<p>I plan on going to a state school where the tuition is about 5500 a year, however to my dismay my efc was EFC a little over 30k (though not surprising). Obviously my parents can afford to pay off my tuition each year and i have recieved word from the financial aid at the school (uni of washington) that of course i only qualified for unsubsidized stafford loans and PLUS loans. My parents are pretty much set on taking out these loans even with the interest rate because they think after i graduate i can find a job where my employer will be willing to pay off my loans for me. I found this a little incredulous. So my dilemma is should my family take out loans for my college education? (i plan to major in bioengineering and go on to med school so the chances of me getting a full-time job are slim)</p>
<p>Iducky</p>
<p>If you and your family didn't take out the loans, is there another way you and your family can pay for college?</p>
<p>FresnoMom:</p>
<p>oh yeah defintely, my parents make enough to cover me for undergrad but what i mean is they want to take out loans in hopes that I will get a job after i graduate where my employer will be willing to pay these loans off for me. Basically they just want to save themselves some money but by no means would it be a huge burden if they had to pay it on a quarterly basis.</p>
<p>I was under the impression that employers don't generally pay off your student loans. Many employers will pay for your MBA (both my parents had theirs paid for). But I don't think they will pay off your outstanding loans.</p>
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My parents are pretty much set on taking out these loans even with the interest rate because they think after i graduate i can find a job where my employer will be willing to pay off my loans for me.
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<p>With the exception of becoming a teacher and then teaching in a really underserved area, your employer will not be paying off your loans. Even as a teacher (my sister is a new teacher) she is applying for 3000 in debt reduction over the next 3 years.</p>
<p>In my all my years in HR working in corporate america, I can tell you first hand that employers only pay for undergraduate degrees for * their current employees * and even then it usually must be job related. Most companies are now requiring a serive commitment if they pay for your degree (I have completed 2 masters courtesy of my employer). My company requires 2 years for an Undergrad degree, 3 years for a masters, and 5 years for a PhD (which has to be approved by the head of our division) </p>
<p>You are in a really good position if your parents are in the position to pay for your education I hope they will, because undergrad debt along with med school debt is going to leave you really limited in your life choices.</p>
<p>they are probably thinking of companies like Boeing which do have incentives for further education- however you need to already be working there.
Learning Together Program
You may want to expand your knowledge outside of what's available at Boeing. That is why we created the Learning Together Program. Under this program, Boeing will pay for tuition and many related expenses - including application fees, entrance exams, books, and graduate fees - for employees enrolled in accredited colleges, universities or trade schools. Employees who complete degrees are eligible for Boeing stock awards.
Even the govt programs which used to give students a way to have loans forgiven have been slashed.
If you have the money- just pay it-$5,500 for tuition is a bargain :)</p>