Comments on: Could I Have Avoided Student Debt?

By: Declutter

Declutter — Sat, 08 May 2010 17:10:33 +0000

I definitely think so. Getting the generic courses out of the way at a community college would save you loads of dough. Then afterwards you can go to a state university and finish off a few of the key courses at the “high end” college. To be honest there are only a few of the courses that are really worth that much. A handfull at best especially considering the difference in the offerings.

By: Amanda

Amanda — Thu, 05 Feb 2009 16:32:51 +0000

Another point: I find people put too much emphasis on moving away to a new city, living up their 4 years in university, partying etc. I find many undergrads assume university will be the only place they’ll be able to enjoy their youth; after that, they think, life will be dull and uninteresting, so you better move away for college and assert your independence now because the fun all ends when you get your diploma. I disagree.
Consider this: you’ll still be young when you graduate. You’ll be in your early 20s. You’ll still want to party, buy nice clothes, maybe travel the world, perhaps get a graduate degree, buy a house, maybe even (shocker!) spend $ on a pretty wedding if you find that special someone. I don’t think you can justify spending $ on ANY of these things until you attack your undergrad debt. I know people in their 40s still paying off student loans, and tuition used to be WAY cheaper 20 years ago in Canada. I also have friends who turned down a low-paying but fun job in their chosen field, and took a boring but decent-paying government job instead. It’s heartbreaking to see. Don’t let 4 years of your youth put a damper on the rest of your life!

By: Amanda

Amanda — Thu, 05 Feb 2009 16:19:44 +0000

These 2 posts (Squakhawk and Broke Grad) certainly generated a lot of thoughtful discussion…. Great to see! I’d like to add 1 more tip: WATCH your monthly expenses for the little things. That’s what really adds up. ie — Buying coffee at Tim Horton’s instead of making your own; buying a sandwich for $3 instead of making your own for a couple cents; dinners out; new clothes now and then; trips to the movie theatre; booze/taxis to clubs … If I’d have cut down on these things, I could have graduated with much less debt. Actually, I don’t consider myself to be very wasteful, but I remember what OTHER undergrads spent on a daily basis, and it’s pretty scarry. Be stingy for all 4 years and you’ll thank yourself.

By: Bobby

Bobby — Mon, 17 Nov 2008 01:19:22 +0000

All of this trading certain life experiences for additional student debt is a noble and worth argument.

BUT, I want you to come sit in my office as I try to explain why student debt is non-dischargeable in bankruptcy and that those $500-$600 per month payments will last for the next 20 years. All the way through the “cute little sports car”…”I need new furniture”….and, “Will I ever be able to buy a house” phases of life.

After bankrupting $20K of credit card debt….guess what?? Those student loans are still there.

So, that is the side of student loans that I see… and I see way too many of them each week.

By: Slinky

Slinky — Fri, 28 Mar 2008 22:56:32 +0000

I’ve been thinking about this topic a lot as I get ready to graduate from college myself. While I didn’t do a coop, I did do two internships. I also worked anywhere from 1 to 3 jobs during college. The two things I could have done better with was finding scholarships and finding cheaper textbooks.

I think the best thing I could have done to reduce costs though, was to not work. If I hadn’t been working, I could have concentrated more on school, and taken more classes per semester. More classes each semester = fewer semesters needed to graduate = less tuition paid. The amount I made working at low paying part time jobs that were willing to work with my school schedule pales in comparison to one less semester of tuition.