She owes $581,000 in student loans, and the bill is coming due
Ok...
I've heard of this. I used some Stafford Loans to go through Culinary School and Business School...but it wasn't that much and I didn't have to take reduced payments to get out from under them. I got jobs and paid them off decades ago.
But lately the amounts of money for the type of degrees don't seem to be prudent or logical.
$600,000 for Choiprachter degree... when the job only pays on average 60k per year.
Or $75,000 for an acting degree so you can get bit parts in commercials or plays. (Paying maybe $2,000/yr)
Then there's flying lessons that can go up to $250,000 for tuition alone for a $40,000-$60,000 job as a copilot maybe. (currently sitting on the couch waiting for air travel to resume)
Real Estate Profiteering....some people make money and thousands do not.
There seems to be a huge disconnect between what some of these degrees cost and money borrowed vx what these jobs will produce as income.
But other degrees are more likely to produce... Academic degrees in IT or information management, mathematics, biological chemistry, and writing...even psychiatry.
I'm thinking that there needs to be an overhaul for the program. Maybe student loan forgiveness but maybe not. Maybe a limit for some degrees and maybe not.
What do you think?
Ok...
I've heard of this. I used some Stafford Loans to go through Culinary School and Business School...but it wasn't that much and I didn't have to take reduced payments to get out from under them. I got jobs and paid them off decades ago.
But lately the amounts of money for the type of degrees don't seem to be prudent or logical.
$600,000 for Choiprachter degree... when the job only pays on average 60k per year.
Or $75,000 for an acting degree so you can get bit parts in commercials or plays. (Paying maybe $2,000/yr)
Then there's flying lessons that can go up to $250,000 for tuition alone for a $40,000-$60,000 job as a copilot maybe. (currently sitting on the couch waiting for air travel to resume)
Real Estate Profiteering....some people make money and thousands do not.
There seems to be a huge disconnect between what some of these degrees cost and money borrowed vx what these jobs will produce as income.
But other degrees are more likely to produce... Academic degrees in IT or information management, mathematics, biological chemistry, and writing...even psychiatry.
I'm thinking that there needs to be an overhaul for the program. Maybe student loan forgiveness but maybe not. Maybe a limit for some degrees and maybe not.
What do you think?