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Ankeny, IA
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Fantasy
497th
MX Dad #27
10/22/2010 5:02pm
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.....
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 $100,000+ of debt is a little excessive.
There....I feel better now! Well...not really.....
She may or may not finish up at a university.
The Shop
Your daughter should learn the basic tools in community college or online tutorials. If she's talented and has the dedication, she can take those skills to an art school for one year to hone her skills, make connections, and find a job for a fraction of the cost.
He is very fortunate to be working but nearly all of his classmates are not.
He went to a jc that is affiliated with the high end school and covers the basics of his major. After jc he went to the de$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
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.
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.
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.
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.
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.
Pit Row
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.
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.
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.
But . . .
Sometimes people need to move to where the market is better.
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.
Posts: 1540
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.............
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...
* Yes, people with degrees are finding it tough to find employment, consider how
tough it is to find meaningful employment WITHOUT a degree....
Post a reply to: The things I learned today about paying for College