So Much For Going to College In The US.....Without going in debt.

And this wasn't true in 1975?

And how many University graduates does it take to design an ipod generation premium? 100? 1,000? 10,000?

American designed goods have been manufactured in Asia for decades. American designed goods used to be manufactured by Americans as well.

The idea of Americans designing things is not new.

You are talking about the increased demand from artificial access through credit and subsidy. That, and general inflation caused by the increases in the monetary supply.

Education was just as desirable in 1975 as it is now. The difference is the ease at which everyone has access when price is no object.

 

In the next recession white collar is going to get hit hard.

 

What country are you in? Stafford loans are interest and payment free until 6 months after you graduate. They are not dependent on income level... The pell grant and other grants however are based on income level. So if you can declare yourself financially independent from your parents, or turn 24, you are entitled to this assistance.

Do a little more research... You are not f'd as you say.

I will agree that it is completely retarded that our government is wasting $40k per DAY on secret service protection for an unknown freshmen congressmen. That money could send an awful lot of kids to college for several years.

 

Another way to get a degree is to go part time 9 credits a semester at a State University. When you are down to the last two years, you take out the loans and bang out the degree.

Some employers even offer titution assistance.

 

A subsidized loan is awarded on the basis of financial need. If you're eligible for a subsidized loan, the government will pay (subsidize) the interest on your loan while you're in school, for the first six months after you leave school

Gov Student Aid Website

There are unsubsidized stafford loans too, and interest rates on these unsubsidized loans are going through the roof. Since the rate on subsidized loans is cut to 3.4% and lenders aren't given as much protection against defaults, a lot of lenders are getting out of the subsidized loans business and exclusively offering private ones. Despite what the Fed is doing, these interest rates are going up because there aren't a lot of investors looking to buy risky loan assets right now.

I was thinking about it and it probably wouldn't have been worthwhile if the state of Florida wasn't paying for 75% of it through the bright futures scholarship.

 

The thing is that my family's EFC will be higher than my tuition. Say tuition is $6k per year and my family's EFC is $7k.

That means that me or my family will have to pay $7k for my college before student loans can kick in. Since I'm going to a cheap school and my parents make too much to get stafford loans, I'll have to either pay cash for college, or borrow at killer interest rates to get a private loan.

 

subprime affecting student loans

http://money.cnn.com/2008/02/14/news/companies/privatestudentloans/?postversion=2008021512

 

Jeez, is CNN copying my stories? LOL I posted this the day before that article:

Credit Crunch Affecting Student Loan Rates

 

Which is what the FED was afarid of

 

The difference between now and 1975 is that in 1975 you could drop out of High school at 17/18 and go to work in a factory for GM, Chrysler or Ford and make a very good living, you could probably make more then what a college graduate would make and lot of my family members did that and they lived a very comfortable middle class life, today their children can't do that because the jobs aren't available they either been outsourced or replaced by technology which is forcing people to go to school which is raising the cost of schooling.

Also what happened in the last 30 years is that wages of blue collar works have stayed the same while wages of white collar works have increased greatly creating that gap between what a high school graduate and collage graduate earn further increasing the demand for higher education. Which is why college get record amounts of people applying to their colleges that last couple years.

 

A big question is when do the white collar jobs start to dry up. The US has lost 3 million manufacturing jobs over the last years.

Another big issue is the US is throwing money down the tubes with college grants. 50% of the students don't graduate.

 

Education in India is not that expensive, so my parents don't have to suffer all that much.
Education in the US is extremely over priced and the amount of debt middle class people go into is HUGE!

 

How many rupees does it cost to attend college a year and are the classes in English?

Maybe Telsa would like to study in India if the prices are good.

 

50% don't graduate, but how would you pick who would get the grants or not.

 

Simple. People that don't graduate have to pay it back.

 

Agreed!!!!

 

Abraham Lincoln was self taught. Andrew Johnson never attended a day in school and taught himself to read. He was the only ex-president elected to the senate.