class will be unable to aobtain anything beyone highschool without significant aid. Aid that is becoming more and more scarce. ... Am I enjoying my 45K-a-year cornell engineering education? Yes. Do I think its the best value? Hell no. Would I do it differently if I had the chance? Possibly. I'll let you know when I start earning money and paying off debt.

The problem is you're going to Cornell. That's why education is absurdly expensive to you. A college degree can actually be very affordable if you do it correctly.

I went to a local commuter university (UTexas@Arlington) for 3 semesters. Total tuition, fees, books, etc ran ~ 6k/year. If you made a 1400 on the SATs and are in the top 10% of your high school class, the university gives a 6k/year scholarship that brings that total down to ~ $0. Any other scholarships are free money. The quality of students wasn't very high (absurd drop/fail rate in initial courses), but the quality of the professors was pretty good.

Then there's all that AP/community college fun during high school. Lots of credit hours to be had there for next to nothing. Some more prestigious institutions of higher learning won't offer credits for these. But then again, if doing college on the cheap is your intention, you won't be going to those places.

After 3 full semesters of university (fall 2001->fall 2002), I ended up getting paid a few grand to get 100 credit hours. If you do it correctly, college can be very affordable even without going to the military.

 

[trains are bad]

I just got a $1500 parting check from the expensive private college that I just graduated from. With my academic scholarships, I generally was in the green and recieving money from them every semester, which I used along with nearly full-time work to (illicity) live off campus cheaply. So college cost me nothing so far, unless you consider work that I lost by virtue of being in college.

I have a paid-for car and no credit card debt, and a couple thou in the bank. In a few weeks I'll be attending UT@Dallas where they are going to pay me starting at 2100/mo to pursue a Ph.D, if I can cut the rather demanding academic standards.

Here's my advice: Be smart, get good standardized test scores, being a minority always helps (I'm a white male but homeschooled), go to less prestigious schools if they are vastly cheaper, pursue a degree in a field with high demand that nobody wants to do (physics).

 

[Whitebread]

Quote:

Originally Posted by marvin /img/forum/go_quote.gif The problem is you're going to Cornell.

That goes without saying. I knew what I was getting into when I signed off on that loan, including the potential headache of paying off all that money.

I did get significant grants from 2 other schools, neither of which I liked. I really did not want to go to a technical school. Schools that focus on engineering alone are far to esoteric for me. They lack a whole spectrum of people you might find at a school with strong liberal arts roots. I found that cornell had the best mix of engineering competance as well as strong liberal arts colleges. I'm glad I didn't go to any of the other schools I got into where I'd be surrounded by engineering and engineers all the time. As it turns out, all of my good friends are NOT engineers. Matter of fact, they are hotellies with little technical knowledge or competance.

The military was not an option for me. I did not want to get involved with a service that is fighting a war I do not agree with. And none of the other schools I applied to provided me with an atmosphere quite like Cornell has. Furthermore, my parents make a healthy gross on the order of 700k+ so I wasn't expecting much money. I decided to go where I wanted to without worrying about money. Yes, Cornell is expensive and yes I will have a lot of money to pay off but it will get paid off eventually.

 

[ex0du5]

Quote:

Originally Posted by trains are bad /img/forum/go_quote.gif Here's my advice: Be smart, get good standardized test scores, being a minority always helps (I'm a white male but homeschooled), go to less prestigious schools if they are vastly cheaper, pursue a degree in a field with high demand that nobody wants to do (physics).

Eh you might want to scratch physics off that list. There is almost no work in physics, other than doing research and teaching at a University. Medicine and Computer Science are the most in demand, depending on where you live.

 

[TheChemist]

Just don't do anything you don't love.

 

[vberch]

Great post!

Quote:

Originally Posted by KYTGuy /img/forum/go_quote.gif Allow me to preach for a few lines: I went to the United States Merchant Marine Academy - It is a Full-On Military Academy, so those of you who can't stomach the thought, will have to skip away... My family had zero money for me, and I hadn't saved any money from my jobs before College. It was "get a scholarship", or I was going to go to Nashville Auto-Diesel Trucking school to become a certified mechanic. By dint of wearing uniforms, marching and standing a few watches, I got a pretty good Engineering Degree, complete with nearly unlimited access to free mainframe computer time, and got a CIVILIAN job paying over $70k, this in 1975. No Student loans, no debt, and they paid me to go to school...IIRC, it was $380 per month. Free housing, free laundry, free food, free clothes, free books, free lab fees, free everything but soda and pizzas. I gave up some freedom, gave most time for dating and hooning around, but it was a good deal. I had a six-year Navy Reserve obligation, and had to take some correspondence courses to advance my reserve rank (didn't have to , but I wanted to, in case I was called in). The United States Merchant Marine Academy is the only Federal Military Academy where you graduate and can go immediately into Civilian jobs, usually paying over $85k right now, to start. I topped out (in less than six years) @$130k, plus Union Benefits that are worth more than $100k more per year, and kept that up for over Thirty Years. I retired at age 51, with more money than I will be able to spend till I am Dead. The USMMA is still open..... Now, my daughter has taken all the advanced courses (AP) and college courses she could while in High School - then she went two years at the local community college - Then she enlisted in the USAF. By paying about $1800 into the GI bill account, she will be given nearly $40k to finish her college education at any college she chooses. She has less than two years to go to get a BS degree in the sciences - she likes Physics/Astrophysics, and will probably go there. She wants to get into the Space Program. Her specialty in the USAF leads that way anyway, and if she is chosen, she will be encouraged to go to the best college she wishes to finish at USAF expense. If she is not chosen, she will be able to finish her Education with very little out-of pocket, as a Civilian, after her six year enlistment is finished. Even though her pay is small in the USAF (around $2k/mo), she has almost no financial needs - food and housing are free for her. She is living on less than $400/month, and saving all that is left after taxes - nearly $1k/month!! The other Branches of the military offer similar benefits, and there are plenty of career paths offered - get OJT and pay too, while going new places. To those who would point out that that includes places like Afghanistan and Iraq, as though it was certain they would all die, I must reply: To date, there have cycled through those places, some 2.5 million troops - some 3,500 have, sadly , lost their lives. That is less than those who didn't go - it is statistically much safer to go than to stay Stateside! To those thinking about the costs of going to college: Think again! Then look at the Military, either enlisted, officer, or the Academies. They will set you ahead of the pack of your peers, and on a positive upward path. I know that it has really made my life rich and wonderful. <puts away his soap-box>

 

[porschemad911]

Quote:

Originally Posted by YamiTenshi /img/forum/go_quote.gif You'd be surprised the credit card debt some people in their 20s have accumulated.

Yep, we live in a world filled with many financially irresponsible, or just plain stupid people.

Unfortunately I am one of them, I made some bad (read impulse) car purchases and owe $10K on a $3K car now. Oh well, that's nothing really, but I probably shouldn't be buying headphones and amps, but rather pay it off ASAP!

 

[yage]

Quote:

Originally Posted by Jigglybootch /img/forum/go_quote.gif Well, I got my student loan repayment schedule. I owe $1000 every month to cover the loans. So it looks like I'll see you guys in about 20 years. Later.

I would read over this article from Bankrate very carefully about student loan consolidation and loan forgiveness programs.

And if you haven't done so already, head over to PaycheckCity to start estimating your take home pay and plan a budget.

Good luck!


-Harland

 

[luvdunhill]

Quote:

Originally Posted by Whitebread /img/forum/go_quote.gif I did get significant grants from 2 other schools, neither of which I liked. I really did not want to go to a technical school. Schools that focus on engineering alone are far to esoteric for me. They lack a whole spectrum of people you might find at a school with strong liberal arts roots. I found that cornell had the best mix of engineering competance as well as strong liberal arts colleges. I'm glad I didn't go to any of the other schools I got into where I'd be surrounded by engineering and engineers all the time. As it turns out, all of my good friends are NOT engineers. Matter of fact, they are hotellies with little technical knowledge or competance.

well said! excellent post!

I programmed my way through my Master's degree at Columbia, it's definitely doable ...

 

[no1likesme]

I feel your pain. When I finish school I will be ~$75k in debt

 

[chesebert]

Quote:

Originally Posted by MoxMonkey /img/forum/go_quote.gif That's the absolute wrong attitude to adopt, debt isn't certain. I've put myself through three full years of school as well as have owned a car for most of it without any debt. Debt is dependant on lifestyle and not something that is always there. (The only decent point is buying a house, school and car don't have to be debt)

right..except your tuition isn't $35k a year like some folks on this forum. So it really depends on how much $$ your school is asking for.

 

[Whitebread]

Quote:

Originally Posted by luvdunhill /img/forum/go_quote.gif well said! excellent post! I programmed my way through my Master's degree at Columbia, it's definitely doable ...

Thanks!