The Education Scam or How to go into debt and still flip burgers ...

[Duncan]

The College Scam - John Stossel - Townhall Conservative

http://www.youtube.com/watch?v=_9x9TES0MJM

 

[Rob377]

The Student Loans Scheme: a Gateway Drug to Debt Slavery

 

[Hotdoger]

Credit Card Debt Gets Trumped By Student Loans

According to a recent article in The Wall Street Journal, student loan debt has now surpassed credit card debt by over $3 billion.

Solutions? Start with the book DebtFreeU:

Amazon.com: Debt-Free U: How I Paid for an Outstanding College Education Without Loans, Scholarships, or Mooching off My Parents: Zac Bissonnette, Andrew Tobias: Books

Then read some of Dave Ramsey's stuff:

Go To College Dave

College Is Expensive. What's Your Plan? - daveramsey.com

Getting Your Degree On Plan B - daveramsey.com

 

[IndySSD]

The Student Loans Scheme: a Gateway Drug to Debt Slavery

Apparently the socialist rep system we have here requires me to "spread it around some more"....

 

[Paco Bedejo]

I like the part where public schools are now withholding critical education which should be taught by age 13 so that colleges can charge thousands for it after age 18. Isn't it fun when government monopolies collude to rape us?!

Edit: Fixed per Boiled Owl's question.

 

[Boiled Owl]

I like the part where public schools are now withholding critical education which should be taught by age 13 so that colleges can charge thousands for it after age 18. Isn't it fun when government monopolies collude to rape us?!

And this is in purple, why?

 

[PistolBob]

One of my kids got his BA in business while in the USMC for 8 years. I bought the books, the Marines paid for the rest. No student loans. He's out now and the USMC is currently paying for his MBA classes as one of his benefits for serving. Take advantage of it.

Another kid got an 80% paid for ride because of his community service while in High School and because he earned the rank of Eagle in scouting. His Eagle project is what really helped him get the scholarship. Minimal student loans (like less than $5K owed when he was done. He also worked while he went.

 

[ATOMonkey]

I just made sure that my career would allow me to pay off my loans.

In 2002 engineers were starting at $50k. Even in a down market, people with actual skills who are hard to replace are still in demand.

My sister got a degree in animal something, starting salary $0. You get the privelege to cleaning animal **** for free for the opportunity of one day making about $30k a year cleaning animal ****.

Who am I to stand in the way of her dream though?

 

[ATOMonkey]

I also consolidated my loans at about 3.5% apr.

 

[Paco Bedejo]

And this is in purple, why?

Because of the words "like" & "fun"...suppose I should have only made those words purple

 

[Duncan]

America's biggest teacher and principal cheating scandal unfolds in Atlanta - CSMonitor.com

 

[eldirector]

I paid cash for college. Took a little longer (6 years), but I graduated with no debt.

My sister took out loans. She's STILL paying. Oops..... Hey, at least she got to go to a fancy school and join a sorority. Me: IUPUI, with a couple of part-time jobs evenings and weekends.

There are TONS of scams (or at least shady business practices) out there for college loans. Most kids and their parents are so eager to go to a fancy school, they don't run the numbers. Top it off with ridiculous tuition at some of these schools, and here we are!

 

[jdhaines]

I managed to receive the Lilly Endowment so I didn't have to pay, but my wife and I started two 529 plans in Utah and are saving a little each week to pay for school for our kids (that aren't born or even conceived yet...still practicing). The benefits of a 529 plan are great. It's worth starting one even if you don't have kids yet or are unsure if you will. They can always be transferred. Check the rules in the state you choose. When we started Utah's plan was the best. Then at the kid's birthday parties instead of everyone buying them junk they don't need, they can paypal money into the kid's 529 plan for college. You can even set it up so when family members buy groceries, or items from different stores a percent goes into the 529 plan. Amazon is a member, Target, and many others. It's a damn slick system. I heard Indiana revamped their 529 so it may be better.

 

[IndySSD]

I just made sure that my career would allow me to pay off my loans.

In 2002 engineers were starting at $50k. Even in a down market, people with actual skills who are hard to replace are still in demand.

My sister got a degree in animal something, starting salary $0. You get the privelege to cleaning animal **** for free for the opportunity of one day making about $30k a year cleaning animal ****.

Who am I to stand in the way of her dream though?

This ^^ If you're going to get a degree, get one in a "Skill". Like teaching, Engineering, medical, dental, accounting (CPA bound), Legal, etc... Don't go to college just because... have a purpose. If you don't have a purpose, maybe the military can help give you a purpose, and will help you pay for your choice after your purpose is made clear!

 

[PistolBob]

If your dream in life is to become a social worker, or government employee, don't waste your time in college unless someone else is paying for it. OJT is all you need.

 

[jedi]

Not to mention college is NOT for everyone. There are many sucessful people who have zero college "experience".

 

[Rob377]

This ^^ If you're going to get a degree, get one in a "Skill". Like teaching, Engineering, medical, dental, accounting (CPA bound), Legal, etc... Don't go to college just because... have a purpose. If you don't have a purpose, maybe the military can help give you a purpose, and will help you pay for your choice after your purpose is made clear!

This.

And don't believe a damned thing University people tell you about the value of this degree or that. They will LIE. For example, law schools will hire unemployed grads on for barely minimum wage temporary "fellowships" just so they can say that "99% of our grads are employed right after graduation!" They will only survey grads that got high paying jobs so they can LIE and tell you "Our grads averaged 100k/year as starting salaries!!"

I'm sure the various undergrad programs do the same to some extent or another.

Don't buy their BS. College/University Admins make Bernie Madoff look like a freakin' saint.

They do this to paint a false picture of how much the degree they're selling is worth, so that students will be willing to take on that debt thinking that their chosen profession will allow them to pay it off. Because that federally subsidized loan money bubble/ gravy train they're riding on depends on it.

If they were honest and said "hey, this gender studies/film/sociology degree is useless and won't help you get a better job, and it's going to cost you 20+K, plus interest" Nobody would take it.

 

[ATOMonkey]

I managed to receive the Lilly Endowment so I didn't have to pay, but my wife and I started two 529 plans in Utah and are saving a little each week to pay for school for our kids (that aren't born or even conceived yet...still practicing). The benefits of a 529 plan are great. It's worth starting one even if you don't have kids yet or are unsure if you will. They can always be transferred. Check the rules in the state you choose. When we started Utah's plan was the best. Then at the kid's birthday parties instead of everyone buying them junk they don't need, they can paypal money into the kid's 529 plan for college. You can even set it up so when family members buy groceries, or items from different stores a percent goes into the 529 plan. Amazon is a member, Target, and many others. It's a damn slick system. I heard Indiana revamped their 529 so it may be better.

Indiana will match your 529 contribution to a certain extent through a tax credit. I think it's a $1,000 credit for a $5,000 contribution.

 

[jdhaines]

Indiana will match your 529 contribution to a certain extent through a tax credit. I think it's a $1,000 credit for a $5,000 contribution.

Interesting, I'll look into this.

 

[Duncan]

Sent to me by another INGO member ... thanks

http://www.youtube.com/watch?v=QxqWDsbjAzQ