Student Loans

This is a discussion on Student Loans within the A Brief History of Cprogramming.com forums, part of the Community Boards category; Well, it is the end of another tough student year. I guess it will be loan time again soon. I ...

  1. #1
    Much older and wiser Fountain's Avatar
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    Student Loans

    Well, it is the end of another tough student year. I guess it will be loan time again soon. I cannot ABIDE the thought that I will be forced to pay all these loans back! I know the government are looking INTO it (yeh, right), but it will be too late then.

    In the old days, GRANTS were available which in todays money equate to GBP £6500.........Yes I did spend ages working this out!

    How can this be fair? I work 40 hrs a week in summer/Xmas and 2 days a week term time.

    I dont want to bum of society like the benefit seekers-who of course dont have to pay it back-I just want some help.

    Is there anything wrong with this? Bearing in mind the hours I work, the mortgage I have to pay and all my usual bills? I am a mature student and have always had job before going to University...maybe I could have some of my tax back!

    And of course you know how long you can spend working with C++ is there enough hours to study and work?
    Last edited by Fountain; 06-04-2002 at 04:55 PM.
    Such is life.

  2. #2
    The Earth is not flat. Clyde's Avatar
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    You think it's bad now, wait until they introduce real fees, not the paltry £1000 we pay now.

    It sucks, but it's going to happen because British universities are falling behind, sure the Russel group are comparable the top US universities, but generally speaking, higher education is suffering from chronic under-funding.

    There is no easy solution, loans are only the beginning, just thank your lucky stars your not 10-15 years younger.

  3. #3
    Much older and wiser Fountain's Avatar
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    Well to be honest its not the fees. I dont pay the fees as my income is under £17000. Well its a god damn lot less lol. The problem is what I can live on.....But now its a loan not a grant...In essence I will be in debt to the tune of £10,000 when I leave Uni.....Is that right?
    Such is life.

  4. #4
    The Earth is not flat. Clyde's Avatar
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    It might not be "right" but there is no alternative. In the US they pay much more than that for Uni.

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    Much older and wiser Fountain's Avatar
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    they pay more? Have you worked this out correctly-like taking into account the utterly low price of petrol, consumer goods etc. Do the ppl in US not set up trust funds for their kids educations etc? They do not leave in debt to the tune of £10,000. Sure that puts the onus on the parents, but in the UK we pay a FORTUNE in tax, vat etc etc. All the cigarrettes and beer I have bought will have provided enough duty to pay for my whole street to go to Uni !!
    Such is life.

  6. #6
    ¡Amo fútbol!
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    Lets see. Average college in the US for a private school is around 25-30 thousand dollars. I heard that Yale costs around 40 thousand. If you are going to med school or are going to get your Phd, tack on another 10-20 thousand. Bascially, by the time you get out of college, you owe a ****load of money, even if your parents have set up a big trust fund.

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    Much older and wiser Fountain's Avatar
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    Maybe (not convinced)....I know how much the local education authority in england pays to the University for my tuition fees, and i can tell you in no certain terms that it is NO WHERE near the above mentioned $40k. In fact, if it was , my Uni would have gold plated Pc keyboards. So you see, the two countries are not comparable......So can we have replies about MY original post? Like from an MP or something? And it is the ethics as well-I mean, come on...Loans..


    My inside knowledge of the LEA comes from a member of staff, If any UK Lecturers wish to dispute this (I am sure you won't), feel free
    Such is life.

  8. #8
    The Earth is not flat. Clyde's Avatar
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    It's true the Americans pay ton loads for their universities, thats why American universities are so well off financially and why they are pulling ahead of all but the top British uni's.

    On the flip side because American Uni's have so much cash they offer vast numbers of scholarships, and grants, for people to take advantage of.

    Loans aren't so bad, they have zero interest (other than inflation) and you basically pay them back over your entire life, which means you don't feel them much. Like i said what's the alternative? Let England's higher education slip into the mud? Or maybe wack up taxes? Meaning instead of you paying for your education, you pay part and other people who aren't getting a higher education pay too.
    Last edited by Clyde; 06-04-2002 at 06:00 PM.

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    Banned Troll_King's Avatar
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    I have a job that allows me to get some studying done while I work. I work 4 days a week, but on 2 of those days, I can sit back and study for about 6-7 hours straight, with little or no interruption. The way I did it, is that I started as a full time student and completed about half the courses, than I started working and cut back on my schedule. I make much more money than I have to pay out for tuition. It allows me to have stuff like a notebook computer, a nice truck, and loads of the best books. I'm starting to get old though, I'm not too old yet, but I'm getting there, and I will want to graduate within a couple years (2). In total I'll be there about 5 years when it is all done. I don't have any kids or things that might hold me back or put extensive demands on me, so I can take it easy. When I finish up I will not have anything like a student loan, but instead I'll have a network of good computers and a few thousand bucks in the bank which I might want to use to start my own business. My parents helped me out initially but I pay my own way now. There are a lot of people who are jealous but why didn't there parents save a dime? I don't think that it's my fault that my parents have money.

  10. #10
    Just because ygfperson's Avatar
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    as an american citizen still in high school, i'm [sarcasm]just a little bit[/sarcasm] shocked on what i'll need to pay. i have $10 to my name right now.

  11. #11
    Banned Troll_King's Avatar
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    If you start off at school full time, than it will be easier to get a job as a student. Keep going to school and scale back if you need to but work and pay for it.

  12. #12
    Registered User skyline's Avatar
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    Originally posted by golfinguy4
    Lets see. Average college in the US for a private school is around 25-30 thousand dollars. I heard that Yale costs around 40 thousand. If you are going to med school or are going to get your Phd, tack on another 10-20 thousand. Bascially, by the time you get out of college, you owe a ****load of money, even if your parents have set up a big trust fund.
    you forgot to mention that's an annual cost as well. i got one more year to go at a private school and by the time i graduate i'll be about 60k usd in debt. Not to mention about 40k usd in cash i paid while in school, so my education costs a little over 100k usd. my opinion? go to a public school!

    by the way as far as a phd goes, many times the tuition is free. just as long as you help out with teaching and research.

  13. #13
    Banned Troll_King's Avatar
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    When they give you the degree, I'm sure that the Dean of the department is going to thank you for buying him a new house, or at least most of a house.

  14. #14
    Still A Registered User DISGUISED's Avatar
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    I go to a private university. What a lot of people forget is that federal money, such as grants and scholarships, for private schools is held separately from money for public schools.

    Being a full time student, I don't work full time, so I only make around 25,000 dollars a year. The less money you make the more the government will help you. Different states have different programs. The state of Illinois pays half of my $4900/per semester tuition with the MAP grant program. The other half I get in federal loans, which also covers all of my books. In the two and a half years I have been in school, I have paid $318 dollars out of my pocket. When I graduate, I will have to pay around $150 a month and I have 20 years to pay the loans off. I don't think that is bad at all considering I will make between 55,000 - 70,000 a year my first day out of school (depending on what I want to do).

  15. #15
    Nosepicker DrakkenKorin's Avatar
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    Originally posted by DISGUISED
    ... I will make between 55,000 - 70,000 a year my first day out of school (depending on what I want to do).
    Don't count your chickens before they hatch!

    Have a friend who has a BS in CS and can't find a job. He has resume's everywhere and is/was a rather gifted student (3.89 GPA). He was under the same assumption (not that you are assuming DIS), that he would be making over $50K a year once he graduated. O sure he had job offers when he graduated, all starting at about $30K. He said he was waiting for the $55K offer off the bat. I told him that he probably wouldn't get it, but if he took the $35K offer, he could probably get his $55K in, at most, 2 years. Well he decided against it.

    He is now doing Tech Support for the local RR office, getting paid about $10.00 an hour.

    Now, if you have already signed an employement contract stating that when you graduate you will be employed and making $55K - $77K ... Congrats! If not, remember these words:

    Just becuase the going rate at the moment is high, there are no guarantees that they will remain that high in the future, unless you're graduating today.

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