Another moron borrows > $100K for an undergrad degree

[DumbAss Tanker]

True, but I don't think the young lady in the story had any connection to DU...though she doesn't seem to be big on thinking ahead, either, so you never know...

[Ogre]

True, but I don't think the young lady in the story had any connection to DU...though she doesn't seem to be big on thinking ahead, either, so you never know...

She just doesn't know DU exists yet.  With her forward thinking skills, or lack there of, she would fit right in!

[miskie]

Why is it primitives are all for state schools until they attend college themselves? then its private & Ivy League all the way...

[longview]

I don't buy her story.  Or, rather, I don't buy the story the way it is reported.

When you get a student loan, you are supposed to attend a loan counseling session.  The lender needs the borrower(s) signature(s) on file that they have attended such a session.  Even if no one speaks to the borrowers, the paper they sign has the costs of the loan on it. 

There is also a law regarding truth in lending, or some such.  That document, too, has all the costs associated with the money being borrowed on it.  Including total payoff if paid at the agreed rate.

[Traveshamockery]

My son went to a state school as well and graduated three years ago.  It ended up being about $6,000.00 per year and he actually got an education in a field where he could actually get a job.  He lived at home as well. 

[Big Dog]

I'll brag a little- two generations of college education here, with zero debt.

Me: Montgomery GI Bill and tuition assistance from the Army National Guard.

My son, who graduates at the end of the summer term: Part paid for by my ex-wife's transferred Post-9/11 GI Bill, and the rest paid by me. He plans to join the Army after he graduates.

[Tucker]

DUmbass should have gone to a state school. I graduated with my Bachelors this past weekend and have about $15,000 in loans over 4 years. That's what I get for enlisting and using my GI Bill and Hazlewood benefits for most of it.

Hint, hint, DUmbass.

Congratulations. 

I went the military, GI Bill route. Small school as well. I just wish that the SOB's insisted on making me a better typist. (probably help if I take the damn thing off of my thigh.)

I was married and had a child so a little extra $$$ there. (The woman trapped me and I did the honorable thing and married her.   )

[I_B_Perky]

Why is it primitives are all for state schools until they attend college themselves? then its private & Ivy League all the way...

Cause they are oh soo enlightened and oh soo smart and oh soo better than to go to some college where the riffraff attend.

[USA4ME]

I don't buy her story.  Or, rather, I don't buy the story the way it is reported.

When you get a student loan, you are supposed to attend a loan counseling session.  The lender needs the borrower(s) signature(s) on file that they have attended such a session.  Even if no one speaks to the borrowers, the paper they sign has the costs of the loan on it. 

There is also a law regarding truth in lending, or some such.  That document, too, has all the costs associated with the money being borrowed on it.  Including total payoff if paid at the agreed rate.

I agree, but for a different reason.

I've done mortgage loans for over 20 years and have never seen a Sallie Mae (or other student loan) payment at $900 month, even years after the person had graduated and definately not in the few years after graduation.  Something in that story isn't right.

.

[AprilRazz]

Currently attending school with post 9/11 GI bill and Pell grant. BAH covers the expenses and the money from the Pell takes care of any extras. My school is yellow ribbon so the Pell gets sent back to me. Will be a debt free grad next year.

[Karin]

And there's a DUmmie on their thread lamenting about her daughter.  Daughter takes classes, blows them off, doesn't take them seriously, and flunks them.  There's money down the toilet.  Now she has to re-take them.  What on earth would you guys do if your kid pulled that?  This DUmmie daughter must be used to everything free, and so doesn't have the mindset that she has paid good money for something of value, and should therefore maximize it. 

I knew a guy, a big liberal democrat, his son had a GPA in college of 1.5.  I asked the guy, "why aren't you kicking him in the ass??!"  He said, "oh, i guess i should........"  Expensive ****ing Cornell education, and the guy partied through all of it.

[Gina]

And there's a DUmmie on their thread lamenting about her daughter.  Daughter takes classes, blows them off, doesn't take them seriously, and flunks them.  There's money down the toilet.  Now she has to re-take them.  What on earth would you guys do if your kid pulled that?  This DUmmie daughter must be used to everything free, and so doesn't have the mindset that she has paid good money for something of value, and should therefore maximize it. 

I knew a guy, a big liberal democrat, his son had a GPA in college of 1.5.  I asked the guy, "why aren't you kicking him in the ass??!"  He said, "oh, i guess i should........"  Expensive ****ing Cornell education, and the guy partied through all of it.

My kids get one shot at something if I pay for it.  They don't find it important enough the first time and blow it off then they are screwed.  That woman's daughter is just a user and lazy.

[DumbAss Tanker]

Failure can be a learning experience too, the big watershed is whether the student learns from it, regroups, and moves on, or decides that he or she likes failing.  In the latter case, they probably have a future in fast food or a union job.

[VivisMom]

And there's a DUmmie on their thread lamenting about her daughter.  Daughter takes classes, blows them off, doesn't take them seriously, and flunks them.  There's money down the toilet.  Now she has to re-take them.  What on earth would you guys do if your kid pulled that?  This DUmmie daughter must be used to everything free, and so doesn't have the mindset that she has paid good money for something of value, and should therefore maximize it. 

I knew a guy, a big liberal democrat, his son had a GPA in college of 1.5.  I asked the guy, "why aren't you kicking him in the ass??!"  He said, "oh, i guess i should........"  Expensive ****ing Cornell education, and the guy partied through all of it.

I know that for me, it took me paying for all of it to be the kick in the ass I needed.

College was one big party. I failed classes, had to take summer classes to graduate in 4 years. My parents were pissed! However, when I went back to grad school, the loans were all in my name and I was sure as hell going to get my money's worth! It took me awhile to realize the value of education, and how lucky I was my parents paid for my schooling-elementary through college.

I'm hoping my kids don't need to learn that lesson, but since Vivi is just like her momma...yeah. Not looking good.

[BlueStateSaint]

My kids get one shot at something if I pay for it.  They don't find it important enough the first time and blow it off then they are screwed.  That woman's daughter is just a user and lazy.

But, the woman is worse for allowing the behavior.

[67 Rover]

And there's a DUmmie on their thread lamenting about her daughter.  Daughter takes classes, blows them off, doesn't take them seriously, and flunks them.  There's money down the toilet.  Now she has to re-take them.  What on earth would you guys do if your kid pulled that?  This DUmmie daughter must be used to everything free, and so doesn't have the mindset that she has paid good money for something of value, and should therefore maximize it. 

I knew a guy, a big liberal democrat, his son had a GPA in college of 1.5.  I asked the guy, "why aren't you kicking him in the ass??!"  He said, "oh, i guess i should........"  Expensive ****ing Cornell education, and the guy partied through all of it.

Does the school even allow you to continue with a 1.5GPA?  At Northeastern you would be on probation and if you did not pick up the GPA they kicked you out.

[BannedFromDU]

     The more I read from DUmmies, the more I realize how hard I've worked. Wow, I thought I was just plain normal.

     I have a PhD. I went to state schools with no scholarships or grants. I borrowed a total of $44,000 over 10 years, most of which I didn't even need, but merely wanted. I worked my ass off in undergrad and got a teaching assistantship in grad school, and supplemented that income with loans. And lurking DUmbasses, not only did I not have any help from my poor parents, but I SENT THEM MONEY FROM MY LOANS TO HELP THEM OUT. I had no military background or anything else to help defray the costs.

     Around 7 years ago or so I cut one check and paid them all off at once. Plus the $15K my wife owed from HER education. I earned that money applying the skills I developed over 10 years of hard work in school in a marketable degree program.

     So I have zero sympathy for people who treat college as a consumption good, and borrow to consume it. Go to a trade school or get a job to pay your tuition.

     Assholes.

[BlueStateSaint]

     The more I read from DUmmies, the more I realize how hard I've worked. Wow, I thought I was just plain normal.

     I have a PhD. I went to state schools with no scholarships or grants. I borrowed a total of $44,000 over 10 years, most of which I didn't even need, but merely wanted. I worked my ass off in undergrad and got a teaching assistantship in grad school, and supplemented that income with loans. And lurking DUmbasses, not only did I not have any help from my poor parents, but I SENT THEM MONEY FROM MY LOANS TO HELP THEM OUT. I had no military background or anything else to help defray the costs.

     Around 7 years ago or so I cut one check and paid them all off at once. Plus the $15K my wife owed from HER education. I earned that money applying the skills I developed over 10 years of hard work in school in a marketable degree program.

     So I have zero sympathy for people who treat college as a consumption good, and borrow to consume it. Go to a trade school or get a job to pay your tuition.

     Assholes.

And the H5.  Damned good job, BFDU.

[NHSparky]

I agree, but for a different reason.

I've done mortgage loans for over 20 years and have never seen a Sallie Mae (or other student loan) payment at $900 month, even years after the person had graduated and definately not in the few years after graduation.  Something in that story isn't right.

.

I crunched some numbers.  $100K for 12 years at 3.9 percent interest comes out to $870/month.

I'm still trying to figure out how someone got that much in loans for a four-year degree.

[Gina]

     The more I read from DUmmies, the more I realize how hard I've worked. Wow, I thought I was just plain normal.

     I have a PhD. I went to state schools with no scholarships or grants. I borrowed a total of $44,000 over 10 years, most of which I didn't even need, but merely wanted. I worked my ass off in undergrad and got a teaching assistantship in grad school, and supplemented that income with loans. And lurking DUmbasses, not only did I not have any help from my poor parents, but I SENT THEM MONEY FROM MY LOANS TO HELP THEM OUT. I had no military background or anything else to help defray the costs.

     Around 7 years ago or so I cut one check and paid them all off at once. Plus the $15K my wife owed from HER education. I earned that money applying the skills I developed over 10 years of hard work in school in a marketable degree program.

     So I have zero sympathy for people who treat college as a consumption good, and borrow to consume it. Go to a trade school or get a job to pay your tuition.

     Assholes.

a smart and frugal man is very sexy    Congratulations on being a MAN!  Thank you for your contribution to society and not like those willful deadbeats.

[Gina]

I'm hoping my kids don't need to learn that lesson, but since Vivi is just like her momma...yeah. Not looking good.

does your tongue hang out too?   

[BannedFromDU]

a smart and frugal man is very sexy    Congratulations on being a MAN!  Thank you for your contribution to society and not like those willful deadbeats.

     Those are kind words, but I am not exactly frugal. I have a watch collection that borders on the completely gay.

     But yes, I am a man. I will cop that that. 

[cclanofirish]

Same story...somewhat I graduated wiith a degree in Forensic Chemistry but now work as an IT technician. I will have paid off almost 70,000 of student loans in 5 years ( I will be finished November/December of this year). I've had to live with my parents and sacrifice on many things I've wanted, but I knew I needed to get out from under the debt. Private schools are expensive, but I don't regret the investment. 

     The more I read from DUmmies, the more I realize how hard I've worked. Wow, I thought I was just plain normal.

     I have a PhD. I went to state schools with no scholarships or grants. I borrowed a total of $44,000 over 10 years, most of which I didn't even need, but merely wanted. I worked my ass off in undergrad and got a teaching assistantship in grad school, and supplemented that income with loans. And lurking DUmbasses, not only did I not have any help from my poor parents, but I SENT THEM MONEY FROM MY LOANS TO HELP THEM OUT. I had no military background or anything else to help defray the costs.

     Around 7 years ago or so I cut one check and paid them all off at once. Plus the $15K my wife owed from HER education. I earned that money applying the skills I developed over 10 years of hard work in school in a marketable degree program.

     So I have zero sympathy for people who treat college as a consumption good, and borrow to consume it. Go to a trade school or get a job to pay your tuition.

     Assholes.

[Gina]

Can I just say it's nice to know yall belong here?  I don't have to listen to people whine about their debt like they do at the DUmp? 

[obumazombie]

Can I just say it's nice to know yall belong here?  I don't have to listen to people whine about their debt like they do at the DUmp? 

As you know, Dave Ramsey doesn't approve of debt. The borrower is slave to the lender. I have no consumer debt in my family. Once the house is paid of in the next 2 to 3 years, I will be entirely debt free. Not to mention having all the baby steps checked off. that's how Ramsey likes it.