To school, or not to school . . .

[backstept]

last month I enrolled at ITT
classes begin next week

I was just reveiwing my paperwork and it hit me like a brick.
47000 bucks for two years . . .
I'd be paying it off until 2022!
I didn't sign those papers without reading them, I did read them, but I guess I didn't really think it through
I think I was blinded by my own enthusiasm.

so I'm thinking about withdrawing and finding a cheaper program at the local community college or something . . .

 

[RoJoHen]

Yeah, college ain't cheap. I'll probably be paying mine off until I'm 40.

 

[data_lover]

you are aware of how much you're paying out of pocket, right? at max the student loan payouts (junior and senior level) is 12,500 a year. if you get maximum pell that's like 16500, leaving you with seven grand a year out of pocket expense. i worked at admissions for a university and we had a lot of problems with people attending these schools thinking that their tuition was fully covered by student loans. When they weren't they were pulled from classes mid year and told they had to cover the rest or lose their credits.

 

[backstept]

ittakestime.org
definitely going to see about withdrawing, and possibly going to community college

I'm glad I made this decision before going to classes

thanks, data_lover

 

[Spot's Meow]

There's just no need to go pay so much money for your education when there are schools out there that are just as good that are way less expensive. It takes work and a lot of energy to search out the good schools with good prices, but they are out there!

 

[RoJoHen]

There's just no need to go pay so much money for your education when there are schools out there that are just as good that are way less expensive. It takes work and a lot of energy to search out the good schools with good prices, but they are out there!

I like to think that I paid for the chance to make friends.

Seriously, it sucked paying so much, and I definitely could have found a cheaper place to go, but if I had done that, I wouldn't have the awesome friends I have now, nor would I have my two godchildren. So it was worth it to me in the end.

 

[sojourner]

If you were going for I.T., screw classes. get an entry level job and start studying for the certifications on your own. In the 4 years you would have spent in school, you'll have more certifications, real world experience and more money. You'll come out with a much better resume for time spent.

 

[jamestyler]

If you were going for I.T., screw classes. get an entry level job and start studying for the certifications on your own. In the 4 years you would have spent in school, you'll have more certifications, real world experience and more money. You'll come out with a much better resume for time spent.

I second this. Not just for that reason, but I've known a lot of people who have spent a lot of money to get the right qualifications to either have them go to waste or end up in the above scenario where the learning is done on the job.

 

[TheBrew]

Yeah, I think that school is a waste of time for many basic tech jobs; experience trumps all, IMO.

Though I do plan on going back to school, but more for intellectual pursuits.

 

[John Picard]

Borrowing money to go to school is the stupidest course of action someone can take. If it takes 6 years to get a degree, then so be it, but don't go into debt over it. More employers than ever offer some kind of tuition assistance.

 

[T'Baio]

This is why it blows my mind when kids in Canada complain about the cost of our tuition. We have it amazingly good here. $47,000 for two years? In I.T.? Med school in Canada is cheaper than that.

 

[SeerSGB]

Borrowing money to go to school is the stupidest course of action someone can take. If it takes 6 years to get a degree, then so be it, but don't go into debt over it. More employers than ever offer some kind of tuition assistance.

This right there.

I looked at the cost of going back to school (still in "the plan") and there's no effing way we could afford if I didn't put us into so much debt as to ruin us financially--- remember kids, a lot of student-loans are NOT discharged through bankruptcy actions, meaning even if you file you're stuck with that monster debt.

So the immediate goal is to find a employer that offers tuition-assistance, even if it means taking less on the pay/hours side. The tuition assistance would make it worth the up-front loss for the long-term gain of getting school paid for.

 

[Marten]

Tuition is free where I come from, and then you get about 300$ as support, and can loan up to 800$ more from the government. Almost no interest rate, on top of that. It's a whole lot different, but overall I think it's better in the long run to subsidize education.

 

[sojourner]

This is why it blows my mind when kids in Canada complain about the cost of our tuition. We have it amazingly good here. $47,000 for two years? In I.T.? Med school in Canada is cheaper than that.

To be fair, he didn't say it was for I.T., he said it was to ITT. I just made a guess that since it was a technical school that he might be looking at I.T.

 

[Holdfast]

I was lucky enough to go to university before tuition fees were introduced and have parents wealthy enough to have met all my other costs. Nonetheless, some degrees would be worth going into debt for, because the returns are virtually guaranteed and sizable. It'll still take time to pay off the debt, but if you choose to subsequently stay in that degree's profession, it's something you would eventually do.

Most degrees, though, are appalling returns on investment, esp. lower degrees like Bachelors. I think most people would be better off considering college as an opportunity for a 3 year extended vacation, with the associated enjoyment, experiences and broadening of the mind. That's what you're really paying for, and viewed that way, it's a pretty reasonable expenditure if you can afford it. The degree obtained at the end is an added bonus, like the dodgy liquor you always end up buying in duty-free before the flight home.

If you're more interested in a career than growing as a person, I think research suggests you still get a better average salary over your lifetime with a degree than without one, but the gap is closing, and the opportunities to get the degree later (funded by someone else like your employer) are growing.

 

[SeerSGB]

My wife's employer is (if the rumor mill out of the DM office telling the truth) looking at paying management level (shift and above) to take courses to certify as Pharmacy-techs, and GMs as Pharmacist. I told her if they do it (BIG IF cause it seems to good), she needs to go for it.

 

[John Picard]

Nonetheless, some degrees would be worth going into debt for, because the returns are virtually guaranteed and sizable. It'll still take time to pay off the debt, but if you choose to subsequently stay in that degree's profession, it's something you would eventually do.

I disagree mainly due to the aspect of carrying a loan, plus interest, versus income. I recently read a great article of a doctor who was literally in the poor house due to student loans. Right, everyone thinks, "Oooh, a doctor. That shouldn't be a problem." but it is. She had to move back with her parents in order to stay afloat and has been a practicing physician for over 8 years. Granted, she wasn't very wise in how she borrowed or the amounts (all of which were detailed). There are many, many people out there who opted to get loans in order to pursue an MBA believing that larger incomes would follow.

There is not guarantee of a larger income following an advanced education. I've also read where it's a myth that people with (at least) a Bachelor's will earn more than someone who doesn't, over a lifetime. Why? Student debt wipes out the possibility of enjoying higher earnings.

 

[SeerSGB]

Nonetheless, some degrees would be worth going into debt for, because the returns are virtually guaranteed and sizable. It'll still take time to pay off the debt, but if you choose to subsequently stay in that degree's profession, it's something you would eventually do.

I disagree mainly due to the aspect of carrying a loan, plus interest, versus income. I recently read a great article of a doctor who was literally in the poor house due to student loans. Right, everyone thinks, "Oooh, a doctor. That shouldn't be a problem." but it is. She had to move back with her parents in order to stay afloat and has been a practicing physician for over 8 years. Granted, she wasn't very wise in how she borrowed or the amounts (all of which were detailed). There are many, many people out there who opted to get loans in order to pursue an MBA believing that larger incomes would follow.

There is not guarantee of a larger income following an advanced education. I've also read where it's a myth that people with (at least) a Bachelor's will earn more than someone who doesn't, over a lifetime. Why? Student debt wipes out the possibility of enjoying higher earnings.

Also supply and demand: The more people in your field,with a similar degree, in your job market, the less employers can get away with paying cause someone will bite. Why pay you [in the figurative sense] $15 a hour, when they can grab some kid loaded down with loans or some 50 something that's desperate for a job $9 a hour.

I know people with 4 year degrees taking big paycuts (a couple as much as 60%) to keep their jobs.

 

[John Picard]

Nonetheless, some degrees would be worth going into debt for, because the returns are virtually guaranteed and sizable. It'll still take time to pay off the debt, but if you choose to subsequently stay in that degree's profession, it's something you would eventually do.

I disagree mainly due to the aspect of carrying a loan, plus interest, versus income. I recently read a great article of a doctor who was literally in the poor house due to student loans. Right, everyone thinks, "Oooh, a doctor. That shouldn't be a problem." but it is. She had to move back with her parents in order to stay afloat and has been a practicing physician for over 8 years. Granted, she wasn't very wise in how she borrowed or the amounts (all of which were detailed). There are many, many people out there who opted to get loans in order to pursue an MBA believing that larger incomes would follow.

There is not guarantee of a larger income following an advanced education. I've also read where it's a myth that people with (at least) a Bachelor's will earn more than someone who doesn't, over a lifetime. Why? Student debt wipes out the possibility of enjoying higher earnings.

Also supply and demand: The more people in your field,with a similar degree, in your job market, the less employers can get away with paying cause someone will bite. Why pay you [in the figurative sense] $15 a hour, when they can grab some kid loaded down with loans or some 50 something that's desperate for a job $9 a hour.

I know people with 4 year degrees taking big paycuts (a couple as much as 60%) to keep their jobs.

*BINGO* hence the fallacy of the argument that an advanced degree will (always)increase future earnings potential. In my industry, it network technicians always bragged their salaries were increasing (with no end in sight). Boy were they surprised with salaries dropped.

 

[SeerSGB]

My youngest cousin just got out of Community College with a BS in Computer Science and Networks (or something like that). Me and a couple buddies told him: there's no money in it anymore. But nooooooo, his guidance-counselor said he could be making a million-plus a year just doing IT set ups for companies...he's flipping burgers at Hardees on the morning shift and driving forklift at a Lowes on a closing shift cause he can't fight any IT jobs around here and businesses shutting down don't need new servers or computer systems. The ones he does finds out of town don't pay that well for entry-level, and he'd have to foot his own moving costs. He's got close to 30k in school debt and credit-card debt related to school.

He called me the other week wanting to know if I had any leads to toss him or a need for help to get through the season (I usually pick up a lot print layout stuff this time of year for festivals). I told him I was hurting as bad if not worse than him, and he should have listened.