7 years of school on to 20 years of debt.

[titanic3]

Part of the problem is the huge pressure on college-bound teens to enroll in a top Ivy League school. There's still the air of thinking that if you don't go into a good/expensive school, you won't be able to get a job. Problem is so many teens are pressured into paying for expensive colleges that they end up in debt for 20 years +. It was true a few decades ago where education differed greatly between community college and Ivy League, but now, even the community college teaches just as well as rather expensive school.

[NatCigg]

Now do what your daddy did, get a job.  Thats why you went to school, right? 

If it takes your entire working years to pay off your education, maybe you choose the wrong carear path.   

Good Luck, the fun is just beginning. 

 

[NatCigg]

$35 an hour is a really nice job in America Zack lol. I wouldn't know what to think if I landed that. The place where I put in my resume for my career path tops out at $28/hour with great benefits. Starting pay is 19.25/hour.

Thats 40gs to start. with 14 hours per working day and two days per week OFF (and benefits), to start.

A smart guy could pay off a 100k debt in 4 years with that much income. 

at 58k per year you can buy a house, have kids, and retire when your hip gives out.  Not a bad gig for a human. 

at 72k per year you can buy things you dont need or give money to your spoiled kids. 

[RotBaron]

Two words: Dave Ramsey


Give his radio show a call, then enroll in one of his classes, then get his books. If you're really talking about that much and that long it'll be worth it.

Yes he makes money off you, and no he doesn't try hide the fact that he does. Ask your local/favorite financial planner if they like Dave, I'd be shocked if they say they don't like his ideas. You won't agree with everything, take what you want leave out what you don't.

Good luck.

[Easyscor]

Now do what your daddy did, get a job.  Thats why you went to school, right? 

If it takes your entire working years to pay off your education, maybe you choose the wrong carear path.   

Good Luck, the fun is just beginning. 

 

Right Nat, it's all because I don't want to pay my tuition, hourly fees plus those extra 'fees', assessments and loans. That's why I take the stance I do: All those 'fees' for Higher Education should be free. An education by the way I don't and won't need at my age.

hehe, Yep Nat, I want you keep working and paying into Social Security. I know, with so many able bodied people making minimum wage they're not much help with the burden, but hey, they must be stupid anyway, right?

So yeah, keep paying in. I'm over sixty five and I do appreciate your efforts to shore up the fund while all those stupid people loaf. I really really do, but it's a shame you can't get some help with the bill. Oh, and unless public policy changes come in the very near future, I'm sorry, but it looks like there might not be anything left in the kitty when it comes your turn to retire. Perhaps it will kick in again by the time you reach your declining years.

As for me having fun, I'm having one of the best times of my life. I hope you and the OP can say the same when you get to be my age.

[eagl]

I highly recommend attending a Dave Ramsey "financial peace university" course.  They're usually taught for free at various places including churches or other open private facilities, and all you pay for is the workbook and study materials ($80-$120ish depending on specials).  The course is 100% gimmick free, based on sound financial advice and a realistic common sense approach to finances.

Dave's students on AVERAGE are debt free including their home mortgage in only 7 years, without relying on a single gimmick or investment trick.  If you follow his step by step approach, there is no reason you couldn't retire early as a millionaire.  The only sacrifice is having to live cheap for a couple of years and follow a budget, after which you basically end up with more money than you can realistically spend.

His whole "thing" is that you live on a tight budget until you are debt free, pay cash for everything you want to do from then on, and along the way you accumulate wealth until you can't help but start giving it away to charity.  Thing is - it works, without a single trick or gimmick.  You can change your entire life by simply living on the tightest budget imaginable until you have zero consumer debt except your house, usually only a couple of years even for people with big student loans.  One caller to his show today paid off $95,000 in 26 months, including $60,000 in student loans.  His approach WORKS, mostly because you track every dollar in and out of your pocket so every single dollar goes to a pre-planned purpose.  Do that for a few years and suddenly you have a lot of extra cash and no debt.

[phatzo]

I'm busy accumulating a large accounts receivable balance from my three kids for all their school fees.

$18k per year for two of them and $40k a year for the third.

It's a big number.  

They are 9, 12 and 14.  It's going to be a REALLY big number by the time they are done.  None of them are anywhere near college.

Curvy that's insane, I'm squeaking about $30 each a day for day care for the three little ones. Lucky they only go once or twice a week.

[guncrasher]

Thats 40gs to start. with 14 hours per working day and two days per week OFF (and benefits), to start.

A smart guy could pay off a 100k debt in 4 years with that much income. 

at 58k per year you can buy a house, have kids, and retire when your hip gives out.  Not a bad gig for a human. 

at 72k per year you can buy things you dont need or give money to your spoiled kids. 

really, please do explain how making 40k a year will allow you to pay 100k in 4 years, I mean without getting a second job that makes another 40k, and taking care of such needless things as food, gas, rent, insurance...


semp

[dedalos]

really, please do explain how making 40k a year will allow you to pay 100k in 4 years, I mean without getting a second job that makes another 40k, and taking care of such needless things as food, gas, rent, insurance...


semp

probably followed eagls free seminar that cost 120$ but they are free 

[Triton28]

I highly recommend attending a Dave Ramsey "financial peace university" course.  They're usually taught for free at various places including churches or other open private facilities, and all you pay for is the workbook and study materials ($80-$120ish depending on specials).  The course is 100% gimmick free, based on sound financial advice and a realistic common sense approach to finances.

Dave's students on AVERAGE are debt free including their home mortgage in only 7 years, without relying on a single gimmick or investment trick.  If you follow his step by step approach, there is no reason you couldn't retire early as a millionaire.  The only sacrifice is having to live cheap for a couple of years and follow a budget, after which you basically end up with more money than you can realistically spend.

His whole "thing" is that you live on a tight budget until you are debt free, pay cash for everything you want to do from then on, and along the way you accumulate wealth until you can't help but start giving it away to charity.  Thing is - it works, without a single trick or gimmick.  You can change your entire life by simply living on the tightest budget imaginable until you have zero consumer debt except your house, usually only a couple of years even for people with big student loans.  One caller to his show today paid off $95,000 in 26 months, including $60,000 in student loans.  His approach WORKS, mostly because you track every dollar in and out of your pocket so every single dollar goes to a pre-planned purpose.  Do that for a few years and suddenly you have a lot of extra cash and no debt.

Absolutely sound advice but oh so hard to follow.  Dave would not permit a $500 joystick for Aces High.  

Read an account of a follower of his that spent 5 years living in a garage apartment owned by some old lady.  The couple "paid" rent by keeping the woman's yard and house up.  They made $80k a year but lived on $30k.  At the end of 5 years they stroked a check for a $200k house and $50k to decorate it.

Smart but takes will power. 

[zack1234]

Wise of them to use the money that way.

How do you explain the astronomical number of engineers graduating in China and India?

China and India have lots of engineers because they are doing all the engineering jobs for 1/10 of the price.

They are doing all the engineering jobs because all the "WESTERN"  investment companies have moved manufacturing there to maximise profits for daft greedy "WESTERN" people with portfolios

Lets keep it simple like me, investment companies invest where they get maximun profits regardsless if they are American,  the American worker will have to work fir $1 an hour to compete with the investment companies choice

[Easyscor]

China and India have lots of engineers because they are doing all the engineering jobs for 1/10 of the price.

They are doing all the engineering jobs because all the "WESTERN"  investment companies have moved manufacturing there to maximise profits for daft greedy "WESTERN" people with portfolios

Lets keep it simple like me, investment companies invest where they get maximun profits regardsless if they are American,  the American worker will have to work fir $1 an hour to compete with the investment companies choice

What do engineer's payscale have to do with the number of engineers they are turning out? Absolutely nothing. They are making sure they have an educated population to compete in the twenty first century. If it keeps on this way, American workers will be the ones making $1 an hour while the research and design jobs are done in China and India, and that's something I hope I won't see in my lifetime.

[RotBaron]

Absolutely sound advice but oh so hard to follow.  Dave would not permit a $500 joystick for Aces High.  

Read an account of a follower of his that spent 5 years living in a garage apartment owned by some old lady.  The couple "paid" rent by keeping the woman's yard and house up.  They made $80k a year but lived on $30k.  At the end of 5 years they stroked a check for a $200k house and $50k to decorate it.

Smart but takes will power. 

Dave probably would not permit $500 for a stick, no. But he'd say what are the other parameters of the budget. It's all relative and he'd probably say, what can said person get away with? What are the other sacrifices that could be made to (say) go for a$250 stick? 

The point you make is probably every financial planners and Dave's too; discipline is necessary to get out of debt...

[zack1234]

What do engineer's payscale have to do with the number of engineers they are turning out? Absolutely nothing. They are making sure they have an educated population to compete in the twenty first century. If it keeps on this way, American workers will be the ones making $1 an hour while the research and design jobs are done in China and India, and that's something I hope I won't see in my lifetime.

Your reply is sarcasm?

Tell me your reply is not serious

You know that "AMERICAN" investment companies invest in China and India, please tell me your winding me up

[NatCigg]

really, please do explain how making 40k a year will allow you to pay 100k in 4 years, I mean without getting a second job that makes another 40k, and taking care of such needless things as food, gas, rent, insurance...


semp

live like you do when you made 10k per year.

YW

Nat