Student debt

I agree: I stopped going further with my MA in history due to that. (Well, it would have been only for fun - so I'll get a British degree for nearly the same amount of money :wink: ).

My degrees, however, weren't an advantage at all in my job (as social worker): overqualified.


Sister-in-law's husband has studied Russian, but works in software engineering at a subsidary of one of German biggest insurance companies.
About twelve years back, when he got his PhD [for "The Stefan Zweig reception in USSR"] his salary increased on the very same day ... $ 650 per month more :wink:

I do think the value of a college education pays for itself it more ways than one. I'm not convinced that the value of an undergraduate degree in a top tier school is worth the money as a non-resident. My current thinking is to encourage the girls to get an in-state undergraduate degree and then, if they want to continue their education, pay more attention to the name/caliber of the school for any advanced degrees. I agree that having a degree gets you in the door, I think effort and in-house experience are more important for promotional opportunities than which school you attended.

We started college savings accounts for both girls when they were babies. Unfortunately they were nailed by a couple stock market crashes, but we're still able to pay the full cost of approx 3 years at an in-state school. They will not qualify for financial aid because of our income, but whatever grants or part-time work they manage to get will help with the rest.

M is a strong academic and will probably get offers from top schools. K is looking at art/music schools and wants to stay closer to home for at least the first couple years.

Many of our friends are finding their kids struggling with the pressures of college and not doing well. One friend pulled her son out of UW-Madison because the Cs and Ds he was pulling wasn't worth the $30,000/year they were paying as nonresidents. He's now going to a local school trying to get his head together.

I don't think there's any one right answer, but the next few years are going to be very interesting as we start the formal process.

I'm sure. I'll be watching with interest.

One huge advantage of having a professor husband is that we will at least get a deep discount and may get free education for the sozlet IF she goes to the school he is working for at the time. University of Chicago, which was interested in him for a while, offers a full free tuition for children of faculty members, that was a bit of a humminahummina.

But there's always that IF -- I wouldn't be comfortable requiring sozlet to go to the school where her dad works. (I think U of C had some insane thing like they'd cover the cost at any school as long as it was equal to or below U of C tuition -- which is high!!! OSU doesn't have that, I'm pretty sure. OK now I'm curious, will find out.)

Tuition does seem to have gone into the stratosphere even just since I was a student. $30,000 a year for out of state tuition at my alma mater? Wow!

I agree. When my professor offered me to stay for three years of doctoral studies, at a salary below America's minimum wage, I didn't think twice. And it wasn't because I had calculated my possible future income.


And it's about the same for out-of-country students, and most German universities are pretty good. Might be an option for J_B's daughters if she can spend their college savings accounts at foreign universities.

Interesting concept, Thomas. It's certainly something to keep in mind.

Soz, I don't think the $30,000 was just tuition, I think it was the total expense, a bargain compared to UM-Ann Arbor at $50,000/year.

Jeez, it's probably even higher now, Soz.



My friend's son was there in 2004-05 before this was approved.

From today's Chicago Tribune (page 4)



Related report (online): Democrats see election issue in rising cost of college

Well there ya go. I finished up with grad school in 1996, it was much lower yet when I started as an undergrad, I think. Thanks, Walter.

Going to college is worth it... if you make it worth it. I believe the average college graduate makes something like $800,000 more over their lifetime than someone with a high school diploma. Yea college is pretty boring and all you really get is a piece of paper. but that piece of paper is worth more than its weight in gold by a long shot. Take for example: you go to college... you learn a little more than the high school graduate. But realitly the knowledge base is always doubling every few years. meaning everything you have learned from formal school will be completely obsolete by the time your 40. There is no real gain from a private school other than the "networking" and when i mean networking i mean... being able to associate with the up and coming of your generation.