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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [Ringmaster] [ In reply to ]
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Ringmaster wrote:
That's crazy for Waterloo. I just checked UBC computer science, $6500 tuition and student fees.

I was curious about “general” state college in the US for example say you have a kid who is 18, pretty smart and wants to be a nurse.

Basically they are done in 4 years and at 22 are making minimum 75k$ year...from there with that degree you can stay on the floor or get to “maybe” peak 150$k per year by mid 30’s at high level admin. Keep in mind all of the pension and other high level benefits.

For general degrees does it really matter where you go? Does anyone care if their nurse is MIT or Harvard trained?

Also is living on res a “thing” after first year? I am more of a trades guy but spent a lot of weekends at Queens and Western when I was 18-20 visiting friends. They all left residence after 1 year. Same with my nieces, one is at UVIC and the other at McGill. My one niece works summers at BC ferries and lives at home during the summer.

Maurice

http://www.multisportsolutions.com
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [trail] [ In reply to ]
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tri_yoda wrote:
So you have personal knowledge that all (or most) of the loans taken in this case were irresponsible?

I think we worry about some of these kids' decisions -- especially the ones the media likes to highlight -- but it's a bad idea IMO to let a bunch of know-it-alls in the LR make the decisions for them. Millennials and Gen Z are between a rock and a hard place because the cost of social respectability keeps going up. And, sadly, this phenomenon is way more about social status than education.
Last edited by: SH: May 21, 19 7:38
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [tri_yoda] [ In reply to ]
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tri_yoda wrote:
So you have personal knowledge that all (or most) of the loans taken in this case were irresponsible?

If they were responsible they would have gone to college 30 years ago when it was very affordable.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [SH] [ In reply to ]
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SH wrote:
tri_yoda wrote:
So you have personal knowledge that all (or most) of the loans taken in this case were irresponsible?

I think we worry about some of these kids' decisions -- especially the ones the media likes to highlight -- but it's a bad idea IMO to let a bunch of know-it-alls in the LR make the decisions for them. Millennials and Gen Z are between a rock and a hard place because the cost of social respectability keeps going up. And, sadly, this phenomenon is way more about social status than education.

First, no one is asking to make the decisions for them.

Second, I certainly hope you can re-read your post and see the glaring irony therein.

If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers

Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [JSA] [ In reply to ]
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Quote:
First, no one is asking to make the decisions for them.
I know, but some of the comments found here beg the question so I mentioned it.

Quote:
Second, I certainly hope you can re-read your post and see the glaring irony therein.
You see? There you go again.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [crowny2] [ In reply to ]
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So this story peeked my interest of where this money is coming from. The Billionaire in question Robert F Smith founded Vista Equity Partners.

They have acquired a bunch of tech companies, the only ones I recognize is Active network and MindBody.

Seems the extortionists at Active network was worth a Billion Dollars! So I guess we can be all sleep easy knowing the mandatory massive active fee for each Ironman or other tri in some small way paid for somebodies college tuition.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [mauricemaher] [ In reply to ]
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mauricemaher wrote:
Ringmaster wrote:
That's crazy for Waterloo. I just checked UBC computer science, $6500 tuition and student fees.


I was curious about “general” state college in the US for example say you have a kid who is 18, pretty smart and wants to be a nurse.

Basically they are done in 4 years and at 22 are making minimum 75k$ year...from there with that degree you can stay on the floor or get to “maybe” peak 150$k per year by mid 30’s at high level admin. Keep in mind all of the pension and other high level benefits.

For general degrees does it really matter where you go? Does anyone care if their nurse is MIT or Harvard trained?

Also is living on res a “thing” after first year? I am more of a trades guy but spent a lot of weekends at Queens and Western when I was 18-20 visiting friends. They all left residence after 1 year. Same with my nieces, one is at UVIC and the other at McGill. My one niece works summers at BC ferries and lives at home during the summer.

Maurice

You picked one of only 2 degrees that you can get and be a "professional" with an undergrad, Nursing and Engineering. For the record I spent 4 years in Dorms. My daughter probably will also. Depends on the Univ and the individual. Someplaces almost no one stays on campus other places lots do.

If you want to just be a nurse or Engineer where you go really doesn't matter (well If your engineer don't go to Purdue, though I do here its a good foundation for becoming a lawyer) But if you want to work in something cool / advanced etc. where you go can matter.

My daughter finishing her 2nd year in BioMed engineer is now doing research on a wound healing gene on mice. You would not get that opportunity at any school. College can be about more than getting the paper, it can also be about making a network, being introduced to people and places and for those things places matter.

Just Triing
Liking ST more since finding the block user post option.
Triathlete since 9:56:39 AM EST Aug 20, 2006.
GM employee, The views and comments posted are my own and in no way reflect those of GM. - Required legalize from employer.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [DavHamm] [ In reply to ]
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If there are no dogs in Heaven, then when I die I want to go where they went. - Will Rogers

Emery's Third Coast Triathlon | Tri Wisconsin Triathlon Team | Push Endurance | GLWR
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [Endo] [ In reply to ]
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Endo wrote:
JSA wrote:
Harbinger wrote:
Endo wrote:
My daughter goes to Texas A&M. Normal degree path. At least at there, no kid gets out in 4 years, so it usually takes 5 years.


Really? Mine did. Both with degrees in science. I know many students who have graduated A&M in 4 years. But I do agree that they are trying to protect their turf in general.


How many years ago? My daughter's former fiance got out of Wisconsin with a computer engineering degree in 4 years, but, that was 10 years ago. Back then, it was very difficult to get out in 4. Now, it is nearly impossible. They intentionally schedule the classes to make it nearly impossible to get the classes you need when you need them.


I should clarify, i was exaggerating a bit...some kids get out in 4-ish years, but my understanding is most don't...its 5 years. Those that get out in 4 will usually do summer semesters and are more successful at getting college credits applied toward their degree plan from HS and Jr College.

My daughter is in Engineering school. To JSA's point, and mine earlier along the same lines, Universities are doing all they can to money grab to make it difficult to get classes, difficult to do on-line courses, difficult to do basic classes at Jr Colleges, etc... to draw out the time spent at the University as long as possible.

It is an archaic broken system. I am now a jaded parent when it comes to the University system. I have a ton of stories and issues that I'm not listing here. It is not what it was 30 years ago when I went through.

.

I am amazed at how many of both my daughters friends gradutated in 3 years. With Engineering degrees Yes sure they were at small backwoods schools Univ. of Mich and Univ of Wisconsin were 2 of them. They went in with a bunch of AP and IB credits. It can be done and is, but the kids have to be smart, working on it in High school etc...

Just Triing
Liking ST more since finding the block user post option.
Triathlete since 9:56:39 AM EST Aug 20, 2006.
GM employee, The views and comments posted are my own and in no way reflect those of GM. - Required legalize from employer.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [JSA] [ In reply to ]
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JSA wrote:

Thought you would appreciate my Humor.

Just Triing
Liking ST more since finding the block user post option.
Triathlete since 9:56:39 AM EST Aug 20, 2006.
GM employee, The views and comments posted are my own and in no way reflect those of GM. - Required legalize from employer.
Be kind English is my 2nd language. My primary language is Dave it's a unique evolution of English.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [DavHamm] [ In reply to ]
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DavHamm wrote:
crowny2 wrote:
I was fortunate that my folks paid for my college outright and so did my wife's parents which frankly put us in incredibly good standing for life without a crippling debt hanging over our heads immediately after graduation. While the cost of my school has skyrocketed since I was there in the early 90's (it was $19k/year when I left and it is over $40k/year now) I can't imagine the overwhelming sense of relief for these students and their families upon hearing this. Congratulations to this class. Reminds me of Tony Stark paying it off in Ironman. Cool thing to do for these kids.

https://www.ajc.com/...HlS1SVyJiG3mRp1WOWL/


As a parent in the process of paying about $300,000 for 3 kids college. This story shows the problem. How would you or your parents feel sitting in commencement knowing if you had only taken out student loans it would all be covered, but since your parents stepped up they got screwed?

Oh no relief for the parents if they took out Parent Plus loans, or found some other way to pay it, They are only paying off student loans, through the university.

I get its a good thing, but I think a far better thing would have been to set something up for the incoming classes.

As a parent who paid for one kid through college and another who's a junior, with the goal that they graduate without debt, I wouldn't have any problem. At times, things were extremely tight, especially the overlapping two years when both were in college. And because I didn't pay for everything, they had to work hard too. But I would be happy for the other students.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [Justgeorge] [ In reply to ]
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Justgeorge wrote:
He just gave incentive for all future students to take on debt in the hopes that in the future someone else does that for their class. And a big FU to those who didn't take on debt, who worked multiple jobs to pay as you go, etc..

Sigh.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [mauricemaher] [ In reply to ]
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mauricemaher wrote:
Ringmaster wrote:
That's crazy for Waterloo. I just checked UBC computer science, $6500 tuition and student fees.


I was curious about “general” state college in the US for example say you have a kid who is 18, pretty smart and wants to be a nurse.

Basically they are done in 4 years and at 22 are making minimum 75k$ year...from there with that degree you can stay on the floor or get to “maybe” peak 150$k per year by mid 30’s at high level admin. Keep in mind all of the pension and other high level benefits.

For general degrees does it really matter where you go? Does anyone care if their nurse is MIT or Harvard trained?

Also is living on res a “thing” after first year? I am more of a trades guy but spent a lot of weekends at Queens and Western when I was 18-20 visiting friends. They all left residence after 1 year. Same with my nieces, one is at UVIC and the other at McGill. My one niece works summers at BC ferries and lives at home during the summer.

Maurice


I can only state my observations, and of course it's a generalization, but in my opinion Americans place more emphasis on the school than Canadians. In my experience (I'm an engineer), where you went to obtain your degree doesn't really matter as long as the program is accredited.

I really don't know about living in residence. I was 25 when I went to university and had been living on my own for 7 years. But none of my friends (or my friends kids) lived in res. That could be more of a case of availability than desire. I understand there's a shortage of student accommodation. So much that some schools (McGill?) limit student housing to first year only.

Here's a short, light article about the difference between the Canadian and American University experience.

https://www.insider.com/...-differences-2018-11
Last edited by: Ringmaster: May 21, 19 12:21
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [AlanShearer] [ In reply to ]
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my Kids had friends who went to school around 10 years ago (at the start of the crazy price increases). Their parents who could afford to pay for school made them take out max government loans even when they could pay for school.

The thought process being that if the government is going to have some sort of student debt forgiveness or lower interest rates, you want to have that debt to forgive or interest free loan. I think at the time it was like 15g a year you could take out in government loans.

So people have been taking out loans for a while thinking the government was going to do something about it for a while.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [patentattorney] [ In reply to ]
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I'm not sure students taking out loans on the off chance that the government some day will forgive those loans is a common phenomenon, especially one that's been around for years.

Sure, there were plenty who were naïve and reckless when incurring the debt, but that's mostly a different thing.
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [Ringmaster] [ In reply to ]
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Ringmaster wrote:
mauricemaher wrote:
Ringmaster wrote:
That's crazy for Waterloo. I just checked UBC computer science, $6500 tuition and student fees.


I was curious about “general” state college in the US for example say you have a kid who is 18, pretty smart and wants to be a nurse.

Basically they are done in 4 years and at 22 are making minimum 75k$ year...from there with that degree you can stay on the floor or get to “maybe” peak 150$k per year by mid 30’s at high level admin. Keep in mind all of the pension and other high level benefits.

For general degrees does it really matter where you go? Does anyone care if their nurse is MIT or Harvard trained?

Also is living on res a “thing” after first year? I am more of a trades guy but spent a lot of weekends at Queens and Western when I was 18-20 visiting friends. They all left residence after 1 year. Same with my nieces, one is at UVIC and the other at McGill. My one niece works summers at BC ferries and lives at home during the summer.

Maurice

I can only state my observations, and of course it's a generalization, but in my opinion Americans place more emphasis on the school than Canadians. In my experience (I'm an engineer), where you went to obtained your degree doesn't really matter as long as the program is accredited.

I really don't know about living in residence. I was 25 when I went to university and had been living on my own for 7 years. But none of my friends (or my friends kids) lived in res. That could be more of a case of availability than desire. I understand there's a shortage of student accommodation. So much that some schools (McGill?) limit student housing to first year only.

Here's a short, light article about the difference between the Canadian and American University experience.

https://www.insider.com/...-differences-2018-11

Thanks,

That definitely explains a few things, for example mandatory room and board at some US schools. Likely a profit Stream for the schools. Also in places like Montreal and Kingston rents are still *relatively* cheap so it would make sense to move out.

Maurice

http://www.multisportsolutions.com
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [AlanShearer] [ In reply to ]
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This was a while ago. But I think FAFSA loans you could get with a 1% initiation fee for like $5000 a semester. What we did as parents was take out the loan because there was no interest on this for 4 years (potentially more, if grad school).

At the time of us taking out the loans as well the interest rates were really low, like 3%. this jumped quickly later to like 7% for later kids.

But we still took out the loans for three reasons. 1) interest free loans. 2) potential government/public sector work programs to pay off loans. I think this was implemented. If you worked for the government for 10 years,your student loans would be paid off. Or something like that. 3) the potential of the government rolling back interest rates.

We were not taking out the loans for the potential of a government bailout for the loans. But more so because you are getting interest free loans. This was only for like 10g a year.

A college guidance counselor at the high school was telling us that we might as well take out the loans for number 1 and 2 above. Things may have also changed greatly in this process from 10 years ago.
Last edited by: patentattorney: May 21, 19 12:29
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Re: Billionaire pays for Morehouse 2019 graduating class student debt (~$40M) [AlanShearer] [ In reply to ]
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AlanShearer wrote:
Justgeorge wrote:
He just gave incentive for all future students to take on debt in the hopes that in the future someone else does that for their class. And a big FU to those who didn't take on debt, who worked multiple jobs to pay as you go, etc..


Sigh.

RIP G.C.


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