4 ms·

10% interest that doesn't go away. At 10% interest it would take 18 years to repay a 200k loan at $2,000/month if you never missed a payment or had any penaltie

10% interest that doesn't go away. At 10% interest it would take 18 years to repay a 200k loan at $2,000/month if you never missed a payment or had any penalties.

mixedCase 10y ago
200k loan? What in the everloving f... If you were to move to my country, Uruguay, and pay for rent, normal expenses and private education for 7 years (Comp. Sci. being 4-5yrs) you still would barely be above half that amount of money. Why do you guys pay that much for a degree? Just haven't considered moving (and I don't mean here, I'm pretty sure there are many other countries in a similar or better situation) or is it something else?
- gamegoblin 10y ago
  Most public universities will be 20K on the low end and 60K on the high end for a degree. It's when you get to private universities that you see 200K+ degrees.
  - x0x0 10y ago
    20k on the low end? Where is charging $5k/year only? Berkeley is $14k, ucsd is $13.5k, UW Madison is $9k, georgia tech is $10k, ohio is $10k, minnesota is $10k (all costs in-state.) I think a more reasonable budget is $25k/year on the low end: tuition, books (often $500-$1k/semester in engineering or similar programs), food, rent, etc. In CA if you live close to a community college, you can do the first two years for much less money and live at home, but we have perpetual budget crises so you will probably have to waste an extra year because you'll have a hard time getting into classes.
    - gamegoblin 10y ago
      I was only describing tuition, not cost of living. And took into account taking advantage of community college for all the prerequisites you can. That said, my undergrad in Arkansas was probably only 15K/year with cost of living included. I had friends who paid < $200/mo for rent. Location, location, location.
      - x0x0 10y ago
        The numbers I posted are tuition only. Even U Arkansas tuition/fees are $8.5k/year. Two more thoughts: 1 - whether you have access to inexpensive public education also wildly varies depending on where your parents live; 2 - Universities w/ better rep makes it far easier to get those first 1-2 jobs. After that it matters much less, but a great univ will open doors for the rest of your career.
    - phil21 10y ago
      > minnesota is $10k Do you have a source for this? Considering I've been looking at in-state MN costs for a couple years now, that's absurdly low. Current costs for in-state attendance including everything reasonable you would expect (aka fees) is more along the lines of $25k/yr then of course add in your daily living expenses on top of it. This of course assumes you will be living on-campus. Even if you assume free rent and free food, you are talking $15k/yr for tuition and books alone.
      - x0x0 10y ago
        sorry, was discussing tuition only. source: table on top of this query https://www.google.com/search?q=minnesota+tuition&oq=minnesota+tuition https://www.google.com/search?q=minnesota+tuition&oq=minneso... also, I read the 3rd row instead of the second; 3rd (room and board) says $10k, 2nd row says $14k in-state tuition. Sorry to get your hopes up =P
- damptowel 10y ago
  I fell out of my chair when I heard what US students pay. It's pure predatory ponzi finance really. Worst, people spin morality plays out of it, without ever doing the math or looking at systemic flows and going... 'hmmm maybe all this talk about personal responsibility and fortitude is completely irrelevant in the face of systemic unsustainability'

10% interest that doesn't go away. At 10% interest it would take 18 years to repay a 200k loan at $2,000/month if you never missed a payment or had any penalties.

mixedCase 10y ago

200k loan? What in the everloving f... If you were to move to my country, Uruguay, and pay for rent, normal expenses and private education for 7 years (Comp. Sci. being 4-5yrs) you still would barely be above half that amount of money. Why do you guys pay that much for a degree? Just haven't considered moving (and I don't mean here, I'm pretty sure there are many other countries in a similar or better situation) or is it something else?

gamegoblin 10y ago
Most public universities will be 20K on the low end and 60K on the high end for a degree. It's when you get to private universities that you see 200K+ degrees.
- x0x0 10y ago
  20k on the low end? Where is charging $5k/year only? Berkeley is $14k, ucsd is $13.5k, UW Madison is $9k, georgia tech is $10k, ohio is $10k, minnesota is $10k (all costs in-state.) I think a more reasonable budget is $25k/year on the low end: tuition, books (often $500-$1k/semester in engineering or similar programs), food, rent, etc. In CA if you live close to a community college, you can do the first two years for much less money and live at home, but we have perpetual budget crises so you will probably have to waste an extra year because you'll have a hard time getting into classes.
  - gamegoblin 10y ago
    I was only describing tuition, not cost of living. And took into account taking advantage of community college for all the prerequisites you can. That said, my undergrad in Arkansas was probably only 15K/year with cost of living included. I had friends who paid < $200/mo for rent. Location, location, location.
    - x0x0 10y ago
      The numbers I posted are tuition only. Even U Arkansas tuition/fees are $8.5k/year. Two more thoughts: 1 - whether you have access to inexpensive public education also wildly varies depending on where your parents live; 2 - Universities w/ better rep makes it far easier to get those first 1-2 jobs. After that it matters much less, but a great univ will open doors for the rest of your career.
  - phil21 10y ago
    > minnesota is $10k Do you have a source for this? Considering I've been looking at in-state MN costs for a couple years now, that's absurdly low. Current costs for in-state attendance including everything reasonable you would expect (aka fees) is more along the lines of $25k/yr then of course add in your daily living expenses on top of it. This of course assumes you will be living on-campus. Even if you assume free rent and free food, you are talking $15k/yr for tuition and books alone.
    - x0x0 10y ago
      sorry, was discussing tuition only. source: table on top of this query https://www.google.com/search?q=minnesota+tuition&oq=minnesota+tuition https://www.google.com/search?q=minnesota+tuition&oq=minneso... also, I read the 3rd row instead of the second; 3rd (room and board) says $10k, 2nd row says $14k in-state tuition. Sorry to get your hopes up =P
damptowel 10y ago
I fell out of my chair when I heard what US students pay. It's pure predatory ponzi finance really. Worst, people spin morality plays out of it, without ever doing the math or looking at systemic flows and going... 'hmmm maybe all this talk about personal responsibility and fortitude is completely irrelevant in the face of systemic unsustainability'