Comments on: Postpone College In Order to Pay For It With Cash? http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/ Money Saving Insights: Coupons, Smart Spending and Promotional Codes Mon, 13 Feb 2012 05:38:35 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: –› Credit Card Statements Reinforce Decades of Leverage http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39381 –› Credit Card Statements Reinforce Decades of Leverage Thu, 25 Mar 2010 13:32:02 +0000 http://frugaldad.com/?p=5003#comment-39381 [...] Postpone College In Order to Pay For It With Cash? [...] [...] Postpone College In Order to Pay For It With Cash? [...]

]]> By: Joe http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39338 Joe Wed, 24 Mar 2010 11:56:17 +0000 http://frugaldad.com/?p=5003#comment-39338 This is without a doubt one of the most rediculous and dumbest ideas ever. Under no circumstances should you ever postpone college, especially if you are wanting to do it to avoid debt. Working so hard that you cant enjoy your college years/dont go because you are making decent money will only lead to regret later in life and greatly reduced earnings. Suck it up, take out the student loans, enjoy your college years and pay them down quickly. Going to a community college doesnt hurt to keep debt low but the valuable connections and experiences lost in those two years probably wont be worth it. This is without a doubt one of the most rediculous and dumbest ideas ever. Under no circumstances should you ever postpone college, especially if you are wanting to do it to avoid debt. Working so hard that you cant enjoy your college years/dont go because you are making decent money will only lead to regret later in life and greatly reduced earnings. Suck it up, take out the student loans, enjoy your college years and pay them down quickly. Going to a community college doesnt hurt to keep debt low but the valuable connections and experiences lost in those two years probably wont be worth it.

]]> By: bhleigh http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39325 bhleigh Tue, 23 Mar 2010 21:09:39 +0000 http://frugaldad.com/?p=5003#comment-39325 Very interesting post. I like the idea of going to a community college to knock out the gen eds that most colleges require. another way to look at college tuition is not how much it is but how to get someone else to pay for it without having you go into debt. Look at the military, peace corps, or americorps. The military has the GI Bill, plus a host of other veterans benefits later on in life. The Peace Corps has some scholarships and grants for after you complete your service, plus it gets you out in the world and experience new things. ditto for Americorps. If I could do it all over again, I would have joined the military for three years, used the GI bill to go to community college for gen eds, then transfer to a good school for major specific classes/graduation. I would have graduated with a degree, no debt, 3 years military experience (helpful for resumes), and a whole lot better off fiscally than my fellow grads. just my opinion Very interesting post. I like the idea of going to a community college to knock out the gen eds that most colleges require. another way to look at college tuition is not how much it is but how to get someone else to pay for it without having you go into debt. Look at the military, peace corps, or americorps. The military has the GI Bill, plus a host of other veterans benefits later on in life. The Peace Corps has some scholarships and grants for after you complete your service, plus it gets you out in the world and experience new things. ditto for Americorps. If I could do it all over again, I would have joined the military for three years, used the GI bill to go to community college for gen eds, then transfer to a good school for major specific classes/graduation. I would have graduated with a degree, no debt, 3 years military experience (helpful for resumes), and a whole lot better off fiscally than my fellow grads. just my opinion

]]> By: James http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39324 James Tue, 23 Mar 2010 20:45:00 +0000 http://frugaldad.com/?p=5003#comment-39324 my question is pretty straight forward: what is the real break even point for individuals who have $50,000 or $100,000 of student loans. How much money do you need to make at your job for the first 5 to 10 years to pay off these loans. And does it really pay to be that far in debt to graduate from a school with a fancy name? my question is pretty straight forward: what is the real break even point for individuals who have $50,000 or $100,000 of student loans.

How much money do you need to make at your job for the first 5 to 10 years to pay off these loans.

And does it really pay to be that far in debt to graduate from a school with a fancy name?

]]> By: Tim http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39272 Tim Mon, 22 Mar 2010 02:35:35 +0000 http://frugaldad.com/?p=5003#comment-39272 I think that people need to consider the career that they are going to school for before attending college. $100,000 of student loan debt does no good for someone who will be making $30-40k after school. For a doctor or lawyer, this is another story. Also, plenty of community college, smaller state schools can provide the early education at a much cheaper cost. I think that people need to consider the career that they are going to school for before attending college. $100,000 of student loan debt does no good for someone who will be making $30-40k after school. For a doctor or lawyer, this is another story.

Also, plenty of community college, smaller state schools can provide the early education at a much cheaper cost.

]]> By: sarah http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39268 sarah Sun, 21 Mar 2010 17:03:34 +0000 http://frugaldad.com/?p=5003#comment-39268 I really disagree with a good amount of this post. First, my university handles loan checks in the exact same manner as yours - unlike you, I did pay pack the loans immediately and did not spend an extra penny. Just because you were too immature to understand that you would need to pay back your loan doesn't mean that all 18 year-olds are! I graduated with about 25K in loans - I worked 3 jobs all through school and my master's tuition was $20K which made it hard to pay cash for the master's (almost all the loans are for the master's). However, starting salary was over $50K. I am still in my master's program (last semester) and me and my husband have paid off over $8K of those loans since June (when he graduated!) We will be debt-free by May 2011. I worked 3 jobs all throughout school. I watched my money and made smart decisions. I obviously had more money sense than a lot of students, but honestly, stupid people make money mistakes all throughout life (bad career choice, too much house, no retirement savings, no emergency fund). The fact is that people who don't educate themselves about money, whether they are 18 or 65, will be in a bad money situation. And my parent's never educated me about money at all or said anything about money to me! Also, keep in mind that I had a life-threatening emergency surgery during school that cost about $20K after insurance, which set back my loan payments quite a lot! I really disagree with a good amount of this post. First, my university handles loan checks in the exact same manner as yours – unlike you, I did pay pack the loans immediately and did not spend an extra penny. Just because you were too immature to understand that you would need to pay back your loan doesn’t mean that all 18 year-olds are!

I graduated with about 25K in loans – I worked 3 jobs all through school and my master’s tuition was $20K which made it hard to pay cash for the master’s (almost all the loans are for the master’s). However, starting salary was over $50K. I am still in my master’s program (last semester) and me and my husband have paid off over $8K of those loans since June (when he graduated!) We will be debt-free by May 2011.

I worked 3 jobs all throughout school. I watched my money and made smart decisions. I obviously had more money sense than a lot of students, but honestly, stupid people make money mistakes all throughout life (bad career choice, too much house, no retirement savings, no emergency fund). The fact is that people who don’t educate themselves about money, whether they are 18 or 65, will be in a bad money situation. And my parent’s never educated me about money at all or said anything about money to me!
Also, keep in mind that I had a life-threatening emergency surgery during school that cost about $20K after insurance, which set back my loan payments quite a lot!

]]> By: bigjobsboard http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39266 bigjobsboard Sun, 21 Mar 2010 11:04:41 +0000 http://frugaldad.com/?p=5003#comment-39266 In fact, I was planning about it. postponing college until you have enough cash for i is not bad at all. The only thing that would make you worry is the time wasted that could have been used for education. In fact, I was planning about it. postponing college until you have enough cash for i is not bad at all. The only thing that would make you worry is the time wasted that could have been used for education.

]]> By: TEH http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39262 TEH Sat, 20 Mar 2010 20:06:24 +0000 http://frugaldad.com/?p=5003#comment-39262 I had friends who always got a check from University. It was the 'extra' for living expenses from their loans. I was always a little confused as to why I did not get anything. Turns out that my parents would just subtract from their tuition check this 'extra' amount. All living expenses were mine to cover with the money I earned from my work study and summer jobs. I canceled my first year loans after I received a $5K scholarship at the end of High School. The end result was I graduated with less than $15K in loans, all of which were subsidized by the federal government. I think the decision to attend a school depends on my many factors including the school that you are attending. I was an out of state student at a public university (known as a 'public ivy'). The finicial aid package was one of the reasons I attended that school versus other schools. At the school I attended, my parents and I could pay our contributions without taking out unsubsudized student loans or home equity loans. It cost my parents more for my siblings to attend an in-state public university than for me to attend the school I attended. It cost me more because of the student loans, but I wouldn't have change a thing. The experience I received was worth it. I had friends who always got a check from University. It was the ‘extra’ for living expenses from their loans. I was always a little confused as to why I did not get anything. Turns out that my parents would just subtract from their tuition check this ‘extra’ amount. All living expenses were mine to cover with the money I earned from my work study and summer jobs. I canceled my first year loans after I received a $5K scholarship at the end of High School. The end result was I graduated with less than $15K in loans, all of which were subsidized by the federal government.

I think the decision to attend a school depends on my many factors including the school that you are attending. I was an out of state student at a public university (known as a ‘public ivy’). The finicial aid package was one of the reasons I attended that school versus other schools. At the school I attended, my parents and I could pay our contributions without taking out unsubsudized student loans or home equity loans.

It cost my parents more for my siblings to attend an in-state public university than for me to attend the school I attended. It cost me more because of the student loans, but I wouldn’t have change a thing. The experience I received was worth it.

]]> By: Ken http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39251 Ken Sat, 20 Mar 2010 02:26:27 +0000 http://frugaldad.com/?p=5003#comment-39251 I think the community college route makes sense if you don't have a lot of funds. Paying cash as you go is probably a lot for most folks but hats off to those that do it that way. I also agree with aggressively pursuing scholarships. I think the community college route makes sense if you don’t have a lot of funds. Paying cash as you go is probably a lot for most folks but hats off to those that do it that way. I also agree with aggressively pursuing scholarships.

]]> By: Monevator http://frugaldad.com/2010/03/19/postpone-college-in-order-to-pay-for-it-with-cash/#comment-39248 Monevator Sat, 20 Mar 2010 00:11:58 +0000 http://frugaldad.com/?p=5003#comment-39248 Education, like a lot of things is wasted on the young, the lucky tykes! I was okay with money in college (in fact I left with spare change, setting the scene early!) but I'd appreciate it much more now. I can't hardly believe I had 3 years just to wander about reading up and learning about stuff. I should have appreciated it more at the time, I just felt entitled and bored if I'm brutally honest. Education, like a lot of things is wasted on the young, the lucky tykes!

I was okay with money in college (in fact I left with spare change, setting the scene early!) but I’d appreciate it much more now.

I can’t hardly believe I had 3 years just to wander about reading up and learning about stuff. I should have appreciated it more at the time, I just felt entitled and bored if I’m brutally honest.

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