Off Topic US College

[bogwoppit]

Yes Quebec has very high taxes. Post secondary education is subsidised by about 81%. Everyone pays.

 

[emilykatherine]

Most of us don't have upwards of $200k laying around in order to pay cash for an expense like this. We do have a college fund, but we also have to live during the time between now and college. Rising college costs are a huge issue in the US as they are pricing many folks out do to drastically rising costs.

I'm just joking around we watch him in my personal finance class and it drives me crazy...

 

[Seeker]

Dave's response to that would be - if you don't have the resources to cashflow it then you have no business going. Pick a less expensive school. Live at home. Get a job/start your own business to save up money, then go to college. Or don't go to college at all. Find a career where you don't need a 4 yr degree. In the US, we have been conditioned to believe that you HAVE TO have a degree to get anywhere in this world. That simply isn't true. And you certainly don't need to go to a $60K/yr college. The middle class in particular has been conditioned to think that if you don't go to college, you are somehow a failure, which obviously isn't true either.

Also, like another poster mentioned, while the private colleges appear to be very high, they typically give a lot more in the way of scholarships and grants than public schools give. The Ivy's are usually the most expensive but they are also some of the most generous (based solely on income/need).

How many 18 yr olds have that kind of money (the "you" in your statement appears to apply to the student, not me)?

I am well aware of Dave and all your other points, just offering a different view. My parents didn't pay one dime for my education because they could not afford it. I'm glad I didn't take that to mean I shouldn't go to college. I had A LOT of debt when I graduated (no, I didn't spend $60k a year either and yes, I worked full time the whole time and I still had debt). I paid it off on my own. It was hard, but I did it. The debt kids are coming out of even a low or mid-tiered school with nowadays is nearly double what I had and it is a big problem. One that isn't going away anytime soon.

 

[gymgal]

How many 18 yr olds have that kind of money (the "you" in your statement appears to apply to the student, not me)?

I am well aware of Dave and all your other points, just offering a different view. My parents didn't pay one dime for my education because they could not afford it. I'm glad I didn't take that to mean I shouldn't go to college. I had A LOT of debt when I graduated (no, I didn't spend $60k a year either and yes, I worked full time the whole time and I still had debt). I paid it off on my own. It was hard, but I did it. The debt kids are coming out of even a low or mid-tiered school with nowadays is nearly double what I had and it is a big problem. One that isn't going away anytime soon.

You make good points. I was merely stating what Dave would say, though I do agree with a lot if it. There are ways to get a good college education without going into debt. It certainly isnt the easiest path and likely not the preferred path for many but it can be done. There are other options. people just assume that with a college degree comes enormous loans but that doesnt have to be the case.

 

[barcrawler]

My oldest kid is in community college, for which I pay about $5000 per year (all in, including tuition, fees, and books) That's less than I pay for my other 3 younger kids' activities combined (gymnastics, tae kwon do, travel soccer)

After 2 years, she'll go to a public in state university, where we are looking at about $20000 per year. So hopefully less than $50000 total for her college degree.

We could not do the 200k route for college for one kid. Just not happening.

 

[Somekiwichic]

It's so different in the US to NZ.

Here pretty much every person who is accepted to do tertiary study can get a student loan. The loan is interest free unless you move out of the country.

Parents very rarely pay for university here, I don't understand why they do in the States? Is it that they can't get a student loan? Or that they don't want them to have a large debt?


However, in NZ we also only have about 5 universities and then other study options like Wintec etc. We're a small country though, so we basically have one in every major city.

Fees aren't as high either. It's about $5,000 per year for the papers. I'm doing law so books can add up to $2,000 if you got every compulsory text book new, case books, statutes etc.
Interesting how different countries are in this aspect though.

 

[JBS]

Here's some good reading...

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Link Removed

College is just big business at it's finest. Some drink gas station coffee and some drink Starbucks...but caffeine is still caffeine.

 

[Iwannabemargo]

What interests me is I hear a lot of US reality TV ( well JJ) about people working full time and going to college. Now I know here my course was 36 hours a week of lectures and tutorials plus all associated coursework - I had a job on Saturdays and I worked all the holidays but I really did not have time to work during college. How can people in the US do that ? Do they have very few hours in lesson time ?

 

[skschlag]

I worked full time in college. I had a full scholarship, but worked full time as well. I took 15-18 hours of classes a week (credit hours) which is 15-18 hours in class, plus studying, etc. It was doable until I got to the practicums and student teaching. I then worked part time, 3rd shift.

 

[Iwannabemargo]

ah, that makes more sense - there are only so many hours in the day

 

[bogwoppit]

Full time college here is not full time like in the UK. My oldest DD is in full time right now and has 24 hours a week of classes. Starts Aug 18 - Dec 11 then Jan 24 - May 11. Lots of time to work if they need to. Though in Quebec to get loans and bursaries your income and your parents income is taken in to account until you are deemed a mature student. Parents are told exactly how much they must pay for their child. With a combined income of over $56,000 a year before tax you would get no help for costs.

Though lots of kids do vocational training here, it definitely is not the norm for every kid to go to uni, most that do live at home or it apartments with friends. Dorm life is definitely not a big deal at all.

 

[Bajanswife]

Our local Government-funded university used to be free (well, except for a very small fee for miscellaneous things like stationery etc.) up until last year. Now I think it's maybe US$3,000 per year? The community college is way less than that - under $1,000 per year. It is easy to get tertiary education here, as long as you have the marks coming out of high school to be accepted. My kids can easily get a college education. The issue is that I would like them to get some experience in a bigger country for a while, but paying the foreign student surcharge is just not in our budget right now. Maybe if they did their under-grad here they could do some sort of exchange with a foreign college - there are opportunities for that.

 

[bogwoppit]

I have told mine they need to do undergrad here, no sense in going abroad for it cost wise. They can explore other possibilities after that.

 

[kandkfunk]

We are just starting to face these decisions with my DD. She is a junior in high school with good grades and the potential to participate in A&T in college. Even with all of that, she will need to get as many scholarships as possible and possibly take out loans to go to a state school. She will not get much need based financial aid (I make more with my college degree than my parents did combined without degrees), but that doesn't mean we can afford to pay a ton for school. If the A&T route doesn't work out, then I can see her possibly opting for a Community College to get her AA degree and then transferring to a larger school. The other option would be a private school and hope that she can qualify for a bunch of scholarships. Being on the parent side of things this time is definitely stressful, but in a different way. The next two years should definitely be interesting.