Life is so expensive for young adults these days

[JaneV2.0]

I checked, and the cost of tuition, fees, and books at my alma mater is about $10,000 a year (state school), minus dorm costs which bring the total to about $20,000). When I went there it was about $500. I don't know how anyone of modest means can afford college today without incurring staggering debt, which they will have to pay off at usurious rates across their lifetime. I put myself through, working part time, and incurred no debt whatsoever. My sibling did the two years at community college, two years at a private university while working full time, with part of the tuition employer-paid--also debt-free.

[Spartana]

This is in Calif but doesn't seem that much higher then when I went to a Cal state university more than 20 years ago. Community college is $46/unit.


All students enrolling at the CSU pay the systemwide Tuition Fee which is currently $5,472 per academic year for undergraduate students enrolling in more than 6 units per term and $3,174 for undergraduates enrolling in 6 or fewer units. The 2013-14 Tuition Fee for students enrolled in postbaccalaureate teacher preparations programs for a Multiple Subject, Single Subject, or Special Education credential is $6,348 for students enrolled in more than 6 units and $3,684 for students taking 6 units or less. Students enrolled in graduate programs and other postbaccalaureate students pay a Tuition Fee of $6,738 for more than 6 units and $3,906 for those enrolling in 6 or fewer units.

[iris lilies]

The reality is that education cost inflation has gone up much faster than most other costs and that financial aid is much more loan based then grant based as it once was. If you weren't aware let me know and I'll be happy to find some statistics...

Sure, tuition is higher now as then. But I don't understand how people end up with graduate degrees that are not in the sciences with debts of $50,000 and $60,000 and more, and more importantly, why?

To rehash the subject from just a couple of months ago:

Cost of my Graduate Degree today

Given all of the other chat on the other thread about college costs, I was curious to know how much my graduate degree would cost today. Here it is:

Cost of My Graduate Degree Today: requires 42 semester hours

Tuition $15,564
Books ? $2,500 ?
_________________
Total $18,064

This is the cost of my degree at today’s rates at in-state university, which I did. My estimate for books may be low.

This seems reasonable to me, it's less than a car.

And to also rehash, DH got his graduate degree owing nothing, they paid him to be a TA. And the entire time he lived in a NICE apartment (had a roommate who was never there) and drove a nice, newish car. But these living arrangements were possible because he had lived with his parents on their farm, saved craploads of money while working, so he could afford a paid-for car.

I have four nephews belonging to DH's sister who is good in math; 3 of her 4 boys are scientists and engineers. Somehow this family sent all of these boys through school and none have debt including the mom and dad.

I have another nephew who put himself through school including a graduate degree and he had no debt. His wife has a Ph.d and she's got no debt. They both got real jobs in corporate America and are racking in the dough.

There is a recent NYT article about boomerang kids n high college debt. Their ennui and lack of focus is typical of a lot of good kids. Early 20's is a time to explore life and self, to try out boundaries, to experience the world. I do not for a moment think that everyone should become little learner drones, marching toward the degree, and then slip right into corporate life. But neither do I think anyone does them a favor in encouraging them to think of a career in film direction, cartooning, etc as mentioned in this article. All those things are hobbies, that's not real life and real work.

[CathyA]

Not all colleges/universities have the degrees that all kids want.

[flowerseverywhere]

Anyone been to a young person's wedding lately? Much more elaborate affair than ever. Destination weddings, fancy restaurant or destination showers, exotic honeymoons.

How about looking in a young lady's closet at her shoes? The cars in high schools and college parking lots. Lines of people waiting to get into Olive Garden. Cars that cost over $50,000 dollars. Packaged meals in the grocery store. The rise of gym memberships. Starbucks coffee. Drive through overpriced fast food. Paying for tv and Internet and smartphones.

it is a change in our whole culture, mainly through the advertising we are bombarded with of what we have to have. What at one time was considered a luxury is now normal. Yes, college can be very expensive. Student loans are ridiculous in their current form. Quality food is expensive. Rents can be very expensive. It is all about making do with what you have or figuring out how to do it differently.

[pinkytoe]

Many college loans were/are used for living expenses and not just tuition. That is one of the reasons they get so high. Colleges hand them out like they used to peddle credit cards before being reigned in. After all, how many students would attend without loans? It also allows them to raise tuition year after year.

[frugal-one]

IrisLily.........I think it might factor in that you do not have children. It's easy to think it's no more expensive, or that young people can do without certain things today if you aren't in the thick of it.

True, my children could do without certain things. (It's doubly hard when DH never challenges them or questions how they spend their money, pay back VISA, etc.) I'm doing it constantly.
But if they didn't have cars, they would have no job (and even though they both have several degrees, they aren't making that much money). And what person today (even really poor people) doesn't have a cell phone or internet?

Our culture keeps cranking out more and more things to buy and convinces everyone they "need" them. Not only that, but we have a society that has been constructed to really need these things in many instances.

Even though the "poor" are still out there, I'll be they aren't in the same category as "poor" 40 years ago.
I remember having a couple hundred dollars to pay back on a student loan. DD has $60,000. She makes something like $18,000/yr.....and has several jobs.
Seems like we're creating more poverty because we keep building on what we need to have and buy.

My son and SO are in their mid-30s and have no cell phone or cable (albeit they do have internet...free wireless). They live a very frugal lifestyle... are professionals.... So NOT everyone NEEDS these things. I agree with others here... these are WANTS not needs. BTW... son and SO have a paid for house and no debt. The house is around 100 years old and they have fixed it beautifully. They also shop thrift stores, garage sales, etc. They don't care or need the latest and the greatest. I am VERY proud of them for not caving into societal pressures.

[Lainey]

Arizona is No. 1 in college tuition increases:

http://azstarnet.com/news/local/educ...847df424f.html

State funding has been reduced by hundreds of millions of dollars, pushing the cost onto students. The AZ state constitution states that university should be free, or as nearly free as possible.

We're way beyond that.

[CathyA]

I'm happy for your kids Frugal-one, but mine have to do alot of traveling in their jobs, and I wouldn't want them without a cell phone. And they also do alot of their work online. So should I expect them to give up their professions? I, personally am able to live differently.
Unfortunately, my kids would have to give up their professions to live more frugally. It's pretty hard to live life in the U.S. today, without some of these things.
And I guess my kids are at that age where they're just starting up their professional lives, and are accruing debt in order to better their jobs, while not earning as much as they will in the future.

What I am saying is that it is a very hard job to stay simple, in a very un-simple/expensive country.

[frugal-one]

I think there are always simpler ways. Cell phones could be trac phones or a lesser model to be used only for emergency. I see people using their iPads as phones to save. These would work and not cost as much. Albeit they would not be as "cool".