OT: college; fear of debt

[scaredyclassic]

Is there a word in English (or any other language) for “fear of debt”. should it be coined now? Debitopohobia? Something catchier?

The Plan was to send my senior to community college, then transfer. This was driven largely by Debitopohobia. Also by desire to keep him close by.

Not sure now. He got high SAT scores (95th percentile) and has about 40 credits from AP classes. Not sure what to do. Hate to be super cheap on my clever kid’s life. On the other hand, teaching him to minimize debt is good. Also think it would give him time to sort through goals, grow up a bit. The Plan is a little shaky. It’s hard to maintain a plan in life.

[spdrun]

State university, not necessarily in CA. No point in paying for high school remedial stuff in community college.

[scaredyclassic]

room and board plus tuition is gonna be 20something thousand a year.

why not pay $900 at mt san jacinto JC?

[spdrun]

If he lives at home, aren’t the UC schools closer to $13k/yr? Community college degrees get no respect.

[CafeMoto]

Debt for a limited time can be enabling.
Statistics still vastly favor formal education.
Fear wanting to go later and have put it off too long.

[scaredyclassic]

debt for a limited time can be enabling.

but i started law school in 92. just paid offa private loan this year. and refinanced by gov loans to be paid off in 2022! thats a life sentence.

[scaredyclassic]

could travel to uc riverside or ucsd i suppose. but the comm college is closer.

[spdrun]

but i started law school in 92. just paid offa private loan this year. and refinanced by gov loans to be paid off in 2022! thats a life sentence.

Depending on how you play it. If you are smart enough not to breed right after college, and live below your means for a few years, you can hammer down $30k of loans per year.

[scaredyclassic]

i was like a rabbit. a poorly paid quick breeding stupid rabbit!

[scaredyclassic]

OK, I’m waiting for the appraiser to come and look at my shack for a refinance and poring over college websites for inspiration.

i think I am back on track to the Plan after being momentarily distracted by some number spit out by an alleged “aptitude” test..

I like the idea of the Honors program at the local community college. a little more serious. get a bunch of credits. he’ll be halfway done with his B.A. once you count his AP and comm coll credits. then he can transfer, go move away in 2014 or so and go to UC or cal state or wherever. and it’ll cost half as much, since he will be half done. i can pay half of the half, he’ll borrow half, maybe work some. I could live with half of half.

The best laid schemes o’ Mice an’ Men,
Gang aft agley,
An’ lea’e us nought but grief an’ pain,
For promis’d joy!
(The best laid schemes of Mice and Men
oft go awry,
And leave us nothing but grief and pain,
For promised joy!)

[scaredyclassic]

maybe inflation isgoing tomake today’s college debt look tiny some day?

[scaredyclassic]

honors program. community college.

he can live in this nice house i spent so much money on.

we can enjoy his company for one more year.

transfer to uc riverside or san diego

he is more likely to fall in love with some local girl…

that’s my primary argument against going too far away. it increases the chances that you never come back…

i do not want anyone to go too far away.

in other words, remain in southern cal.

[SK in CV]

[quote=spdrun]If he lives at home, aren’t the UC schools closer to $13k/yr? Community college degrees get no respect.[/quote]

I’m pretty sure that’s still the case. It’s not a whole lot higher than that. Outside of the tuition (or fees, as the case may be), the costs should be roughly the same. Similar books. Still gotta eat and have a roof over their heads. Might save a little bit on hoodies. (Do kids really want a sweatshirt that says “MESA COLLEGE”?)

You’re right that community college degrees don’t get any respect, but that’s moot if the kid continues on and gets a 4 year degree. The degree is identical to the kids that went to the more expensive school for all 4 years.

But there is something to be said for the college experience. Can you really justify telling your kid to be $25 to $40K more in debt at the end of their college life in order for them to have 2 years that might be better at a UC or CSU school than at a community college?

One of my kids went the community college route, and then to UC, the other went to directly to UC. I was fortunate enough (or I guess they were) to be able to pay for it. And they both ended up with pretty good experiences. I’d be hard pressed to say which one made the better choice. But I know which one was cheaper.

[scaredyclassic]

i would definitely proudly wear a mt san jac college hoodie.

problem; my mom feels that because they paid for ivy league schooling for me…that somehow im dropping the ball and failing in my duties…

[scaredyclassic]

25-40k is a lot of money at the beginning of life, where it’s my opinion that total freedom from debt is paramount.

to pursue opportunity; to quit jobs; to ramble about; to be free.

[Author]

Posts