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Brittany: Tufts grad, owes $118,000

Posted by quiltergirl 
Brittany: Tufts grad, owes $118,000
June 14, 2018
Meet Brittany, a Tufts alum who studied drama and communications and owes $118,000 in student loans. For someone who went to such a prestigious U, she sure was an idiot when it came to understanding the consequences of her decision. https://www.youtube.com/watch?v=r7JcHz6ucyI
Re: Brittany: Tufts grad, owes $118,000
June 14, 2018
I think there are only a few things worth going into debt for. Education is one of them, provided you're studying a career that is highly in demand. There is no shortage of would-be actresses.
Re: Brittany: Tufts grad, owes $118,000
June 14, 2018
When I graduated from college in 1985, I had $8,100 in student loan debt and I thought that was a lot of money. It was about 1/3 of my annual salary ($23,000). I worked in good paying field and kept my expenses under control and was able to pay off the loan (interest rate was 8%) in 2 years. Even if the starting annual salary in my field has tripled in the last ~30 years, the cost of college and student loan debt has surely more than tripled in that time. I can't imagine finishing college with 6-figure student loan debt even if I were earning a good salary, let alone a bad salary.
Re: Brittany: Tufts grad, owes $118,000
June 14, 2018
College today is a venture strictly for the rich. The rest will become debt slaves regardless of the field they enter.

+++++++++++++

Passive Aggressive
Master Of Anti-brat
Excuses!
Re: Brittany: Tufts grad, owes $118,000
June 15, 2018
I think it is great that a small group of students are able to be admitted into selective and highly selective schools. They expect an ACT score of 31-34 at Tufts. This woman is articulate.

Sometimes, just being accepted into a school isn't enough. Considerations such as the degree being pursued, time management, whether the student will have to work and support system once graduated are all important. What happens if the line of work chosen requires an advanced degree or an internship upon graduation? Or perhaps the starting pay is really low?

And to be honest, I think the parents can feed into this if they encourage their child to fixate on one school or one major. There is more than one path that can be followed. And parents may not be basing what their encouraging their children to achieve based on reality. The child may feel like their parents are going to be disappointed if they change their mind.

I think students can fixate on Ivy League or a certain highly selective/expensive school. Getting in is the first of many steps.

I know a woman who graduated from Harvard and ended up teaching school. She was planning to go to Law School but ended up postponing. She had enormous debt and had to move in with her mother while teaching school. Most of her paycheck went to her loans. There is definitely a roll of the dice (especially outside of a STEM degree) but I personally can't imagine going any route other than the cheapest to teach because there will never be a high salary.

Another Ivy League student I know of went to Columbia University. During high school (a very competitive public school filled with kids of engineers) she was one of the smartest. She had a breakdown during her first semester, left school and hasn't been okay since.

Then there are people who were admitted to Ivy League who end up going to the less prestigious school which offers them a full ride scholarship. Perhaps they are able to understand at a young age that debt free is better.

I think $118K in debt would be enough to put me off. In some areas of the country that could almost buy a house. And I knew a few people who didn't have college paid for but did have their house paid for fully and they seemed to be way better off than us struggling college grads in our 20's were. They had 4 years of experience and were past the minimum wage crap jobs plus the biggest expense for most people that age (housing) didn't exist for them. Some of them went to school part-time/full-time at around age 24 and because they didn't earn much, they qualified for tons of financial aid. And when they graduated they were a bit older and also had years of at least some experience.

There are ways to get a degree on the cheap: take college classes while in high school, go to jr. college for 2 years then to a reasonably priced state school.
Re: Brittany: Tufts grad, owes $118,000
June 15, 2018
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craftyzits
College today is a venture strictly for the rich. The rest will become debt slaves regardless of the field they enter.

Not true. A person can still go to the bargain-basement university I went to and not go into debt. I worked full time, lived with a bunch of people in slum conditions and got some scholarships (there are plenty to be had if you have decent grades) and graduated with an in-demand degree and no debt. It can be done, just not at Name Brand U with memories of hanging out on the quad, frat parties and football games. Most of my college memories are of sleep deprivation and dreaming of a life with no roommates.

I have a friend about to get out of nursing school. It’s an in-demand field and like most of them, it doesn’t matter if you went to Harvard or Bumfuck U. She works full time, got half of her classes for cheap at a junior college and transferred them and is about to graduate with no student loans. She’s young and jealous of her friends having “real” college experiences, but I keep reminding her that she will definitely have the better experience later.
Re: Brittany: Tufts grad, owes $118,000
June 16, 2018
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happyhiker
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craftyzits
College today is a venture strictly for the rich. The rest will become debt slaves regardless of the field they enter.

Not true. A person can still go to the bargain-basement university I went to and not go into debt.

You also could get a full-time job at any university and take advantage of its tuition benefit. I am getting my PhD for the cost of books only -- 100% tuition covered.

And, there are a number of private American universities that cover tuition 100% such as Cooper Union. Finally, you can always study in Canada or another country where tuition is covered or much lower than U.S. colleges.
Re: Brittany: Tufts grad, owes $118,000
June 16, 2018
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quiltergirl
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happyhiker
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craftyzits
College today is a venture strictly for the rich. The rest will become debt slaves regardless of the field they enter.

Not true. A person can still go to the bargain-basement university I went to and not go into debt.

You also could get a full-time job at any university and take advantage of its tuition benefit. I am getting my PhD for the cost of books only -- 100% tuition covered.

And, there are a number of private American universities that cover tuition 100% such as Cooper Union. Finally, you can always study in Canada or another country where tuition is covered or much lower than U.S. colleges.


And you can get most of the books for real cheap on amazon (unless the instructor orders a "new addition") but using amazon will save u a bucket load of $$ when it comes to books.
Re: Brittany: Tufts grad, owes $118,000
June 16, 2018
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quiltergirl
And, there are a number of private American universities that cover tuition 100% such as Cooper Union.

Cooper Union in New York city began charging tuition a few years ago. Now the cost is over $40,000, though this is offset by financial aid for selected undergrads.

The problem with the Tufts grad's loan balance is that, like so many others, she went six figures into debt for a fluff degree that has little or no value in the real world, especially among employers. The dirty little secret is that students take liberal arts and certain other majors because these are seen as easy ways to get a bachelor's without too much studying and with lots of time for partying. At ages 18–21 many people tend to make quick-and-easy, shortsighted, stupid decisions. Massive debt for a worthless major that allows loads of fun time is one such.
Re: Brittany: Tufts grad, owes $118,000
June 16, 2018
Quote
quiltergirl
Meet Brittany, a Tufts alum who studied drama and communications and owes $118,000 in student loans. For someone who went to such a prestigious U, she sure was an idiot when it came to understanding the consequences of her decision. https://www.youtube.com/watch?v=r7JcHz6ucyI



That's cute that she's calling her Senator to discuss what "the government" (ie., the taxpayers) can do to "reform" (ie., forgive) her student loans.

Why should other people be forced to pay for this?

What about the rest of us who were too risk-averse to attend Tufts, major in something ridiculous, and take out what amounts to a mortgage for a 3 bedroom home to pay for it? Why are WE responsible?!?
Re: Brittany: Tufts grad, owes $118,000
June 16, 2018
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kman
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quiltergirl
And, there are a number of private American universities that cover tuition 100% such as Cooper Union.

Cooper Union in New York city began charging tuition a few years ago. Now the cost is over $40,000, though this is offset by financial aid for selected undergrads.

The problem with the Tufts grad's loan balance is that, like so many others, she went six figures into debt for a fluff degree that has little or no value in the real world, especially among employers. The dirty little secret is that students take liberal arts and certain other majors because these are seen as easy ways to get a bachelor's without too much studying and with lots of time for partying. At ages 18–21 many people tend to make quick-and-easy, shortsighted, stupid decisions. Massive debt for a worthless major that allows loads of fun time is one such.

This reminds me of a joke I heard (maybe one by Jackie Mason) about what to major in, back when I was in college in the 1980s.

"Philosophy majors can't get jobs...…….but at least they know why!" LOL
Re: Brittany: Tufts grad, owes $118,000
June 17, 2018
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kman
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quiltergirl
And, there are a number of private American universities that cover tuition 100% such as Cooper Union.

Cooper Union in New York city began charging tuition a few years ago. Now the cost is over $40,000, though this is offset by financial aid for selected undergrads..

They are going back to tuition free. Here is a list of colleges that do not charge tuition or waive it for low to moderate income families: https://www.nonprofitcollegesonline.com/free-colleges/ And there's always the military academies. Plus, there still is a ton of free money available if you go to a state school. Bottomline: You don't need to go into $100,000 in debt to get a good college education.
Re: Brittany: Tufts grad, owes $118,000
June 17, 2018
Slightly off topic but I'm thinking of going to university to do a language degree that also studies the history, culture and politics of the country. I never got the chance to go into higher education when I was younger. All this talk of 'fluff' degrees is making me wonder if I'm making the right decision.
Re: Brittany: Tufts grad, owes $118,000
June 17, 2018
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lurker-derp
Slightly off topic but I'm thinking of going to university to do a language degree that also studies the history, culture and politics of the country. I never got the chance to go into higher education when I was younger. All this talk of 'fluff' degrees is making me wonder if I'm making the right decision.

This is the advice I give to younger people about higher education: If you want to go into a field that requires some kind of licensure (e.g. medicine, the trades) or where the degree is proof of an ability to do a skill (e.g. engineering), then get your education the cheapest way possible. Go to a junior or vocational college and transfer to a university as necessary. No one cares where you got your nursing or electrical engineering degree. I got my degree from Bumfuck U and held the same jobs as people from MIT with the same pay. Do not get loans.

The exception to the above rule is if someone else (i.e. parents, scholarships) will foot the bill. In that case, go to the most prestigious university you can and make the most of analog connections and networking.

If you want to study the humanities or the social sciences (unless you are going into counseling or something, in that case it’s a license), do it on your own for free. Lots of universities (including MIT and Yale) are putting their class lectures online for free. Watch the lectures and read all you can. There are plenty of free and inexpensive options for learning what you want to learn without paying through the nose. If you intend to use your acquired language skills as your vocation, typically you will be required to demonstrate proficiency instead of producing a diploma. Especially in the humanities, not only will a degree be a waste of money, but time as well. For example, you will not only be required to navigate the university’s beurocracy, but also take courses like physical education, psychology and botany in order to fulfill your degree requirements. If you require the classroom setting, most colleges will let you audit courses at a greatly reduced rate as well.
Re: Brittany: Tufts grad, owes $118,000
June 17, 2018
Quote
lurker-derp
Slightly off topic but I'm thinking of going to university to do a language degree that also studies the history, culture and politics of the country. I never got the chance to go into higher education when I was younger. All this talk of 'fluff' degrees is making me wonder if I'm making the right decision.

I would say: what is your motivation for attending school? If you wish to acquire knowledge on the topic of your choice systematically, university is a good choice. Self-study is great for pursuing topics of personal interest, but it has the drawbacks of allowing you to more easily avoid parts of the discipline which aren't of as much interest, and it is also difficult to gain an overview, such that you often don't know what you don't know. Self-study also lacks the opportunity for interactions with others in the field. On the other hand, self-study is free and lets you see just how motivated you are. If you are doing it for personal fulfillment, the only relevant questions are "Do you have the time and money to invest in the pursuit?" and "Is self-study insufficient for my purposes?"

If your goal is not just to pursue knowledge in a structured way, but to enhance your employment prospects, you need to take a more critical approach toward study. I would recommend that you search for job advertisements for the type of job you want to have. Look at what skills/degrees are required, and determine if your proposed course of study would help you get from where you are now to the kind of job you want. Also look at the salaries which are advertised, to see if it is worth investing your time and money to get there. Finally, do some research to find out what percent of graduates with the degree you are considering are employed, and employed in the field they studied. These steps will help you decide if it is practical to pursue the degree.

In my experience, older adults who are returning to school tend to get more out of it. They have opportunity costs, and are often paying for it themselves. They are more focused and know what they want, and aren't distracted by socializing. Going back to school can work out, if your expectations are realistic and aligned with what a university can offer.
Re: Brittany: Tufts grad, owes $118,000
June 17, 2018
The only liberal arts (Bachelor of Arts) degree worth pursuing in English nowadays.

https://www.evaluationengineering.com/got-english-majors.php

Careers like engineering, IT are in high demand and the latter usually requires certification which can be achieved in only a few years time.

Trade schools are another good option.
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