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Old 09-01-2010, 07:18 AM   #106
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it's just impossible now to go to school full time and work to pay for your year's tuition.
Not to mention that if you worked during high school as I did and many do to save for college, there are restrictions on how long you can work (child labor laws) which also prevents you from even making a dent in that cost.

I do not think school should necessarily be free, but something's got to give. Phil and I pay twice as much for student loans (he has multiple degrees) than many of my comfortably living co-workers pay for their mortgages each month. The one nice thing is our fabulous credit scores. I've never own a home, a credit card, and didn't owned a vehicle in my name until a year ago but I've been paying student loans since I was 17.
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Old 09-01-2010, 07:25 AM   #107
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I do not think school should necessarily be free, but something's got to give. Phil and I pay twice as much for student loans (he has multiple degrees) than many of my comfortably living co-workers pay for their mortgages each month.
I definitely hear you on that. My master's was paid for with an assistantship. The bachelor's didn't cost me too much (I went at the right time. Tuition has sky-rocketed since.) Yet my doctorate alone is going to put me 6 figures in debt. 6 figures!!!

So yes, I'll be in my early 30s when I graduate, and may have to move back in with my parents for at least another year, much to deep's dismay.
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Old 09-01-2010, 07:44 AM   #108
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this thread has taken a decidedly depressing turn lol.

i reckon i'll be about 247 years old when i finish paying off my HECS
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Old 09-01-2010, 08:33 AM   #109
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I've decided to get a job whilst the market is good (graduate geologists can expect $60,000+) and do my PhD later (probably in my early thirties). I hope to gain financial security that will permit me to devote most of my life to research science. It should also give me experience and maturity to succeed at a doctorate.

My parents, partner and friends have strongly recommended buying property and it seems like a good choice. I just need to do the research over the next two years as I save up a deposit. I don't particularly want to be a slave to a mortgage but I think I can live austerely enough while I'm young to have a stable future.
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Old 09-01-2010, 08:35 AM   #110
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As an Australian, I'm not sure HECS is comparable to US-style student loans. At all. Unless something has changed since the days when I acquired my (relatively modest) HECS debt. I tend to question the hype that surrounds it.
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Old 09-01-2010, 08:41 AM   #111
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Not to mention that if you worked during high school as I did and many do to save for college, there are restrictions on how long you can work (child labor laws) which also prevents you from even making a dent in that cost.
exactly. i started working when i turned 14. i earned just enough to pay for my car insurance and cell phone. i could've worked a little more when i was in high school but i did try to focus on my studies and also tried to have a little bit of a life outside of work.

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I definitely hear you on that. My master's was paid for with an assistantship. The bachelor's didn't cost me too much (I went at the right time. Tuition has sky-rocketed since.) Yet my doctorate alone is going to put me 6 figures in debt. 6 figures!!!
you're right, that's insane. people who want to go into graduate and postgraduate studies should be encouraged. getting a six figure debt just from your phd is ridiculous. the politicians who think this shit's acceptable or the lucky few who can become professional students (while not racking up insane amounts of debt doing it) are out of touch with the real world.
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Old 09-01-2010, 09:06 AM   #112
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Yeah I am not unfamiliar with six figure debt I mean, it's doable and we're fine but it's depressing when you see people in every OTHER situation getting breaks from the government... food, unemployment, incentives for buying a home or a newer car, companies getting bailed out.... um, how about honest, hard working people that got a good education and now have secure jobs? What an idea...
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Old 09-01-2010, 12:31 PM   #113
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My parents, partner and friends have strongly recommended buying property and it seems like a good choice. I just need to do the research over the next two years as I save up a deposit. I don't particularly want to be a slave to a mortgage but I think I can live austerely enough while I'm young to have a stable future.
Ho hum. I have long been of the opinion that the Australian property market was in the last few years, and remains, an enormous bubble.

In any case, contrary to popular opinion, average inflation adjusted real estate returns over the long term are quite modest, only around 1-2% per annum.

If you do buy, make sure it is somewhere that you could live in for the next twenty years - or, if not, at least somewhere that can be rented out with ease, and that the rental payments would at least cover the interest on the mortgage.
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Old 09-01-2010, 12:34 PM   #114
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My university fees in Ireland were the equivalent of around $2,000 per year in the early nineties. Allowing for inflation that's still only around $4,000 per year in today's money.
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Old 09-01-2010, 12:45 PM   #115
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I work for a university, and not all of it is the 20 somethings fault.

Sure there are some who feel they are entitled to a 6 figure job out of school, but most are just struggling to pay off what has become absolutely ridiculous student loan debt. The current Cost of Attendance at my school is over 50K a year. Sure financial aid can be generous but I know people who will be leaving undergrad with over 100K in student loan debt.

Something needs to be done.
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Old 09-01-2010, 01:11 PM   #116
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My university fees in Ireland were the equivalent of around $2,000 per year in the early nineties. Allowing for inflation that's still only around $4,000 per year in today's money.
That's about half of what K-12 cost per kid.
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Old 09-01-2010, 02:11 PM   #117
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I work for a university, and not all of it is the 20 somethings fault.

Sure there are some who feel they are entitled to a 6 figure job out of school, but most are just struggling to pay off what has become absolutely ridiculous student loan debt. The current Cost of Attendance at my school is over 50K a year. Sure financial aid can be generous but I know people who will be leaving undergrad with over 100K in student loan debt.

Something needs to be done.
Financial aid is hardly generous.

I'm in my third semester and already have tens of thousands in debt.
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Old 09-01-2010, 08:53 PM   #118
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Ho hum. I have long been of the opinion that the Australian property market was in the last few years, and remains, an enormous bubble.

In any case, contrary to popular opinion, average inflation adjusted real estate returns over the long term are quite modest, only around 1-2% per annum.

If you do buy, make sure it is somewhere that you could live in for the next twenty years - or, if not, at least somewhere that can be rented out with ease, and that the rental payments would at least cover the interest on the mortgage.
Cheers, I was thinking along the same lines - buy somewhere that I would be pleased to live that is reasonably close to the essentials.
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Old 09-01-2010, 08:53 PM   #119
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I did pretty well financially in school. I had a full ride for four years, so I only ended up taking out a loan for about $15,000 to cover the fifth year I had, when I changed majors. My wife, on the other hand, borrowed $75,000 for her two degrees and we will pay north of $100,000 by the time that and the interest is paid off. I heard something about some loan forgivness program but I don't know how it works.
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Old 09-01-2010, 10:33 PM   #120
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people in their 40s and up should remember a time when a college education could be paid for with summer jobs bagging groceries.
Yes. Absolutely. I wish that were still the case.

College expenses are ridiculous. I'm all for paying a reasonable amount to help get me into school and pay for classes and books and whatnot, that's fine, but nobody should have to be drowning themselves in debt just to pay to go to public universities. If more people felt they had a shot at affording college, I bet you'd see a heck of a lot more of them striving to go. PhilsFan's post about financial aid depresses me .

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i also think that the 20s are a time when you should pursue a dream, if you know what that dream might be, or to search for that dream. but i think, naturally, when you shift into your 30s, the more practical aspects of life take over, and you become more able to work a 9-to-5 that is respectable and funds the rest of your life, and you're fine with that. i just think that many 25 year olds won't be happy feeling as if they've "settled" and would be happier trying to pursue what it really is that they want to do, and even if it doesn't work out, at least they can say that they tried. and then life will take it's course, and the idea of "settling" doesn't quite mean to a 35 year old what it might mean to a 25 year old. there are many, many ways to get through life, and everything is in constant negotiation.

my only advice would be to follow your gut, and to listen to what it is that you *really* want -- whether that's something to help you afford your true passions, or whether your true passion is working very hard for very little money, or if your true passion is not so much the work itself but the feeling of accomplishment in a fast paced environment, or if you've got some hungry mouths to feed and uninteresting but solid work is a mere 5-minute drive from home.
Honestly, you have no idea how comforting and reassuring and inspiring this part of your post is. I really like what you said here, and fully agree with you. My biggest issue regarding my dream is finding the right means to get in touch with people to make it come true. I've joined writing groups in school and had a few things published in class booklets here and there, and have a few stories saved online at various sites, which is certainly a start. I just want to know how to contact people who can help me further my dream (and how to pick the genuine help from the scammers) and things of that nature. I have the motivation, the interest, all that good stuff. I just need the contacts/connections.

Angela
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