500K Student Debt (by Beth [WI]) May 20, 2017 1:26 PM
500K Student Debt (by Ken [NY]) May 20, 2017 1:33 PM
500K Student Debt (by AllyM [NJ]) May 20, 2017 2:15 PM
500K Student Debt (by Deanna [TX]) May 20, 2017 2:19 PM
500K Student Debt (by BRAD 20,000 [IN]) May 20, 2017 4:53 PM
500K Student Debt (by JR [ME]) May 20, 2017 6:10 PM
500K Student Debt (by RathdrumGal [ID]) May 20, 2017 6:34 PM
500K Student Debt (by Susan [OH]) May 20, 2017 6:39 PM
500K Student Debt (by cjo'h [CT]) May 20, 2017 9:59 PM
500K Student Debt (by TIM [IN]) May 20, 2017 10:04 PM
500K Student Debt (by cjo'h [CT]) May 20, 2017 10:10 PM
500K Student Debt (by Vee [OH]) May 21, 2017 5:16 AM
500K Student Debt (by BillS [CO]) May 21, 2017 6:21 AM
500K Student Debt (by Barb [MO]) May 21, 2017 6:44 AM
500K Student Debt (by WMH [NC]) May 21, 2017 7:11 AM
500K Student Debt (by AllyM [NJ]) May 21, 2017 8:37 AM
500K Student Debt (by Deanna [TX]) May 21, 2017 9:04 AM
500K Student Debt (by cjo'h [CT]) May 21, 2017 11:25 AM
500K Student Debt (by BRAD 20,000 [IN]) May 21, 2017 1:26 PM
500K Student Debt (by Wilma [PA]) May 21, 2017 3:46 PM
500K Student Debt (by cjo'h [CT]) May 21, 2017 8:47 PM
500K Student Debt (by Beth [WI]) Posted on: May 20, 2017 1:26 PM Message:
I was listening to Dave Ramsey earlier today.
Someone called up. She and her husband had combined 500K in debt. They were both attorneys. She was concerned she would never got out of the debt hole.
Now... take a guess as to what she earns as an attorney.
40K a year as a probate attorney. I was floored. Holy moly that's a pathetic salary for 250K in debt.
I believe she lived in Conn. Dave told her starting salary should be between 60-90K. I think she said she(maybe they) graduated in 2012. So at age 30 ... still 500K in debt.
Sad.
--66.188.xx.xxx |
500K Student Debt (by Ken [NY]) Posted on: May 20, 2017 1:33 PM Message:
A friend of mine told me his step son who is about 28 refinanced his student debt for 30 years,he is a cop so why do you need a degree to be a cop? he will retire before he pays it off --24.25.xxx.xxx |
500K Student Debt (by AllyM [NJ]) Posted on: May 20, 2017 2:15 PM Message:
And a news report just stated that Harvard and other heavily endowed schools have so much money that they could pay every student's tuition for a very long time. And yet, we the taxpayer, are sending these colleges money. I hope you know who gets around to fixing this after he gets the health care and the wall done. --73.33.xxx.xxx |
500K Student Debt (by Deanna [TX]) Posted on: May 20, 2017 2:19 PM Message:
In D/FW, 10 years ago, the average attorney salary was about $60-$70k. But most attorneys actually made around $40-$50k. There were enough attorneys who were pulling in $200k, $300k, and up to skew the average to a number that was higher than what most attorneys could realistically expect to earn. If you have nine attorneys making $50k/year, and one attorney making $500k/year, their average salary is $95k/year... but tell that to those nine. :)
You read headlines about "Hundreds of baby lawyers will earn $180k this year working for these top Dallas law firms!" but that's not the reality for most in the field. Another thing to remember is that attorneys are frequently expected to put in 60, 70, 80 hours' worth of work in a week at a salaried rate. So when you further break things down to what the pay rate is on an hourly basis, it's even more down-to-earth.
If you don't mind putting in your 80 hours/week, and shuffling papers for the first five years of your law career, perhaps those top firms are a good idea. But there are a lot of rural areas where there is more work than there are reliable attorneys. You might not be able to bill as much as you could in a large city, but it gets made up in volume when there are 400 people/lawyer to go around in a big city, versus 5,000 people/lawyer in a rural area. Plus, you often have very little competition for things like elected positions, so as long as you're reasonably competent and good at getting along with the world at large, there are plenty of opportunities for advancement that wouldn't exist in more metropolitan areas.
So, if anyone knows any struggling attorneys swamped with student debt, if they have the courage to relocate to an area that might not have a Starbucks, they might find unexpected opportunities. :) --96.46.xxx.xx |
500K Student Debt (by BRAD 20,000 [IN]) Posted on: May 20, 2017 4:53 PM Message:
Beth,
I think I heard part of that call!
I believe student debt is re-shaping our economy. We know students are moving back in with parents and staying longer. We also have stats telling us that Millenials are waiting longer to buy a home, and MANY are determined to rent forever, never buying a home. They saw their parents lose the family home in the Great Recession and do not want to re-live that pain.
Student loans affects the housing market.
My heart aches for those who got worthless degrees and will be paying for the loan until they are 70 or the students who paid for private colleges for a common degree they could have earned at a community college.
We now include student loans in our screening.
BRAD --68.50.xx.xxx |
500K Student Debt (by JR [ME]) Posted on: May 20, 2017 6:10 PM Message:
Sorry, but anyone who runs up $250 k debt on a $40 k job is an idiot. Not to worry, if she works in government, the Feds will forgive her debt in 10 years, so we taxpayers are the real idiots for electing folks so loose wth our money. Yet another reason we have president Trump. --98.13.xx.x |
500K Student Debt (by RathdrumGal [ID]) Posted on: May 20, 2017 6:34 PM Message:
I can't decide who I have a bigger crush on -- JR from Maine or Robert from California! --98.145.xx.xxx |
500K Student Debt (by Susan [OH]) Posted on: May 20, 2017 6:39 PM Message:
My "ex-and-now-again" tenant who is a veterinarian told us he is $300,000 in student loan debt. He says he recommends that nobody becomes a vet! --76.189.xxx.xxx |
500K Student Debt (by cjo'h [CT]) Posted on: May 20, 2017 9:59 PM Message:
Beth, I don't think it could be here in Connecticut.If that is the case,then she would be better off doing cleaning or being a nannie.Dr.Mike in Maine and Miss Ally ,that poor fool in Pennsylvania Ave., is more to be pitied than laughed at.Every day ,he digs himself in,deeper and deeper....................Charlie............................................... --174.199.xx.xxx |
500K Student Debt (by TIM [IN]) Posted on: May 20, 2017 10:04 PM Message:
I don't get it at times. I went to Purdue, graduated with an associated degree. No college debt. I worked summers, paid the school part. parents paid the housing. Basically 10K/yr. combined. Meanwhile, my buddy from WI was paying $25K/yr for the same education. He paid more because he was out of state.
Student debt is going to be the ball and chain of this younger society. More high school teachers, counselors, principals, etc need to watch Mike Rowe and his "Works" info. He pushes technical jobs that can be learned at local tech schools in 2 yrs and pays good. Think welders, HVAC, computer IT, etc. --67.143.xxx.xx |
500K Student Debt (by cjo'h [CT]) Posted on: May 20, 2017 10:10 PM Message:
Ken,your friends step-son will retire in twenty years,his pension will be more than he's making working every day.When he does retire,he'll be able to go into another profession, or do whatever he wants.Who's better than he?...................Charlie...................not us,that's for sure............................................ --174.199.xx.xxx |
500K Student Debt (by Vee [OH]) Posted on: May 21, 2017 5:16 AM Message:
Training kids starts at home, even if they don't drink coffee they should find another method for the teenagers to save, I amazed that someone makes it past the 5th grade without knowing that you save for your future - at grade 5 it seems like 10 would be the limit, so naturally save for 5 years of disability. --76.188.xxx.xx |
500K Student Debt (by BillS [CO]) Posted on: May 21, 2017 6:21 AM Message:
Met a server at a local restaurant who stated he had $350K in student debt. Something like two master degrees in theater. Any guess who is going to be paying for that education? --73.34.xxx.xx |
500K Student Debt (by Barb [MO]) Posted on: May 21, 2017 6:44 AM Message:
Tim - the cost of tuition has gone up dramatically since. It is impossible to pay tuition on a minimum wage summer job even if you save it all. --66.87.xxx.xx |
500K Student Debt (by WMH [NC]) Posted on: May 21, 2017 7:11 AM Message:
I had a prospective tenant contact me recently, they are moving to the area so he can go to a local university (and it's NOT a great one...) They are taking out student loans to cover all living expenses: rent, food, etc...
Nope. --173.22.xx.xx |
500K Student Debt (by AllyM [NJ]) Posted on: May 21, 2017 8:37 AM Message:
It's like the 200 K mortgages that were offered to the First Time Home Buyers in 2006 that tanked the economy. The colleges know the students will borrow that much so they charge that much. Realtors in 2006 knew that there was 200K out there from the Dems to buy a home even though they had poor credit. Suddenly every boarded up shack around here was appraised at 200K. I know this because I was trying to close my mom's estate in 2006 and the appraisals of the buildings were coming in too high. The appraiser failed to learn that the value has to be from sold properties on the day of the owner's death, which in mom's case was July 2005, just ahead of the problem. Paid a second appraiser to get the values back to normal. DJT will fix it. --73.33.xxx.xxx |
500K Student Debt (by Deanna [TX]) Posted on: May 21, 2017 9:04 AM Message:
The cost of Purdue is now $23k+/year in-state, and out-of-state is $41k. That would have been pretty steep for a public university 20 years ago... but is in line with current costs. These days, you can't even get a year of community college at the prices you paid for a year at a four-year state school between 1995-2000. Nowadays, you can't even get a year at a state school for the price I paid for a year at a private university in that time period...
I need to get my kids fluent enough in Spanish to send them down to the University of Puerto Rico. You can get a year for under $2k if you're in-state, and a year for under $4k if you're out-of-state. Hopefully, by then, they'll have worked out any bankruptcy issues by then... --96.46.xxx.xx |
500K Student Debt (by cjo'h [CT]) Posted on: May 21, 2017 11:25 AM Message:
Miss Ally, its a beautiful day in May,It's time to come out of your reverie?Please for your own sake. " Some folks will say that I'm a dreamer,and I've no doubt there's truth in what they say".............................Charlie................. Miss Ally, come back to reality..................................... --174.199.xx.x |
500K Student Debt (by BRAD 20,000 [IN]) Posted on: May 21, 2017 1:26 PM Message:
A friend is in medical school in Dominica, a tiny island south eat of Dominican Republic.
The island had no economy so they started a college. What do you need for a college? Classrooms (empty rooms and chairs), American professors (bring them for a Carribean island get a way semester, free room and board if you teach), and students (low tuition and lots of beach time!)
Instant economy.
His tuition is only a few thousand per semester, and since they are using American professors and curriculum his medical degree will be honored in de U.S. mahn.
A relative so-signed for their child and lived with the fear that if something happened to the child or the child did not pay, THEY would be on the hook for a LARGE sum.
BRAD --68.50.xx.xxx |
500K Student Debt (by Wilma [PA]) Posted on: May 21, 2017 3:46 PM Message:
The nicest Mother's Day present that I got last week was from my eldest, who has been gainfully employed since she graduated five plus years ago. She said that she has to keep quiet in her office when her fellow employees start complaining about living paycheck to paycheck as they pay off their student loans - just lets them vent. But she is thinking inside about how grateful she is that we planned, saved, and preached hard work and grades so that she got some scholarship money to help with the expenses. AND that we made her work jobs to save, in order to pay for books and sundry items.
Still waiting for number two to some to that realization - but she's still in school and does not see the friends who are spending some of their loan money on electronics and trips hitting the wall yet - which they will, after graduation. --71.175.xxx.xxx |
500K Student Debt (by cjo'h [CT]) Posted on: May 21, 2017 8:47 PM Message:
Wilma,you are to be congratulated,your next one will do OK too.Our youngest went to Northeastern,a five year work and study.Work three months,then back in classroom three months.She was also in an International study program.three months in Queens in Belfast,three months in Trinity in Dublin, While in Trinity,While there she was appointed to accompany the Irish Delegation to Brussels to the European Economic Commission.While in Ireland,some company she had worked for in Boston got her # in Ireland to tell her she was hired full time, when she got back from there,even thought she hadn't even graduated yet!If more colleges had similar programs,things would be much better for the students.........................Charlie........................her only regret was ,she hadn't taken French, they stopped over in Paris for a week on their return to Ireland.................................. --174.199.xx.x |
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