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by ChuckMcM
4473 days ago
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Would love to know the degree/school. It really irritates me when someone says they have to get $200,000 in loans for a worthless degree from a 'big' school. Both the people who advised them that this was a good plan in the first place, and the people who loaned them the money. |
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Arkansas Tech University - 09, Judging by her skills on linked in, I would say Journalism or something in the English department.
The University is $8k-11k depending on in/out of state. So thats a top of 88k. But from her linked in profile it looks like she's in state so, worst case, we're looking at $65,000 for the 4 years. So her monthly payments at a whopping 10% apr (which is the highest I've ever seen student loans go) would be $860, had she not defaulted. But since she did shes looking at a monthly payment of $545. I don't know her details but I'm going to say that $860 would be more than she made after taxes.
So, no big name school here. No loan sharks. And a pretty reasonably priced university. And I'm sure that everyone expected her to graduate and make at least $12/hr which would allow her to split rent and still pay her loans (with some food money). Based off that I would say its pretty reasonable to say she got shafted by the economy. Finding work as a journalist after the collapse would be quite hard. But before that it seemed like a genuinely decent field. Sure, its not comp sci or petrol eng but it was a good way to go.