wrote:
On Tue, 10 Feb 2015 13:57:13 -0800 (PST), Tim
wrote:

Fortunately my daughter is working on a 2 year masters program which is
about 30 grand a year. She's working a trade off which entails making
almost nothing but some pocket monies. Though her tuition is paid for by
working at the college, When she's done she'll have a masters in
"coaching" which will pay her about 22,000 a year as their assistant vollyball coach.

Yeah, my wife and I are still paying 'child support' lol!

My son in law has a masters in "beach" (environmental) something and
he ended up being a park ranger for $25k. It took him quite a while
before he could move up and he still topped out around $50k at Florida
water management.
Then he went to law school, passed the bar and he is still looking for
another job, without as much luck as he expected.
Student debt is now over $200k now with 20 years of accrued interest
on the original loan and subsequent ones.

That is the insidious trap in student loans. As long as you are taking
"something" you can defer the payments so kids keep going back for
more and piling on the debt.

I do think it is funny that a quarter century ago the scandal was
banks giving college students credit cards and then the colleges saw
the gravy train and jumped on it themselves. Now the student loans are
much bigger than a bank would ever let a credit card debt get before
they shut them down.

The other problem with student loans is the government. Why do the Fed's
set an 8% rate on student loans, when they are loaning money to the FED and
zero interest rate?