Not to be a smart a$$, but Have her apply to the large Police Dept., and then after a couple years, move to Indy, and apply at IMPD .....
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How do you pay back an $87,500 student loan with a $22,000 per year job?
- Thread starter longbow
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Not to be a smart a$$, but Have her apply to the large Police Dept., and then after a couple years, move to Indy, and apply at IMPD .....
Lammchop93
Master
Not to offend anyone, but if someone is only making $22,000 with a college degree, they either need to find a better job paying them what they deserve, or should've picked a better major that actually pays something to live off of.
They are not exclusive.
You can get the factory job first. A lot of them have programs to help pay for college.
Then you work AND go to school.
It may take a little longer, but cost you a LOT less.
hoosierdoc
Freed prisoner
Never fear, Hillary will run in 2016 on a new indentured servitude campaign to help
unburden the nations youth. Vote for her and she'll pay off your loans while you gain valuable work experience doing the domestic peace Corps style jobs she certifies such as voter registration officers, epa undercover investigator, etc.
it WILL be a 2016 dem platform piece, even though they are largely responsible for it
unburden the nations youth. Vote for her and she'll pay off your loans while you gain valuable work experience doing the domestic peace Corps style jobs she certifies such as voter registration officers, epa undercover investigator, etc.
it WILL be a 2016 dem platform piece, even though they are largely responsible for it
Am I missing something? Without knowing "her" or her situation and skills, why would you recommend a career in LE?
I think we've found our replacement for 88GT. Or who was that other shooter constantly belittling education?
Your overly broad statement about college is wrong. For me, college was a must. Heck, I got to the point where my BSEE didn't take me far enough and I needed an MSE (paid by employer). So, no college is not pointless.
However, college is wrongly seen as the the catchall panacea to education and training. According to some (Pres. included) college is a must. More people should take the tack of Mike Rowe on this and see there's other ways into the workforce for a fulfilling career.
I also lay some blame at the feet of high school "guidance counselors".
They pretty much know everyone who is in the "college track" at their school; or can look it up. And don't they all have pre-graduation assesment meetings that go on to be sure the kid will graduate? And/or college information seminars?
I had an acquaintance (A few, actually) who went to Lancaster Bible College. An unaccredited expensive private college. One of them got a degree in "Bible". And took several several thousand dollars in student loans to do it. I've since lost contact with her, but last I knew, she'd been doing "nannying" and receptionist type jobs for about 10 years. Then finally decided to go BACK to school to learn how to be a Phleb tech. I don't know how much those folks make, but I'm sure it's a better living than answering phones.
As for me and my road - I looked at two expensive universities and one CHEAP one. Butler, University of Evansville, and the University of Southern Indiana. Quickly learned that I/we couldn't afford Butler or UE. So, I chose the least expensive 4-year school (at the time) in Indiana.
I also did what I was supposed to do in HS and, therefore, earned a 1/2 tuition scholarship to USI. I also did what I was supposed to do and pester my guidance counselor for any/all scholarship applications that I though I had a CHANCE, however slim, at getting. I even talked to my manager at work (Kroger) to inquire if there was any kind of corporate scholarship that I could apply for.
And despite taking out a "just in case" loan for that first year; I'd earned enough in private scholarships + uni scholarship that I MADE money my freshman year. The loan money sat unused. My refunded money (Wasn't allowed to carry a + balance on my school account) was my spending money. The lady at the bursar's office told my mom and me that she'd never seen so many scholarships for one student...and she'd been there 20 years.
After two years of school, I decided that I wanted to apply to be an RA. I was an RA for three years. - and that paid for six semesters of housing. The latter two years, I also earned a small stipend on top of that.
Oh - and I had a part-time job off campus, too. Mostly Saturdays, but sometimes an evening or two during the week.
All was well until my uni scholarship ran out halfway through my first semester of my 5th year. I'd hit the "hours covered" limit. I did borrow another $4k to cover tuition during this last year - but only because my mom/step dad were in NO position to help any more.
I graduated with less than $6k in student loan debt.
My first job, in 2001, I earned a whopping $26k / year. BUT, the job involved much travel and thus I got per diem money. $26/day regardless if I used it or not. All that money I didn't use paid for my loan installments, rent, and food.
Paid off my loans within 1 calendar year of graduating.
I guess I'm "atypical", though, in that I was willing to attend a cheap university, willing to WORK and work a LOT during school, AND to pick a course of study that would lead to semi-gainful employment. Silly, right?
They pretty much know everyone who is in the "college track" at their school; or can look it up. And don't they all have pre-graduation assesment meetings that go on to be sure the kid will graduate? And/or college information seminars?
I had an acquaintance (A few, actually) who went to Lancaster Bible College. An unaccredited expensive private college. One of them got a degree in "Bible". And took several several thousand dollars in student loans to do it. I've since lost contact with her, but last I knew, she'd been doing "nannying" and receptionist type jobs for about 10 years. Then finally decided to go BACK to school to learn how to be a Phleb tech. I don't know how much those folks make, but I'm sure it's a better living than answering phones.
As for me and my road - I looked at two expensive universities and one CHEAP one. Butler, University of Evansville, and the University of Southern Indiana. Quickly learned that I/we couldn't afford Butler or UE. So, I chose the least expensive 4-year school (at the time) in Indiana.
I also did what I was supposed to do in HS and, therefore, earned a 1/2 tuition scholarship to USI. I also did what I was supposed to do and pester my guidance counselor for any/all scholarship applications that I though I had a CHANCE, however slim, at getting. I even talked to my manager at work (Kroger) to inquire if there was any kind of corporate scholarship that I could apply for.
And despite taking out a "just in case" loan for that first year; I'd earned enough in private scholarships + uni scholarship that I MADE money my freshman year. The loan money sat unused. My refunded money (Wasn't allowed to carry a + balance on my school account) was my spending money. The lady at the bursar's office told my mom and me that she'd never seen so many scholarships for one student...and she'd been there 20 years.
After two years of school, I decided that I wanted to apply to be an RA. I was an RA for three years. - and that paid for six semesters of housing. The latter two years, I also earned a small stipend on top of that.
Oh - and I had a part-time job off campus, too. Mostly Saturdays, but sometimes an evening or two during the week.
All was well until my uni scholarship ran out halfway through my first semester of my 5th year. I'd hit the "hours covered" limit. I did borrow another $4k to cover tuition during this last year - but only because my mom/step dad were in NO position to help any more.
I graduated with less than $6k in student loan debt.
My first job, in 2001, I earned a whopping $26k / year. BUT, the job involved much travel and thus I got per diem money. $26/day regardless if I used it or not. All that money I didn't use paid for my loan installments, rent, and food.
Paid off my loans within 1 calendar year of graduating.
I guess I'm "atypical", though, in that I was willing to attend a cheap university, willing to WORK and work a LOT during school, AND to pick a course of study that would lead to semi-gainful employment. Silly, right?
CathyInBlue
Grandmaster
To take on the role of devil's advocate a bit, when I was going through, I was counselled to borrow as much in student loans as I possibly could, because in all my life, it would be the cheapest money I was evar gonna borrow. For a couple years, I actually followed that advice, and when I saw the principle building up, I throttled back in my later years. Though it might not have been strictly legal, I heard of some people who borrowed their max every year, but used very little of it for actual necessities. WHat did they use the rest of it for? Throwing wild keggers? Nope. They invested it. After four years, they graduated, cashed out their investments, paid off their loans, and had a nice nest egg to use to get started in their chosen career. This was all back when the interest rate was miniscule. Now that student loan interest rates are approaching double digits, it prolly wouldn't work anymore.
What's the terms on student loans? 10 years?
At 11K payments, that works out to a starting debt of about $100K.
Ouch. Paying over 50% of your gross wages in debt repayment will get you upside down in a hurry.
She should go back to school so she can defer her payments.
At 11K payments, that works out to a starting debt of about $100K.
Ouch. Paying over 50% of your gross wages in debt repayment will get you upside down in a hurry.
She should go back to school so she can defer her payments.
Heck, I'm in factory work (granted I have a lot of experience) but where I work when they need people, they'll take almost ANYONE. I never got my HS diploma, got a GED, and some college.
Right now at current schedule, I'm on track for 40k+ this year, downside is no life and VERY few days off.
Plus side is they have tuition reimbursement that covers ALL costs (books, lab fees, bs fees, etc.) and excellent benefits.
No intention of staying an operator again for 3 years (I've worked at the same place several years back), so I'm looking at going back to school for a certificate (much quicker and less classes than a degree) in OLS (Organizational Leadership and Supervision) to bump up my odds of moving up quicker.
If I lived at home with an income like that, I could pay off debts FAAAAAASSSST... Maybe she needs to look at options outside her field just to increase income and pay down debt, maybe seeing things from a different angle could improve her chances in her field by giving her some varied experience.
Here's a point few will make and maybe less will agree with...I personally had interest in and studied what would be considered "esoteric" subjects and got a degree in them. The thing was, I acknowledged they were esoteric and studying them would never make me rich, but I knew they would make me happy for the next 60 years of my life, so I studied them anyway!
Most modern people expect college to be a gateway to a well paying job, rather than going to seek knowledge for the pursuit of knowledge's sake, which is what the original mission of a university education was...to open oneself to a world of opportunity with a well rounded intellect. The herd simply want "good jobs" (to be materially well off) and if the local news started to promote a $1 million dollar prize for a weekly farting contest, bean consumption would go through the roof. No pun intended...
That's the disconnect, in my opinion. Most ding-a-lings think simply having a degree means automatic $$$ -- like waiting in line entitles you to a concert ticket -- but it is being aware of what your interests and priorities in life are and how to take advantage of opportunities that present themselves that make one successful. Sometimes even financially successful.
Case in point, my esoteric interests led me (late 80s) to find other people with an interest in said subjects, which led me to Usenet, which led me to use FTP, WAIS, UNIX, etc. By 1995 I was being paid damn good money to run websites for people, which gave me great joy and personal satisfaction. Now I have time and $$$ to indulge my esoteric interests properly. And I get to mock less well informed people with my knowledge of computers and the Internet.
Miguel, BA in Crazy **** that Stumps Everyone at Parties and Meetings
I'd argue that anyone has the potential, and the means, to teach themselves anything that a university could. A degree is only "proof" that you were instructed on the subject.
I could peruse the internet for a week, and at the end of it, I may know how to do just about anything given the proper tools.
I don't need my petty degree in Systems Admin. I learned barely anything from going to college.
However, I'm constantly teaching myself how to do things IT related. All the books are available outside of a college environment, if I'd want to bother with those. But the internet is literally filled with resources and repositories of information and education.
Excellent advice for any field really."You must spread some Reputation around before giving it to MCgrease08 again."
Yep, they call that a GOOD job (Get Out Of Debt).
Is that how you did it? How much debt did you leave with? How long did it take you to get the factory job right out of high school?
I learned my craft (instrumentation) in the Navy operating and fixing reactors.
I hired into the mill from there.
I sat there fat, dumb, and happy till something jogged my unhappy lever and made me realize I may one day need another job.
So I went to school in my mid-30s.
The mill paid some money, (for school) not a lot, but any is better than none.
I make decent money.
And cause I was working crazy hours (one semester I worked 7 pm to 7 am, 7 days a week) I was only able to take 2 classes at a time.
Sometimes I could only take 1 due to scheduling.
I took 0 (zero) debt.
I bought used but good condition books.
And I noticed, most of the "traditional" students were busy partying on Mom and Dad's $$$.
Not all, but most.
Most "non-traditional" students asked the questions, went to labs for additional hours, etc.
We were paying good $$$$$ and were after the knowledge so we could do a job.
There was one "traditional" student I remember though. She was going to school while working at Applebees.
She worked hard, studied hard.
So I couldn't really complain much about trying to make things work when she was working harder than me.
VUPDblue
Silencers Have NEVER Been Illegal !
I am the po-po. I have 2 BS and one AS degree, only one of which is outside my field of work. I left school with $0 debt due to scholarships. Looking back now, I don't exactly feel like college was time well spent.
My Dad always told me to have a skill that no one can take away and is not dependent on any one employer.
I don't want anyone to lose their job, but what happens to the assembly line worker who only knows how to work on an assembly line when the plant shut down? He was making great money with few skills, but you can't count on that for life.
Skills that can be taken anywhere can lessen the risk. Dad did it as an engineer. When defense cuts shut down the missile system he was working on....he started building medical devices because guys who knew their way around electronics and software weren't tied to just missiles.
I have a very good friend who is a machinist. He can make just about anything out of metal that you designed...then tell you how the design could be improved. He has been back and forth between a few shops in his career and was only out of work if he wanted to be. Makes decent money.
I knew a guy years ago who is a welder. He's probably retired now, but with his truck mounted mobile welding setup, he could fabricate stair railings from square stock one day, then go weld on a pipeline the next. Again, he had more jobs lined up than he had time.
They all had skills that did not depend on "the plant staying open".
Oh, and as far as student debt- I graduated undergrad debt free for various reasons, and borrowed very little for law school. I considered that particular investment like a loan to get a small business running. In my estimation, it worked out well. I compare it this way: Some of my classmates left law school with McMansion sized loans. I left with a mid-level Camry loan...cloth seats, but the 6 cylinder.
My nephew never spent a day at college and he's making well over $31,000 a year now....He's 21 years old, owns his own home (a trailer) and has a truck and car that are paid for....I just called him and told him he saved himself at least $60-80K by avoiding higher education.
He's got a crappy job that he likes though...no kids, no wife yet. He's thinking about getting his CDL and maybe doing some trucking.
He's got a crappy job that he likes though...no kids, no wife yet. He's thinking about getting his CDL and maybe doing some trucking.
