Looking for an opinion. If Biden forgives all student debt, can I sue for a refund of the $400,000
in college costs I paid personally for my daughters?
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Level 1
Near the end of the attached article the author compares college education to health care...and uses
countries within the EU as examples...i.e. both are looked at as services, and both have government oversight/rules. Furthermore, it highlights the delta costs for both Education and HC between the EU and theU.S...2X more in the U.S. for both.
With costs here continuing to increase without an end to the acceleration in sight, it seems to me that the "Status Quo" is no longer an option. While any other alternative (a'la the EU model) is likely to set off "Socialism" alarms, it seems that some degree of external controls are required to 'stop the madness'.
A few years ago, my Internist was a Doc trained in Ireland where he paid nothing for his education...all state (taxpayer) funded. He was/is an excellent physician, so no complaints on my end. In Ireland the citizens consider health care an essential service and have no problem seeing their taxes coming back to them for that 'peace of mind'. Now I'm not saying this is the only way to go, but it certainly deserves more than a passing glance.
Link: https://www.theatlantic.com/education/archive/2018/09/why-is-college-so-expensive-in-america/569884/
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Level 1
Should have done what I'm doing - my kids are getting $0
But then again, as Lance likes to point out, I'm a complete financial failure. Unfortunately, he's right.
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Level 2
No one seems to care about the ridiculous cost for an education. Schools
are only concerned with raising endowments, text book deals, building elaborate palaces. They could give a shit how long it will take some of these students to get a job that will allow them to pay this debt burden.
That’s unless the government does it for them. If so, watch how much tuition rises then.
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Level 1
Our oldest daughter is applying to colleges right now.
NDavenue 7489 postsIt is shocking to see the price tags at places like Notre Dame. Not that I didn't know generally how expensive it would be. I just hadn't been paying really close attention recently.
That being said, there are some bargains out there where kids can get a very good education at a reasonable price. I've always said that we wouldn't spend hundreds of thousands of our own money for our kid's college education. The ROI just isn't there.
I don't believe illusions because too much is for real.-
Level 2
Just have her get a meaningful degree that she can be employed with, nothing in social sciences or
other liberal arts.
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Level 3
I have told her that if she majors in a more lucrative field, we would be willing to pay more.
NDavenue 7489 postsShe is pretty much set on majoring in English. She loves it and frankly it's her strength so, I'm good with it (she got perfect scores on the English and Reading sections of the ACT). I'm a supporter of pursuing an area where you have a clear strength.
The big question is what she chooses to do with it. If nothing else, she should do very well as an undergraduate and that will open more doors for graduate school.
I don't believe illusions because too much is for real. -
Level 3
As someone with an engineering degree, it's easy for me to link arms with you on that...but...over
time, I've come to appreciate the softer, non-transactional, side of life. Give me a little latitude here, but to some degree I see all of us "functional types" as merely 'workers' to support the growth and development of those who make 'Humanity' special...i.e. the Arts...and I don't want to see them given 'short shrift'.
Make any sense?
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Level 1
One more article...btw, it's been awhile since our daughter graduated from a private university
(20 yrs ago), and we were able to deal with it...but the debt from multiple graduate programs is only now being 'retired' for her. As most of you know, better than I, the cost for higher education over the last 20 years has far outpaced the rate of wage growth, so it seems that the 'resolution' is not just in "refinancing", or "forgiveness"...any thoughts here?
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Level 2
How is it being "retired?" Is there a time limit that applies and they just drop the remaining
balance?
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Level 3
I should learn how to use emojis here (help welcomed)...the proper parlance is "paid off". But on
the issue of what appears as 'non-linear' college cost increases, I'd like to see more emphasis and 'stamina' applied to finding a way to bringing it under 'control'...can I get an "Amen" on that?
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Level 2
Tuition/room and board, travel, clothes, study aboard, books, etc. About
50k per year for each one. So $400k. It could be more.
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Level 3
I'm currently paying for my daughter's college
In-state tuition at State U is about $10k per year. Room and board another $10-15k. Luckily she's gotten several scholarships so total for 5 years (Covid year has set her back) will be well under $100k.
Guess I didn't realize how expensive out-of-state and private compares.
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Level 4
Yeah, tuition is pretty insane.
There is a group of private universities that are bulletproof...Ivies, Stanford, Duke, ND, Chicago, etc. Smaller ones are struggling.
ND hikes tuition from year to year and doesn’t even send a courtesy message about it. Sorry the bill increased $3,500 this year....nope.
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Level 4
In state Private is just as expensive. My kid is on scholarship for both softball and academic
and still has a balance to pay. 4 years will cost her/us close to a $90k. Great school and she may pick up another year of eligibility since she had a red shirt year or from COVID. That will depend on employment when the time rolls around.
I hold the record for most deleted posts. +145. Favorite posters must be protected!-
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Level 6
Sorry. Local private school in west central Florida. In state for us. So in state private.
We get a small amount for being a Florida resident and her going there but still expensive. Her “dorm life” is a 4 bedroom, 2 bath condo just off campus. Common living room with a full kitchen.
I hold the record for most deleted posts. +145. Favorite posters must be protected!
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Level 2
Huh? ND is 75 grand a year. As are many "safety" schools. Penn State is 55 out of state. $400k is
TakethetrainKnute 35769 posts...not remotely out of line for 2 educations these days.
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Level 3
ND Law is $80K per year with living expenses. $240K total - $45K scholly leaves a $195K nut to pay
after undergrad. You need to get a good job after that.
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Level 4
Damn man. Hell with St Jude looks like the $1k is a better gift for you.
By the way that older kid that does the Shriner Hospital commercials is 46 years old.
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Level 5
I only pay about half of it, he has the rest.
Luckily he had almost a full boat undergrad or he would have really been screwed.
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Level 1
Governments should not be in the business of bailing out anyone's student debt.
It's not like these kids had a sudden, unexpected bill dropped on them after 4 years of college. They knew exactly what the cost was and willfully took on the debt.
What's worse, in the article Tyrone linked to there is mention that many of the people carrying this student debt actually never even completed their studies or got degrees. That's brutal. No way a drop out should get their debt paid off.
Taxpayers shouldn't be on the hook to bail out their bad decisions. If that's the case, maybe the gov't wants to top up your retirement savings plan with some free money too.
I stand with PBHangingChad.....on this one issue.
"I didn't come here to take part. I came here to take over."-
Level 2
Kids because of poor education in high school these days have little concept of costs and how to pay
back? My one daughter is very successful working in DC and after two years has seen her salary go from 57k to 85k at 26 years old. Sounds good but the cost of living is horrendous there. My other kid was laid off due to Covid, cannot find a job right now in her field, so I am a little bitter. By the way the "successful" daughter got no help from the graduate school placement program at ND after majoring in Global Health. She graduated from it with a higher average than all but one in her program. She got job on her own and because of her skills has performed well and she loves ND as do I but the job placement graduate program pales in comparison to the undergraduate business placement program.
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Level 1
Here's some background info...any thoughts/reactions?
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Level 2
I think a better solution would be to have the colleges who "educated" these students knocked off
the 10000 figure by directly paying for the student loans. They are the ones to blame today as so many of their students are unemployable. It should be across the board. Maybe schools should base their tuitions on the success of their academic programs and or usefulness of them. For example, pre med, pre law, business schools that have successful placement history can charge an appropriate amount for that academic education while the liberal arts degrees that really don't put students in a position to succeed financially should only charge maybe half the amount.
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Level 2
Not necessarily if part of the total my girls took student loans. But
their mom and I paid them.
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Level 1
As far as I know, Trump U paid every one back already.
jimbasil 55047 posts(no message)Jack, he is a banker
and Jane, she is a clerk-
Level 2
I’m still going for my Doctorate at Trump U in animal husbandry. Just
in case there is another “B” letter added for certain people. So it will be LGBQTIB.
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End of conversation