Why go to ERAU??

[wrxpilot]

at Riddle?

Me? No. I was replying to "Imperium", who seemed to indicate it's common to graduate w/ over $100k in debt. That is not the case unless you're getting loans for everything at some private school OR you're getting a med degree. You certainly don't have to go to any private school to get a respectable degree, and if you go in state it is still reasonable at public universities.

If you rack up over $100k in debt and complain you have nobody to blame but yourself. I know plenty of people that had no help from anybody and paid for their own school, house, car, and food and are WAY under even $40k when it's all said and done (for a Bachelor's). Any halfway intelligent person can get a good college degree for a reasonable expenditure if they work hard.

 

[Metro752]

Me? No. I was replying to "Imperium", who seemed to indicate it's common to graduate w/ over $100k in debt. That is not the case unless you're getting loans for everything at some private school OR you're getting a med degree. You certainly don't have to go to any private school to get a respectable degree, and if you go in state it is still reasonable at public universities.

If you rack up over $100k in debt and complain you have nobody to blame but yourself. I know plenty of people that had no help from anybody and paid for their own school, house, car, and food and are WAY under even $40k when it's all said and done (for a Bachelor's). Any halfway intelligent person can get a good college degree for a reasonable expenditure if they work hard.

oh ok, and I agree with the above quoted statements 100%xinfinity

 

[Imperium]

Me? No. I was replying to "Imperium", who seemed to indicate it's common to graduate w/ over $100k in debt. That is not the case unless you're getting loans for everything at some private school OR you're getting a med degree. You certainly don't have to go to any private school to get a respectable degree, and if you go in state it is still reasonable at public universities.

If you rack up over $100k in debt and complain you have nobody to blame but yourself. I know plenty of people that had no help from anybody and paid for their own school, house, car, and food and are WAY under even $40k when it's all said and done (for a Bachelor's). Any halfway intelligent person can get a good college degree for a reasonable expenditure if they work hard.

I think you misunderstand what I was saying. Do I think it is possible to graduate under 100k...sure. But you are kidding yourself if you think that a graduate w/100k in loans is something unheard of. For instance: Georgia residents, with a 3.0 gpa can qualify for HOPE scholarship. The stae of Georgia will pay for your tuition. You will pay for ~1/2 of your books and living expenses but tuition is covered. I have a friend who has finished her Masters in Accounting & Finance from UT. Her debt load is ~100k, but those loans include living expenses, tuition, books, and miscellaneous expenditures. She was an out of state student without parents to take care of her. If you think I am full of crap, that is cool, but look at a google search for collage costs. While you might have finished collage with a reasonable level of debt, you are beginning to be the exception rather than the rule. Just out of curiosity you said that you pay 180/month, but for how long. That is important. I know a friend who is paying 500.00/month in college loan payments. Granted she makes plenty of money as a corporate account manager for Ernst & Young, but she will still be paying for some time.
Is this an insane amount of debt...hell yeah. But is it uncommon...unfortunately it is not.

Here an example: The cost of 1 year @ UGA= $13,000.00-$26,000.00 (4)=$52,000.00-$104,000.00.

http://www.admissions.uga.edu/financial_firstyear.html

All I am saying is that higher education can be a very expensive endeavor.

 

[wrxpilot]

Edit post for content

 

[wrxpilot]

Imporium,

I definitely don't think you're full of crap. I used to live across the street from kids going to Denver University (DU, a private school) for $40k/yr in the mid-90s. If you want to pay the bucks, there are schools out there willing to accept. Is it neccessary? I personally don't think so, but my experience is only related to engineering. Maybe schools make a big different for finance and business, I don't know. I pay a 3% flat rate forever until my loans are paid off, but that's with Federal Subsidized loans (Nelnet). I don't know what the rate is for kids starting now. Basically I'd be foolish to pay off a 3% loan at this point, it's more cost effective to pay it off in the future - it's only a few months until I'm completely finished with my bad debt anyway.

You have a good question, how long will I be paying all my loans? Probably 15 yrs. But at 3% fixed and $28K I can deal with that.

If you want affordable, go in state and work your ass off. Not much more to it than that!

 

[Imperium]

Imporium,
You have a good question, how long will I be paying all my loans? Probably 15 yrs. But at 3% fixed and $28K I can deal with that.

If you want affordable, go in state and work your ass off. Not much more to it than that!

I think the rates have just gone up to over 6% now. You and I are in agreement, with you last line.

As far as bus. and accounting degrees. Have one from Harvard or Yale and see how fast doors open for you. That simple. You can go to a local jr. college and get the same degrees for a lot less, but you will not have the access to the same companies. Large Fortune 500 companies recruit out of the "better" schools. These schools know this and charge tuition accordingly. But since the thread was about ERAU, all of your points hold a lot of water. I was just referring to other degree programs out there and the relationship between school name and tuition costs. Private schools are another subject all together. I have a buddy in UGA law school now. He went to GT for his under-grad. Once he is finished with his JD his loans are going to be in the +250k range. While that is an insane amount, international corporate law pays quite well. I fully expect that he will have no problem repaying his loan quickly. The loan amount, to me, is not nearly as important as the degrees ROI.

 

[p3hawk]

Heck,if worst comes to worst join the military and have them pay for everything. I did. debt free in '93 and plenty of hours to boot. Oh yeah, SIU grad.

 

[cakeordeath]

FWIW....Riddle's MBA/A isn't accredited by the business school accreditation board. http://www.aacsb.edu/

If you're getting it for free as an employee, then more power to ya. Before I spent any of my own money however, I'd like to know it was a nationally recognized business program. It probably won't matter in the long run anyway, but just passing this bit of info. along.

I interviewed for a job in the general offices at Delta a few years back. Actual questions from the interviewer: "Hmmmm....I see you went to Embry-Riddle. What sort of school is that exactly? I know a lot of people here went to school there, but what is it?"

Lockheed interviewer:"So, you went to Embry-Riddle? You must have taken some maintenance classes, right?" No. (I was a business major)