[quote=meadandale]. . . I think that the reason that so many college students have so much debt these days is partly because many of them don’t work and the rely solely on loans to pay for college and their living expenses. You know what they say about other peoples money: you aren’t really frugal when you are getting a student aid check and aren’t working your ass off to earn that money.[/quote]
This is true, meadandale. I have a kid who is working their way thru college (almost done) and also paying all their own living expenses (in SF, no less), except for cell phone and car insurance. No student loans have been taken out.
Some of the kids I was referring to here DID NOT work and also lived in expensive areas while going to college.
[quote=meadandale]Granted, tuitions have risen MUCH faster than salaries..this is partly because of the student loan industry. If the loans weren’t available the schools wouldn’t be able to raise tuition because noone could afford to go there…and I’m talking about state schools like UCSD and SDSU not ivy league colleges.[/quote]
Yes, those kids I referred to all graduated from CA public universities. If student loans had not been available to them, they might have just graduated from Southwestern College (a CC) with their Associate Degrees and called it a day. A few of them started out there.
Back in my day, only those who could AFFORD to go to college went (about 17% of HS grads). There was very little assistance available.
[quote=meadandale]However, it’s a large part cultural. My niece makes $45k/year working for a judge at the courthouse in SB county…yet she says she “can’t afford” an apartment and so still lives at home at 27 yo. Of course not when she spends 90% of her paycheck every month at the mall on clothes and other crap and eats 3 times a day at starbucks…and even manages to pile more on her credit card.[/quote]
Sounds like your niece is just spoiled, meadandale. Working for a judge is NOT an entry-level position. It is at least two promotions up from that. She DEFINITELY makes enough to live comfortably in SB County as a single person, assuming her debt load is not too high . . . lol. You have your sister/brother and perhaps their spouse to thank for enabling her. They’re not helping her grow up and become independent.
