Somewhere out there....ought to be a physics PhD guy who can build a formula that says....x-degree at x-college with x-amount borrowed....gets you typically a x-job, which pays x-amount per year. Then you figure 7-percent of that toward a college loan for 10 years, and that's all that you will get.
My humble guess, if you did pursue a fine arts degree (unless your last name is Obama or Clinton).....you'd be cut off at borrowing no more than $6,000 a year.
Our problem is just not wanting to put a rocket-scientist to this task and admitting that college is kinda like deciding between a Kia Rio ($17k) or a Range Rover ($163k).
Adding to this....no one has ever challenged public colleges to explain their operations cost, and why Michigan State University costs $14,500 per year or why Portland State University is $10,500 per year. The same folks also don't have great explanations why out-of-state folks typically have to pay 2.5 times the rate, and having kids cross state lines for their goals.....makes the whole thing into a pretty big mess.
There ought to be a general rule on any loan of college money....you only attend your home-state schools.....or we deny you the loan.
Eugene, Oregon.
ReplyDeleteMy acquaintance -- 'Lindsey' -- completed her four-year degree in Gainesville Florida by working grueling hours as a bartender.
No debt.
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She moved to Eugene for the Master's program in Counseling.
Because she worked at a faculty extension, her tuition was zero and they paid for her books.
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She often mentioned the members of her study-groups going to school without working to support their housing and entertainment.
I pointed out they are paying on their loans for the next couple decades, while she was and continues to be without debt.
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An aside:
'Lindsey' came to the Oregon university as a patriot and all American.
Part-way through, she turned into a harsh humorless stark-raving socialist.
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Accordingly, we parted ways.