Skip College, Become a Plumber

With the rising costs of education and degree holders working retail jobs, may be more beneficial to look into a trade. That is exactly what Bloomberg is suggesting and I completely agree. Respectable, stable careers exist outside of college. Check out this article for some eye-opening info: http://money.msn.com/now/post.aspx?post=daaa6e72-2c26-4877-adc4-23330abe2c06

How Does a Student Rack Up Almost $80k in Loans?

It’s not as hard as you think.  Matter of fact, I have quite a few friends in the same boat.  Currently the average tuition cost for an undergraduate degree is about $7000 per year, not including books or housing.  I remember my rent for college housing being $445 a month…that’s $5340 a year.  Alright, so we’re looking at $13,340 per year for tuition and housing, which comes out to $53,360 for a four year degree at a public university.   There’s also food, transportation, insurance, and other living expenses.  Add on two years of grad school, which is more expensive, and it’s just that simple!

Coming from a two-parent income household, my financial aid was calculated with the expectation that my parents would contribute to my college expenses.  This was another lesson that I learned on my own.    The first time I completed the FAFSA, submitted it, and waited for a response I didn’t know exactly what I was waiting for, but I knew that getting a grant would be a good thing.  When I told my Dad that there were numbers listed next to ”Expected Family Contribution”, the opposite of what we hoped for, reality set in.  Next thing I knew I was completing a promissory note for my first student loan.  Even with the student loans, each year that there were 3-4 months of living expenses that my financial aid couldn’t cover.  It was up to me to cover those expenses.  Luckily my parents were able to assist, but I know not everyone is that fortunate.  

Plain and simple - college is ridiculously expensive.  The thousands rack up quickly and easily.  I often wonder what I could have done differently.  Hmm....

The American Dream?

Like many other Americans, I was told that I would go to college.  It was an expectation and I knew this at a very young age.  I was a good student and graduated from high school with a 4.3 GPA.  I was able to get a scholarship that covered 75% of my tuition.  What more could middle-class, immigrant parents ask for?  This is what America is all about, right? 

I wanted to spread my wings, experience the freedom of what college was really about.  As I often put it, I wanted to be close enough to come home for the holidays, but far enough away that my parents couldn’t just pop up on me whenever they wanted.  Guidance counselors, adults, and recent graduates all stressed the difference in cost between private schools and public schools.  I listened and chose the University of Central Florida….a three+ hour drive away and one of Florida’s public universities. 

I graduated in 4.5 years from UCF (aka U Can’t Finish), then decided to go to graduate school.  I spent another two years at Florida International University going to school full-time and working full-time.  I graduated and entered the “real World” feeling accomplished and proud.  I had fulfilled my destiny. 

………or had I?  My first real job in the real World put a lot of things into perspective.  Here I was, a 25 year old with almost $80,000 in student loans at an interest rate of 6%.  People have mortgages…on houses….that they OWN at lower interest rates than that!  What had I done?? I thought I did everything right.  I listened to advice that I was given.  Where did I go wrong?