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bearishgurl
Participant[quote=Scarlett]I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.
Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?[/quote]
You are correct in that it is very difficult anywhere for a 50+ year old to obtain another job after leaving or losing one. I was thinking more along the lines of the parent(s) moving back to their home state to help in a family business, transferring to a new intallation thru the military or Federal Civil Service or corporate workers transfering to “headquarters” or a new regional office of their companies. These types of job transfers, if strategically planned in advance, aren’t that difficult to make happen.
There is already an overflow of qualified applicants for CA university billets and this DID NOT translate into more admissions or classes for students. In addition, the fees have been raised at least 10 times in the CSU system in the last eight or so years. It appears to me that the two systems are trying to eliminate more pension obligations so are letting go instructors before they vest. Meanwhile, the ones that are retiring are not being replaced. One business department head at SFSU told me that he had never been asked to lay off as many instructors as he had to in 2010 in his 30+ years in the system.
Participant[quote=Scarlett]I don’t think many parents now close(r) to the retirement (in their 50s) would up and go just for the kid to get residency in a certain state. Jobs for “older” people are harder to find too. So that leaves the kids having to borrow a boatload of money to pay for an out-of-state and/or private college.
Coming back to California – if there will be many more in-state QUALIFIED applicants, wouldn’t that translate in more money paid to the universities => more money to hire/expand teachers/classes etc.?[/quote]
You are correct in that it is very difficult anywhere for a 50+ year old to obtain another job after leaving or losing one. I was thinking more along the lines of the parent(s) moving back to their home state to help in a family business, transferring to a new intallation thru the military or Federal Civil Service or corporate workers transfering to “headquarters” or a new regional office of their companies. These types of job transfers, if strategically planned in advance, aren’t that difficult to make happen.
There is already an overflow of qualified applicants for CA university billets and this DID NOT translate into more admissions or classes for students. In addition, the fees have been raised at least 10 times in the CSU system in the last eight or so years. It appears to me that the two systems are trying to eliminate more pension obligations so are letting go instructors before they vest. Meanwhile, the ones that are retiring are not being replaced. One business department head at SFSU told me that he had never been asked to lay off as many instructors as he had to in 2010 in his 30+ years in the system.
Participant[quote=Scarlett]Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?[/quote]
No, they can borrow extra money over and above tuition, fees, books and parking for “living expenses.” What is left of the loan after these items are paid can be spent on anything and everything and often is. No one will ask the student where the money went. Also, a student can still qualify for a loan even though a parent or other relative is helping them. The rules are not the same as a for a grant and they don’t have to submit a FAFSA to obtain a loan. They are not based upon need. Often they take out student loans without these relatives’ knowledge, in order to live a “better lifestyle” than is funded by their benefactors without having to work while in school.
Participant[quote=Scarlett]Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?[/quote]
No, they can borrow extra money over and above tuition, fees, books and parking for “living expenses.” What is left of the loan after these items are paid can be spent on anything and everything and often is. No one will ask the student where the money went. Also, a student can still qualify for a loan even though a parent or other relative is helping them. The rules are not the same as a for a grant and they don’t have to submit a FAFSA to obtain a loan. They are not based upon need. Often they take out student loans without these relatives’ knowledge, in order to live a “better lifestyle” than is funded by their benefactors without having to work while in school.
Participant[quote=Scarlett]Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?[/quote]
No, they can borrow extra money over and above tuition, fees, books and parking for “living expenses.” What is left of the loan after these items are paid can be spent on anything and everything and often is. No one will ask the student where the money went. Also, a student can still qualify for a loan even though a parent or other relative is helping them. The rules are not the same as a for a grant and they don’t have to submit a FAFSA to obtain a loan. They are not based upon need. Often they take out student loans without these relatives’ knowledge, in order to live a “better lifestyle” than is funded by their benefactors without having to work while in school.
Participant[quote=Scarlett]Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?[/quote]
No, they can borrow extra money over and above tuition, fees, books and parking for “living expenses.” What is left of the loan after these items are paid can be spent on anything and everything and often is. No one will ask the student where the money went. Also, a student can still qualify for a loan even though a parent or other relative is helping them. The rules are not the same as a for a grant and they don’t have to submit a FAFSA to obtain a loan. They are not based upon need. Often they take out student loans without these relatives’ knowledge, in order to live a “better lifestyle” than is funded by their benefactors without having to work while in school.
Participant[quote=Scarlett]Errr…. I have no experience with college loans, but I am very surprised that students are allowed to even borrow more than strictly tuition+books/materials. Don’t they have to justify the expenses?[/quote]
No, they can borrow extra money over and above tuition, fees, books and parking for “living expenses.” What is left of the loan after these items are paid can be spent on anything and everything and often is. No one will ask the student where the money went. Also, a student can still qualify for a loan even though a parent or other relative is helping them. The rules are not the same as a for a grant and they don’t have to submit a FAFSA to obtain a loan. They are not based upon need. Often they take out student loans without these relatives’ knowledge, in order to live a “better lifestyle” than is funded by their benefactors without having to work while in school.
May 6, 2011 at 11:05 AM in reply to: OT: California Prison Academy: Better Than a Harvard Degree #692931Participant[quote=CA renter]…“Although pension funds have gained back some of the deep losses suffered during the recession, the plans remain underfunded by billions of dollars, and projections show costs to governments increasing in the future as more baby boomers retire.”
This claim also needs to be addressed. The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.
The notion that “taxpayers” are the ones paying for everything is pure B.S. It has not been that way, and I highly doubt it will ever be that way. People need to understand how the system works before they spout off about it.[/quote]
Amen, CAR. Some of this “underfunding” problem was caused from mismanagement of pension funds. In the County of SD, a former pension fund mgr who made investment decisions in favor of risky futures contracts and derivatives was summarily sh!tcanned and replaced.
May 6, 2011 at 11:05 AM in reply to: OT: California Prison Academy: Better Than a Harvard Degree #693009Participant[quote=CA renter]…“Although pension funds have gained back some of the deep losses suffered during the recession, the plans remain underfunded by billions of dollars, and projections show costs to governments increasing in the future as more baby boomers retire.”
This claim also needs to be addressed. The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.
The notion that “taxpayers” are the ones paying for everything is pure B.S. It has not been that way, and I highly doubt it will ever be that way. People need to understand how the system works before they spout off about it.[/quote]
Amen, CAR. Some of this “underfunding” problem was caused from mismanagement of pension funds. In the County of SD, a former pension fund mgr who made investment decisions in favor of risky futures contracts and derivatives was summarily sh!tcanned and replaced.
May 6, 2011 at 11:05 AM in reply to: OT: California Prison Academy: Better Than a Harvard Degree #693614Participant[quote=CA renter]…“Although pension funds have gained back some of the deep losses suffered during the recession, the plans remain underfunded by billions of dollars, and projections show costs to governments increasing in the future as more baby boomers retire.”
This claim also needs to be addressed. The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.
The notion that “taxpayers” are the ones paying for everything is pure B.S. It has not been that way, and I highly doubt it will ever be that way. People need to understand how the system works before they spout off about it.[/quote]
Amen, CAR. Some of this “underfunding” problem was caused from mismanagement of pension funds. In the County of SD, a former pension fund mgr who made investment decisions in favor of risky futures contracts and derivatives was summarily sh!tcanned and replaced.
May 6, 2011 at 11:05 AM in reply to: OT: California Prison Academy: Better Than a Harvard Degree #693761Participant[quote=CA renter]…“Although pension funds have gained back some of the deep losses suffered during the recession, the plans remain underfunded by billions of dollars, and projections show costs to governments increasing in the future as more baby boomers retire.”
This claim also needs to be addressed. The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.
The notion that “taxpayers” are the ones paying for everything is pure B.S. It has not been that way, and I highly doubt it will ever be that way. People need to understand how the system works before they spout off about it.[/quote]
Amen, CAR. Some of this “underfunding” problem was caused from mismanagement of pension funds. In the County of SD, a former pension fund mgr who made investment decisions in favor of risky futures contracts and derivatives was summarily sh!tcanned and replaced.
May 6, 2011 at 11:05 AM in reply to: OT: California Prison Academy: Better Than a Harvard Degree #694113Participant[quote=CA renter]…“Although pension funds have gained back some of the deep losses suffered during the recession, the plans remain underfunded by billions of dollars, and projections show costs to governments increasing in the future as more baby boomers retire.”
This claim also needs to be addressed. The largest pension funds are obligated to pay out benefits according to contracts, but most of their funding is NOT from “taxpayers.” Employees pay a portion, employers pay a portion, but the majority comes from investment returns. If the investment returns end up being insufficient, they can always extract more from the employees.
The notion that “taxpayers” are the ones paying for everything is pure B.S. It has not been that way, and I highly doubt it will ever be that way. People need to understand how the system works before they spout off about it.[/quote]
Amen, CAR. Some of this “underfunding” problem was caused from mismanagement of pension funds. In the County of SD, a former pension fund mgr who made investment decisions in favor of risky futures contracts and derivatives was summarily sh!tcanned and replaced.
Participant[quote=Scarlett]Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?
What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.[/quote]
I depends what you mean by “decent.” An HVAC technician starting at $27.10 per hr with upward mobility is “decent” for a 20 year old in my book. I don’t think ten years from now there will be less people working on college degrees but I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.
I could see employers offering to pay for enrichment classes one at a time to employees who are taking classes in their line of work. But I don’t see them funding a four-year degree for an employee or assuming any of their college debt. Employers don’t actually CARE if their employees have longetivity with them or not. In CA, there are plenty of applicants waiting in the wings who will work for less.
Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant]
Participant[quote=Scarlett]Anybody thinks college will become less of a requirement for a decent job? Given that in 10 years from now not that many people would even get a college degree?
What about the idea that companies/employers offer college graduates a minimum pay AND assume the college debt – IF the graduate stays with them for X (5?10?) years. (equivalent of mortgage I suppose). Indentured servitude.[/quote]
I depends what you mean by “decent.” An HVAC technician starting at $27.10 per hr with upward mobility is “decent” for a 20 year old in my book. I don’t think ten years from now there will be less people working on college degrees but I think there are and will be too many incoming students who are qualified and want to attend CA public universities when there are insufficient billets. Thus, they will have to go private or out of state if they want to work on a four-year degree. This could cause some parents to move to another state at least one-year prior to HS graduation to establish residency. Or move after HS graduation and their new graduate taking one year off to work. Out-of-state tuition cost 2.5 to 3 times as much as in-state tuition. It is needless to pay that if the parents can otherwise transfer in their job(s) or obtain a new one.
I could see employers offering to pay for enrichment classes one at a time to employees who are taking classes in their line of work. But I don’t see them funding a four-year degree for an employee or assuming any of their college debt. Employers don’t actually CARE if their employees have longetivity with them or not. In CA, there are plenty of applicants waiting in the wings who will work for less.
Why should anyone else assume someone’s college loan? Most ex-students who have exorbitant loans to pay back used a portion of that money to party, go to Starbucks every day while in school and bought all new books when used ones were available for a fraction of the cost. Or they lived in an apt beyond their means and traveled excessively on school breaks. I don’t feel sorry for some of these students. They used their student loans like a credit card. Eventually it becomes time to pay it back. That’s the way life is. [end of rant]
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