Student Loan Debt?

[paulsharvey]

Those numbers are insane for in state tuition. I am complaining about University of Norrth Florida, and it's approx $19k/Year (not semester), for tuition, housing, and min meal plan; not counting Lab fees, books, other hidden fees. That's still about $80k for a bachelor's. Luckily, my son gas some college classes already done in HS, and he thinks he can graduate in 3.5 years (maybe as a little as 3, if he takes full load each summer).

When I look online, there's a lot of talk, about if the available normal student loans aren't enough, it's no big deal, just get what they call a Plus loan. That's worse, that's a loan the parents take out; we aren't going to do that. We also Aren't going to be loading $500/month on a debt card for fun/partying, like I hear some people doing. He's going to have to work atleast some to do his Fun.

Once he gets BS and his BSN from that, he has to work min 2 years before applying doe the advanced program, and at that point, he can cash flow his own way.

 

[hiddentacocatneddih]

Tennessee has free college programs for residents. Iirc they are mostly aimed at traded, electricians/welders.

 

[jyoutz]

Tennessee has free college programs for residents. Iirc they are mostly aimed at traded, electricians/welders.

My state funds free college tuition at any state university or college for in state HS graduates for whatever they study, including trades. They have to maintain a certain GPA. All funded through lottery money.

 

[hiddentacocatneddih]

That's a good deal.

Theres a lot of programs out there that don't get used

 

[paulsharvey]

One thing that we found out; look at your own Credit Union, Power Co-Op, and similar; they often will have a few scholarships available for members, which means they are competing against maybe 100 students for 5 scholarships vs some of these that could be people anywhere. Sure, your not going to get all of them you apply for, but if you even get a couple of the $500-1000/semester ones, they help.

 

[kenmbz]

Lots of schools and groups offer scholarships.
All the ones we see so far are about $1000, so it would take a lot of paper to pay for much.
Still researching ...........

 

[Hay Dude]

Both our kids went to Mizzou. In state all in cost of about $25000 each per year. Neither received athletic money but both got some academic money.

Both graduated in 5 years. Seems to be the norm these days.

In total, it cost us (they participated in the cost) roughly $150000.

They both enjoyed their experiences and made (hopefully) lifelong friends.

Both are gainfully employed in jobs they enjoy.

My son got a GREAT job, a beautiful future wife, and some great friends and collegiate recognition in athletics. It had its’ ups & downs, but we are grateful it all worked out. The University he went to didn’t do it, HE did it.
My daughter had a great experience, but she still has some time until graduation. Looks a little more cloudy on the employment front and had a career ending injury in the beginning of her senior year.

 

[milkman636]

My state funds free college tuition at any state university or college for in state HS graduates for whatever they study, including trades. They have to maintain a certain GPA. All funded through lottery money.

I live in Michigan, which is a high tax state that provides no benefit like that. I’ve learned that if we lived one state south in Indiana we could have free tuition, and lower taxes also. And Tennessee is where my wife and thought we’d like to retire to.

With more kids currently in high school and middle school, I’m thinking I should have considered moving towards the south sooner in my life……

 

[MossRoad]

Well ya gotta remember that they knew Moss was one of them high-rolling moderators on a tractor forum. Had to keep the paparazzi at bay ya know.

Nah. Back then I was a lowly line technician at the airport. Pretty well kept under the radar. Not at all like today's fame and fortune.

 

[MossRoad]

...

The scariest thing I’ve learned in this process is that a bachelor’s degree at most schools will cost about $200,000 for tuition, fees, housing, and food if you don’t get any scholarships or grants. I could not imagine agreeing to pay that amount, especially in loans.

Whoa! That's outrageous. Purdue told us to expect about $88K for 4 years about 13 years ago. Today they say about $91K. We got out much less than that total cost, before scholarships. More like around $72K before scholarships. Both of our kids chose the least expensive dorm options, lower meal plans, and moved into apartments for their junior and senior years. That's in-state.

Out of state was more than double that.

Indiana University is saying around $109K in-state.

Michigan State is saying average of $30K per year before aid, and $10K average with aid.

Michigan is about $3K more before aid and $7K more after aid.

Paying for out of state tuition for us was not an option. We told the kids if they wanted to go out of state, we'd give them the same amount we planned for had they gone in-state, and they'd have to take out loans for the rest.

I've mentioned before, oldest was set on Wisconsin. Wisconsin financial planners asked her why? Told her the same program was available and several Indiana schools for less than half the cost. If she was dead set on a Wisconsin degree, to got to Indiana schools for 3 years and then transfer to Wisconsin for last year. She laid it all out on paper, and the kid finally got it. Wife and I wanted to hug that lady!