Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Tell me about it. My daughter just completed 7 years ( two undergrad degrees and a masters ) and will go to work in a career making little more than a truck driver, carpenter or mechanic. She did though do it with scholarships and my money. No debt incurred. Thank God she is marrying in May and off my payroll. Daddy is getting a giant raise.

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

We all agree that a college education should be encouraged. Personally, I think a cap on total repayment is fair. A cap of 175% of the principle is fair.

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Some of that Obama care money could be used towards education and things like cancer and HIV research. As a matter of fact, investing in SIDS research, could help HIV patients alot.

(05-01-2014 12:02 PM)AirRaid Wrote:  

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Some of that Obama care money could be used towards education and things like cancer and HIV research. As a matter of fact, investing in SIDS research, could help HIV patients alot.

We have lots of resources at our disposal. After entitlements...about 50 cents of every dollar is up for grabs to spend anywhere we wish. I agree that we do not allocate that spending effectively most of the time. We also waste a fcking ton of it padding the pockets of middle class bureaucrats and funding their useless endeavors.

Too much money goes into education and not enough comes out. Every year I have been in university the cost has gone up by a marked degree and that's even at a private institution. Name of the game, I guess.

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

They are targeting the wrong people here..

"You sit here today, $30,000 or $40,000 in debt, as the latest victims of what may well be the biggest conspiracy in U.S. history. It is a conspiracy so big and powerful that Dan Brown won’t even touch it. It’s a conspiracy so insidious that you will rarely hear its name."

Kids 30K in debt with a useful degree are not that bad off. THe real problems are the people who go to mid tier, or even very good private schools for useless degrees and rack up a hundred thousand or more in debt.

Here is the part that pisses me off when people pimp college at all costs..

"They point to U.S. Census data showing those with bachelor’s degrees earning on average $26,000 a year more than those with just a high-school diploma. "

What they ignore is that this bundles in STEM with the less employable, lower paid majors.

If I make just over six figures as an Engineer (and would have otherwise made 40-50K) that's a +50K. Bundle me in with one kids who is not making much, if anything more and *bam* 25,000$ average.

(05-01-2014 11:43 AM)HeartOfDixie Wrote:  We all agree that a college education should be encouraged. Personally, I think a cap on total repayment is fair. A cap of 175% of the principle is fair.

I useful college education...

Federal loans should be given out on the basis of societal need and not for any old thing..

If we need Engineers there they are, if we need nurses or teachers there they are... When there is a compelling need for queer studies majors then fund them..

(05-01-2014 12:37 PM)Bull_In_Exile Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

They are targeting the wrong people here..

"You sit here today, $30,000 or $40,000 in debt, as the latest victims of what may well be the biggest conspiracy in U.S. history. It is a conspiracy so big and powerful that Dan Brown won’t even touch it. It’s a conspiracy so insidious that you will rarely hear its name."

Kids 30K in debt with a useful degree are not that bad off. THe real problems are the people who go to mid tier, or even very good private schools for useless degrees and rack up a hundred thousand or more in debt.

Here is the part that pisses me off when people pimp college at all costs..

"They point to U.S. Census data showing those with bachelor’s degrees earning on average $26,000 a year more than those with just a high-school diploma. "

What they ignore is that this bundles in STEM with the less employable, lower paid majors.

If I make just over six figures as an Engineer (and would have otherwise made 40-50K) that's a +50K. Bundle me in with one kids who is not making much, if anything more and *bam* 25,000$ average.

Piling up debt to be able to get a high paying job right out of college is fine. Piling up debt to get a social science related degree is fcking foolish.

One of the things I wish people would consider more often is starting to save for your child's education at birth. This is what my wife and I did. With the help from some small scholarships we were able to get our daughter though 7 years of college without a penny of debt and enough left over to buy her a good used car. You just have to start early. We started a Fidelity UTMA account when she was born and had the additions put in monthly by draft. The money was invested in the market in the form of index funds. Worked out very well for us.

(05-01-2014 12:49 PM)Fo Shizzle Wrote:  

(05-01-2014 12:37 PM)Bull_In_Exile Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

They are targeting the wrong people here..

"You sit here today, $30,000 or $40,000 in debt, as the latest victims of what may well be the biggest conspiracy in U.S. history. It is a conspiracy so big and powerful that Dan Brown won’t even touch it. It’s a conspiracy so insidious that you will rarely hear its name."

Kids 30K in debt with a useful degree are not that bad off. THe real problems are the people who go to mid tier, or even very good private schools for useless degrees and rack up a hundred thousand or more in debt.

Here is the part that pisses me off when people pimp college at all costs..

"They point to U.S. Census data showing those with bachelor’s degrees earning on average $26,000 a year more than those with just a high-school diploma. "

What they ignore is that this bundles in STEM with the less employable, lower paid majors.

If I make just over six figures as an Engineer (and would have otherwise made 40-50K) that's a +50K. Bundle me in with one kids who is not making much, if anything more and *bam* 25,000$ average.

Piling up debt to be able to get a high paying job right out of college is fine. Piling up debt to get a social science related degree is fcking foolish.

One of the things I wish people would consider more often is starting to save for your child's education at birth. This is what my wife and I did. With the help from some small scholarships we were able to get our daughter though 7 years of college without a penny of debt and enough left over to buy her a good used car. You just have to start early. We started a Fidelity UTMA account when she was born and had the additions put in monthly by draft. The money was invested in the market in the form of index funds. Worked out very well for us.

That's what we did as well. Heck, I started a savings acct the day I found out my wife was pregnant then then put that in a 529 after the kid was born. Stick a little in the plan each pay period.

(05-01-2014 12:51 PM)VA49er Wrote:  

(05-01-2014 12:49 PM)Fo Shizzle Wrote:  

(05-01-2014 12:37 PM)Bull_In_Exile Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

They are targeting the wrong people here..

"You sit here today, $30,000 or $40,000 in debt, as the latest victims of what may well be the biggest conspiracy in U.S. history. It is a conspiracy so big and powerful that Dan Brown won’t even touch it. It’s a conspiracy so insidious that you will rarely hear its name."

Kids 30K in debt with a useful degree are not that bad off. THe real problems are the people who go to mid tier, or even very good private schools for useless degrees and rack up a hundred thousand or more in debt.

Here is the part that pisses me off when people pimp college at all costs..

"They point to U.S. Census data showing those with bachelor’s degrees earning on average $26,000 a year more than those with just a high-school diploma. "

What they ignore is that this bundles in STEM with the less employable, lower paid majors.

If I make just over six figures as an Engineer (and would have otherwise made 40-50K) that's a +50K. Bundle me in with one kids who is not making much, if anything more and *bam* 25,000$ average.

Piling up debt to be able to get a high paying job right out of college is fine. Piling up debt to get a social science related degree is fcking foolish.

One of the things I wish people would consider more often is starting to save for your child's education at birth. This is what my wife and I did. With the help from some small scholarships we were able to get our daughter though 7 years of college without a penny of debt and enough left over to buy her a good used car. You just have to start early. We started a Fidelity UTMA account when she was born and had the additions put in monthly by draft. The money was invested in the market in the form of index funds. Worked out very well for us.

That's what we did as well. Heck, I started a savings acct the day I found out my wife was pregnant then then put that in a 529 after the kid was born. Stick a little in the plan each pay period.

I like the plan they have here in NC in which you can prepay tuition in the UNC system also. You are paying for your child's education in today's dollars and beating inflation. It might be better than earnings in the market and you do not have taxes to worry about. That does though limit them to the UNC institutions..not that there is anything wrong with that.

Paying for an education is one thing; the value of that education is something entirely different. Likewise, overpaying for an overvalued education is something different again.

The cost of education, a 'useful' degree or a 'useless' degree, for people who cannot otherwise afford to go is the problem.

With costs rising so quickly we have to ask ourselves what can be done because the trillion + dollar baggage is hurting.

(05-01-2014 12:56 PM)Fo Shizzle Wrote:  

(05-01-2014 12:51 PM)VA49er Wrote:  

(05-01-2014 12:49 PM)Fo Shizzle Wrote:  

(05-01-2014 12:37 PM)Bull_In_Exile Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

They are targeting the wrong people here..

"You sit here today, $30,000 or $40,000 in debt, as the latest victims of what may well be the biggest conspiracy in U.S. history. It is a conspiracy so big and powerful that Dan Brown won’t even touch it. It’s a conspiracy so insidious that you will rarely hear its name."

Kids 30K in debt with a useful degree are not that bad off. THe real problems are the people who go to mid tier, or even very good private schools for useless degrees and rack up a hundred thousand or more in debt.

Here is the part that pisses me off when people pimp college at all costs..

"They point to U.S. Census data showing those with bachelor’s degrees earning on average $26,000 a year more than those with just a high-school diploma. "

What they ignore is that this bundles in STEM with the less employable, lower paid majors.

If I make just over six figures as an Engineer (and would have otherwise made 40-50K) that's a +50K. Bundle me in with one kids who is not making much, if anything more and *bam* 25,000$ average.

Piling up debt to be able to get a high paying job right out of college is fine. Piling up debt to get a social science related degree is fcking foolish.

One of the things I wish people would consider more often is starting to save for your child's education at birth. This is what my wife and I did. With the help from some small scholarships we were able to get our daughter though 7 years of college without a penny of debt and enough left over to buy her a good used car. You just have to start early. We started a Fidelity UTMA account when she was born and had the additions put in monthly by draft. The money was invested in the market in the form of index funds. Worked out very well for us.

That's what we did as well. Heck, I started a savings acct the day I found out my wife was pregnant then then put that in a 529 after the kid was born. Stick a little in the plan each pay period.

I like the plan they have here in NC in which you can prepay tuition in the UNC system also. You are paying for your child's education in today's dollars and beating inflation. It might be better than earnings in the market and you do not have taxes to worry about. That does though limit them to the UNC institutions..not that there is anything wrong with that.

They have that in VA as well. For an infant, the lump sum payment is around $61,000 as of today. Of course, that can be broken down into monthly installments but I'm sure there's a "fee" involved. It's not a bad deal, if the kid decides to go to school in VA. However, that's a large chunk of change to give away so someone else can play with it for 18 years and make money off of it. It may be wiser, if one has that amout of cash on hand, to invest it oneself.

EDIT: Yep, I knew there had to be a fee. The interest rate is 8% if one decides to pay monthly.

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Are you sure? It was free in my case. The State of Arkansas has gotten decades worth of increased taxes out of me FAR beyond what they ever spent on helping me attend college.

I was converted from negative producer to positive producer with a few relatively small grants.

(05-01-2014 01:39 PM)ark30inf Wrote:  

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Are you sure? It was free in my case. The State of Arkansas has gotten decades worth of increased taxes out of me FAR beyond what they ever spent on helping me attend college.

I was converted from negative producer to positive producer with a few relatively small grants.

I understand your point and I have no problem with helping those in need...but...it still ain't free. Someone paid for the grants. They got money trees in Arkansas? If so...I need to move there asap.

Excuse this hyperbole..but..Anyone can convert from a negative producer to a positive one without stealing from others. It happens every second through hard work and desire.

The Education Bubble will saddle the taxpayer with the bailout. Too Big to fail gov't program, have we learned nothing, or is that haven't we learned anything.

(05-01-2014 04:09 PM)Fo Shizzle Wrote:  

(05-01-2014 01:39 PM)ark30inf Wrote:  

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  

(05-01-2014 10:39 AM)HeartOfDixie Wrote:  Truly worth a read

The 'constant dollar' calculation of tuition costs is very telling.

So, now that millions of Americans are loaded up with artificially inflated debt what are we going to do about it?

Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Are you sure? It was free in my case. The State of Arkansas has gotten decades worth of increased taxes out of me FAR beyond what they ever spent on helping me attend college.

I was converted from negative producer to positive producer with a few relatively small grants.

I understand your point and I have no problem with helping those in need...but...it still ain't free. Someone paid for the grants. They got money trees in Arkansas? If so...I need to move there asap.

Excuse this hyperbole..but..Anyone can convert from a negative producer to a positive one without stealing from others. It happens every second through hard work and desire.

It turned out to be better than free. The State has made its money back on my education years ago.

I went from just above minimum wage paying almost no state taxes to one of the higher tax brackets. Multiply that difference by over two decades.

I was non-traditional so if it had not been for college my income would not have progressed much.

(05-01-2014 04:23 PM)ark30inf Wrote:  

(05-01-2014 04:09 PM)Fo Shizzle Wrote:  

(05-01-2014 01:39 PM)ark30inf Wrote:  

(05-01-2014 11:41 AM)Fo Shizzle Wrote:  

(05-01-2014 11:17 AM)AirRaid Wrote:  Its not telling much at all. The only thing this tells me is the government, federal or state, liberal or conservative, doesnt give a crap about education.

So the answer would be what? Free college education for everyone? Hey...I have no problem with whatever free stuff we want to give out. Just find the way to pay for it...cause...it ain't really free.

Are you sure? It was free in my case. The State of Arkansas has gotten decades worth of increased taxes out of me FAR beyond what they ever spent on helping me attend college.

I was converted from negative producer to positive producer with a few relatively small grants.

I understand your point and I have no problem with helping those in need...but...it still ain't free. Someone paid for the grants. They got money trees in Arkansas? If so...I need to move there asap.

Excuse this hyperbole..but..Anyone can convert from a negative producer to a positive one without stealing from others. It happens every second through hard work and desire.

It turned out to be better than free. The State has made its money back on my education years ago.

I went from just above minimum wage paying almost no state taxes to one of the higher tax brackets. Multiply that difference by over two decades.

I was non-traditional so if it had not been for college my income would not have progressed much.

Exactly. I was in the same boat. The feds helped me pay for my college but they are getting a massive return on investment because I am paying much more in taxes than I would have otherwise.

It's amazing that many don't see it that way.