Sunday, June 29, 2008

College

I love Suzi Orman- don't get me wrong.

But her advice about kids and college definately comes from a woman with no children.

College costs are NOT what they were when I went to college. The average class (at a junior college on the east coast) is about $500. Tuition for junior college is close to the same as a four year - six years ago. I am in sticker shock!

My son made it through- but my daughter has not. I am afraid that by the time she decides to go the cost will be so high she/we will not be able to afford it.

Agggg!

I love the people who say "the scholarships are all out there- just grab the golden ring!" True, if you are a child who begins college the semester after high school. They disappear soon after. People LOVE giving sholarships tojust graduated freshman and will renew them. A 25 year old freshman- or sophomore- or a transfer student- the money disappears..... They offer loans....with big price tags.

My first years of teaching- if I had taken out loans for college- it would have taken me about 4 years to pay off the $7000. it cost for me to go to four years of public college. The starting teacher's salary is now 3 times what I made 25 years ago. That same college (the cheapest one in my home state) would cost about $40,000. That means that it would take 5.7 years to pay off the debt- dollar for dollar. That is for four years of college- not six. And that is becoming a teacher....

Don't fool yourself that a child can make it through five years of college (the average now for years in college is six years) without help. Sure they can do it- but they will have the debt of a house and will have little chance of getting out from under it easily.

6 comments:

Teresa said...

Janette,
She should qualify for FAFSA I think that is it. It isn't a loan but a grant. They will give her a certain amount per semester, based on her financial situation. After tuition and books the girls had money left over when they qualified. Does the military give any financial assistance to spouses in school?

Janette said...

My daughter looked into a PELL grant (which she qualifies for). If she attends the four year college for her RN (after her associates) she will be about $5,000 short a semester!
Did your girls go on for four year degrees?

Teresa said...

One is still going, she goes part time, has her associates and is now going for her bachelors in business. She is going to a community college which is a magnet for NAU. Her work pays her tuition now!
The other is planning on going back, but nothing solid yet.

RAnn said...

Janette, if your dd wants to be an RN, she should call local hospitals and ask about tuition reimbursment. I don't know how long they plan to be where they are, and its the long way to do it, but she could do an LPN in about a year at a vo-tech school; then get a job and go for the ASN, then later the BSN and most places, hospitals would help with the tuition.

Domini Sumus said...

I started college at 26 years old and was very disheartened by the number of scholarships which are only for teenagers.

After talking with one of my classmates who graduated this year I discovered that I have more than 4 times the college debt now beginning my junior year than he ended up with after 4 years.

Nearly all of that is simply because the system favors teenagers and full time students.

Because of my work and family, I am unable to take 5 courses each semester, although I still take 10 courses a year.

Janette said...

Teresa- she is moving away from RN suddenly- finding that if she is not in one place for 3 years - she cannot transfer (not good for a Marine wife when hubbby only has 2 years to go).
I agree domini- it is pretty unfair.