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17% is huge, particularly when you consider it within the context of after tax income. $100k salary is $60k or so after taxes in California; take away $17k + re
by GuiA 9y ago
17% is huge, particularly when you consider it within the context of after tax income. $100k salary is $60k or so after taxes in California; take away $17k + rent and food, and you're getting pretty close to paycheck to paycheck living, particularly if the person has loans from a failed college attempt, medical expenses, etc.
They're essentially asking for $30-$60k or so - which is more than in state tuition for a bachelor's degree in many states. The difference is that a BSc is still widely recognized and accepted and will still be in 10 years (despite what many HNers would like to think), unlike this program, which most certainly won't even exist anymore.
- austenallred 9y agoRepayment is capped at $30k max, so the most we could possibly take is $30,000.
- GuiA 9y agoOriginal posting is ambiguous on whether the $30k cap is yearly, or for the whole duration. Thanks for the correction.
- bb611 9y agoI lived (well) in San Jose on <$65,000 pre-tax for 4 years, including picking up a degree at nights to the tune of $20K. I agree that it is some financial challenge, but it is nowhere near as dire as "paycheck to paycheck." I agree with your larger point that a bachelor's degree is a better value, especially over the long term. Unfortunately a BS is going to take longer to get, especially in CA, where the education pipeline is overflowing and underfunded (but still very good value for money).