The things I learned today about paying for College

MX Dad #27
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Ankeny, IA US
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10/22/2010 5:02pm Edited Date/Time 1/24/2012 5:21pm
We took my Daughter for a college visit today (CVA in St. Paul MN). $35,750 per year.
We filled out her FAFSA, financial aid application and found out we qualified for a whopping $1,065 leaving us just $34,685 short. We planned on contributing @ $10,000 a year to her education (and I have another one in 4 years). Planning on a 3% increase per year ($36,822.50, $37,927.18, $39,065.00) $149,564.68 - $40,000 = $109,564.68!
We were told she could expect @$30,000 a year to start as a Graphic Artist.
So here is what we learned about getting financial help:
* If you work hard at your jobs and get ahead, Strike one
* If you save any money, Strike two
* If you have any assets, Strike three
* If you are Married, Strike four
* If you are employeed, Strike five
* If you don't have other children in College, Strike six
I'm really not looking for something for nothing, but I think to saddle an 18 year old with $100,000+ of debt is a little excessive.
There....I feel better now! Well...not really.....
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motogeezer
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10/22/2010 5:14pm
That's why my daughter is going to a community college.

She may or may not finish up at a university.
Void Main
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10/22/2010 5:16pm
My daughter just graduated from college last year and my boy is a junior in college. Believe me, I understand.
newmann
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10/22/2010 5:29pm
Hell, our youngest was in private school from 4th-8th grade and those fuckers want to see your tax returns to determine how much to charge you. You know they are up to no good when you ask them how much, and they can' give you an answer. So much for putting in the extra effort to be able to afford such things ..................Angry
Kinetic1
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10/22/2010 5:58pm
Sorry for your loss.....of retirement.

The Shop

noob
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10/22/2010 5:59pm Edited Date/Time 10/22/2010 6:02pm
MX Dad #27 wrote:
We took my Daughter for a college visit today (CVA in St. Paul MN). $35,750 per year. We filled out her FAFSA, financial aid application and...
We took my Daughter for a college visit today (CVA in St. Paul MN). $35,750 per year.
We filled out her FAFSA, financial aid application and found out we qualified for a whopping $1,065 leaving us just $34,685 short. We planned on contributing @ $10,000 a year to her education (and I have another one in 4 years). Planning on a 3% increase per year ($36,822.50, $37,927.18, $39,065.00) $149,564.68 - $40,000 = $109,564.68!
We were told she could expect @$30,000 a year to start as a Graphic Artist.
So here is what we learned about getting financial help:
* If you work hard at your jobs and get ahead, Strike one
* If you save any money, Strike two
* If you have any assets, Strike three
* If you are Married, Strike four
* If you are employeed, Strike five
* If you don't have other children in College, Strike six
I'm really not looking for something for nothing, but I think to saddle an 18 year old with $100,000+ of debt is a little excessive.
There....I feel better now! Well...not really.....
As someone who attended an elite art school, I can tell you that 80-95% of art students suck ass and are unemployable. The classes are generally taught by artists who couldn't find gainful employment in their field.

Your daughter should learn the basic tools in community college or online tutorials. If she's talented and has the dedication, she can take those skills to an art school for one year to hone her skills, make connections, and find a job for a fraction of the cost.
Racer92
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Central, TX US
10/22/2010 6:04pm
Oh man I remember them FAFSA days, I feel your pain. I did my 4.5 years as a college parent.
tunedlength
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Ontario, CA US
10/22/2010 6:48pm
My oldest son went to a well regarded de$ign $chool for a degree in transportation design.
He is very fortunate to be working but nearly all of his classmates are not.
He went to a jc that is affiliated with the high end school and covers the basics of his major. After jc he went to the de$ign $chool for three year$.

Another option-
Go to the jc.
But then go to work at a Graphic design studio in any capacity. gofer,coffee maker etc..
Learn all you can on the job and claw your way up the ladder.
Most people who pursue an art major should be naturally gifted and if they cant make it on their natural talent and fortitude then they probably would not make it with the degree.

Good Luck
Blake
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CA US
10/22/2010 6:50pm
Use the money to start your own gig.

The people that make real money dont work for other people.

If you work for someone else, you're only worth what they are willing to pay you, or you can, and will be replaced, and that is Minimum wage.

Blake
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10/22/2010 6:52pm
Walk in next week and speak No habla engish.

They will set you up with all kinds of government grants, programs, and all for free to you.

The reason why is because the school gets paid. They dont find the money, they dont have a student.
raynmann
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Montgomery, TX US
10/22/2010 6:55pm
I'm paying for my son at U.T. single parent, I would NOT give them my tax returns, it costs a small fortune, but I'm gonna do it if it kills me ( 2 jobs now ). I made a promise, so did he.
tunedlength
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10/22/2010 7:00pm
raynmann wrote:
I'm paying for my son at U.T. single parent, I would NOT give them my tax returns, it costs a small fortune, but I'm gonna do...
I'm paying for my son at U.T. single parent, I would NOT give them my tax returns, it costs a small fortune, but I'm gonna do it if it kills me ( 2 jobs now ). I made a promise, so did he.
Way to go Dad!
Racer92
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10/22/2010 7:15pm Edited Date/Time 10/22/2010 7:15pm
raynmann wrote:
I'm paying for my son at U.T. single parent, I would NOT give them my tax returns, it costs a small fortune, but I'm gonna do...
I'm paying for my son at U.T. single parent, I would NOT give them my tax returns, it costs a small fortune, but I'm gonna do it if it kills me ( 2 jobs now ). I made a promise, so did he.
Kudos. I understand your sentiment completely. Me and my boy are very tight.
WhKnuckle
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TX US
10/23/2010 3:23am
MX Dad #27 wrote:
We took my Daughter for a college visit today (CVA in St. Paul MN). $35,750 per year. We filled out her FAFSA, financial aid application and...
We took my Daughter for a college visit today (CVA in St. Paul MN). $35,750 per year.
We filled out her FAFSA, financial aid application and found out we qualified for a whopping $1,065 leaving us just $34,685 short. We planned on contributing @ $10,000 a year to her education (and I have another one in 4 years). Planning on a 3% increase per year ($36,822.50, $37,927.18, $39,065.00) $149,564.68 - $40,000 = $109,564.68!
We were told she could expect @$30,000 a year to start as a Graphic Artist.
So here is what we learned about getting financial help:
* If you work hard at your jobs and get ahead, Strike one
* If you save any money, Strike two
* If you have any assets, Strike three
* If you are Married, Strike four
* If you are employeed, Strike five
* If you don't have other children in College, Strike six
I'm really not looking for something for nothing, but I think to saddle an 18 year old with $100,000+ of debt is a little excessive.
There....I feel better now! Well...not really.....
Normally, public universities are about $22K/y for resident students, up to $40K for non-residents. Our son is considering quite a few different places, and if he decides on a school outside Texas (likely Oregon or Maine), we'll probably move there to save the $18K/y difference. We don't want to retire here in Houston anyway, and four years at $18K is a big savings. Might as well go ahead and move to a place where we want to retire.

Everyone talks about how much financial aid you can get, and I know there's some out there, but it seems to mostly be need-based and we're not going to qualify. I personally don't have a problem with that because I think kids from poor families should get the most help, but with college costs being so high, EVERYONE with incomes < $500K/y needs some help paying for it.
Knobbyjake
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West Middlesex, PA US
10/23/2010 4:39am
We have friends that actually got a divorce so the mother could claim financial hardship and send the daughter to college for next to nothing. They are still very much married other than the divorce papers. It helped them so much that my wife and I have talked about doing it on occasion. It really is sad how deep you can get in over college.
88sdad
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Poeville, NV US
10/23/2010 7:17am
I was a single parent and had been worked for the state of Nevada for over 10 years and according to the government, I was living in poverty. I saved about 50% with my daughter at UNR and my boys went to CC's and I payed very little.
cyaxares
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Columbia, MD US
10/23/2010 8:20am
Just think, many countries subsidize education because they know it is more important to have an educated populace that does not start their young adult life over $100k in debt.

But, the US loves the free market and would rather have their young start their lives with an immense debt or on the flip side, have the parents pay the kids education which wipes out their retirement.
Rooster
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Edmonton CA
10/23/2010 8:48am
For most fields I would say stay in school and get an education and a degree. For art school, I'd say OTJ training is best by far.

I've been a commercial artist/designer my whole career and started working pretty menial jobs to get my foot in the door when I was young. If you have talent you move up the ladder pretty quick though. You could be earning what you're spending on college by the end of your third year. You'll never make any money in this business unless you work for yourself though.

So in addition to the 100K in debt she'll be saddled with she'll be tapping mom and dad up for the loan to start up on her own. Expect that to be another 50-100K touch or more.
10/23/2010 12:26pm
I filled out those FAFSA forms twice for my oldest child. It's good if you need a student loan but the best advise that I didn't follow was that once your children are of college age then show you have no money. Instead I busted my ass and set aside approx. $20,000 each for my three children. Man, that sounds like a lot of money until you start visiting colleges. Just did the open house at FIT in NYC. That's $18,000 a semester. Free ride if I had played it right.
10/23/2010 1:33pm
I'm just finishing up my undergrad at Colorado State.

Parents fit the bill for that so I decided to make it easy on them and finish in 3.5 years.

Going to law school next fall, that'll be on my dime.

One benefit that I'll see from Obama care is the included reform to the PEL grant system which should save me a lot of money and hassle down the road.
Frogman
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10/25/2010 10:50am
cyaxares wrote:
Just think, many countries subsidize education because they know it is more important to have an educated populace that does not start their young adult life...
Just think, many countries subsidize education because they know it is more important to have an educated populace that does not start their young adult life over $100k in debt.

But, the US loves the free market and would rather have their young start their lives with an immense debt or on the flip side, have the parents pay the kids education which wipes out their retirement.
Imagine that...a place where you pay your own way instead of stealing it out of everyone else's pocket...novel idea.

Sandberm
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Pasco, WA US
10/25/2010 11:06am
I cant imagine 100 grand in college debt. Just cant.

At that price, your kid and you better be damn sure that is what they want to do for the rest of there life.

My kid wants to go in the military and later be a policemen. Thats okee dokee with me.
Frogman
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10/25/2010 11:36am
The higher ed scam is almost as good as the social security scam and the house flipping scam.

A lot of college educated people are going to find themselves underemployed or not employed at all. It's a good thing the liberals want so bad to automatically forgive student loans after 20 years...can always count on them for a solid financial plan.
cyaxares
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10/25/2010 11:38am
Frogman wrote:
The higher ed scam is almost as good as the social security scam and the house flipping scam. A lot of college educated people are going...
The higher ed scam is almost as good as the social security scam and the house flipping scam.

A lot of college educated people are going to find themselves underemployed or not employed at all. It's a good thing the liberals want so bad to automatically forgive student loans after 20 years...can always count on them for a solid financial plan.
The problem is, if you don't get a college degree, you are not going to get a decent job in most fields.
FreshTopEnd
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10/25/2010 3:41pm
I feel your pain, but at least have one who got out in three years last June, so I'm not double teamed now.

But . . .

dougie
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10/25/2010 4:10pm
Did any of you catch 60 minutes last night? Did you see the rooms full of people with college degrees all the way up the ladder to PHD's and all of them are at their 99th and last week of unemployment. This was in Silicon Valley.
cyaxares
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10/25/2010 4:19pm Edited Date/Time 10/25/2010 4:20pm
dougie wrote:
Did any of you catch 60 minutes last night? Did you see the rooms full of people with college degrees all the way up the ladder...
Did any of you catch 60 minutes last night? Did you see the rooms full of people with college degrees all the way up the ladder to PHD's and all of them are at their 99th and last week of unemployment. This was in Silicon Valley.
I didn't see the show but I can believe it. I know that if you are in IT in the Silicon Valley and are not a bad ass you are going to have trouble finding a good job.



Sometimes people need to move to where the market is better.
PD441
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10/25/2010 5:19pm
I'm a "self-taught" graphic artist. I looked at getting a degree many years ago but decided to forego that and put my nose to the grindstone in the field. I would show my portfolio to anyone who would look at it. Eventually, some of the right people saw it and I've been faking it for about 22 years now.

I've had people with graphic arts degrees tell me they don't have a clue how to do some of the things I learned on my own. I'm grateful I didn't get saddled with a ton of education debt. I know of an established, well-respected company whose owner WILL NOT hire an artist out of college. He's been there, done that and has learned they have so much attitude with their degree that they try to reinvent the wheel within the company.

In my opinion, an artist of any kind really can't be "taught" by someone without becoming somewhat of a clone of that teacher. If the teacher is just in it for a paycheck, the student won't come away with much more than maybe a little technique.
MX Dad #27
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10/31/2010 7:57am Edited Date/Time 10/31/2010 7:59am
Frogman

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Joined: 10/14/2006

Location:
Washington, DC

10/25/2010 10:50 AM


cyaxares wrote: Just think, many countries subsidize education because they know it is more important to have an educated populace that does not start their young adult life over $100k in debt.

But, the US loves the free market and would rather have their young start their lives with an immense debt or on the flip side, have the parents pay the kids education which wipes out their retirement.

cyaxares wrote: Just think, many countries subsidize education because they know it is more important to have an educated populace that does not start their young adult life over $100k in debt.

But, the US loves the free market and would rather have their young start their lives with an immense debt or on the flip side, have the parents pay the kids education which wipes out their retirement.
Frogman wrote: Imagine that...a place where you pay your own way instead of stealing it out of everyone else's pocket...novel idea.


Let me get this straight, you are comparing student financial aid to stealing? Dear old Dad always said you better be sure before you call me a thief or a liar.............

Rupert X
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11/1/2010 11:10am

Pay for school. Yes, it's tough.

Two of my kids have graduated already and have good jobs (school-teacher and

IT guy) - one left in university probably going for his masters in health and a teaching

degree.

I'm bragging 'cause I'm proud of them and know the entire family made many

sacrifices so that they could attend.

No regrets.

Wish I could have gone, still will probably go back. Hell I might enroll soon...
Rupert X
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11/1/2010 11:11am



* Yes, people with degrees are finding it tough to find employment, consider how

tough it is to find meaningful employment WITHOUT a degree....

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