Jail instead?

[bigpharmD]

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Do you wish you would have went to jail instead? This is why I REFUSE to go back and get any more schooling unless it is paid by my employer....

http://redtape.msnbc.com/2009/05/co...s-i-wish-id-gone-to-prison-instead.html#posts

 

[WVUPharm2007]

Aren't you essentially paying $65k a year for your current education? I mean, hell, if I got an MBA, it's only $5-15k/year.

 

[bigpharmD]

Aren't you essentially paying $65k a year for your current education? I mean, hell, if I got an MBA, it's only $5-15k/year.

65k ? not unless I was making >100k a year as a staff...which i wasnt....I am getting paid plus benefits...and in my specialty i have an opportunity to increase my yearly salary well over what most staff pharmacist makes or will ever have an opportunity to make....I am not currently adding loans with >5% interest to my current loan total and I am paying them down each month...where do you plan on getting your MBA a trailer??

 

[MountainPharmD]

Do you wish you would have went to jail instead? This is why I REFUSE to go back and get any more schooling unless it is paid by my employer....

http://redtape.msnbc.com/2009/05/co...s-i-wish-id-gone-to-prison-instead.html#posts

Naw, I would join the Army first. It beats jail by just a hair.

 

[Aznfarmerboi]

I do believe that the student loans system should be changed completely. Unfortunely, there is too much debate.

If we allow student loans to be discharged in bankruptcy, everybody would do it so they can start fresh in life. At the end, the taxpayers (us) would ultimately be paying for them (liberal art majors who thought their degree was worth 100k...). Any new system that the government come up with will probably screw us over because we make too much. For example, we can not deduct our student loan interest rate because we make more than 70k. Also, the rate of student loans interest will skyrocket because of the new risks.

It is a lose lose situation. The only good thing I see coming out from this is student tuition going down. The reason why student tuition keeps on going up is because of the damn loans.

 

[Sparda29]

Naw, I would join the Army first. It beats jail by just a hair.

I'd join the Air Force. The way I see it, if you're gonna join the military, why go for the division that sees the most combat and the one where you are most likely to get killed.

 

[mustang sally]

I thought that the statement that he would rather go to prison seemed a little extreme. Obviously I don't know his exact financial situation, but 30 grand in loans doesn't seem that bad to me. I think if he got his credit card paid off, he would be doing okay.

I try not to worry too much about my loans, since there is not much I can do about it (short of dropping out without the degree). But I do wonder if student loans are going to be the next big bust.

 

[WVUPharm2007]

where do you plan on getting your MBA a trailer??

Essentially, yes.

Regionally and AACSB accredited online MBA programs start as low as $7k for the entire program. You can get one from a name school for $20k or less. I think Miss State is like $15k for the whole shebang.

Or I could go to Waynesburg around here in W. PA. for a decent bill, too.

On the other hand, I'm getting more and more interested in critical care/ emergency medicine...it's the only thing my ADD brain can wrap itself around...hell, I don't even know what I'll do yet...I'll decide eventually...

 

[confettiflyer]

that kid's an idiot, that's all i gotta say. everyone i know who graduated from university seems to be doing just fine, regardless of field.

 

[PharmDstudent]

Credit card debt is the worst. If the however-many-grand in credit card debt was paid off, then I think he would be ok.

Maybe I'm naive, but I thought people were smarter than to pay for school on a credit card. 😕

 

[PumpkinSmasher]

I wonder what percent of baristas are college educated with liberal arts degrees?

 

[charfdorn]

Credit card debt is the worst. If the however-many-grand in credit card debt was paid off, then I think he would be ok.

Maybe I'm naive, but I thought people were smarter than to pay for school on a credit card. 😕

It's not school you put on the credit card, it's Wiis and Xboxes and movie tickets and Taco Bell. But you're still an idiot.

I wonder what percent of baristas are college educated with liberal arts degrees?

If you discount the baristas that are current liberal arts majors, I think it's close to 100%. I went to a small, private, Christian, liberal arts school and so many of my classmates did some time for S-bux. They eventually got real-er jobs, but still not in their respective fields. I took my English degree and dealt cards for four years. I wish there had been someone to tell me "hey, dude, you can't get a job with that degree." Or at the very least, "hey, dude, get an internship."

Anyway, prison sucks. I know being in incapacitating debt does, too, but it's not the same. You can still always declare bankruptcy, or even better, just stop paying on the loans. You'll lose what you have, and your credit will be ruined for ten years or so, but it's not like you're living the good life right now with that 30K in debt.

 

[Sparda29]

Credit card debt is the worst. If the however-many-grand in credit card debt was paid off, then I think he would be ok.

Maybe I'm naive, but I thought people were smarter than to pay for school on a credit card. 😕

Ehh, I pay my credit card with the extra money I took from student loans. I know its basically mortgaging the future. I mean, maybe I shouldn't have gone and gotten an Alienware laptop instead of settling with a $500 toshiba.

 

[xiphoid2010]

Education is an investment. Anyone who doesn't have the common sense of researching the cost and risks before dumping a big chunk of money deserves whatever happens. 🙄

Plus, the guy in the story has $7K in credit card debt... I think his problem is more likely one of lacking fiscal responsibility.

 

[mustang sally]

Education is an investment. Anyone who doesn't have the common sense of researching the cost and risks before dumping a big chunk of money deserves whatever happens. 🙄

Plus, the guy in the story has $7K in credit card debt... I think his problem is more likely one of lacking fiscal responsibility.

I don't know if I would go so far as to say people deserve whatever happens to them...A lot of people want to go to school, but there are very few people nowadays who can afford to pay the skyrocketing cost of tuition. So what happens when you finish your degree and can't find a decent job? And whatever happened to the days when you could work your way through school? I know I would be willing to work a lot of hours, if it meant I could pay for my schooling out of pocket. But no way is that possible any more. I think there are a lot of things in this country that need reform, and the cost of college is one of them.

 

[PumpkinSmasher]

It's not school you put on the credit card, it's Wiis and Xboxes and movie tickets and Taco Bell. But you're still an idiot.



If you discount the baristas that are current liberal arts majors, I think it's close to 100%. I went to a small, private, Christian, liberal arts school and so many of my classmates did some time for S-bux. They eventually got real-er jobs, but still not in their respective fields. I took my English degree and dealt cards for four years. I wish there had been someone to tell me "hey, dude, you can't get a job with that degree." Or at the very least, "hey, dude, get an internship."

Anyway, prison sucks. I know being in incapacitating debt does, too, but it's not the same. You can still always declare bankruptcy, or even better, just stop paying on the loans. You'll lose what you have, and your credit will be ruined for ten years or so, but it's not like you're living the good life right now with that 30K in debt.

I have always heard you can not include your student loans when you bankrupt, I could be wrong but I thought that was the case. I will look into it more this evening.

 

[xiphoid2010]

I don't know if I would go so far as to say people deserve whatever happens to them...A lot of people want to go to school, but there are very few people nowadays who can afford to pay the skyrocketing cost of tuition. So what happens when you finish your degree and can't find a decent job? And whatever happened to the days when you could work your way through school? I know I would be willing to work a lot of hours, if it meant I could pay for my schooling out of pocket. But no way is that possible any more. I think there are a lot of things in this country that need reform, and the cost of college is one of them.

What you say does have some truth. My undergrad was free because the tuition was only $4-5K a year, making it free after scholarships and internships. Ah, the good old days. It is sad that while tuition had doubled and troubled, scholarship $ has not kept pace, hence become increasingly financed by student loans.

But it's especially because of this, people need to look at where they are stepping. The story is still the same -- plenty are still pay through the nose for jobless degrees today like they were in the 90's; students are still running up their creditcards on bars and clubs.

Too much BULL has been said in advocating "pursuing" dreams and passions, yet nobody wants to look at the consequences or payback. If you can't afford to pursue your dream, then don't. Reality check comes before plunking down the dough. I have advocated prospective pharmacy students to calculate and project their finance before jumping into expensive programs, but too many simply don't care. What can you do but to say "I told you so" when the time comes?

 

[confettiflyer]

I have always heard you can not include your student loans when you bankrupt, I could be wrong but I thought that was the case. I will look into it more this evening.

Student loans stay with you for life, it makes sense because a court can force a sale of assets, etc... but you can't exactly "undegree" yourself. The only time a student loan can be discharged is under "extreme mitigating circumstances." Example might be...you're a quadriplegic who's deaf and mute and cannot work. It's up to the bankruptcy judge, I don't know the exact guidelines.

 

[fhx06]

Education is an investment. Anyone who doesn't have the common sense of researching the cost and risks before dumping a big chunk of money deserves whatever happens. 🙄

Plus, the guy in the story has $7K in credit card debt... I think his problem is more likely one of lacking fiscal responsibility.

Education definitely is an investment but there are plenty of people who abuse the privilege and the numerous gifts offered. In Florida, a state program called Bright Futures essentially pays for students' tuition + $300 if the students achieve the required stats and maintain a 3.0 overall GPA throughout college. I believe a good portion of the students I attended school with were in-state students who basically BS'ed their way through college while maintaining their scholarship while other less fortunate ones had to struggle to work, study, and just scrape by. I'm not saying the students who obtained the scholarships don't deserve it, but it seems like the money could've gone to better people.