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>every year of college costs 1 year of salary This is point-blank wrong, unless you're only talking about elite private schools. Most state schools cost around
by deadmetheny 8y ago
>every year of college costs 1 year of salary
This is point-blank wrong, unless you're only talking about elite private schools. Most state schools cost around 1-1.5 years of full-time salary, discounting room and board since you have to pay for somewhere to live independently of if you attend university. If your goal is to simply get a degree, you can do it for less than $50k (which is definitely still off compared to the 70s, I agree).
- DamnYuppie 8y agoYour argument is only valid if you are assuming that tuition is paid for out of pocket. If you have to finance that $50k, you will most likely end up paying closer to $80k. The 80k assumes a 15 year repayment at current rates, if they can pay more and get it done in 10 years it drops down to under $70k.
- deadmetheny 8y agoThe $50k is assuming financing. Nobody realistically pays for college tuition out-of-pocket unless they were lucky and their parents set up a fund for it. Source: myself and literally every single college person I know who attended public universities in the Midwest
- Eire_Banshee 8y agoI paid out of pocket. Just had to do the national guard for 6 years. They paid for like, 90% of it. It was pretty dope.
- blueseaadmin 8y agoKudos to you for serving. Thank you. More kids should do the same. I did.
- deadmetheny 8y agoVery nice, I forgot about the military covering school as well. Thank you for your service.
- Eire_Banshee 8y agoYeah, there are some stipulations. Like, you have to go to an in state school. You do give up a significant chunk of your weekends and summers. I was a year behind all of my peers due to training. But to have almost zero debt is worth it. More people should consider it.
- _jal 8y agoYou're missing opportunity cost. If you're in school full-time, you're not working full-time. That costs the salary you're not making and the experience you're not getting, on top of what you pay for school plus interest (because unless your parents are rich or you're That Counterexample, you're borrowing). In return, you go to school, which one hopes is worth the cost over the course of the rest of your life, however you measure it (but here, mostly in currency). Which brings us back to this discussion.
- fooker 8y agoIt isn't fair to include an opportunity cost in this calculation because yoy wouldn't have most of those opportunities without college.