Business major doesn't understand money.

[cyrus buelton]

I am close in age and ran into the same problem as redxblack (I graduated in 03).

I was not at the top of my class, but I had well over a 3.0 and graduated without a job.

Took me about 9 months and eventually got a job and 5.5yrs later I am still working and progressing in my career quite a bit. However, I had an inside connection to the job, which seems to be the most common way people get in anymore.

[Howie]

Although this young lady has proved herself to be a dumbass in more ways than one, the truth of the matter is neither stupidity or education is relevant here.  Borrowing money for education is a good investment.  Using this money to buy other luxury items is not.

One does not need a course in economics, financial planning or a high IQ to understand  money borrowed needs to be paid back with interest.  Nor does one need those qualifications to figure out an Ipod or Iphone should have a lower priority than food and shelter.  The problem is simply a lack of willpower and self discipline.

[cyrus buelton]

The problem is simply a lack of willpower and self discipline.

That is the huge issue with this generation.

And I find the reason to be very easy:

lack of parenting

[corey]

That is the huge issue with this generation.

And I find the reason to be very easy:

lack of parenting

^ bingo.

[JEFF_H]

average debt for 4-year graduates is $22000

she borrowed $120,000

it's sallie maes fault for loaning her money and ruining her life  
i'm just glad she cant flip a quick bankruptcy and make the rest of us pay for it  

[Howie]

That is the huge issue with this generation.

And I find the reason to be very easy:

lack of parenting

Trust me, it ain't just this generation.

[Pakhan]

it's sallie maes fault for loaning her money and ruining her life  

Um...no.

[Triple J]

Um...no.

I think that's what  means.

[Goat_Herder]

She's made her bed and now she needs to sleep in it.  It's obvious that she is not the most responsible person you will meet.  Didn't apply for Federal aid when it was available.  She partied too much with too much of that "free money" in her pocket.  She was failing in the classroom.  GPA below 2.0 and flunked out of 2/3 of her classes (4 out of 6 probably).  Can't find a decent job after school and she gets pregnant... 

So am I supposed to feel bad for her?  Did I miss something here?

[Pakhan]

I think that's what  means.

I wasn't sure 

[superjohn]

Very few people think about the ROI of a college education. They get sold on this college or that based on the school's sales literature, or based on some family devotion to a sports team.

[Rufus120]

average debt for 4-year graduates is $22000

she borrowed $120,000

She must have taken out money to cover all of her living expenses which is why she is used to having 150 phone bill. I feel worse for her kid.  Wonder if she'll have even paid off her loans by the time her kids ready for school.

[cyrus buelton]

average debt for 4-year graduates is $22000

How is that even possible?

I'll pick a random state school here in ohio........doesn't matter which one.

15,000$ per year


That is 60k dollar for four years


Where did they get the other 38k?

[Triple J]

How is that even possible?

I'll pick a random state school here in ohio........doesn't matter which one.

15,000$ per year


That is 60k dollar for four years

Is that for residents?

University of Nevada (where I went) currently charges undergraduate residents $148/credit. Say 16 credits/semester and 2 semesters/year = $4,736/year.

There are a few other fees, like health and such...so say $5,000/year + books.

UC Berkeley (where I went for grad. school) is similar for resident undergraduate tuition.
edit: Berkeley is $4,874.25/semester for undergrad. residents...still quite a bit less than $15K/year though.

Out-of-State is significantly higher.

[Goat_Herder]

How is that even possible?

I'll pick a random state school here in ohio........doesn't matter which one.

15,000$ per year


That is 60k dollar for four years


Where did they get the other 38k?

There is something that people do while in school.  It's called Part Time Job.