But you’re assuming that the student has an aptitude for a technical degree. It’s no good studying chemistry or accounting “because its practical” when you fail out or graduate with a C average because it’s a deadly chore the entire time. A C average in your major is about the least practical thing ever. You don’t have to be above-average to leverage a poli-sci degree. You’ve got to be above-average to leverage ANY degree. I don’t see companies lining up to hire accountants or engineers – or biologists for that matter – that have a C average.
You’re better off as an “A” archaeology student, than a “C” accounting student. Grades matter a lot in your first professional jobs.
I mean, I’m math phobic (and maybe slightly dyscalculic). My mom was constantly trying to encourage me into a technical field but it just didn’t take. yes, I did get through an advanced math & science high school program, including calculus, with no end of sweat and copious tears. If that was my whole life… I honestly don’t know what I would do. There’s no way I could complete a college-level course of study in a scientific field or engineering field. Not because I’m not prepared, and not because I’m not smart. Because I hate it and you just can’t do well at something that’s pure agony. Ever work with someone who is technically competent but just doesn’t “get” the field in the big picture? I don’t want to be that person, and I certainly don’t want to hire that person, because that person is absolute hell as a colleague with their constant stress and confusion whenever anything changes slightly.
Now back to the OP I am one of those who believe that “do what you love” is silly and usually reflects garbage binary thinking. Most things people love don’t hold much water as far as making a living, and most people have loads of things they could do and be perfectly content But at the same time, there are things a person genuinely hates, and things they have a noted lack of aptitude for. They shouldn’t do those things.
Thought experiment: imagine that the world changes and only intensely social people-focused jobs requiring a constantly flow of friendly chatter and fashionable office dress are “practical” in terms of a ready flow of jobs. How practical is it for a you as an individual to study or work in that field? Pardon me for being presumptuous, but you’ve posted often about your preference for solitude, so I’m thinking “not very.” It wouldn’t matter how much your father demanded you study Public Relations or Pharmaceutical Sales, would it? Maybe you could learn to dress right, speak right, flirt right, and mingle right, but would the effort you put in to reach a barely-acceptable level be worth it?
You don’t have to be a math genius to be a lab tech. You’d just have to master the coursework to get the degree. As long as you can operate a calculator or an Excel spreadsheet, you’re good to go for most science-related occupations. I’d seriously lose my mind if I had to do calculus every day.
It comes with its own set of downsides, though, doesn’t it? Especially when you pay it after 25 years. There are some tax consequences.
There are also some repayment plans, includig loan forgiveness for people who work in government (federal and possibly state), as well as non-profit, academia, or other public agencies. Some of those do NOT have tax consequences, so that’s good.
It is my current payment plan, and I’ve just decided I’m going to live with this debt forever and ever. There’s no really realistic way to pay it off unless I make the equivalent of 3 times the top starting salary for someone in my field.
I don’t pay for college. My husband and I have paid years of private school tuition at the elementary and high school level. My kids have known since day one that they are responsible for their own college.
My thoughts are our responsibility is to give them the best possible start in life. Where they go from there is on them
Not surprisingly, the oldest has been attending a good private college with multiple scholarships and less than$5,000 of loans,. Next one is entering college this fall, and already has won a very nice national scholarship in addition to what the colleges have been offering.
You know why? Because they knew they had to. No way to pay for five kids college tuition.
You can get pissy and spiteful, but at the end of the day, no one owes you shit. The earlier you figure that out, the better.
I don’t think parents owe a college education. I just think making support contingent on studying this or that is a bit of a fool’s errand at the end of the day.
First off, I think you’re liberally interpreting my posts in this thread. I would never force my imaginary kid to study something against their will. If they wanted to study English and they have sufficiently demonstrated high aptitude and drive for this subject, then it would be pretty crappy of me to try to dissuade them. But if I thought they were just looking for an “easy” major to coast through for the next four years, they’d need some sense talked into them fast. I would let them know that if they expect my financial support, they’d need to study something that’s more career-oriented. Technical degrees do have this going for them. Please reread what I have posted so that you can see that this is ALL I have been saying.
Now that that’s been cleared up, to your scenario.
If my father had demanded I study Public Relations or Pharmaceutical Sales, then I would have laughed in his face and said, “OK, Daddy. I’ll pick up the tab myself. Bye!” And then I would have taken out loans/grants and studied what I had wanted to study. And then after I became a big-time success, I’d go home and laugh in his face again.
Now, if my father had said he’d only pay my tuition if I earned a liberal arts degree, I might be tempted to hear him out. Maybe we can strike a deal, you know? If “extroversion” is what he wants me to learn, then maybe I’ll agree to major in theater as long as he lets me minor in biology. Or maybe he agrees to cover a decent percentage of my costs if I major in biology at the very best school that I can get into, ensuring that I have all the connections I need to land a good job.
I know I have unorthodox opinions about some things. But I don’t think I am being unreasonable with this, Hello Again.
Right? I can’t figure out why all of these people with federal student loans are being plunged into financial ruin by them, as the repayment terms in most cases are pretty darn generous, and they aren’t stingy with deferrals when things get rough.
I am not sure I understand what you’re saying here. Under IBR, your loan is forgiven after 20 or 25 years (I forget which–maybe that’s the 25 you’re talking about?) Sure there are tax “consequences” but the tax bill is a fraction of the remainder of the loan owed.
And in the meanwhile, over the course of the 20-25 years, your payments are practically guaranteed to be affordable.
There’s no downside.
The truth is, for many (possibly most), federal student loans are actually a subsidy, not really a loan.
Under IBR, you pay no more than 10-15% of your income (often less) and loans are written off after 25 years, or 10 years if you work in public service (government, NGOs, etc.) You do have to pay taxes on the amount eventually forgiven, so that is something to plan for.
You can switch plans at any time, so if you find yourself making good money, you can switch to a more favorable plan.
Yea, the tax consequence is when the 25 years are off, because you have to pay the taxes on the amount that is forgiven. If you’re one of the ones whose loans exceed $100K, there can still be a hefty sum that is taxable at a point in life where the person may also be burdened with other financial responsabilities.
And yea, the plans can be switched (which is good), but it is also dependant on you actually getting a job that pays high enough.