The student loan crisis: How middle-class kids get hammered

<p>^ exactly my point. My husband & I are both hispanic immigrants from 2 different countries. I myself have being here for 24 years and nobody, no government have given me a penny! My first 5 years I worked as a live-in housekeeper/nanny for 2 doctors working 10-12 hrs a day so I was their everything. I learned the language, I got my GED, I put myself to a CC nights and weekends while I still work (although I didn’t finished). Made a very scary move to a different state (no family to help with 2 young children ages 4 and 1) to follow what I wanted to do and the move paid off!!! We saved to buy our first home, moved to a better second one…
You see??? we like many other people are not jealous of the poor, we just want a little more help to allow our families that contribute huge to this economy and allow our kids a more affordable college education! Even my state public school can cost 20K:( that is ridiculous</p>

<p>Saona63 - you did it on your own! BE SO PROUD OF THAT. That is this country’s way (or it used to be). You proved you did not need help! Your story is SO very inspiring. I am from this country, but I came from a blue collar, lower (at best) middle class background, public schools, with a dad who left, and my mom a waitress her whole “career,” but while in the late 60’s and early 70’s she would have qualified for food stamps, she turned them back in after one time–she wanted to do it herself, and she did. She died 15 years ago, but I am so proud of her moral compass and her dignity, as your family I am quite sure is so proud of you!</p>

<p>Whenever someone shares a story similar to the one that was just told, it just further instills my observation that people really don’t know the story behind a family. You don’t know their background. You don’t know their family history. You don’t know what goes on behind closed doors. </p>

<p>I honestly believe there are a great deal of more people like Saona who worked their way fro the bottom up than people give credit to…</p>

<p>@actingmt I agree. Until we can fix costs in the long term, in the short term it may be necessary to redefine our ideas of who can afford college without assistance. However, that money needs to come from somewhere and we won’t be able to get it as long as we keep wasting our money on things we don’t need like a massive military or subsidies to multinational corporations that don’t need the money and don’t contribute back to our society.</p>

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<p>The classic positive externality requires subsidy to promote consumption to increase the “good.” I think we have plenty of that happening in the education system already. Previous posters call for progressive taxation to increase it even further(to the point where it’s free.) That’s where it derails. </p>

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<p>Seriously? With the most wasteful administration of all time, this is what bothers you as “wasteful spending”?</p>

<p>There is a difference between inefficiency and poor allocation. I agree that anywhere we can make the government run more efficiently, we should do so. However there are some things that we spend money on that are mostly unnecessary and only continue to receive funding because of practices which are dangerously close to outright corruption. </p>

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<p>I agree. That’s why we have publicly subsidized universities in every state. It is in the public interest to fund universities that are accessible to many people. People with limited means should absolutely have universities that are accessible to them. </p>

<p>People are still responsible for whatever debt they take on. I think that SOME student debit is ok. After all people routinely borrow $25K to buy a car. At the end of the day the care is worth nothing. At least with an education you always have an education. </p>

<p>We don’t expect for a handout. I’m not saying that low income families should not send their kids to college, but unfortunately I’ve met so many people that “choose” to stay where they are cause otherwise they loose their federal funding in rental subsidies, food stamps and so much. How much do they contribute to society? I guess they cost the government. But it’s not enough, we need to pay their kids to college funding. I know for sure there are many and many families that need the help and they deserve it, but for the people in this forum who are middle income families, who give back to our economy and society need to not be rewarded but to be acknowledged for their contributions.</p>

<p>That’s funny! I really hope you mean that to be funny. Funny and sad.</p>

<p>@actingmt
Definitely not funny, sure is sad. I’m on this side to see and experience. You know what really is sad?? Many American born that believe I came to take things away from them =(( </p>

<p>My EFC is $28,500. Will I pay that? absolutely not. I will pay state but I refuse to take on loans for that. I said if my son gets accepted to private and he gets good FA and the difference is not huge, then we’ll consider. And yes, I said for him to take loans that wont total more than $35K in a 4 year is ok. </p>

<p>Copied from a different threat</p>

<p>" attended college in fall 2012, dropped out, and haven’t repaid any of those loans. I have decided to return to a different school fall 2014 and have received a full presidential scholarship. I have to fill out the FAFSA to receive this scholarship. Will the unpaid loans I have affect my FAFSA in any way???"
Post edited by bobthebuilder666 at 12:27PM</p>

<p>Well, it should certainly impact their FAFSA if they’ve ignored the first set of loans. Dear, Lord.</p>

<p>sorry, can’t open link</p>

<p>Saona63, what’s weird about what I said (or my attitude)? I really was confused about what you seemed to be saying ie, that for an engineering degree you might be willing to borrow $25-$35k in order for your son to attend a private university instead of your state flagship (University of Florida, right?). I have no idea what private schools you are considering and if you want to have your kid take on debt so he can go to a private school, that’s ok with me. It’s just that unless you are talking about MIT, I don’t understand what advantage there would be for him to get an engineering degree from a private school instead of your state flagship.</p>

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<p>Since you said the above, I can only conclude that you are taking the position that an engineering degree from a private school will be more valuable than an engineering degree from UF even if your S has to borrow money. Do I have that right?
If so, I believe you are very mistaken and you should reconsider burdening him with loan payments upon graduation. He’s very unlikely to be making more money with a degree from a private school than he will from a state flagship.</p>

<p>Niquii, who on earth said that UF is a “public ivy”? Who even thinks that way?</p>

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Florida has it’s downfalls. I can see why someone would want to get out and go for more. There’s more than just expected salary factored into a college decision. </p>

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I suggest you stop by the past forums in the University of Florida page. Then, check the forums discussing the comparison of Florida universities. But first, check out these articles that popped up from the google search “University of Florida public…” and the option “University of florida public ivy” should appear as suggestions. </p>

<p><a href=“http://www.policymic.com/articles/28975/4-top-colleges-just-as-great-as-the-ivy-league-schools”>http://www.policymic.com/articles/28975/4-top-colleges-just-as-great-as-the-ivy-league-schools&lt;/a&gt;
<a href=“http://talk.collegeconfidential.com/university-florida/581823-is-uf-a-public-ivy-league-school.html”>http://talk.collegeconfidential.com/university-florida/581823-is-uf-a-public-ivy-league-school.html&lt;/a&gt;
<a href=“UF ranked as a Public Ivy institution according to college guide - The Independent Florida Alligator”>http://www.alligator.org/news/campus/article_29909fda-fc91-11e1-8d87-001a4bcf887a.html&lt;/a&gt;
<a href=“https://www.princeton.edu/~achaney/tmve/wiki100k/docs/University_of_Florida.html”>https://www.princeton.edu/~achaney/tmve/wiki100k/docs/University_of_Florida.html&lt;/a&gt;&lt;/p&gt;

<p>This is what a public ivy is:
<a href=“Public Ivy - Wikipedia”>http://en.wikipedia.org/wiki/Public_Ivy&lt;/a&gt; </p>

<p>I could go on…and…on…Many people think this way. </p>

<p>I’ve seen other state schools advertise along those lines as well. Both Binghamton and Geneseo in NY.</p>

<p>The UC’s were among the original “public ivies”. I think there was a book with that title in 1980’s. It’s a real thing. Don’t know how much it means,but it exists.</p>

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<p><a href=“Public Ivy - Wikipedia”>http://en.wikipedia.org/wiki/Public_Ivy&lt;/a&gt;&lt;/p&gt;

<p>Yay, for my UC kid. LOL!</p>