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  1. #11
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    I am going to Pikes Peak Community College full time and have paid a total of $1100 for my first year of college without help from FAFSA but with a $2000 academic scholarship. And the education at the school is great. Not going to go into student debt any time soon as I don't see any point in doing so.

  2. #12
    Senior Member Beargryllz's Avatar
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    Healthcare or education

    Which bubble will burst first? Neither one is really sustainable

  3. #13
    reborn PeaceBaby's Avatar
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    I do think it's a crisis, both nationally and on a personal level. Here in Canada too. Like @cafe says, our generation was sold on the concept of higher education, it was supposed to be the ticket to a better life.

    I went back to school for computer programming when the kids were in school full-time, took a student line of credit for $10000 to do it and it took us SO LONG to pay that off - it was an extra burden on top of all of the other expenses of raising a family. It took a back-seat to other more pressing obligations, and we barely made a dent in it for the first few years after I graduated. It sat there like a weight on my chest.

    Based on that experience, I actively discouraged our daughter from taking any debt whatsoever for her education. She's on track to graduate from her 4 yr Anthropology program totally debt free, financed by our savings (we started putting away $30 a month into an RESP for her school when she was born, that's all we could afford at the time), additional funds from us, her part-time work and summer employment savings and by living on a tight budget. I'm so grateful that we've been able to make it work this way. Partly though, our son not pursuing university at this time is what made it more feasible - with him in the mix, we would have been very cash-strapped indeed. I would like him to go back to school though - once he decides what interests him, we still have some savings tucked away.

    I think at this point she realizes the value of scrimping over the past few years, and how much she has learned along the way for the experience. She sees the kind of debt her friends are graduating with and she's realizing that starting off your adult life with an elephant on your back is just total stress. At first this wasn't the case though, as her friends with loans always seemed to have more "disposable" income ... I'm sure it was hard to feel like the other kids had an easier go, but the payback for her comes now. No debt.

    I don't know how all these kids are going to manage paying their debts down on jobs that just don't provide higher compensation. Some of them graduate and make the same as my son, who just took a certificate program post-high-school. You have to work where you find work. For a lot of them, it's in the retail service industry.

    I foresee a lot of challenges, a lot of stress, a lot of delayed life-building trying to get those debts down ...
    "Remember always that you not only have the right to be an individual, you have an obligation to be one."
    Eleanor Roosevelt


    "When people see some things as beautiful,
    other things become ugly.
    When people see some things as good,
    other things become bad."
    Lao Tzu, Tao Te Ching

  4. #14
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    Here in the UK we have distance learning degrees (e.g. Open University) where you do your degree in your spare time, attend night school and occasional trips to their centre (which would happen on the weekends.) The costs are very reasonable so little or no student debt which is combined with a full time job to raise finances but also accumulate experience (which is another big problem facing graduates here.) I myself do not have a degree as I have no clue what to do with my life but if something clicks then I would pursue this option.

    I can imagine the bubble will burst, an entire generation will be ruined and end up on manufacturing lines and working menial roles in factories like their forefathers. The universities will close save a few and those who are in a position to go to university/college will likely follow the previous paragraph.

  5. #15
    Senior Member KDude's Avatar
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    Quote Originally Posted by Standuble View Post
    I can imagine the bubble will burst, an entire generation will be ruined and end up on manufacturing lines and working menial roles in factories like their forefathers. The universities will close save a few and those who are in a position to go to university/college will likely follow the previous paragraph.
    Hey, at least they would have "manufacturing". The West would be so lucky. I don't see those kind of jobs as a bad thing, if they're available. There's a likely chance that those work environments can coordinate as well - and directly attack a tangible area of production, if they wished (i.e. form unions and strike).

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