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briansd1.
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February 2, 2011 at 4:58 PM #662966February 2, 2011 at 5:23 PM #661847
bearishgurl
Participant[quote=AN][quote=bearishgurl]
My rant was not about any of these things, brian. There’s nothing overly complicated about incurring massive debt. Would YOU like to be 22 or 23 with no job in sight hanging out in your old bdrm at home with student loan payments looming after you spent four years at UCSB and racked up $64K in loans (mostly for living expenses)??[/quote]
Why wasn’t such student working while going to school. Also, are you telling me students are paying $1300/month for rent per person as a student? Such student is living WAY TOO LAVISHLY to be complaining.[/quote]The $1300 isn’t just “rent,” AN. They have to buy books, pay for gas or transportation, parking at school and/or work, food and share the cost of utilities, etc. $1300 mo doesn’t go very far in LA, SB, SF, SJ, Irvine & Berkeley. Of course the student has roommate(s) and has to work. That is a given.
Many of these VA kids (unless their parent has 100% service-connected disability) only get FEES paid by the VA. The CalVet program even has a limitation on FEES. With that program, there is about a $12K limit per year on the child’s income to qualify. If the student makes over about $11K, they don’t pay all the fees, they only pay $1275 to $1500 in fees per semester (if any Piggs know if this benefit went up, correct me here).
Then there is the gas or train/airline tix to go home for holidays.
And this is all assuming parents cover cell phone, car insurance and health insurance.
“Chapter 30” students (who have a parent w/100% svc conn disability) get about $820 mo for living expenses and books (any Piggs correct me if this went up a little) on top of the tuition and/or fees pd. This is still not enough to live on every month, even in Merced. Even the “Chapter 30 student” has to work, take out loans, or both.
In a high-cost area, if the student doesn’t make $25-$30K min annually AND live with 2-3 roommates, they can’t stay. They will end up having to leave school early or take out loans.
AN, are you aware the CSU system fees were just increased to over $1,600 for 6 sem hrs or less (the *new* “part time”) for Spring 2011 semester that has just begun??
February 2, 2011 at 5:23 PM #661909Participant[quote=AN][quote=bearishgurl]
My rant was not about any of these things, brian. There’s nothing overly complicated about incurring massive debt. Would YOU like to be 22 or 23 with no job in sight hanging out in your old bdrm at home with student loan payments looming after you spent four years at UCSB and racked up $64K in loans (mostly for living expenses)??[/quote]
Why wasn’t such student working while going to school. Also, are you telling me students are paying $1300/month for rent per person as a student? Such student is living WAY TOO LAVISHLY to be complaining.[/quote]The $1300 isn’t just “rent,” AN. They have to buy books, pay for gas or transportation, parking at school and/or work, food and share the cost of utilities, etc. $1300 mo doesn’t go very far in LA, SB, SF, SJ, Irvine & Berkeley. Of course the student has roommate(s) and has to work. That is a given.
Many of these VA kids (unless their parent has 100% service-connected disability) only get FEES paid by the VA. The CalVet program even has a limitation on FEES. With that program, there is about a $12K limit per year on the child’s income to qualify. If the student makes over about $11K, they don’t pay all the fees, they only pay $1275 to $1500 in fees per semester (if any Piggs know if this benefit went up, correct me here).
Then there is the gas or train/airline tix to go home for holidays.
And this is all assuming parents cover cell phone, car insurance and health insurance.
“Chapter 30” students (who have a parent w/100% svc conn disability) get about $820 mo for living expenses and books (any Piggs correct me if this went up a little) on top of the tuition and/or fees pd. This is still not enough to live on every month, even in Merced. Even the “Chapter 30 student” has to work, take out loans, or both.
In a high-cost area, if the student doesn’t make $25-$30K min annually AND live with 2-3 roommates, they can’t stay. They will end up having to leave school early or take out loans.
AN, are you aware the CSU system fees were just increased to over $1,600 for 6 sem hrs or less (the *new* “part time”) for Spring 2011 semester that has just begun??
February 2, 2011 at 5:23 PM #662512Participant[quote=AN][quote=bearishgurl]
My rant was not about any of these things, brian. There’s nothing overly complicated about incurring massive debt. Would YOU like to be 22 or 23 with no job in sight hanging out in your old bdrm at home with student loan payments looming after you spent four years at UCSB and racked up $64K in loans (mostly for living expenses)??[/quote]
Why wasn’t such student working while going to school. Also, are you telling me students are paying $1300/month for rent per person as a student? Such student is living WAY TOO LAVISHLY to be complaining.[/quote]The $1300 isn’t just “rent,” AN. They have to buy books, pay for gas or transportation, parking at school and/or work, food and share the cost of utilities, etc. $1300 mo doesn’t go very far in LA, SB, SF, SJ, Irvine & Berkeley. Of course the student has roommate(s) and has to work. That is a given.
Many of these VA kids (unless their parent has 100% service-connected disability) only get FEES paid by the VA. The CalVet program even has a limitation on FEES. With that program, there is about a $12K limit per year on the child’s income to qualify. If the student makes over about $11K, they don’t pay all the fees, they only pay $1275 to $1500 in fees per semester (if any Piggs know if this benefit went up, correct me here).
Then there is the gas or train/airline tix to go home for holidays.
And this is all assuming parents cover cell phone, car insurance and health insurance.
“Chapter 30” students (who have a parent w/100% svc conn disability) get about $820 mo for living expenses and books (any Piggs correct me if this went up a little) on top of the tuition and/or fees pd. This is still not enough to live on every month, even in Merced. Even the “Chapter 30 student” has to work, take out loans, or both.
In a high-cost area, if the student doesn’t make $25-$30K min annually AND live with 2-3 roommates, they can’t stay. They will end up having to leave school early or take out loans.
AN, are you aware the CSU system fees were just increased to over $1,600 for 6 sem hrs or less (the *new* “part time”) for Spring 2011 semester that has just begun??
February 2, 2011 at 5:23 PM #662648Participant[quote=AN][quote=bearishgurl]
My rant was not about any of these things, brian. There’s nothing overly complicated about incurring massive debt. Would YOU like to be 22 or 23 with no job in sight hanging out in your old bdrm at home with student loan payments looming after you spent four years at UCSB and racked up $64K in loans (mostly for living expenses)??[/quote]
Why wasn’t such student working while going to school. Also, are you telling me students are paying $1300/month for rent per person as a student? Such student is living WAY TOO LAVISHLY to be complaining.[/quote]The $1300 isn’t just “rent,” AN. They have to buy books, pay for gas or transportation, parking at school and/or work, food and share the cost of utilities, etc. $1300 mo doesn’t go very far in LA, SB, SF, SJ, Irvine & Berkeley. Of course the student has roommate(s) and has to work. That is a given.
Many of these VA kids (unless their parent has 100% service-connected disability) only get FEES paid by the VA. The CalVet program even has a limitation on FEES. With that program, there is about a $12K limit per year on the child’s income to qualify. If the student makes over about $11K, they don’t pay all the fees, they only pay $1275 to $1500 in fees per semester (if any Piggs know if this benefit went up, correct me here).
Then there is the gas or train/airline tix to go home for holidays.
And this is all assuming parents cover cell phone, car insurance and health insurance.
“Chapter 30” students (who have a parent w/100% svc conn disability) get about $820 mo for living expenses and books (any Piggs correct me if this went up a little) on top of the tuition and/or fees pd. This is still not enough to live on every month, even in Merced. Even the “Chapter 30 student” has to work, take out loans, or both.
In a high-cost area, if the student doesn’t make $25-$30K min annually AND live with 2-3 roommates, they can’t stay. They will end up having to leave school early or take out loans.
AN, are you aware the CSU system fees were just increased to over $1,600 for 6 sem hrs or less (the *new* “part time”) for Spring 2011 semester that has just begun??
February 2, 2011 at 5:23 PM #662981Participant[quote=AN][quote=bearishgurl]
My rant was not about any of these things, brian. There’s nothing overly complicated about incurring massive debt. Would YOU like to be 22 or 23 with no job in sight hanging out in your old bdrm at home with student loan payments looming after you spent four years at UCSB and racked up $64K in loans (mostly for living expenses)??[/quote]
Why wasn’t such student working while going to school. Also, are you telling me students are paying $1300/month for rent per person as a student? Such student is living WAY TOO LAVISHLY to be complaining.[/quote]The $1300 isn’t just “rent,” AN. They have to buy books, pay for gas or transportation, parking at school and/or work, food and share the cost of utilities, etc. $1300 mo doesn’t go very far in LA, SB, SF, SJ, Irvine & Berkeley. Of course the student has roommate(s) and has to work. That is a given.
Many of these VA kids (unless their parent has 100% service-connected disability) only get FEES paid by the VA. The CalVet program even has a limitation on FEES. With that program, there is about a $12K limit per year on the child’s income to qualify. If the student makes over about $11K, they don’t pay all the fees, they only pay $1275 to $1500 in fees per semester (if any Piggs know if this benefit went up, correct me here).
Then there is the gas or train/airline tix to go home for holidays.
And this is all assuming parents cover cell phone, car insurance and health insurance.
“Chapter 30” students (who have a parent w/100% svc conn disability) get about $820 mo for living expenses and books (any Piggs correct me if this went up a little) on top of the tuition and/or fees pd. This is still not enough to live on every month, even in Merced. Even the “Chapter 30 student” has to work, take out loans, or both.
In a high-cost area, if the student doesn’t make $25-$30K min annually AND live with 2-3 roommates, they can’t stay. They will end up having to leave school early or take out loans.
AN, are you aware the CSU system fees were just increased to over $1,600 for 6 sem hrs or less (the *new* “part time”) for Spring 2011 semester that has just begun??
February 2, 2011 at 6:20 PM #661852njtosd
Participant[quote=bearishgurl]
And this is all assuming parents cover cell phone, car insurance and health insurance.[/quote]
Last I checked, a cell phone and a car count as “wants” not “needs” for a college student. I graduated undergrad in 1985 and no one I went to school with had a car – and there wasn’t a whole lot of public transportation. You went where you could walk or bike. That takes care of the parking costs as well. I also shared a house and a single phone line with 7 other people. I think I agree with AN on this one.
February 2, 2011 at 6:20 PM #661914Participant[quote=bearishgurl]
And this is all assuming parents cover cell phone, car insurance and health insurance.[/quote]
Last I checked, a cell phone and a car count as “wants” not “needs” for a college student. I graduated undergrad in 1985 and no one I went to school with had a car – and there wasn’t a whole lot of public transportation. You went where you could walk or bike. That takes care of the parking costs as well. I also shared a house and a single phone line with 7 other people. I think I agree with AN on this one.
February 2, 2011 at 6:20 PM #662517Participant[quote=bearishgurl]
And this is all assuming parents cover cell phone, car insurance and health insurance.[/quote]
Last I checked, a cell phone and a car count as “wants” not “needs” for a college student. I graduated undergrad in 1985 and no one I went to school with had a car – and there wasn’t a whole lot of public transportation. You went where you could walk or bike. That takes care of the parking costs as well. I also shared a house and a single phone line with 7 other people. I think I agree with AN on this one.
February 2, 2011 at 6:20 PM #662653Participant[quote=bearishgurl]
And this is all assuming parents cover cell phone, car insurance and health insurance.[/quote]
Last I checked, a cell phone and a car count as “wants” not “needs” for a college student. I graduated undergrad in 1985 and no one I went to school with had a car – and there wasn’t a whole lot of public transportation. You went where you could walk or bike. That takes care of the parking costs as well. I also shared a house and a single phone line with 7 other people. I think I agree with AN on this one.
February 2, 2011 at 6:20 PM #662986Participant[quote=bearishgurl]
And this is all assuming parents cover cell phone, car insurance and health insurance.[/quote]
Last I checked, a cell phone and a car count as “wants” not “needs” for a college student. I graduated undergrad in 1985 and no one I went to school with had a car – and there wasn’t a whole lot of public transportation. You went where you could walk or bike. That takes care of the parking costs as well. I also shared a house and a single phone line with 7 other people. I think I agree with AN on this one.
February 2, 2011 at 6:33 PM #661862
CoronitaParticipant[quote=bearishgurl][quote=flu]Um…Ok…[/quote]
flu, I hope you’re able to pay for 100% of your children’s college education with the time comes, including living expenses and books, etc. I hope nothing catastrophic befalls you between now and then or you have some other entity (the VA, etc) that will help you finance it. And I hope YOUR OWN bills are low enough then so that you can pour all your money into your kids between age 18 and 23, ’cause they’re going to need it if they go FT to college somewhere other than living at home (your house) all four years. And I sincerely hope they can graduate from a CA public university in four years. If they go private, I hope you win the lottery or save at least $150K for each kid (they have to “live” somehow while they go to school).
And lastly, I hope your kid(s) AND you get a good return on YOUR investment.[/quote]
BG, thanks for your concern, but I think I’ll be ok. I’ve been able to save about $8k each year in kid’s 529 plan since birth, and further contributions will be towards in a ugma account that isn’t just tied to education expenses..I don’t like the 529 plans because generally the fund selection stinks and the fees are higher.
Also, like many things in life, I don’t view a that a kids education with the viewpoint with an ROI frankly…Because imho there are things that you just can’t put an ROI on… If she can get into Harvard or MIT, Stanford, by all means, why wouldn’t I want to send her there? That said, I’m not holding my breath that that will happen. Looks like I fit the asian stereotype after all
February 2, 2011 at 6:33 PM #661924CoronitaParticipant[quote=bearishgurl][quote=flu]Um…Ok…[/quote]
flu, I hope you’re able to pay for 100% of your children’s college education with the time comes, including living expenses and books, etc. I hope nothing catastrophic befalls you between now and then or you have some other entity (the VA, etc) that will help you finance it. And I hope YOUR OWN bills are low enough then so that you can pour all your money into your kids between age 18 and 23, ’cause they’re going to need it if they go FT to college somewhere other than living at home (your house) all four years. And I sincerely hope they can graduate from a CA public university in four years. If they go private, I hope you win the lottery or save at least $150K for each kid (they have to “live” somehow while they go to school).
And lastly, I hope your kid(s) AND you get a good return on YOUR investment.[/quote]
BG, thanks for your concern, but I think I’ll be ok. I’ve been able to save about $8k each year in kid’s 529 plan since birth, and further contributions will be towards in a ugma account that isn’t just tied to education expenses..I don’t like the 529 plans because generally the fund selection stinks and the fees are higher.
Also, like many things in life, I don’t view a that a kids education with the viewpoint with an ROI frankly…Because imho there are things that you just can’t put an ROI on… If she can get into Harvard or MIT, Stanford, by all means, why wouldn’t I want to send her there? That said, I’m not holding my breath that that will happen. Looks like I fit the asian stereotype after all
February 2, 2011 at 6:33 PM #662527CoronitaParticipant[quote=bearishgurl][quote=flu]Um…Ok…[/quote]
flu, I hope you’re able to pay for 100% of your children’s college education with the time comes, including living expenses and books, etc. I hope nothing catastrophic befalls you between now and then or you have some other entity (the VA, etc) that will help you finance it. And I hope YOUR OWN bills are low enough then so that you can pour all your money into your kids between age 18 and 23, ’cause they’re going to need it if they go FT to college somewhere other than living at home (your house) all four years. And I sincerely hope they can graduate from a CA public university in four years. If they go private, I hope you win the lottery or save at least $150K for each kid (they have to “live” somehow while they go to school).
And lastly, I hope your kid(s) AND you get a good return on YOUR investment.[/quote]
BG, thanks for your concern, but I think I’ll be ok. I’ve been able to save about $8k each year in kid’s 529 plan since birth, and further contributions will be towards in a ugma account that isn’t just tied to education expenses..I don’t like the 529 plans because generally the fund selection stinks and the fees are higher.
Also, like many things in life, I don’t view a that a kids education with the viewpoint with an ROI frankly…Because imho there are things that you just can’t put an ROI on… If she can get into Harvard or MIT, Stanford, by all means, why wouldn’t I want to send her there? That said, I’m not holding my breath that that will happen. Looks like I fit the asian stereotype after all
February 2, 2011 at 6:33 PM #662663CoronitaParticipant[quote=bearishgurl][quote=flu]Um…Ok…[/quote]
flu, I hope you’re able to pay for 100% of your children’s college education with the time comes, including living expenses and books, etc. I hope nothing catastrophic befalls you between now and then or you have some other entity (the VA, etc) that will help you finance it. And I hope YOUR OWN bills are low enough then so that you can pour all your money into your kids between age 18 and 23, ’cause they’re going to need it if they go FT to college somewhere other than living at home (your house) all four years. And I sincerely hope they can graduate from a CA public university in four years. If they go private, I hope you win the lottery or save at least $150K for each kid (they have to “live” somehow while they go to school).
And lastly, I hope your kid(s) AND you get a good return on YOUR investment.[/quote]
BG, thanks for your concern, but I think I’ll be ok. I’ve been able to save about $8k each year in kid’s 529 plan since birth, and further contributions will be towards in a ugma account that isn’t just tied to education expenses..I don’t like the 529 plans because generally the fund selection stinks and the fees are higher.
Also, like many things in life, I don’t view a that a kids education with the viewpoint with an ROI frankly…Because imho there are things that you just can’t put an ROI on… If she can get into Harvard or MIT, Stanford, by all means, why wouldn’t I want to send her there? That said, I’m not holding my breath that that will happen. Looks like I fit the asian stereotype after all
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