undefined | Better HN

0 pointsBeetleB4y ago0 comments

> Many students do community college for the first two years, and then finish at a university, and end up on the order of ~$30,000 of debt.

For people in many European countries, this is an absurd amount of debt to get a university degree.

Edit: For context: About 20 years ago, my university's annual fees was $15000/year for out of state students, and $4600 for in state - in today's dollars. Now that university charges $28K for out of state and $8.3K for in state - almost doubled after accounting for inflation. In other nearby universities I see people paying $15K/year for in state. This is a huge increase in two decades.

0 comments

tombert4y ago

That's entirely fair, I'm a big proponent of making colleges either free, or extremely heavily subsidized by the government. I completely agree that it's still ridiculous to leave with $30,000 of debt.

I'm just saying that, for someone working an engineering job, that is not generally a life-ruining amount of money, especially in comparison to the increased earning potential that a degree affords you (which is, I suspect, why they get away with charging such exorbitant tuition in the first place).

Dma54rhs4y ago

Are dormitories / living expenses included in those American debt numbers or you take them as separate?

tombert4y ago

I was taking them as separate. I did my bachelors online (while working full time), so I didn't know how to factor that into the calculation. I just texted a friend to ask, and he said he left his state school with about $35,000 in debt, but that was with a partial scholarship for the tuition, so I suspect a good chunk of that was the dorm.

If we double the number I gave to $60,000, that's a lot more, and starting to approach life-ruining territory, but I'd say still falls a bit shy of it for an engineer.

wincy4y ago

I met a person who went to a for profit university, never got a degree, and works at Cheesecake Factory. He owes $120,000 and has three kids. His life was effectively ruined by this college.

1 more reply

throwawayboise4y ago

Your European parents paid that $30K and more in additional taxes though. The money came from somewhere; land and buildings and qualified professors do not come for free in Europe.

Broken_Hippo4y ago

Well, sure, but it isn't like taxes are that much higher - honestly, my taxes moving from the US to Norway weren't realistically higher than state + federal + health insurance, and if you consider the out of pocket for health care, the bill is cheaper. Not to mention that Folks that go to school and wind up working a lower-paying job (teaching, for example) aren't on the hook for all of it either.

And you aren't even paying for the same sort of things: Many colleges have sports teams in the US, for example, and the degrees take longer in the US. For example, you don't have to get an undergraduate degree in Norway to become a doctor so you spend less time actually in school.

BeetleBOP4y ago

I'm failing to connect your comment with mine. Yes, of course it came from additional taxes. Those additional taxes did not put people into $30K of debt in those countries. If you're poor, you don't pay that much in taxes. My mythical European parents did not get go into debt paying those taxes so I could go to school.

imtringued4y ago

Another commenter pointed out that German universities need 1.3% of GDP to educate 27% of the population without charging them tuition. USA actually gives more public funding to colleges than Germany and yet those colleges are still asking for tuition.

j / k navigate · click thread line to collapse

0 comments

tombert4y ago

Dma54rhs4y ago

Are dormitories / living expenses included in those American debt numbers or you take them as separate?

tombert4y ago

If we double the number I gave to $60,000, that's a lot more, and starting to approach life-ruining territory, but I'd say still falls a bit shy of it for an engineer.

wincy4y ago

I met a person who went to a for profit university, never got a degree, and works at Cheesecake Factory. He owes $120,000 and has three kids. His life was effectively ruined by this college.

1 more reply

throwawayboise4y ago

Your European parents paid that $30K and more in additional taxes though. The money came from somewhere; land and buildings and qualified professors do not come for free in Europe.

Broken_Hippo4y ago

BeetleBOP4y ago

imtringued4y ago

j / k navigate · click thread line to collapse