A great big "Yikes!" to the news that the average student debt load for folks graduating from college in Nebraska is right around $20 grand. News like that really wakes me up to how lucky I was to make it through both an undergraduate and graduate degree program with far less debt than that -- debt which included living expenses and which I paid off in full this fall. And to think I pondered going to Washington University where $20 grand would have looked pretty darn nice after four years.
I wonder what college will look like by the time Robbie gets there?
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This art major is doing quite well, thankyouverymuch. I paid off my $8000 debt in less than a year, and was able to finance my master’s degree out of pocket (well, what was left after scholarships).
Heh, I knew somebody would be along eventually to take umbrage at that 😊 No offense intended! I had to pick some major. I couldn’t pick my own (political science) because, frankly, way too many PS folks are making way too much money in DC and elsewhere. Much more than they’re worth, that’s for sure.
Ah… Wash U. took a few night classes there.
Undergrad Expenses:
Tuition: $37,800
Student Activity Fee: $378
Student Health Fee: $686
Housing: $8000 (average)
Meal Plan: $4000
Annual Total: $50,864
4 year total: $203,456
Yes, I’d say $20,000 would look about 10 times better.
This is why I am a fan of the College Savings Plan of Nebraska. I’m saving away right now for my kids, in hopes of defraying as much of those costs as possible.
Karin has written some great stuff about financial management, she should write a lot more.
You know, I have started posts on financial management, but it basically comes down to:
1. Put a large percentage of your money into savings before you see it (i.e. don’t let it go to your bank account first) and
2. Don’t buy shit you don’t need.
I’ll probably write something at some point. Maybe after I sell my house or get a full time renter so I’m not all bitter when writing about finances.
Anyway, I wasn’t offended by the art major thing. 😊 It’s true a lot of students get a lot of degrees when they have no idea what they’ll do with them. Heck, I just got lucky getting my current job. 😊
Financial responsibility is awesome. I wish more people would be sensible and proactive about their financial well-being.
I love financial management, and actually once wrote an outline for a book that I never wrote, geared toward people in their 20’s.
I love the phrase “don’t buy shit you don’t need.” That would be a great title for the book. LOL
In my mind, financial well-being is not only related to the amount you save, but what you do with your savings. Of course, most people don’t even get to that point since they don’t save. As for myself, I have done quite well since the March lows trading individual financial stocks and various leveraged ETFs. All I can say is: Thanks Tim Geithner and Ben Bernanke.
I’m not willing to do enough research to trade on individual stocks, so I just put money in various index funds and let it sit there. Over the long term (assuming our entire financial system doesn’t collapse) I should come out ahead. *knock on wood*
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