The Most Burdened With Student Loans Are Women

[Evolving78]

My oldest daughter is an artist. Yeah I could press STEM but I can already see that my baby is a creative who happens to love math, not a mathematician who happens to be creative. So while she will take all those advanced math classes because she is good at it when she tells me that she plans to major in Art History or English I'm not going to stop her. Degrees what you make of them and she will have the network she needs to be successful at whatever she does. And her first degree is on me...2nd one too if she gets scholarships.

This is my daughter. She likes math, and she is an artist. She wants to stick to the arts as a career. She just completed a mediocre art program. She needs something more advanced. Plus, she wants to start drawing on the computer. I need to invest in whatever software she needs. I need to see if the local college has a summer art program. She loves to draw anime, and would like to teach others when she grows up. I don't know where, or who I can get some guidance from.
Oh they have a STREAM program at the college. I think I can swing it. It's a week program and $138. But I need to make sure it would be a waste of our time again... I have her in gymnastics too.

 

[larry3344]

http://college.usatoday.com/2017/03/28/student-loan-debt-women/

 

[Miss617]

Same. Which prob attributes to the ridiculous amount of loans women have taken out. I would assume that most of them were first gen college graduates. I know i was. My gram or mom didnt know a thing about tuition costs, loans, grants, scholarships, etc.

I completely agree. I don't know much about my grandmother, but if she had gone to college, it would have been a completely different time, and in the South at that. My mom literally told me, "I didn't help your sister, so I won't be helping you." She cosigned my loans and took out a parent loan, but guess who's paying that back on top of her own federal and private loans? My loans by themselves I could handle, but the parent loan is the killer.

 

[larry3344]

http://www.businessinsider.com/how-...n-3-years-2017-3?international=true&r=US&IR=T

 

[Femmefatal1981]

http://college.usatoday.com/2017/03/28/student-loan-debt-women/

27-28k is nothing in student loans...

 

[larry3344]

https://www.google.ca/amp/fox4kc.co...-two-thirds-of-nations-student-loan-debt/amp/

 

[Femmefatal1981]

http://www.businessinsider.com/how-...n-3-years-2017-3?international=true&r=US&IR=T

where the heck did she go to school!!!!

 

[larry3344]

27-28k is nothing in student loans...

Ya but have you seen some of these degrees? Theatre and french? What did she expect to do with that?

 

[larry3344]

https://www.google.ca/amp/amp.timei.../24/women-student-loan-debt-study/?source=dam

 

[Evolving78]

I completely agree. I don't know much about my grandmother, but if she had gone to college, it would have been a completely different time, and in the South at that. My mom literally told me, "I didn't help your sister, so I won't be helping you." She cosigned my loans and took out a parent loan, but guess who's paying that back on top of her own federal and private loans? My loans by themselves I could handle, but the parent loan is the killer.

I will be paying forever... I don't understand how black folks push their kids to go to college, but nobody wants to pay for it! Then wanna have the nerve to brag that your kid is going, or they graduated...

 

[Covagirlm]

I will be paying forever... I don't understand how black folks push their kids to go to college, but nobody wants to pay for it! Then wanna have the nerve to brag that your kid is going, or they graduated...

A lot of black folks do not have parents that could afford to pay for college.

 

[larry3344]

@shortdub78 which is why I am saying BW are being pushed to get degrees but many are BS degrees that they cannot translate into the workplace or they dont know how to leverage into a career.

You should not be racking an inordinate amount of debt for a liberal science degree. You want an arts degree get a diploma that you can pay off quicly and get technical certs.

Get your company to fund your graduate program/post graduate. People need to know what their options before the drink the koolaid of higher education.

And what a waste if you dont even end up using what you went to school for in the first place.

 

[larry3344]

We are already an extremely disenfranchised group we need to pick more wisely. We are taking a debt load that is suffocating us.

 

[Miss617]

I will be paying forever... I don't understand how black folks push their kids to go to college, but nobody wants to pay for it! Then wanna have the nerve to brag that your kid is going, or they graduated...

I'm trying to have my federal and private loans paid off within the next three years. The parent loan, IDK. Just the thought of it makes me hyperventilate.

It's been talked about here before, but we need to let our kids know that there are other options. As I mentioned in a PP, do CC first and transfer. Go to a vocational school, learn a trade, something. If parents are unwilling/unable to help pay for school, they (and I'm speaking for myself as a mom as well) need to help the children think of alternatives. We aren't doing them any favors by not having a real discussion about the cost of college and how it can impact your future if you have to decide between rent and a loan payment.

 

[Evolving78]

A lot of black folks do not have parents that could afford to pay for college.

Very true. That's why we gotta learn how to operate from a different angle. They were discussing this on News One this morning concerning HBCU alumni not donating enough. I think someone that is knowledgeable would be a great asset to the community, to teach parents about savings, grants, and scholarships. And deciding if a certificate is better, than a degree.
My parents didn't save for me, but I couldn't stay at home and work either. I had to be in school. We didn't really have a discussion about college. I just knew I had to go! lol that's terrible! And both of my parents are college educated.

 

[BillsBackerz67]

Ya but have you seen some of these degrees? Theatre and french? What did she expect to do with that?

I was just having a convo with @Covagirlm about this. Unless you come from an extremely well to do family, #dontdothis lol. My friend that used to cheerlead with me majored in Dance Therapy but guess what? Her dad is beyond disgustingly loaded and she can do that. She went to school to pursue a damn hobby. Regular folks like myself?...i wouldnt recommend it unless you have a well thought out plan with connects flowing from every oriface of your body lol.

 

[larry3344]

@BillsBackerz67 Exactly my point. Black children should be getting technical degrees more so than anyone but we do the extreme opposite.

I am a creative as well but a good middleroad compromise would be to combine a creative major with a technical skill that is highly in demand in the current marketplace.


This is also why I cringe at these minority geared bootcamps because it is hald ass solution. Many of these hard science/technically inclined programs require financial/emotional support which many black children dont get sufficiently if at all.

 

[naijamerican]

@larry3344 and @BillsBackerz67, you ladies are dropping knowledge all up and through this thread! I hope that LHCF members who are in college heed what you're saying. I love the arts and respect those who have the talent and persistence to pursue it as a profession, but I also believe that if that's the road you decide to go down, please consider the short and long term consequences of acquiring student loan debt for what is frequently a low-paying career. The only reason I am able to reconcile myself to the realities of my debt is that my income will rise with time and I have opportunities that can repay them for me.

 

[DarkJoy]

I believe this article only notes these debts for undergrad. grad school debt is astronomical.

as far as what we choose to study that's a toughie. depending on several factors including, SES, 1st gen college student status (we still have huge numbers where no one in the fam was exposed to college) and whether or not they knew of or even had resources that exposed the student to the same old same old determines everything.

Sadly, in most of our school systems where blacks dominate population-wise none of these things exist... however, lets see what doors the millenial's children find when they come of age since they will be exposed to so much more via any connected device.

@shortdub78 which is why I am saying BW are being pushed to get degrees but many are BS degrees that they cannot translate into the workplace or they dont know how to leverage into a career.

You should not be racking an inordinate amount of debt for a liberal science degree. You want an arts degree get a diploma that you can pay off quicly and get technical certs.

Get your company to fund your graduate program/post graduate. People need to know what their options before the drink the koolaid of higher education.

And what a waste if you dont even end up using what you went to school for in the first place.

 

[BillsBackerz67]

I believe this article only notes these debts for undergrad. grad school debt is astronomical.

as far as what we choose to study that's a toughie. depending on several factors including, SES, 1st gen college student status (we still have huge numbers where no one in the fam was exposed to college) and whether or not they knew of or even had resources that exposed the student to the same old same old determines everything.

Sadly, in most of our school systems where blacks dominate population-wise none of these things exist... however, lets see what doors the millenial's children find when they come of age since they will be exposed to so much more via any connected device.

Yep I know people say that tuition costs shouldn't defer you from pursuing your dreams but Im really at a loss as to what to what I want to do. I really want to go to CRNA school but Im looking at $130,000-$175,000 in grad school debt after its all said and done. Its not the tuition costs thats the problem its the 3 years of not working full time that really puts you in the hole. even the bare minimum of living on $25k will result in taking out a $75k loan just for COL. Ive even thought about a side hustle but the program is so demanding that its hard to even factor in time for that.

I really do not want to go through this BS AGAIN lol. At this point my best option is to save up and go to school when Im 40. There are hospitals that do pay loans back but i also dont want to be stuck somewhere for years because of an obligation i owe them. Decisions, decisions.

 

[larry3344]

@BillsBackerz67 i am going through tne same thing. Check to see how long you have to work for a company. It might not be as long as you think and end up being just enough time to finush your degree. Try to see if you can start by doing online classes as well instead of jumping into in class studies.

There are options just need to seek it out.

 

[FelaShrine]

@GeorginaSparks

I do think that anything we can use to have BW live better lives no matter the source or if it hurts our ego is necessary or we risk being our own hypeman. I think there may be some merit to what is said...aside from the insults and berating.

I have noticed an unusual amount of BW in Nursing/Psychology programs with no plans on pursuing a masters/work in academia racking up loans just to work a dead end job..

BSN usually leads to great positions in hospital. Hardly a dead end job and shouldn't be compared to Psych imo which most def requires more education to be useful

 

[Femmefatal1981]

130-175k...I think if I were 21-23 it would be a no brainer. I would live at home, drive a paid off car, etc. But I am almost 40 and adding that much debt to my life knowing that I have to send a kid to college in 7-8 yrs would require a foolproof repayment plan. Like I would have to be able to get like 1/4-1/2 forgiven or paid for by my employer + we would have to live on dh's salary for 2 yrs while I put every dime I made on the remainder. I want a PhD but only if it is darn near free.

 

[DarkJoy]

130-175k...I think if I were 21-23 it would be a no brainer. I would live at home, drive a paid off car, etc. But I am almost 40 and adding that much debt to my life knowing that I have to send a kid to college in 7-8 yrs would require a foolproof repayment plan. Like I would have to be able to get like 1/4-1/2 forgiven or paid for by my employer + we would have to live on dh's salary for 2 yrs while I put every dime I made on the remainder. I want a PhD but only if it is darn near free.

im in the same age group and same with the kiddo. plus add the extreme need to save or ramp up retirement on top of kids tuition, plus the possible loan debt? nah.... i wont be doing it unless i can get some type of scholarship or fellowship thing going.

 

[BillsBackerz67]

@BillsBackerz67 i am going through tne same thing. Check to see how long you have to work for a company. It might not be as long as you think and end up being just enough time to finush your degree. Try to see if you can start by doing online classes as well instead of jumping into in class studies.

There are options just need to seek it out.

CRNA DNP programs are extremely rigorous, there is no part time or taking online courses leading up to school to knock credits off. Its a terminal degree program. You're either a FT student or ur not in the program. There is no in between.

My best bet is to email the schools that im interested in to see what types of offers were allotted to the students post grad. I know Baylor Hospital system does pay back some of all of loans and recruits CRNA's but not sure what the stipulations are surrounding it.

 

[BillsBackerz67]

130-175k...I think if I were 21-23 it would be a no brainer. I would live at home, drive a paid off car, etc. But I am almost 40 and adding that much debt to my life knowing that I have to send a kid to college in 7-8 yrs would require a foolproof repayment plan. Like I would have to be able to get like 1/4-1/2 forgiven or paid for by my employer + we would have to live on dh's salary for 2 yrs while I put every dime I made on the remainder. I want a PhD but only if it is darn near free.

The good news is kids wont be a factor so i dont have to worry about that aspect...and my car is paid for. I even considered moving back to Buffalo and staying with my mom for free but i did the math and id actually be out $50,000 more because UB's Tuition is higher

Im better off going to school in Texas and living on my own I love school so regardless if I went next year vs when Im 40 doesnt factor in my decision making at all. But if this was medical school? Nope not going unless i get a free ride down to my rent and car being paid for! Otherwise would not see any return on my investment until im 50+ years old. No thank you.

As of now, I can live pretty comfortably on the salary im currently making or even working part time. It's a huge relief knowing that I dont have to rush going back to school in hopes of a larger salary. If not school maybe real estate license, a small business, or a different masters program thats cheaper? We'll see.

 

[Femmefatal1981]

The good news is kids wont be a factor so i dont have to worry about that aspect...and my car is paid for. I even considered moving back to Buffalo and staying with my mom for free but i did the math and id actually be out $50,000 more because UB's Tuition is higher

Im better off going to school in Texas and living on my own I love school so regardless if I went next year vs when Im 40 doesnt factor in my decision making at all. But if this was medical school? Nope not going unless i get a free ride down to my rent and car being paid for! Otherwise would not see any return on my investment until im 50+ years old. No thank you.

As of now, I can live pretty comfortably on the salary im currently making or even working part time. It's a huge relief knowing that I dont have to rush going back to school in hopes of a larger salary. If not school maybe real estate license, a small business, or a different masters program thats cheaper? We'll see.

True you could always go into administration even though I know you don't want to do 9-5. With this aging population nursing is going to open so many doors that are not so obvious today.

 

[Femmefatal1981]

im in the same age group and same with the kiddo. plus add the extreme need to save or ramp up retirement on top of kids tuition, plus the possible loan debt? nah.... i wont be doing it unless i can get some type of scholarship or fellowship thing going.

Yeah my masters program is cheap, otherwise I wouldn't be doing it.

 

[FemmeCreole]

well we have higher levels of education too right? This should not surprise anyone.

Yep. That's what I was about to post.

 

[FemmeCreole]

I had a full free ride for undergrad but now?... just finished year one and I'm almost 40k deep in loans now and I'm have 2 more years to go. And that's after paying 11k out of pocket. (That figure includes the summer session in starting next week).

I'm going to start something for my DD in a couple weeks. Maybe a 529 plan or... still researching. I want her to be set. I'm not really worried about repaying the loans but it's like a cloud over my head.