A great read on student loans

[Aznfarmerboi]

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http://www.forbes.com/forbes/2009/0202/060.html

http://online.wsj.com/article/SB123544367541855983.html#articleTabs=article

http://abcnews.go.com/Business/Economy/story?id=6654468&page=1.

http://www.latimes.com/business/la-fi-collegedebt27-2008dec27,1,6301865.column

http://www.democracynow.org/2009/3/12/reduce_the_rate_rev_jesse_jackson

 

[pharmacyanalyst]

Good reads. I am actually rethinking attending pharm school for these reasons. I'm not too excited about taking on $165K in debt over 3 years in this economy.

 

[WVUPharm2007]

This is why I paid off my Wells Fargo loan ASAP. The federal loans max out at 8.5% (I think), so its not going to get to the point of ridiculous gouging. It's rather simple...don't live like you are upper-middle class until your loans are paid off. I've paid off about $30000 in loans since July. In about 2 years, I'll have it all paid off unless something crazy happens with my income. THEN when that's all paid off, I can live a little...and I'll still be a youngin' at age 27.

 

[ValeRx]

Notice anything about those stories? They are ALL about people with useless degrees like Fine Arts. What ****ing job did they expect to get with something like that? People don't think before they make a commitment like selecting a major. That's why when I worked at a restaurant a few years ago, we had a dozen bartenders/servers who had political science or psychology degrees.

 

[PumpkinSmasher]

Notice anything about those stories? They are ALL about people with useless degrees like Fine Arts. What ****ing job did they expect to get with something like that? People don't think before they make a commitment like selecting a major. That's why when I worked at a restaurant a few years ago, we had a dozen bartenders/servers who had political science or psychology degrees.

I thought companies are fighting over fresh graduates art or sociology degrees?

 

[browneyes021]

I always hear the statement, "You'll be a pharmacist so don't worry about taking out the loans." I'm still worried since I'm up to 70K and I'm only a P2. But what else are we supposed to do once we max out federal loans and need living expenses? I can't even imagine how expensive it must be to live in California or NY as a poor college student... 🙁

 

[stevephhs016]

I always hear the statement, "You'll be a pharmacist so don't worry about taking out the loans." I'm still worried since I'm up to 70K and I'm only a P2. But what else are we supposed to do once we max out federal loans and need living expenses? I can't even imagine how expensive it must be to live in California or NY as a poor college student... 🙁

Go to private loans.

 

[Aznfarmerboi]

While taking on a six figure debt for history or art major is ******ed, I want to point out that is a lot of new law school and MBA graduates who are in that situation and unemployed. It will be hard for them to pay even interest off only without a solid job. If they default, that is when the trouble starts with double digit interest and fees tackled on.

In fact, there are masses of lawyers who in the last few months got fired from top law firms. You can bet that their savings will be exhausted in a few months and they will be up high in debt if the economy doesnt pick up soon.

 

[ValeRx]

While taking on a six figure debt for history or art major is ******ed, I want to point out that is a lot of new law school and MBA graduates who are in that situation and unemployed. It will be hard for them to pay even interest off only without a solid job. If they default, that is when the trouble starts with double digit interest and fees tackled on.

In fact, there are masses of lawyers who in the last few months got fired from top law firms. You can bet that their savings will be exhausted in a few months and they will be up high in debt if the economy doesnt pick up soon.

This may be a naive statement because I really don't know the first thing about law but how many "Ronny Deutche" or "Binder & Binder" jobs can there be? I have a friend who is going for is JD right now and wants to go into corporate law. I just don't see a huge market for lawyers out there. Unless of course you want to be one of those DUI lawyers. I bet they are doing well.

 

[Hels2007]

Notice anything about those stories? They are ALL about people with useless degrees like Fine Arts. What ****ing job did they expect to get with something like that? People don't think before they make a commitment like selecting a major. That's why when I worked at a restaurant a few years ago, we had a dozen bartenders/servers who had political science or psychology degrees.

Exactly. All but one (Lesson in Finance is the sole exception) are playing the blame game. If someone is an idiot enough to dump $20,000+ a year worth of tuition for a worthless degree, who is to blame, but themselves? And if someone signs the loan letter like it's free money without reading the fine print, again, it's their problem. Yes, some companies use underhanded marketing practices. No, that doesn't absolve the brainless ones from their responsibility for their own financial health.

People who want a useless degree should go to cheap state colleges that cost $5,000/year in-state, or shut up and pay up. And sheer stupidity was always a punishable offense in my book.

 

[DustinfromCA]

I have no idea why anyone would take out that many loans for a undergrad degree like Sociology. I mean its a useful major if that is your passion, I'm not saying everyone should be biosci or engineering majors, but if you are going to get a degree thats not in demand, go to a state school! There are plenty of them.

The problem that many students in CA face is that there are only 2 public schools and the rest of the schools are private, so those who aren't being helped out by mom and dad are forced to take out 35-45k worth of loans per year d/t the high tuition costs and high cost of living in this state.

Then I wonder is it really worth it? After taxes and loan payments I'm not even sure how much take home you will have. The plus side is that it is a job that is in demand, so I don't think this situation is the same as the ones in the news articles.

QUESTION. Grad Plus Loans are private correct, but are not adjustable (unless you default) so that situation that the law student in one of the articles (with the interest rate that ballooned to 12%) is not relevant to someone who is only taking out stafford loans and some amount of grad plus loans?

 

[browneyes021]

Go to private loans.

That's what I've done with the student signature loan, which I hate, but I have no other choice.

As for those with a degree in theater or history, I don't know what to say about those kids. I personally don't see how it makes sense to go to a private school to get a degree in a social science unless you plan on getting your Ph.D with it later on in life. But anyway, people have the freedom to make their own choices, whether they are financially good ones is up to them.

 

[Hels2007]

That's what I've done with the student signature loan, which I hate, but I have no other choice.

As for those with a degree in theater or history, I don't know what to say about those kids. I personally don't see how it makes sense to go to a private school to get a degree in a social science unless you plan on getting your Ph.D with it later on in life. But anyway, people have the freedom to make their own choices, whether they are financially good ones is up to them.

Yeah, but all too many of them want only to make the decisions, not to deal with consequences of those decisions. If they whine, complain, and want to make their financial problems the taxpayers' problem, then I have issues with them.

 

[ffpickle]

This makes me nervous since if I go to Pharm School, I will be 180-200k in debt. This is why I'm considering a PhD, because it pays for itself and I'll graduate with no debt...even though Pharm School interests me more.

 

[dangerdog]

This makes me nervous since if I go to Pharm School, I will be 180-200k in debt. This is why I'm considering a PhD, because it pays for itself and I'll graduate with no debt...even though Pharm School interests me more.

I've been recommending to students: go to a school that will you can finish with a debt load no more than 1 year's income.

Most public pharmacy schools can do that. $50-$60K tuition&fee over 4 years. Private schools more than doubles that, and those are the ones you need to be very careful. Some of the schools are brand new and are build mainly to make money off of the eager/desperate pre-pharmacy students. Don't go to those.

Ph.D is a very good alternative, and being free is extremely attractive. But keep in mind that many of the ph.D career fields are saturated, so look before you go into a particular subject.

If you can graduate with with $50K debt, the payment is only $525 a month for 10 years. I'll hazard to guess that the salary difference between Pharm.D and Ph.D is bigger than that.

 

[cal687]

I always hear the statement, "You'll be a pharmacist so don't worry about taking out the loans." I'm still worried since I'm up to 70K and I'm only a P2. But what else are we supposed to do once we max out federal loans and need living expenses? I can't even imagine how expensive it must be to live in California or NY as a poor college student... 🙁

Yeah....it sucks! 🙁 SF is sooo expensive. But the federal loans that I qualify for actually do cover my expenses...as long as I am careful. They give us a higher cost of living allowance here in Cali.

 

[ffpickle]

Regarding the first story (Forbed), that seems like they took good fortune (i..e high paying jobs) & ruined it.

Two people making 6 figures *each*, with a combined debt of 194k is manageable. This falls into the "1 year income" rule discussed by some above.

They said they're making at least 200,000 total. This is at least 16,000 (before tax) per month. I don't know how much taxes are for that bracket, but let's pretend they're 30% which leaves them with ~ 11, 000 per month.

Two people should be able to live off of 3000/month (36k/yr) -I know families in living on less. Yes you may have to buy a used car, share rides, not go on vacations, live in a small home, go without cable/satellite TV, cancel magazine/newspaper subscriptions, look for deals at the supermarket, etc. but it is financially responsible. Hell, let's add 1000/month strictly for things like golfing, gym memberships, buying fancy clothes, etc.

This leaves you with 7000/month to pay off debts. I would invest 1000k/month in a mutual fund you plan to empty in ~5 yrs.

You can then contribute 6k/month (72k per year) to pay off the student loans and my guess is that within 5 yrs (360k paid back for 194k of loans?), you will be good to go.

Those people just seem completely irresponsible.

 

[MindOverMatter]

I hate reading threads like these.

Especially when I'm still accruing debt.

 

[duck832000]

I've been recommending to students: go to a school that will you can finish with a debt load no more than 1 year's income.

This is very difficult, if not almost impossible, for pharm students. Most of us will graduate with ~ $200K debt while pharmacist annual salary is no where near that figure. The only situation where this advice may work is if you go to a public pharm school. But then it's so competitive right now, getting into ANY pharm school for a pre-pharm is hard enough, let alone applying only to public pharm school.

 

[aboveliquidice]

Most of us will graduate with ~ $200K debt

I would like to see a link backing this one up... I think you will find the majority of students will graduate with a value less than 200K.

As long as your yearly income is adequate - spending any reasonable amount on education is acceptable. There is NO better investment than education.

What other investment can I pay in 160k, but receive 100k back every single year. It continues to pay, year in and year out.

Side note - This entire post feels like deja vu... Student loan threads are popular this time of year.

~above~

 

[dangerdog]

This is very difficult, if not almost impossible, for pharm students. Most of us will graduate with ~ $200K debt while pharmacist annual salary is no where near that figure. The only situation where this advice may work is if you go to a public pharm school. But then it's so competitive right now, getting into ANY pharm school for a pre-pharm is hard enough, let alone applying only to public pharm school.

$100K-$120K (1 year's salary) max debt load for private school isn't easy, but certainly not impossible.

Keep in mind of these:
(1) internships. In the midwest, rent ~$500, food ~$200, utilities ~$100, Others ~$200. You can pay that by working 12-16 hours a week. Most of the students here do that, some even go nuts and work 30+ hr a week ($25K a year). That's enough to pay for living cost + $10+K towards tuition. That's pretty wild, but has trade offs because....

(2) scholarships. Good grades gives you more than bragging rights. It pays. It comes in 2 flavors: need based, and merit based. If you work too much and make lots of dough, your "needs" decrease as well as your merits. Finding a good balance between work and study is the key to maximize both pay and scholarships.

(3) tuition assistance/corporate 'scholarships". Some companies will give you x amount of $ if you are willing to work for them. This may not always be a good idea, but for those that is set to work for company X, it might be worth while. For example: My gf works for Kroger, and they offers interns $5K/year of loan forgiveness IF you sign on with them at graduation. That can shave off $20K off the top, not to shabby.

So comes back to the private school scenario:

suppose the school charge $30K a year, located in the midwest so $12K a year living cost. Total $42K per year.

Internship ($13/hr, $12/hr after tax). During school: $12/hr x 16hr/week x 30 weeks of school = $5760. Summer/Winter: $12/hr x 40 hr/week x 20 weeks = $9600. Total = $15360/year. Scholarship is harder to guesstimate, so I'll just use OSU number. $5K for 3.7 GPA (maybe a 3.5, I'm not sure). Add up work and scholarship = $20360/year.

$42K - $20K = $22K.... 4 years.... interest on unsubsidized loan... you end up with $90-$100K, still within the $100-$120K debt range. And if you worked for kroger and sign up with them, minus $20K, $cha chin$, you are in pretty good shape.


​

 

[Vitamin K]

This is very difficult, if not almost impossible, for pharm students. Most of us will graduate with ~ $200K debt while pharmacist annual salary is no where near that figure. The only situation where this advice may work is if you go to a public pharm school. But then it's so competitive right now, getting into ANY pharm school for a pre-pharm is hard enough, let alone applying only to public pharm school.

*GASP* A PUBLIC SCHOOL?!? Who would stoop so low?

No, really...most pharmacy students are in public schools. And most pharmacy students do NOT graduate with $200k in debt. From what I understand, $50-150 is the norm depending on whether you got a degree before pharmacy school, took out the full amount of loans, and/or had help from mom and dad. I think a year's worth of salary is pretty reasonable (although I'm in deeper than that, I'm not off by much)

Pharmacy school is competitive, but that doesn't mean you have to pay double for it...

 

[Aznfarmerboi]

This may be a naive statement because I really don't know the first thing about law but how many "Ronny Deutche" or "Binder & Binder" jobs can there be? I have a friend who is going for is JD right now and wants to go into corporate law. I just don't see a huge market for lawyers out there. Unless of course you want to be one of those DUI lawyers. I bet they are doing well.

The market for JD graduates depend on where they graduate from (based on US news and ranking), and what percent ranking of their class is in.

There are many law jobs provided that a lawyer graduates from a top 14 law school (Equivalent to us recieving multiple job offers before we graduate except their starting salary is 145-160k). If the JD graduates from a regional powerhouse like Fordham, they will also have excellent opportunities if they graduate top 15-25 percent of their class.

However on the other hand, if they graduate bottom at any other schools in tier 1, or went to a non ranking top 100 school, they almost have no jobs. If they do have a job, its usually low 20k to 50k with almost no opportunities for advancement (ambulance chasers or your DUI lawyers).

So for your friend, unless he went to NYU, Harvard, Columbia, Yale, Chicago, etc.... , or top 25 percent of his class at Fordham, he might as well drop out right now unless the military is paying for his tuition. In order for him to get a corporate law job, he most likely have to be based in NY too competing with graduates from the above fore mentioned schools.

 

[ffpickle]

Is it just me or is the couple from the first article just irresponsible? What do you guys think? I find it hard to sympathize with them...professionals should know how to manage their money more prudently.

 

[ffpickle]

The market for JD graduates depend on where they graduate from (based on US news and ranking), and what percent ranking of their class is in.

There are many law jobs provided that a lawyer graduates from a top 14 law school (Equivalent to us recieving multiple job offers before we graduate except their starting salary is 145-160k). If the JD graduates from a regional powerhouse like Fordham, they will also have excellent opportunities if they graduate top 15-25 percent of their class.

However on the other hand, if they graduate bottom at any other schools in tier 1, or went to a non ranking top 100 school, they almost have no jobs. If they do have a job, its usually low 20k to 50k with almost no opportunities for advancement (ambulance chasers or your DUI lawyers).

So for your friend, unless he went to NYU, Harvard, Columbia, Yale, Chicago, etc.... , or top 25 percent of his class at Fordham, he might as well drop out right now unless the military is paying for his tuition. In order for him to get a corporate law job, he most likely have to be based in NY too competing with graduates from the above fore mentioned schools.

You should be fine going to any Tier 1 school (see USNWR). Beyond that, it's tough to say.

 

[Calypso522]

Yeah, the whole loan situation is very scary. I went to a private school for undergrad that costs $48,000 a year. Luckily I had almost a full ride, so I'm only 10 grand in debt, but I know I'll have much more coming from pharmacy school and living expenses. I'm looking at $9000 a year in tuition plus like $9000+ for apartment rent and electricity at the bare minimum. Luckily I was accepted to a state supported school, since my second choice was $28K a year. I don't know how I would have survived there :-\ I'm flat broke as it is. My education valued at $200K from that private undergrad school only could get me $8 an hour this past year at two different jobs. 😡

 

[PharmaTope]

Regarding the first story (Forbed), that seems like they took good fortune (i..e high paying jobs) & ruined it.

Two people making 6 figures *each*, with a combined debt of 194k is manageable. This falls into the "1 year income" rule discussed by some above.

They said they're making at least 200,000 total. This is at least 16,000 (before tax) per month. I don't know how much taxes are for that bracket, but let's pretend they're 30% which leaves them with ~ 11, 000 per month.

Two people should be able to live off of 3000/month (36k/yr) -I know families in living on less. Yes you may have to buy a used car, share rides, not go on vacations, live in a small home, go without cable/satellite TV, cancel magazine/newspaper subscriptions, look for deals at the supermarket, etc. but it is financially responsible. Hell, let's add 1000/month strictly for things like golfing, gym memberships, buying fancy clothes, etc.

This leaves you with 7000/month to pay off debts. I would invest 1000k/month in a mutual fund you plan to empty in ~5 yrs.

You can then contribute 6k/month (72k per year) to pay off the student loans and my guess is that within 5 yrs (360k paid back for 194k of loans?), you will be good to go.

Those people just seem completely irresponsible.

LOL AT 30% TAX BRACKET!!!!!! umm you ought to look that up. it is a lot more than 30%. if you are making 100k on your own you are going to get slamed at least 40% between state and federal. if you make more you get even worse.

throw in the obama factor, i wouldnt expect to lose 50% of my income to taxes with him in office and his BS

 

[PharmaTope]

This makes me nervous since if I go to Pharm School, I will be 180-200k in debt. This is why I'm considering a PhD, because it pays for itself and I'll graduate with no debt...even though Pharm School interests me more.

phd is pretty awesome like that. the only thing is, you need to learn how to generate money based off of research. if you have failing research, don't expect to earn a living. all that grant writing is stressful.

 

[diastole]

LOL AT 30% TAX BRACKET!!!!!! umm you ought to look that up. it is a lot more than 30%. if you are making 100k on your own you are going to get slamed at least 40% between state and federal. if you make more you get even worse.

throw in the obama factor, i wouldnt expect to lose 50% of my income to taxes with him in office and his BS

Did you look that up? I just did because I was curious and a single making 100K is in the 28% tax bracket. State taxes depend on the state obviously. Some states have no income taxes at all. In others you pay a fair amount. I believe California has the highest with a top rate of about 10%. Of course, you are free to move to a state with low taxes. As for the Obama factor, you just got a tax cut unless you earn more than 250K a year. BS indeed!!! 🙂

http://www.irs.gov/pub/irs-drop/rp-08-66.pdf

 

[diastole]

I forgot to add that just because you are in the 28% tax bracket, it doesn't mean that you pay 28%. You only pay 28% on income above a certain amount. A single person making 100K in 2009, will pay just shy of 22% in taxes. I assume it works the same way in most states. You may be in the 8% tax bracket but you aren't really paying 8%.

Here is a handy calculator for the curious.

http://www.moneychimp.com/features/tax_brackets.htm

 

[xiphoid2010]

well, people making $100K can expect to pay about 1/3 of your paycheck to federal/state/fica/local taxes.

If you max out your 401K (as one should), and take on health/dental/life insurance plans, the paycheck that finally lands in your hands is probably more like 1/2. OUCH! $100K becomes $50-55K. >_<

 

[PumpkinSmasher]

[FONT=times new roman,times]When President Obama allows former President Bush's tax cuts of 2001 and 2003 to expire, this will amount to a de facto tax increase -.
[FONT=times new roman,times]
http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html
. [FONT=times new roman,times]
.

 

[ffpickle]

I forgot to add that just because you are in the 28% tax bracket, it doesn't mean that you pay 28%. You only pay 28% on income above a certain amount. A single person making 100K in 2009, will pay just shy of 22% in taxes. I assume it works the same way in most states. You may be in the 8% tax bracket but you aren't really paying 8%.

Here is a handy calculator for the curious.

http://www.moneychimp.com/features/tax_brackets.htm

Wow, I didn't realize that. That actually seems like an equitable way to administer a progressive income tax. I wish I knew more about money.

 

[diastole]

[FONT=times new roman,times]When President Obama allows former President Bush's tax cuts of 2001 and 2003 to expire, this will amount to a de facto tax increase -.
[FONT=times new roman,times]
http://www.americanthinker.com/2008/10/senator_obamas_four_tax_increa.html
. [FONT=times new roman,times]
.

This assumes that he is going to let all of the tax cuts expire. Is that the really the case? I think it is more likely that he will let some of the cuts expire and keep others.

 

[diastole]

well, people making $100K can expect to pay about 1/3 of your paycheck to federal/state/fica/local taxes.

If you max out your 401K (as one should), and take on health/dental/life insurance plans, the paycheck that finally lands in your hands is probably more like 1/2. OUCH! $100K becomes $50-55K. >_<

Back before I had kids or a house, my husband and I made a pretty decent salary between us and I was amazed how little that would buy. I see all the people on the boards talking about how much pharmacists make but when you start adding in things like retirement, mortgage payments, insurance of various types, it doesn't stretch nearly as far as you think it will.

My advice to anyone who thinks that they are going to be living large is to marry someone who makes a decent salary too. Then your expectations might come close to reality.

 

[pharmacyanalyst]

Back before I had kids or a house, my husband and I made a pretty decent salary between us and I was amazed how little that would buy. I see all the people on the boards talking about how much pharmacists make but when you start adding in things like retirement, mortgage payments, insurance of various types, it doesn't stretch nearly as far as you think it will.

My advice to anyone who thinks that they are going to be living large is to marry someone who makes a decent salary too. Then your expectations might come close to reality.

Yep- my hubby and I make six figures combined and we don't live too extravagent but money is still tight.

I think if you are young and coming out with a lot of debt, it's totally manageable because you can spread it over 20-30 years if you have to. I'm 31 so if I go to pharm school and spread it out over 30 years- when I finish, I will make my last loan payment at 65. How depressing is that?!?!

 

[fhx06]

Yep- my hubby and I make six figures combined and we don't live too extravagent but money is still tight.

I think if you are young and coming out with a lot of debt, it's totally manageable because you can spread it over 20-30 years if you have to. I'm 31 so if I go to pharm school and spread it out over 30 years- when I finish, I will make my last loan payment at 65. How depressing is that?!?!

Wouldn't this assume you go into pharm school without any money saved up or no supplemental income to go towards paying tuition? Your living expenses can be supported by your husband's income so it's the tuition you would be most worried about.

Interning whenever you can while in school could definitely apply towards all that so assuming you are not taking loans out for living expenses, all your interning would go towards paying back the loans and maybe supplementing living expenses. This does mean no vacation for a while, though. : /

 

[ffpickle]

Yep- my hubby and I make six figures combined and we don't live too extravagent but money is still tight.

I think if you are young and coming out with a lot of debt, it's totally manageable because you can spread it over 20-30 years if you have to. I'm 31 so if I go to pharm school and spread it out over 30 years- when I finish, I will make my last loan payment at 65. How depressing is that?!?!

I think the mistake is precisely spreading it over 25-30 years. Slum it for ~5 years and then work without having to pay off debt for another 20-25.

We should emulate WVUPharm2007.

When you have young kids or no kids, a medium sized home, satellite TV, vacations (unless it is less than a 4h drive away), golfing, attending sporting events, shows, a gas-guzzling SUV, & eating out are completely unimportant. The number one thing you should do is pay off debt. This means living like you did in undergrad for 5 yrs out of Pharmacy school.

 

[WVUPharm2007]

We should emulate WVUPharm2007.

I'm not sure if I should be flattered or warn you that this is the worst advice I've ever seen in my life.

 

[duck832000]

*GASP* A PUBLIC SCHOOL?!? Who would stoop so low?

No, really...most pharmacy students are in public schools. And most pharmacy students do NOT graduate with $200k in debt. From what I understand, $50-150 is the norm depending on whether you got a degree before pharmacy school, took out the full amount of loans, and/or had help from mom and dad. I think a year's worth of salary is pretty reasonable (although I'm in deeper than that, I'm not off by much)

Pharmacy school is competitive, but that doesn't mean you have to pay double for it...

Pardon my ignorance but there are more private pharmacy school than public pharmacy school, how can most pharmacy students are in public school?

 

[pharmacyanalyst]

I think the mistake is precisely spreading it over 25-30 years. Slum it for ~5 years and then work without having to pay off debt for another 20-25.

We should emulate WVUPharm2007.

When you have young kids or no kids, a medium sized home, satellite TV, vacations (unless it is less than a 4h drive away), golfing, attending sporting events, shows, a gas-guzzling SUV, & eating out are completely unimportant. The number one thing you should do is pay off debt. This means living like you did in undergrad for 5 yrs out of Pharmacy school.

I get what you are saying but it's harder when you are older. Do I want to be slumming it until I am 40, living in an apt and driving beater cars with 2 kids? If I was 21, single or just married then I would totally slum it. It all changes when you bring kids into the picture.

 

[xiphoid2010]

Pardon my ignorance but there are more private pharmacy school than public pharmacy school, how can most pharmacy students are in public school?

well, until all the for-profit private pharmacy schools started to spring out of ground like weed, pharmacy school has been mostly a public institution until very recently. I'm not entirely sure what's going on now.

For example, when I was a P1 in 2006, there were only 90 pharmacy schools. Less than 3 years later, now it's over 100.